Swot Analysis Marketing Planning Process - 1987 Words

Introduction This essay will critically evaluate the contribution that SWOT framework has brought to the marketing planning process. The essay will firstly explain the importance of SWOT used as an analysis tool in the field of marketing and concisely introduce the definition of SWOT along with the case of Coca Cola Company as an example. Next, the disadvantages and advantages of SWOT framework will be discussed in order to realize how the model was used in reality and theoretically. After that, there will be a few cases of SWOT being misused by the managers and marketers. Subsequently, the possible solutions of how the model can be used more effectively and efficiently will be given. The definition of SWOT Marketers consider internal auditing when they want to learn more about the situation within the organization, while investigate the external audit when they long for the information about outside environment. One of the tools that can help marketers to realize the internal and external factors of an organization is SWOT analysis framework. (Wood, 2007) The origin of SWOT can be traced back to 1960s during a seminar in Zurich and the framework was originally introduced by researches of Harvard University (Learned et al., 1965). The acronym for SWOT is strengths, weakness, opportunities and threats. Strengths are a firm’s resources and capabilities that can be employed as a foundation to facilitate it to achieve objectives and mitigate threats (Wood, 2007). For instance,Show MoreRelatedSwot Analysis Of Marketing Planning Procedures1303 Words   |  6 Pages The SWOT Analysis and its Importance in Marketing Planning    Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   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. 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