SWOT Analysis in Strategic Marketing Planning

Question: Discuss about the SWOT Analysis in Strategic Marketing Planning. Answer: Introduction: Marketing is the first step for British Airways towards the attainment of firmness in the reputation. The earlier sentence contradicts the third position of the concept of marketing in the lecture slides. As a matter of specification, marketing is the assemblage of buyers and sellers. Effective adherence to the standards and codes of market legislations help the organizational personnel to indulge into fair completion with the contemporary brands. Typical example in this direction is the competition policies. Here, the example of joint venture with the Marks and Spencer proves beneficial in terms of introducing lucrative deals, trades and transactions with the buyers. Herein, lays the consciousness of the organizational personnel towards the purchasing power of the customers. This consideration is the foundational base towards efficient and effective marketing (Gordon 2012). Market research is a beneficial tool in adding firmness into the position of the organization within the compe titive ambience. The behavioral conduct of consumers can be considered as a segment of marketing. Delving deep into the mindset of the customers adds appropriateness within the action of marketing. From this perspective, the step of coloring of the tail of the plane proves appropriate. This step reflects the attempts undertaken by British Airways to influence the purchasing decisions of the customers by adding spice and variety in the life of the passengers (Kim et al. 2012). Provision of free foods by the organization facilitates the low-income group customers, which ceases with the aspect of charging. The aspect of charge subside the purchasing power of the customers. This motive compels them to suffer from inferiority complex, which bears correlation with the poor quality of decision-making (Ayub et al. 2013). This maintenance highly influences their purchasing power and buying decisions. Target segmentation is the stage, which leads to the minds of the customers. Bearing in mind the lifestyle, income, specific tastes and preferences of the customers helps the organizational officials in the achievement of positive results. The decision to charge for the foods acts as a deviation of this consideration. Marketing mix is a typical example, which would prove beneficial in identifying the target of the organization. The attribute of efficiency relates with the addition of value in the profit margin, which possesses flexibility for the organization to penetrate into foreign markets (Wan 2012). Consideration of internal and external environment acts assistance for British Airways in expanding their business. Beautification of the internal environment leads to the modification of the external environment. Herein, lays the symbolic significance of the inbound and outbound logistics of the value chain analysis. Herein, lays the financial flexibility to engage into joint venture with Marks and Spencer. This flexibility helps the organizational personnel to maintain the equilibrium between the supply and demand, which is a gradual progression towards the attainment of sustainable growth (Ayub et al. 2013). References Ayub, A., Razzaq, A., Aslam, M.S. and Iftekhar, H., 2013. A conceptual framework on evaluating SWOT analysis as the mediator in strategic marketing planning through marketing intelligence.European Journal of Business and Social Sciences,2(1), pp.91-98. Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix.Australasian Marketing Journal (AMJ),20(2), pp.122-126. Kim, K.H., Jeon, B.J., Jung, H.S., Lu, W. and Jones, J., 2012. Effective employment brand equity through sustainable competitive advantage, marketing strategy, and corporate image.Journal of Business Research,65(11), pp.1612-1617 Wan, X., Evers, P.T. and Dresner, M.E., 2012. Too much of a good thing: The impact of product variety on operations and sales performance.Journal of Operations Management,30(4), pp.316-324.