Here in 2B we take our lessons seriously and take them to heart. If there's one thing we don't forget, it's our basic standards. SWOT, the 4 P's, and the Product Life Cycle. Each one as important as the last.
S- Strengths. Things a business is good at
W- Weakness. This they need to improve in.
O- Opportunities. Ways to grow
T- Threats. Potential problems
In short, SWOT helps you see what's going well, what's not, what you can take advantage of, and what you should watch out for.
The 4 Ps of marketing are product, price, place, and promotion. They help decide what to sell, how much it costs, where to sell it, and how to tell people about it.
The product life cycle is how a product is born, grows, gets old and goes away.
First it is new then lots of people buy it then fewer people buy it and then it stops being sold.
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