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Strategic Business Marketing

Why is a SWOT analysis important for strategic business marketing? Why, in the financial aspects of marketing, is trade margin an important aspect? One of the stages in the new-offering development process is market testing. What are the advantages and disadvantages of market testing? Why is the marketing control process an important step in marketing strategy formulation? Complete your explanation by discussing the purposes of strategic control and operation control.

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Why is a SWOT analysis important for strategic business marketing?

SWOT analysis can show a firm to use its resources and capabilities in its business market in the most efficient and effective way. In other words it is a model that provides direction for the development of the most suitable marketing plan in a firm's specific business environment. We can accomplish this by doing an environmental analysis and assess the strengths and weaknesses (internal issues) with opportunities and threats (external issues). The marketing manager of a firm needs a rough outline of potential marketing activities that can be used to take advantage of capabilities and convert weaknesses and threats.

Why, in the financial aspects of marketing, is trade margin an important aspect?

In the OECD Glossary of Statistical Terms trade ...

Solution Summary

The expert examines strategic business marketing. Why a SWOT analysis is important for strategic business marketing is determined.

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