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SWOT Analysis

SWOT Analysis. The importance of a marketing plan. What is it?-a company takes a critical look at itself. An assessment of a company’s (internal) s trengths and w eaknesses, and the (external) o pportunities and t hreats that surround it. In order to develop a marketing plan.

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SWOT Analysis

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  1. SWOT Analysis The importance of a marketing plan

  2. What is it?-a company takes a critical look at itself • An assessment of a company’s (internal) strengths and weaknesses, • and the (external) opportunities and threats that surround it. In order to develop a marketing plan

  3. In SWOT, strengths and weaknesses are internal factors. • A strength could be: • A new, innovative product or service. • Location of your business. • Quality processes and procedures-Dell. • Global presence

  4. A weakness could be: • Lack of marketing expertise. • Undifferentiated products or services (i.e. in relation to your competitors). • Location of your business. • Poor quality goods or services. • Damaged reputation.

  5. In SWOT, opportunities and threats are external factors. • An opportunity could be: • A developing market such as the Internet. • Mergers, joint ventures or strategic alliances. • Moving into new market segments that offer improved profits. • A new international market. • A market vacated by an ineffective competitor.

  6. A threat could be: • A new competitor in your home market. • Price wars with competitors. • A competitor has a new, innovative product or service. • Product recalls. • Taxation is introduced on your product or service. • The cost of one of your supplies is going up

  7. The Plan… • Read Ben & Jerry’s SWOT • Highlight as you read • Select 2 significant points from each quadrant and plot on SWOT grid. • Answer question --how do you expand success, capitalize on opportunities, prevent threats from materializing?

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