Swot Analysis : Marketing Concept

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

Brand reputation valued at $7 billion. Through nestles brand equity Nestlé is known almost everywhere and has a reputable brand for its products that are used by millions every day.

Clinical architecture: Pre-coordinated term is a term that was coordinated and assigned a code before you needed it. Post-coordinated term is a term you assembled from other terms at the point when you needed it.

Quick to react to market trends due to its supply chain design, operation & delivery

The nestle had been a very reputed and key company in the market of milk and chocolates and food products, but it had been a long time since they had introduced anything new in the market. So they decided to enter in the market of Coffee machines manufacturing. Although being a multi-dollar Company but still their reputation was at stake as they had been serving the customer with the best possible quality in all aspects.

Step #3 - Identify your needs (to provide product/service so that it satisfies the Customer)

Businesses in the same industry compete against each other to meet their organization goals and sustain competitive advantage over one another. But to meet those goals, it’s important for businesses to analyze their internal and external environment to allow them to come up with new business strategies beneficial to the business. Firms can use SWOT as a starting point. SWOT is a basic technique that can be used by business owners to analyze their business and industry condition (Dess, G., Lumpkin G.T., Eisner, A., McNamara, G, 2013). Using SWOT will help business owners understand the strengths, weaknesses, opportunities and threats of their business. It would help them analyze and come up

Throughout my college career, I have been involved in a wide variety of organizations and internships that not only refined my business skills, but also provided me the realistic experience in the business realm. I have experienced a wide-range of activities and work that span from selling automobile parts to providing services to patients recovering from substance abuse and mental illness. Throughout this journey, I was given an opportunity to not only develop my business marketing skills, but allowed a glimpse of the industry (and the systematic process of that particular field) as well. One particular occupation that sticks out is the sales position at RadioShack. During my freshman year in college, I began working at RadioShack to

“although marketing has basically an strategic conception of the selling activity, we use to distinguish between strategic marketing and operational marketing, depending on long term or short term objectives. Strategic marketing starts in thoughts about current situation of the

The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

Applying SWOT as a planning tool will identify goals and development of your firm’s objectives in the decision-making process. As Corina and Alexandru (2008) point out from their research, “In a permanent changing environment, the measurement and monitorisation of the performance of a company has become one of the key issues for its success” (p. 1072). Utilizing this planning tool of SWOT will establish a specific strategic plan through external environments and internal problems integrating this into a more comprehensive goal and strategy for the firm. Vital to the SWOT planning tool, is identifying our organization’s strengths, weakness, opportunities, and threats that affect our organization’s performance. Accomplishing this through drawing on all available resources from customer to social media, and from acquaintances in other similar organization, is to whom you conduct business with being subcontractors, suppliers, banks, and professional organizations (Daft, 2014). Further, we develop a better understanding how our company is operating and performing, and gain insight as to giving more attention to the weaknesses, and maintaining our strengths through measurement and monitorisation.

        In order to run a thriving business, you must be very knowledgeable about your customers, operation, competitors and the environment. When it comes to market planning many important factors must be taken into consideration. According to the business dictionary market planning is the procedure of examining one or more of prospective marketplaces in order to decide how business can compete with them. The marketing planning procedure normally concludes with a marketing strategy that can be used to increase sales for the business making it. This essay will discuss the SWOT analysis in regards to marketing planning, and its importance in the planning procedure

In 2014, Amazon controlled 16.2% of the market share in the U.S. E-Commerce market with sales revenue exceeding $88.9 billion. In comparison, our second largest E-Commerce competitor holds controls only 1.7% of the market with revenues of $17.9 billion in 2014, about a fifth of our total revenue. (Carter). In addition to the large market share of E-Commerce as a whole, we also hold 3.1% of all online grocery sales, only 2.3% less than that of the company with the largest market share percentage, PeaPod (McKitterick).

In order to develop a marketing plan or strategy which can identify preferred and likely directions, the firm can conduct a SWOT Analysis which is a general and quick examination of a business’s current position. The SWOT Analysis