THE SIGNIFICANCE OF SWOT ANALYSIS IN MARKETING PLANNING

Abstract

At the present time, for entering or being in a certain segment of market you should know exactly what your goals and opportunities. Further make valid marketing plan, which includes: marketing goal and objective, marketing strategy and its implementation. The main objective of firm (enterprise) is reduce the degree of uncertainty and risk for economic activity and to ensure concentration of resources on selected priority areas by using marketing planning. Effective implementation of all marketing functions at the appropriate level will be real enough if the marketing plan is made with different marketing research.
Marketing planning – goal setting, choice of marketing strategies and the development of measures to reach them for a certain period, including a necessary marketing analyses. Reliable and competent analysis will help to develop the state of the company. Since information analysis connects marketers to markets, customers, competitors, and with all the elements of the marketing environment.
SWOT analysis is often the first step in the business analysis in a marketing plan. SWOT- analysis involves the study of the strengths and weaknesses of the company, analysis of threats from the external environment and ways to develop. In addition to identifying strengths and weaknesses, external threats and opportunities of this analysis also suggests the establishment of links between them. SWOT analysis gives a clear picture of how well the business is running and the wider marketing and sales environment are operating in.