What is a SWOT Analysis, and Why is it Important

SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. Conducting a SWOT analysis is an important exercise to enable you to see where your business is in the marketplace and what strategies you can develop to increase your market share.There are two main processes to developing your SWOT analysis. Firstly you need to examine the external factors that will influence and impact on your business. Then you can explore how these factors relate to your business in order to determine your Strengths, Weaknesses, Opportunities, and Threats.

The 5 external factors that will affect your business operations are:

o Social and cultural trends
o Technological tendencies
o Economic movement
o Political and legal requirements
o Competitors

Write down the external factors that you believe will possibly impact your business.

The e-Marketing Plan - Brief Overview and Working Scheme

 

The marketing planning (concretized in the marketing plan) is an essential organizational activity, considering the hostile and complex competitive business environment. Our ability and skills to perform profitable sales are affected by hundreds of internal and external factors that interact in a difficult way to evaluate. A marketing manager must understand and build an image upon these variables and their interactions, and must take rational decisions. Let us see what do we call a "marketing plan"? It is the result of the planning activity, a document that includes a review of the organization's place in the market, an analysis of the STEP factors as well as a SWOT analysis. A complete plan would also formulate some presumptions on why we think the past marketing strategy was successful or not. The next phase shall present the objectives we set, together with the strategies to achieve these objectives. In a logical sequence, we will further need to evaluate the results and formulate alternative plans of action. A plan would consist in details of responsibilities, costs, sales prognosis and budgeting issues.

In the end, we should not forget to specify how the plan (or plans) will be controlled, by what means we will measure its results.

We will see how to build the marketing plan, what is its structure: after we will see how to build the traditional marketing plan, we will take a look at the e-marketing plan and see how the unique features of the internet will require some changes in the approach of writing a marketing plan.

But, before we continue, we must understand and accept that steps of the marketing plan are universal. It is a logical approach of the planning activity, no matter where we apply it. The differences you meet from a plan to another consist in the degree of formality accorded to each phase, depending on the size and nature of

Devising the Best Marketing Plan to Succeed

When it comes to real estate industry, the investor with the best marketing tool wins. Yes! It is equally imperative that a person frames out some strategic marketing plan to make sure that the line of attack is on the right track. Initially it is better to have some safe real estate for that better beginning and to perk up with that it is better to follow the necessary strategies and there are certain queries which should be cleared off and they are mentioned below:

1. What is your financial statement?

2. Who is your target audience?

3. What is that you are in need of from your target audience?

4. Who are your rivals? How do they get to your address? What openings are they losing?

5. Identifying the core strengths, and how do those make a distinction from your rivals?

6. What incentives can you proffer that your rivals don't/can't?

These are the basic stuffs that should be contemplated on; moreover it acts as a great lead to the marketing plan as well. It is imperative that these queries are listed out accordingly and answered such that it will help you out to devise an

Fashion Marketing Planning

What's in a fashion marketing campaign?


This article explores the components of a fashion marketing plan and how fashion brands can enhance their marketing strategy. Fashion marketing is concerned with meeting the needs, wants, and demands of your targeted consumer, and these goals are accomplished using the marketing mix.

Fashion marketing is distinct from fashion public relations in that fashion PR is solely concerned with communications and how the brand communicates with and resonates with it's targeted consumers.

A fashion marketing plan focuses on four essential concepts: 1) product development, 2) distribution management, 3) communications, and 4) cost. In order to implement an effective marketing campaign, the marketing mix must be consumer centric and focused on niche markets rather than catering to mass markets. This concept simply means that the marketing strategy and implementation should have consumers and their needs, wants, and demands in the forefront and with a very defined market that it intends to target.

Niche marketing is more focused and cost-effective and allows the marketer to focus on a particular market segment. Otherwise, a mass marketing campaign is all over the place and lacks a defined consumer to market to.

As an example, imagine if the luxury brand Louis Vuitton was a mass retailer and did not cater to a niche market. Essentially, this would mean that Louis Vuitton would market its products to the masses, when in fact this is unrealistic. Louis Vuittton's price point does not allow the brand to cater to the masses, which is why the brand channels all of its marketing communications to the luxury market. However, that does not mean that the brand is off limits to consumers who do not exactly fall into the luxury market; it just means that the communications strategy and the brand identity would resonate more with consumers in the luxury market. This approach allows the business to remain competitive and effective in its strategic approach.

By Fabiola Fleuranvil