Different Marketing Techniques Used to Analyze an Organization

Marketing lecture 3: SITUATION ANALYSIS This involves a thorough study of the broad trends within the economy and society, and a comprehensive analysis of markets, suppliers, competitors and the company itself. There are a number of marketing techniques that can be used in analysing an organisation’s environment. These include the following: SWOT Analysis: Thi i an overall evaluation of a A l i This is ll l ti f company’s strengths, weaknesses, opportunities and threats. Strengths and Weaknesses are internal and can be controlled by the organisation whilst Opportunities and Threats are external. The objective of SWOT analysis is to identify and convert threats into opportunities and weaknesses into strengths.
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SWOT ANALYSIS
Strengths refer to an organisation’s capabilities or aspects of its business that it does better than its competitors. For example: •Coca Cola has a strong brand name •Marks and Spencer is noted for its high quality products •John Lewis for its high levels of customer service •Apple for its product innovation Weaknesses refer to aspects of an organisation’s activities that it does not excel in. For example, •Lidl is criticised for its poor customer service. •Macdonald’s for its ‘junk food’ label 2 • Virgin trains for lateness or delays to train times

SWOT ANALSYSIS (2)
Opportunities are aspects in the business environment that the organisation can capitalise upon or take advantage of. For example, •Tesco using its huge customer database to offer or diversify non-grocery products such as insurance, credit cards and loans. Threats are aspects in the business environment that pose a challenge or can hamper the organisation from achieving its objectives. For example, •Competitors •Government legislations •Natural disasters such as earthquakes or floods
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Opportunities
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Weaknesses

Threats

PESTLE ANALYSIS
This is mainly used to analyse the wider macro-environment in which the