What do you think are the SWOTs to Online Universities as an organization at this time?
The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a useful tool to apply when defining marketing strategies. It is a required portion of your New Product Marketing Plan project due Week Five.
A strength is something the organization is good at doing, or some characteristic that gives the organization an important capability.
A weakness is something the organization lacks, or does poorly, relative to other organizations.
Opportunities represent external development or conditions in the environment that have favorable implications for the organization. Note: Opportunities are not what the company will do. They should not be confused with recommendations.
Threats, on the other hand, pose dangers to the welfare of the organization. Note: Competitors?direct or indirect?are nearly always threats.
(Krein & Peterson, 2001, p. 5).
Strengths and weaknesses are those factors which are controlled by the company and are internal variables focusing on the specific aspects of the 4 Ps.
Opportunities and threats are outside of the firm's direct control and are, therefore, non-controllable factors that can be positive (opportunities) or negative (threats) to the firm. These external factors are assessed by taking into account the competitive, technological, economical, political, legal, and social environments. A SWOT analysis can be presented most clearly using a bullet point list.
Inevitably, the SWOT analysis helps to focus on what a company can control, i.e. internal strengths and weaknesses within the marketing mix, while forcing examination of what is occurring in the external environment?opportunities and threats?that will most likely effect the business or product. The SWOT analysis is a tool that should be included in all the marketing plans for clients, because it provides an objective way of pointing out areas that need additional focus, while ensuring that what is working keeps on working. Or at least, that's the general idea.
SWOT to Online Universities as an organization:
1) Low cost model: Online universities have a much leaner organizational structure and operate on a low cost structure (just like other e-businesses) and thus, have higher operational efficiency. This in turn, translates into lower cost for the courses.
2) Greater penetration and presence: Internet has redefined the physical boundaries of trade and thus, online universities have a wide reach and ...
The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a useful tool to apply when defining marketing strategies.