Swot analysis is use for strategic planning marketing essay

In this part of the assignment, I am going to write about key principles of strategic marketing and its relationship with overall corporate strategy. I will also try to find out how it helps an organisation to achieve its prime competitive objective over its immediate rivals. This will cover learning outcome of section 1 and 2 and all its respective assessment criteria. According to Kotler et.

Swot analysis is use for strategic planning marketing essay

The strengths S and weaknesses W sections provide a look at the company's current position.

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The opportunities O and threats T sections help the company project possibilities and challenges going forward. Each of these four sections has specific advantages to the overall analysis. Strengths The strengths section allows the company to consider its competitive advantages in the marketplace.

These advantages are typically a focal point of the company's operation and strategic planning. They also often coincide with the way the company markets.

For instance, companies that have strengths related to manufacturing and production quality often promote themselves as high-quality brands. Companies that have very efficient distribution systems and good bargaining power with suppliers as strengths can often leverage those to provide low costs to buyers.

Weaknesses It may seem counterintuitive that a company would see advantages in assessing its weaknesses, but understanding them makes them easier to deal with. Generally, companies have two approaches to dealing with weaknesses. They can either seek to improve them if those weaknesses restrict the company from implementing its strategies to achieve objectives.

Or, they realize that their weaknesses are simply a part of the overall business approach and company leaders try to downplay those weaknesses in marketing their brand. Opportunities The opportunities section is critical to development of company strategies as it helps the company identify ways to improve and grow.

Constantly reviewing market opportunities helps companies take advantage of emerging markets or changes in the marketplace that the company has strengths to match.

Swot analysis is use for strategic planning marketing essay

These are significant advantages over companies that fail to routinely assess opportunities and miss out on the ability to gain new business, market share and access to capital. Threats Again, analyzing threats to your business is not a fun part of a SWOT analysis, but it helps the company insulate itself as well as possible from external threats.

The environment, regulations, technology and trends are among possible factors that can threaten the viability and ongoing success of a business. By assessing these risks and challenges, company leaders can better prepare them or decide how to respond from a strategic standpoint.

References 2 Mind Tools: SWOT Analysis About the Author Neil Kokemuller has been an active business, finance and education writer and content media website developer since He has been a college marketing professor since Kokemuller has additional professional experience in marketing, retail and small business.Jan 30,  · Now, the strategic planning starts.

You’ll use this list to create strategies to improve your business. We’ll walk you through how to turn your analysis into actionable strategies today. That’s the last step in your SWOT journey.

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SWOT Analysis Challenge Day 3: How to Identify Opportunities /5(35). SWOT analysis: introduction and use of the method in the business environment If you are even remotely familiar with a business world, you have certainly heard about the competitive environment, strategic planning and business analysis.

The SWOT analysis is a strategic planning tool for identifying and understanding the strengths, weaknesses, opportunities, and threats affecting a business, project or situation.

In fact, this tool is extremely flexible ― when used right ― and can help decision making in all sorts of circumstances. This essay gives an outline of SWOT analysis, what it is and how it helps businesses. It also provide SWOT analysis examples from key business sectors.

Fair Use Policy. Read in 5 minutes SWOT Analysis. In this article we show you how to use the SWOT analysis correctly using a simple explanation and example.

Swot analysis is use for strategic planning marketing essay

The SWOT analysis is a strategic planning tool for identifying and understanding the strengths, weaknesses, opportunities, and threats affecting a business, project or situation.

Pg38), 'Strategic planning is the process of developing and maintaining a feasible fit between the organization's objectives, skills, and resources and it's changing marketing opportunities'.

In fact, strategy is a long term plan of an .

Analysis Of Strategic Marketing - Free Marketing Essay - Essay UK