Managing the marketing function begins with a complete analysis of the company's situation. a thorough SWOT Analysis is typically undertaken to guide decision-making.
A SWOT analysis helps identify a company's strengths, weaknesses, opportunities, and threats. It guides you to develop what you are good at, address what you lack, seize new opportunities and mitigate risks. Apply SWOT analysis to assess the company's position before deciding on a new strategy.
A SWOT analysis can identify niche markets where a company has a competitive advantage. It also helps individuals plan a career path that maximizes their strengths and warns of threats that may hinder their success.
A SWOT analysis provides companies with the information they need to develop several alternative business strategies and make strategic choices.
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