Opportunity External environmental factors

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In addition to analyzing the company's internal status, you must also identify external factors to establish a marketing strategy. Competitor Competitors competing in the same market should also be identified. This is the step to check how other competitors are approaching, who they are, and whether new competitors will emerge. After analyzing the 3Cs, we segment the market and select the most appropriate market to target. It then ends with introducing the services and products provided to consumers. This process is called STP strategy and is divided into Segmentation, Targeting, and Positioning. SWOT analysis Marketing Strategy - SWOT Analysis Marketing Strategy – SWOT Analysis SWOT analysis is one of the essential analyzes in marketing strategy. Among the 3C elements mentioned above, Company is used when analyzing a company. In SWOT analysis, S and W are used to analyze the company's internal environment, and O and T are used to analyze the external environment.


S – Strength It refers to the company's strengths and is an element that has a positive impact Cambodia Phone Number Data on the company and its services and products. Simply put, it can be said to be the competitiveness of a company. For example, it may be a company that possesses exclusive technology, or may be a person with excellent customer trust or capabilities. You can develop a marketing strategy that stands out by taking advantage of competitive advantages that do not exist in other companies. W – Weakness Unlike S, it refers to factors that have a negative impact on the company, its services, and products, and refers to the company's weaknesses. The company's weaknesses include lack of teamwork and low quality of products and services. In this way, you need to figure out what your company is lacking and come up with a strategy to make up for it. O –  that have a positive impact on a company and its related services and products. You can understand this as providing a good opportunity for companies. If we take a digital marketing company as an example, this is a very big opportunity as Google's market share exceeds 90%. This is because you can receive requests from customers who want SEO.



You can use external trends to turn them into opportunities that will benefit your business. T – Threat Opposite of O, it means threat. External environmental factors that have a negative impact on companies, services, and products. If competition in the target market is too high or consumers change their minds, it can pose a threat to a company's marketing strategy. Marketing Strategy Course Research the market The first step in the marketing process is to understand the market and customer needs by analyzing the patterns of what and how consumers consume. local information Target country information Areas of interest to customers How much customers can pay for your interests Amount available for investment The above information is intended to understand what consumers want. Based on this, we conduct market research and create a framework for the marketing strategy process.