Page 45 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes
Figure 2.5: The TOWS Matrix
Internal
elements Organisational Organisational
strengths weaknesses
External
elements Strategic options
Environmental SO: strengths can be WO: the strategies
opportunities used to capitalize or developed need to
(and risks) build upon existing or overcome organisational
emerging opportunities weaknesses if existing or
emerging opportunities
are to be exploited
Environmental ST: strengths in the WT: the strategies pursued
threats organisation can be used must minimize or overcome
to minimize existing or weaknesses and as far as
emerging threats possible, cope with threats
existing or emerging threats

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Caution In order to overcome this, Piercy argues for the TOWS Matrix, which, while using
the same inputs (Threats, Opportunities, Weakness and Strengths) reorganizes them and
integrates them more fully into the strategic planning process.
Self Assessment

Multiple Choice Questions:
3. ......................... is the process of gathering information regarding a company’s environment.
(a) Climatic Factors (b) Climatic Scanning
(c) Environmental analyzing (d) Environmental scanning

4. The major components of environmental scanning are:
(a) External environmental analysis (b) Customized analysis
(c) Competition analysis (d) Target analysis

5. Factors relating to population, such as size, growth rate, age distribution, religious
composition and literacy levels are all part of:
(a) Economic Environment (b) Ecological Environment

(c) Demographic Environment (d) Differential Environment
6. Which one of the following is a part of macro environment?
(a) Consumers (b) Suppliers
(c) Competitors (d) Technological
7. Public is a constituent of which of the following?

(a) Environmental scanning (b) Macro Environment
(c) Micro Environment (d) Global Environment

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