how SWOT analysis is used in the strategic planning (marketing Strategy) process ?
Marketing strategy is a designed to achieve a long run objective. So. to design a marketing strategy, you should do some homework. You should do indepth analysis of the taste / preference / requirement of your market. This will let you know the Opportunities. Now you should find out your competitors and how strong they are in the market as well as what product benefits they are offering to the market. This will let you know the Threats involved.
Now, you should find out the resources (like funds, the office building, the location of building, the quality and sufficient quantity of staffs). available with you. All of these will let you find out your strangths and weaknesses.
This is why and how SWOT is used for making a marketing strategy
what is the difference between Marketing Management and strategic management?
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