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A company can use several strategies to mitigate its weaknesses in the face of market threats. These include investing in research and development to improve innovation, diversifying its product range to reduce dependence on a single product, improving financial management to increase resources, and adjusting pricing strategies to remain competitive. It can also seek strategic partnerships or mergers to strengthen its position, and invest in employee training to improve skills and productivity.
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To compare the organization against market conditions, this opportunities vs threats checklist grades where opportunities exist across market conditions like consumer habit trends, competition, and market potential; environmental conditions like regulations, laws, or the climate; and the organization's strengths and weaknesses. In this example, the company's pricing and diverse product range are key strengths, but its innovation ability and financial resources its main weakness. (Slide 4)
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Have your organization’s marketing efforts stalled out with overpriced ads and harder customer conversions? A strong marketing plan helps control cost...
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