Business

SWOT ANALYSIS ON MARKETING PLAN 1

SWOT Analysis in Development of Marketing Plan

Folashade Aina

Intro to Business

Professor Yorkshire

October 8, 2021

SWOT analysis (strengths, weaknesses, opportunities, and threats) is a strategic organizational technique that helps businesses build long-term strategies and make crucial strategic decisions. SWOT analysis is commonly used to gain a comprehensive understanding of the factors influencing your organization's viability. Marketing, on the other hand, is the activity and methods of developing, interacting, providing, and trading value-added solutions for consumers, partners, clients, and community as a whole.

For a globally recognized company such as Apple Inc., the adoption of SWOT outputs in developing its product mix and targeting customers is critical. Apple ensures that they maximize their strengths, minimize their weaknesses, create opportunities and be on the lookout for any possible threats in the future. In terms of power, Apple focuses much of its energy launching of new products like Apple TV+ and iPhone series, which is a great strength to reinvent your product line continuously (Demir, 2017). Apple is working on its weaknesses, such as evaluating its high prices on its products and fixing claims on defective products.

Apple Inc. has also been looking for ways to provide more excellent value for its consumers' money. High market share and brand awareness are examples of such opportunities, where Apple is witnessing rising demand for its numerous devices.Apple is in the process of keeping threats to its call at bay, such as holding on the lookout for technology changes, android OS growth, Covid 19 pandemic, which affected the company's yearly revenue to about 20% in 2020 (Yunita, 2020). There is also the issue of the strength of the dollar currency.

Finally, Apple's SWOT study shows that the company's strengths and opportunities offer a tacticalbenefit over its weaknesses and threats, owing to its reputation and consumer devotion. However, it will benefit the company to solve the flaws mentioned above by establishing effective management procedures and removing any threats that it may face in the future.

References

Apple is trying to resolve many of their marketing and management problems. (2017, June 30). Ana Sayfa » DergiPark. https://dergipark.org.tr/en/pub/pap/article/371371

The application of SWOT analysis as a basis for determining marketing strategies | Enrichment: Journal of management. (n.d.). Enrichment: Journal of Management. https://www.enrichment.iocspublisher.org/index.php/enrichment/article/view/16