| Organisations do not operate in isolation. Although
managers may be able to direct internal resources, many things
that affect an organisation are beyond a manage's control. For
convenience and to aid our memory we can classify external events
under one of four headings:
- political,
- economic,
- social;
- technological.
A key task for marketing managers is to understanding how these
factors affect their organisation. To do this they must also have
a good understanding of internal strengths and weaknesses. From
this they can assess opportunities and threats. Of course, they
must also appreciate that other organisations - their competitors
- are making similar assessments. A manager must therefore also
take possible competitor activity into account when formulating
strategies (plans) to exploit opportunities and counter threats.
| Figure 4.1 External and internal
analysis |
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