REFLECTION ON SWOT ANALYSIS

For three weeks, my class studied the fundamentals of marketing. I am particularly fascinated
by learning about SWOT analysis (strengths, weaknesses, opportunities, and threats).

In order to systematically examine an organization's internal and external surroundings, a

SWOT analysis is a useful tool for decision support systems. (Kangas et al., 2003; Kurtilla et al.,
2000, p. 46; Yuksel and Dadeviren, 2007). In accordance with the existing state of a business,
Petraq Papajorgji (2013) claims that the main goal of a SWOT analysis is to discover the sub-
factors of each significant aspect for future management planning. In addition, I think I can use
SWOT analysis to assess my rivals. Once I have a general understanding of my rivals, I can
develop strategies to counteract their advantages, profit from their weaknesses, exploit any
opportunities they present, and manage any dangers they pose. Almeida, Fernando, and José
Santos (2018) concurred that accurate information is essential for a SWOT analysis to function
well. Below, we'll go over the methods and some instances of competition SWOT analyses.

Marketers should think about the following queries when assessing competition strengths: What
do your rivals excel at? What pulls customers to their business? Why do their clients pick them?
Nowadays, Vietnam boasts a wide range of airlines. Nguyen Quy (2020) claims that the sole
airline that flies between Ho Chi Minh City and Can Tho to Con Dao is Vietnam Airlines. As a
result, Bamboo Airways decided to operate a direct trip from the capital to this island, becoming
the first airline to do so, perhaps after realizing that tourists in Hanoi had a strong desire to visit
Con Dao.

Moreover, you should think about inquiries like: Have you heard any complaints regarding the
goods or services of your competitor? Are there any features that your rivals should have but
don't? According to Hoang Manh Gioi of Dan Tri News (2022), Vietnam's app-based motorcycle
services are now more expensive as a result of rising gasoline expenses. BeBike's first two
kilometers will cost VND 14,000 instead of the VND 11,000 that Gojek, one of BeBike's rivals,
indicated it will keep as a competitive price to draw in more users.

The questions that follow with relation to the opportunities that rivals provide are: Is your
competition doing any actions that might benefit your company? Have they altered the services
they provide? In recent years, many people have opted to reduce their use of plastic in an effort
to protect the environment. Olvantine, on the other hand, still uses plastic straws. Milo, one of
Olvantine's principal rivals in Vietnam's FMCG sector, saw this as an opportunity to get in touch
with people who are enthusiastic about environmental activities. According to Ha Vy (2020),
Milo intended to switch out plastic straws for paper ones as a result. Customers have shown a
great deal of support for this tactic.Some questions concerning threats must be answered,
including: what are your rivals doing that threatens your business? Are their product prices
competitive with yours? What makes their experience and service to customers different from
mine? For instance, Vietnam Airlines offers higher-priced flights to various destinations in
Vietnam than competitors like Vietjet and Jetstar.

What your competitors are doing to endanger your business is one point that has to be
addressed when talking about threats. Do their product pricing match those of yours? What
distinguishes their customer service and experience from mine? For instance, compared to rival
airlines Vietjet and Jetstar, Vietnam Airlines charges more for flights to a variety of locations

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within Vietnam. On the other hand, they have a sound justification for expensive tickets. Their
costs cover seat reservations, in-flight entertainment, a variety of meals, newspapers, and
business periodicals. In contrast, customers on Vietjet or Jetstar flights must pay for the
aforementioned services. Vietnam Airlines provides additional advantages at a better price-
value ratio.

According to Almeida, Fernando, and José Santos (2018), conducting a SWOT analysis is very
helpful when planning and studying a marketing strategy. A SWOT analysis, in my opinion, is
useful not only for current planning, but also for the future. It is important to emphasize that a
corporation may view some aspects of a SWOT analysis as opportunities or threats. 2018
Almeida, p. 42 For instance, the new technology innovation could be helpful if a business can
incorporate it into the idea of the goods or services they provide. If our rivals exploit it to acquire
a competitive edge over our market position, though, it may turn into a risk. Therefore,
developing a rival SWOT analysis that has long-term value may assist a firm avoid the
aforementioned problem as a result of the influence of competitors.

Sincerity, in my opinion, is crucial for the analysis to provide worthwhile results. When I know
myself, I can transform unpleasant experiences into positive ones. For instance, I think that one
of the qualities I need to have is the capacity to listen to clients if I want to become a
professional marketer. Since this is not one of my strengths, I will use social networking tools
like Facebook and Instagram to solicit client feedback.

I'm going to make a career prediction and say that I'll be a marketer in a few years.
Coincidentally, the post of marketing manager was open at the moment. Everyone in the
marketing division has the chance to apply for that post, thanks to the top management.
Consequently, I believe SWOT is a useful technique for me to have a comprehensive
understanding of my colleagues, pick up excellent ideas, and get rid of negative behaviors in
order to help me stand out and have more opportunities for professional progress. If my
employees are more productive than I am, for instance, this is an important goal that I need to
accomplish, such as working extra or creating a thorough strategy.

Finally, conducting a SWOT analysis has been quite instructive for both my personal
development and future career planning.

REFERENCE: 

 Papajorgji, P, Guimarães, AM, & Guarracino, MR (eds) 2013, ‘Enterprise Business

Modeling, Optimization Techniques, and Flexible Information Systems’, IGI Publishing,
Hershey, viewed at 20 March 2022, ProQuest Ebook Central database.
 Papajorgji, P, Guimarães, AM, & Guarracino, MR (eds) 2013, ‘Enterprise Business
Modeling, Optimization Techniques, and Flexible Information Systems’, IGI Publishing,
Hershey, p.46, viewed at 20 March 2022, ProQuest Ebook Central database.
 Almeida, F, & Santos, J 2018, ‘The Business Plan Reference Manual for IT Businesses’,
River Publishers, Aalborg, p.42, viewed at 20 March 2022, ProQuest Ebook Central
database.
 Nguyen Quy, 2020, ‘Bamboo Airways announces first ever Hanoi-Con Dao Island direct
service’, Vnexpress International, 10 September, viewed at 20 March 2022,

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 <https://e.vnexpress.net/news/business/companies/bamboo-airways-announces-first-
ever-hanoi-con-dao-island-direct-service-4159741.html>.
 Hoang Manh Gioi, 2022, ‘App-based taxi service prices sharply increase’, DtiNews –
Dan Tri International, the news gateway of Vietnam, 03 March, viewed at 20 March
2022,
<http://dtinews.vn/en/news/018/78211/app-based-taxi-service-prices-sharply-
increase.html>.
 Ha Vy, 2020, ‘Nestlé uses environment-friendly paper straws for Milo Breakfast drink’,
Vietnam Investment Review, 10 March, viewed at 20 March 2022,
<https://vir.com.vn/nestle-uses-environment-friendly-paper-straws-for-milo-breakfast-
drink-74607.html>
 Almeida, F, & Santos, J 2018, ‘The Business Plan Reference Manual for IT Businesses’,
River Publishers, Aalborg, p.40, viewed at 20 March 2022, ProQuest Ebook Central
database.