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Swot analysis:- SWOT analysis is a tool for auditing an organization and its environment. It is the first
stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.
MODEL INVESTIGATE First stage is gathering information from the various methods, by that information company sets up the mission and goals, third stage involves planning the strategy of plan, and later implementing that plan into practical, after implementing the plan the company monitors the performance of that plan.
HOW WILL THIS RESEARCH BENEFIT identifying your target market:-by the effective marketing plan, we can easily identify the target market and by identifying it will be easy to enter the targeted market Understanding the competition and your differentiation:-by framing a good marketing plan we can understand our competitors better and use the strategies over them setting up your marketing goals:-by the good marketing plan we can decide to set up a new marketing goals and defining your marketing strategy:-by the good marketing plan, we can define our marketing strategy projecting the costs of the marketing activities:-by knowing our marketing plan and knowing our strategies in which we are moving with, we can easily frame the budget and predict the cost of marketing activities HOW WILL THIS RESEARCH BENEFIT OURSELVS
Analyze the external environment Analyze the internal environment Define the business and mission Set corporate objectives Formulate strategies Make tactical plans Build in procedures for monitoring and controlling