Explainations of Business Analyses and Segmentation

Explain SWOT Analysis.

SWOT Stands for Strengths, Weaknesses, Opportunities’ and Threats of a organization. SWOT analysis determines what may support the firm in every critical ways in which they can achieve its objectives and what difficulties must be taken down to achieve the objectives. SWOT analysis is a basic factor of an organization that evaluates what an organization is capable of and what it is not capable of. SWOT analysis is a way to receive all kind of the information from the external and internal environmental issues of a particular organization. It shows up a difference what could the business lead to improvements in a particular based analysis, what it will show up in future and the difficulties it will face. It is a technique used to help the marketing department.

Strengths – This factor is the capabilities that can be performed in a business to increase in productivity and sales, It shows up what a firm is capable of and what it is not likewise:-

- Effective sales and marketing - Strong leadership

- Political Support - Good reputation

- Qualified Research and development - Economies of scale

Weaknesses – This factor shows in what condition and situation the businesses are weak, what the business will launch in further and what will be its side effects, the absence of certain strengths can be viewed as a weakness. Likewise:-

- Lack of trained faculty - Poor quality

- Focusing into mega products - Many competitors at similar production

- Weak Image / Reputation - Low investment in infrastructure

Opportunity – This factor concludes all the chances that a business has to expand its business or expand its sale...

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...the similar product or replicated over changes.

- Segments should be large enough to attract consumers with their choices of production and to gain profit.

- Segment should be available and easily get to the channels of communication and distribution, to have transportation, sales activity to reach to its consumers.

- Segments should have all marketing mix variables to achieve its objectives and to respond to consumer changes.

ii) Explain Targeting.

Targeting in a marketing term is the advertising and marketing promotion that is targeted for a particular group of potential buyers and people, such as relating to their age, gender, and region. It mostly depends on the process that involves breaking a markets product into different segments; it focuses on how they will sell their products and services to a specific buyer and the new users of the product.