Marketing Concrete:SWOT Analysis

SWOT:

Well often heard word. right ?

Yeah..

But it do have one fundamental usage in the field of marketing and analysis.

Marketing research and analysis team in any firm deals with this word in day to day life to exemplify their product and evaluate the needs of the consumers.

Marketing is all about understanding and meeting customer needs.

Real time marketing takes advantage of current events in producing timely communication that reaches the market quickly and efficiently. Whatever may be the scenario,SWOT acts like a cherry on the cake which ultimately helps in the overall progress of the product in a substantial manner.

So What is SWOT ?

S-STRENGTHS

W-WEAKNESS

O-OPPORTUNITIES

T-THREATS

It is mandatory to be aware about the strength of the company. It gives an overview about the future needs and basis among the customers.The knowledge about the weakness is an unavoidable aspect as one needs to know about the weakness or the shortcomings of the product to be launched. The opportunities off course gives a new dimension and strength to the product basement. More the opportunities more will be the needs and which will eventually help in expertise and marketing. Threats — to be aware of the competitors in the market is essential and will help to revolutionise the brand in the market.

Segmentation and Market research leads to target more consumers and establish quality over quantity in a broad way. The objectives of the market research focuses on collecting data from the past or present and making decisions on the basis of the future requirements.The key insight to any marketing team broadly involves to establish a permanent growth of the products. But market is dynamic according to the varying interests of the consumers, therefore a perfect planning structure is required to popularise the product in a more general way.

The dynamic marketing environment and establishing the need for the product among the users is necessary for the growth of the firm. The awareness about the Competitions in the market, the Customers and the Company is helpful to implement the tools of SWOT in the business analytical world.

Strengths and Weakness are internal but the Opportunities and Threats are external. The efficient implementation of the SWOT tools can help in the business growth both internally and externally.Business is a dynamic game and Marketing tends to be one of the key levels in it.