Tuesday, 21 May 2024, 5:40 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary

SWOT Analysis

SWOT analysis is a tool that identifies the strengths, weaknesses, opportunities and threats of an organization.  

Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do, as well as its potential opportunities and threats.  

The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). 

Micro Environment

Factors or elements in a company’s immediate area of operations that affect performance and decision-making abilities.  These factors include competitors, customers, distribution channels,  suppliers and so forth.  

Intermediary

Also seen as a ‘middle man’. Intermediary is a company or person (such as a broker or consultant) who acts as a mediator or a link between parties for a business deal, investment decision, negotiation, and so forth.  

Consumer Buyer Behaviour

Refers to the actions taken (both on and offline) by consumers before buying a product or service.

Marketing

The process of planning and executing the conception, pricing, marketing communication and distribution of ideas, products, and services to create exchange that satisfy the organisational goals. 

Marketing Research

Is the process that provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process.


Marketing Segmentation

Is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.


Public Relations

The management function that establishes and maintains mutually beneficial relationships between an organisation and its public’s.

Public

Groups of people who have a common interest or common values in a particular situation. 

Acquisition

The takeover of one entity by another.