Marketing Assignment Example | Topics and Well Written Essays - 2500 words

Marketing - Assignment Example The purpose of SWOT analysis is to provide a realistic appraisal of the firm and the environment in which it operates. SWOT provides a basis for the formulation of realistic goals and objectives and strategies for their implementation. Without a SWOT analysis the firm's planning process is fatally flawed. Planning is an information-based activity and, without information planning, quickly degenerates into a political exercise in selling individual biases and preconceptions. Further complicating matters is that if SWOT is not essentially conducted, there is no basis upon which to assess progress toward the accomplishment of goals and objectives; and the accountability upon which managerial control is based also quickly degenerates. There are significant benefits to SWOT. By the identification of the strengths and weaknesses of the organization, strategies can be designed to efficiently allocate the organization's resources, hence increasing overall organizational effectiveness. SWOT c an identify profitable opportunities and high-risk ventures that enhance the firm's effectiveness. Preventive measures can be designed to avoid major environmental threats that may save large amounts of resources that might otherwise be required to correct damage from those environmental threats. ... There are several environments in which a firm functions. These environments are the economic environment, the sociopolitical environment, and the technological environment. Each of these environments has important components and implications for the strategic planning process. The economic environment consists of both factor and product markets considerations. The availability of supporting market structures, intermediate goods, labor, and the price levels within these areas will determine the costs of production for the firm. The product market; its relative competitiveness, whether it is expanding or contracting; and its continued viability will determine the ability of the firm to generate revenues from that market. The case presented here examines the crisis and ongoing problems of Marks & Spencer, one of Britain's best known retail brands that has experienced after many years of unbroken success. The case examines the factors that contributed to perhaps the most serious threat that the company has faced in its over 100-year history and identifies the implications for the company's future public relations strategy. Marks & Spencer (M&S) is one of the UK's largest, best-known retailers and their brand has been synonymous with reliability, value and quality for generations. Marks & Spencer has been viewed as setting the standards that other retailers have striven to match over the years and, until recently, was recognized as one of Britain's best-managed companies with an enviable track record of successful growth and profits. The company has consistently been rated as Britain's 'most favored company' in surveys among business leaders. The name