Marketing Plan and SWOT analysis

Document Type:Thesis

Subject Area:Marketing

Document 1

However, a marketing plan is used to communicate to the customers on the value of goods and services, marketing personnel as well use marketing in order to come up with the right decisions of positioning the product in the market. They set goals which are aimed at providing directions on how marketing should be done as well as having an overview of the market. Through the marketing plan, the organization can as well be able to understand its position in the market through the assessment of diverse options which are available in the market. A good marketing plan is a driving force to the realization of the company long-term goals. There are also different marketing plan components for a marketing plan which are essential for the development of the marketing plan.

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A good marketing plan will as well be a tool for dealing with competitors through perfecting its focus in the market; many organizations have widely used a marketing plan as a way of projecting the future of the organizations through analyzing its current situation and projecting to what will likely to happen in the future. Part 2 The SWOT analysis is an approach which is used by organizations to audit a business and its surrounding environment both internally and externally. Every organization has factors which influence its operations both internally and externally hence the SWOT analysis is indeed a viable tool to ensuring that all these factors are recognized and the organization is able to understand its implications to its operation. Generally, the SWOT analysis is the initial stage of planning of any organization because it is the mother of all these factors (Fine, 2017).

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The Acronym for the SWOT analysis is Strength, Weaknesses, and Opportunities and Threats. The company can analyze its marketing strategies and develop a suitable marketing strategy such as product promotions and sampling which will attract or inform the prospective customers of the existence of the product in the market (Paley, 2017). In so doing they will be able to pull more customers whom they will provide them with suitable deals so that they can remain loyal to the company products. Conclusion In conclusion, a marketing plan is indeed an essential tool for the good positioning of the company in the market. Through the SWOT analysis the organization can be able to understand and analyze both the internal and the external factors of the business environment hence turning threats and weaknesses into strength and opportunities which they can be able to critically evaluate and come up with a long lasting solution as well as a more clear understanding of the business environment.

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