Today is the fourth lesson of Business. We learned swot and PEST survey methods in class.Marketing environment is the external marketing factors and forces that influence the ability of marketing management to develop and maintain successful relationships with target customers and review the past and predict the future.
Internal audit covers the capabilities and factors within the organization. External audit covers conditions and factors outside the organization. To develop the concept of the brand, identify its strengths and weaknesses. We usually analyze it by swot, which includes strengths, weaknesses, opportunities and threats. The strengths and weaknesses of SWOT can be clearly seen through the framework of SWOT. Strengths and weaknesses can be seen from the internal factors of a brand, while opportunities and threats can be seen from the external factors. PEST can be used as a basis for analysis of business and environmental factors. Generally including political, economic, technical and environmental, among external factors. Pest analysis is a very useful strategic tool to clearly understand the growth and decline of the market. It is a part of the external analysis when doing market research and gives a certain overview of the different macro- environmental factors that the company has to take into consideration. It is important to look for information about your competitors and use it regularly in your business decisions. Most businesses need a basic set of information about their competitors.
I think my weakness is that I did not analyze the threat factor deeply enough when DOING SWOT. It only writes about the influence of threat factors on brand cooperation. This is my shortcoming, therefore, I think I need more evidence to illustrate, to enrich it. My advantage is that WHEN I make pest table for brand cooperation, I clearly give favorable factors. Write down my thoughts and evidence, both politically and economically.