An important part of the planning process is looking at the existing position of the business and trying to decide how factors external to the business may affect the business.

A business can perform a SWOT analysis as a way of deciding which marketing strategy to use. The business performs an audit on the internal and external nature of the business looking at the current and future situation. An audit is a review of all the business' activities.

Thinking about the use of a SWOT analysis in assessing the contribution of marketing to a business' strategy;

Possible strengths in marketing might be:

  • Specialist marketing expertise
  • An innovative product or service
  • The location of the business – convenient for customers
  • The reputation of the brand – perhaps it is trusted or recognised as the highest quality

Possible weaknesses in marketing might include:

  • Lack of a clear product differentiation compared with competing products
  • Weak distribution compared with competitors
  • Inadequate online presence

Potential marketing opportunities could include:

  • The use of technology to develop new products
  • Growing demand from overseas markets (e.g. China & India)
  • The use of social media like Facebook and Twitter to reach new customers

A list of possible marketing threats could include:

  • Competitors introducing better products at lower prices
  • Changes in the economic environment which encourage customers to be less loyal to established brands
  • Changes in customer tastes and fashions
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Study notes

What is Strategy?

Study notes

SWOT Analysis

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