The third step in the marketing planning process is an internal and
external analysis of the strengths, weaknesses, opportunities and
threats.
Explain what this would involve for the marketer.
The third step in the marketing planning process is an internal and
external analysis of the strengths, weaknesses, opportunities and
threats.
Explain what this would involve for the marketer.
Internal appraisal covers the product mix audit, production capacity and
capability, servicing facilities, financial capability, research and development
potential and marketing organization.
External appraisal is mainly on strategy to take advantage of the
opportunities and the threat of the market place and economic environment
within which an organization operates. This would involve the marketer
because the strategy which is good must conforms to profit requirements
and company policy.
This would involve the marketer because the marketer must be capable of
environmental scanning which involves the marketing auditing of past history
and future trends of the company. He must also consider the appraisal of
marketing strengths and weaknesses and the premises which the marketing
plan is based on.
The marketer must take into consideration an examination of the nature and
extent of demand, present competitive activity and the financial resources
and skills of the firm. The marketer must be able to use SWOT analysis to
summarize the key factors affecting the company: the strength and threats
and also use the PEST analysis which refers to macro-environmental
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