Question

In an attempt to re-establish a prominent market dominance, Merith Vern, a goods transportation company, performed a study of its current and potential environment in which its service would be marketed. In this scenario, Merith Vern has most likely used _____ in an attempt to re-establish the prominence of its service in the market.

Answer 1

B. SWOT Analysis

Step-by-step explanation:

First, the multiple choices

a) Ansoff's strategic opportunity matrix

b) a SWOT analysis

c) the General Electric Model

d) a mission statement

A SWOT analysis also referred to as a SWOT matrix represents a strategic plan an individual or organisation can employ to access the various strengths, weaknesses, opportunities and threats that are related to its environment. This analysis is useful for planning purposes both in current and future events.

Merith Vern is therefore undertaking a SWOT analysis in order to effectively plan for how to re-establish prominent market dominance. This will mostly be done by maximising its strengths and opportunities (especially above its competitors) and reducing its weaknesses and threats.

Specifically, if the analysisi is based on current or potential environmental factors, then it is SWOT analysis.