Question

When conducting a SWOT analysis, managers examine factors that impact their organization's internal strengths and weaknesses. These factors are some× referred to as the 5 Ps. The 5 Ps include which 3 of the following?

Answer 1

When conducting a SWOT analysis, managers examine factors that impact an organization's internal strengths and weaknesses. The 5 Ps in a SWOT analysis refer to Product, Price, and Place.

Step-by-step explanation:

When conducting a SWOT analysis, managers examine factors that impact an organization's internal strengths and weaknesses. These factors are sometimes referred to as the 5 Ps. The 5 Ps include:

1. Product: This refers to the organization's products or services. Managers analyze the quality, features, and uniqueness of their products to identify strengths and weaknesses.
2. Price: This refers to the pricing strategy of the organization. Managers assess the competitiveness of their prices in the market and evaluate how it affects their strengths or weaknesses.
3. Place: This refers to the distribution channels and locations where the organization's products or services are available. Managers examine whether their distribution networks are efficient and if the locations of their stores or offices are advantageous.

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