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Follow the instructions to do the assignment:
Create a SWOT Analysis for your marketing plan (use the same business we chose for the last work
we did together)
For guidelines to create your SWOT Analysis, use the attached documents and this website, and the
YouTube video:
https://smallbusiness.chron.com/swot-analysis-promotion-marketing-21821.html
Marketing Plan
SWOT Analysis
A SWOT analysis focuses on the internal and external environments, examining strengths and
weaknesses in the internal environment and opportunities and threats in the external
environment.
Answer the questions below – for each area of the SWOT analysis.
1.
2.
3.
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Strengths:
What advantages does the business have?
•
What does it do well?
•
What relevant resources does it have access to?
•
What do other people see as its strengths (e.g. work processes, culture, etc.)?
•
Weaknesses:
What could the business do to improve?
•
What does it do badly?
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Do others see the work processes, climate, systems, etc. as a weakness?
•
Opportunities:
Where are the good opportunities facing this business?
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Are there any interesting trends it could take advantage of?
4.
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What changes in technology and markets are occurring on both a broad and narrow scale
that might represent opportunities for this business?
•
What changes are occurring in social patterns, political administrations, population
profiles, lifestyle changes, etc. that might represent opportunities?
•
Threats:
What obstacles does this business face?
•
What changes are occurring in social patterns, political administrations, lifestyle changes,
etc. that might represent threats to this business?
•
Could any of its weaknesses seriously threaten its future?
SWOT Analysis
Strengths
One of the strengths that Metroplains Management has in the mid-west is longevity. They have
been around for 29 years. This makes them well known and an established and steady business
for families to rent from. Another strength includes Metroplains having attorneys, building
engineers, and certified compliance officers. They have a very well-rounded working team. The
attorneys are useful and important because they help Metroplains stay away from legal issues
and ensure the company will be able to secure profits without big losses.
Weaknesses
One of the main weaknesses of Metroplains is having limited staff. This has hurt them because
recently they had the opportunity to expand significantly but had to turn the offers down.
Another weakness is the fact that they are renting out older buildings around the Lake Region.
This makes it difficult because staff members must work a lot harder to gain tenants because
other apartments may have better insulation, cheaper utilities, or nicer interiors. Lastly,
Metroplains has trouble regarding communication within the company. They are growing fast as
a company and are trying to expand into different states, so excellent communication is critical.
Opportunities
A major opportunity for Metroplains is the number of building owners that want their company
to manage the properties. Although they are struggling to keep up with the work now, once they
can hire more employees they could grow extremely fast. Another opportunity is extremely low
mortgage rates on buildings. This creates great opportunities for the company by way of
refinancing current mortgages, purchasing other buildings, or upgrading their apartments with
these low rates. Lastly, the company has pursued the trend of online tours of their apartments.
This has made it easier to have multiple families look at apartments on their own time.
Threats
One of the main threats for the company right now is new companies being introduced to the
area and creating competition for apartment prices. There are a lot of new apartment buildings
being built in the Lake Region. Also, there are always new regulations and standards being
developed by housing programs. This forces Metroplains to conform to those regulations and
invest money into training of staff and updating apartments when they could be using that extra
money to put toward expanding or growing.
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