What is SWOT Analysis? SWOT Analysis is a strategic business planning tool that can be used for analyzing different business situations faced by a company. This analysis allows businesses to assess their current positions in the market. It also extends to the resources and efforts required to change, sustain or strengthen that position. Four key aspects of a situation … [Read more...] about 3 SWOT Analysis Templates for Efficient Business Planning
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PEST Analysis Ultimate Guide: Definition, Template, Examples
Aside from the company’s internal resources and industry factors, there are several other macro-economic factors that can have a profound impact on the performance of a company. In particular situations such as new ventures or product launch ideas, these factors need to be carefully analyzed in order to determine how big their role in the organization’s success would be. … [Read more...] about PEST Analysis Ultimate Guide: Definition, Template, Examples
How to Do Market Analysis for a Business Plan
A business plan highlights the future objectives of a company, often relating to how the company will sell their product. It also explains proposed strategies to meet sales goals. And market analysis communicates information regarding business. But market analysis is a broad term. In a business plan, it means you must understand your market/industry and prove to potential … [Read more...] about How to Do Market Analysis for a Business Plan
The PESTEL Framework Explained: 6 Important Factors
A PESTEL analysis is a tool or framework for marketers. You can use it if you are seeking to analyze and screen the external marketing environment of your company. The strategic management tool gauges macro-environmental factors. The results make decision-making much easier. Different macro-environmental factors can affect business strategies. So, it is vital to follow the … [Read more...] about The PESTEL Framework Explained: 6 Important Factors
What is STEEP Analysis and 5 Steps to Conduct One
A STEEP analysis is a tool commonly used in marketing to evaluate different external factors that impact an organization. It is essential for every business to consider some external forces before they can take decisions. Many people have limited imagination as it is shaped by their own experience and beliefs. This tendency often leads an individual to neglect the reality or … [Read more...] about What is STEEP Analysis and 5 Steps to Conduct One
Business Analysis Tools and How to Use Them
Keeping a business afloat and also striving for growth and expansion requires you to come with techniques and systems that help you serve your customers without exceeding your budget and depleting your resources. This in turn requires that you create a profile of your ideal customer, create and test your marketing mix, promote clarity in the organization, and also invest in … [Read more...] about Business Analysis Tools and How to Use Them
Walkthrough of a Strategic Marketing Process
Marketing traditionally has been defined as informing people about the benefits of a product or service and then persuading them to pay for it. However, over the years, the process of marketing has become extensive with increased emphasis on developing relations with clients, building a strong brand image, and customer orientation (where products are designed and redesigned … [Read more...] about Walkthrough of a Strategic Marketing Process
A Concise PEST Analysis for Airline Industry
Thinking about airlines, the first thought which probably comes to mind would be luxury and comfort. However, there is much more to the airline industry than just that. Yes, most of the airlines worldwide are facing a cycle of rising operating costs and declining profits and margins. Now, passengers may not be able to observe these characteristics, but after extensive research … [Read more...] about A Concise PEST Analysis for Airline Industry
SWOT Analysis: A Closer Look at Opportunities
As you already know, SWOT is an acronym for strengths, weaknesses, opportunities and threats, which are the four strategic elements of this analysis. The main purpose of SWOT analysis is to provide a thorough overview of your business’s current position and future roadblocks and possibilities. As a result, it is used by businesses for a variety of planning processes that range … [Read more...] about SWOT Analysis: A Closer Look at Opportunities
Conduct a SWOT Analysis of a Business in 3 Quick Steps
Routinely conducting a SWOT analysis of a business will provide incredible value. You might wonder why your business would need a SWOT analysis in the first place. Just the name of it sounds far too serious for a business. However, if you believe it is nothing but a useless exercise, you are far from right. The size or scope of your business doesn’t matter, you will find … [Read more...] about Conduct a SWOT Analysis of a Business in 3 Quick Steps