allow businesses to target advertising details to a specific audience through a number of criteria such as: age, gender, language, geographic location and even the behavior of potential customers. To find out the long-term competitive advantage and strategic marketing directions for the company’s products, marketing managers must conduct an extremely important step, which is swot analysis. So what is swot? learn about: digital marketing what is swot? Swot is a visual research tool used to compare with competitors.
The creation of the swot matrix
is historically credited to albert humphrey of stanford university in the 1960s, but the credit is disputed. Albert humphrey led the research project that developed the group action model (tam), a concept that allows executives to manage changing business environment factors. The term swot originated from his “stakeholders concept and swot”. However, when further research was conducted on the authors in the academic community, there was no exact publication that recognized his idea.
That is why more than 60 years
have passed and the origin of swot is still a mystery. Elements of swot swot is made up of 4 elements: 1. Strengths; 2. Weaknesses; 3. Opportunities; 4. Threats. Swot analysis should be performed for each product in each specific target market as a basis for developing marketing plans for the products in that market. 1. Strengths and weaknesses analyzing strengths and weaknesses is to evaluate the current and potential resources of.
The main resources that need
By comparing these factors with those of competitors, businesses will 99 acres database discover their unique competitive capabilities. Marketing strategies must be consistent with the resources of the business, demonstrating strengths and avoiding weaknesses. In addition, marketing managers must also evaluate the impact of functional departments and staff on the marketing activities of the enterprise. Each department and individual has specific tasks and operational goals.
Each enterprise also has its own
behavioral culture that affects the atmosphere and working efficiency of everyone. The activities of the marketing department are only effective when supported and cooperated by all other functional departments. Opportunities and risks opportunity and threat. Analysis is the assessment therefore, the marketing strategy involving influencers of the impact of market conditions and the macro marketing environment. Businesses must analyze all internal and external factors that have a positive or negative impact on business operations or marketing department decision-making, and on the ability to establish and maintain relationships between businesses and customers.
Marketing managers need
to evaluate based on 3 major groups of factors. Market size, structure, movement and behavioral characteristics of customers in the market); – industry and buy lead competitive environment : suppliers, competitors, marketing intermediaries and mass media; – macro marketing environment : economic, political – legal, population, technological, cultural – social and natural situation. To identify the opportunities and threats that these factors create for the business’s marketing activities. These are all factors beyond.