Nov 14 As discussed in my previous articlea marketing audit is a review of the marketing resources, objectives, strategies, activities and efficiency. We need a marketing audit in order to measure our commercial progress, to identify weak aspects and improve the marketing activity.
The SWOT analysis framework has gained widespread acceptance because of its simplicity and power in developing strategy.
Just like any planning tool, a SWOT analysis is only as good as the information that makes it up. What is happening externally and internally that will affect our company? Who are our customers? What are the strengths and weaknesses of each competitor?
Think Competitive Advantage What are the driving forces behind sales trends? What are important and potentially important markets? What is happening in the world that might affect our company?
What does it take to be successful in this market? List the strengths all companies need to compete successfully in this market.
What do we do best? What are our company resources — assets, intellectual property, and people? What are our company capabilities functions?
How are we different from the competition? What are the general market conditions of our business? What needs are there for our products and services?
What are the customer-market-technology opportunities? Customize your internal and external analysis Use the OnStrategy Solution to build a strategic plan that leverages your internal and external analysis. An evaluation needs to be completed drawing conclusions about how the opportunities and threats may affect the firm.
Select which competitors to attack or avoid. The Internal Analysis of strengths and weaknesses focuses on internal factors that give an organization certain advantages and disadvantages in meeting the needs of its target market.
Strengths refer to core competencies that give the firm an advantage in meeting the needs of its target markets. Weaknesses refer to any limitations a company faces in developing or implementing a strategy. Weaknesses should also be examined from a customer perspective because customers often perceive weaknesses that a company cannot see.
Being market focused when analyzing strengths and weaknesses does not mean that non-market oriented strengths and weaknesses should be forgotten. Rather, it suggests that all firms should tie their strengths and weaknesses to customer requirements.
Only those strengths that relate to satisfying a customer need should be considered true core competencies. The following area analyses are used to look at all internal factors affecting a company: Profitability, sales, product quality brand associations, existing overall brand, relative cost of this new product, employee capability, product portfolio analysis Capabilities:The successful execution of a marketing plan can involve planning for elements over which you have no control.
A SWOT (strengths, weaknesses, opportunities, threats) analysis is a comprehensive. Internal factors that may affect the business organization include innovation, financial and operational factors along with strategic and employee risks. The SWOT matrix is a structured planning method.
You can use SWOT analysis to analyze your company and its environment. It assesses the strengths, weaknesses, opportunities, and threats. Internal & External Factors That Affect an Organization. refers to the people in your organization that make all the major decisions regarding financing, budget, sales, marketing, and human resources.
rather than the ‘what’ of a company is the key to providing your employees with the motivation and buy-in that affects how hard they. The task environment consists of factors that directly affect and are affected by the organization’s operations.
These factors include suppliers, customers, competitors, regulators and so on. A manager can identify environmental factors of specific interest rather than having to deal with a more abstract dimension of the general environment.
The external audit is an examination of the forces external to the company that impact upon the firm’s operations and future direction. A simple tool for performing this analysis is the PEST framework (political, economic, social and technological) within with environmental forces can be .
4 carry out organisational auditing and analysis of external factors that affect marketing planning in a given situation write a marketing plan for a product or a service evaluate an organisation’s capability for planning its future marketing activity examine techniques for organisational auditing and for analysing external.