SWOT and PEST Analysis and Their Relevance to the Marketing Planning Process - Apple Inc Free Essay Example, 2250 words

The relevance of SWOT Analysis to the marketing planning process is that this tool enables a business to gather information from its immediate environment, and then to separate the information into internal (strengths and weaknesses) and external influences (opportunities and threats) (Pearce, 2007:25). Once the business has done that, it is then better placed to determine how it is going to operate within the market that it seeks to serve, through taking advantage of its strengths and the available opportunities, while improving on its areas of weaknesses, and planning to overcome the possible threats. Secondly, the relevance of SWOT analysis in the marketing planning process is that this tool helps a business to be realistic in its marketing planning process (Macpherson, et al. , 2013:42). This is because, through the application of SWOT Analysis, a business is able to understand where it is weak and the areas in which it is strong, thus enabling the business to set goals that it is able to achieve, rather than engage in setting arbitrary objectives, which the business may not even be able to realize. We will write a custom essay sample on SWOT and PEST Analysis and Their Relevance to the Marketing Planning Process - Apple Inc or any topic specifically for you Only $17.96 $11.86/page Thus, SWOT Analysis does not only assists a business in improving its current situation but also presents the business with new ideas which enhances its marketing planning for the new project that it might execute.