The most significant theory that I have learned throughout the first three topics of

Marketing Principles is how to analyse a SWOT framework to evaluate a

company’s performance as well as develop properly strategy. Through online
lecture in topic 2 ‘Marketing Environment’, we were first introduced to actors and
forces outside marketing that influence a business’s marketing. The marketing
environment is divided into the micro-environment which includes the actors
related to the brand affecting its capacity to service clients and the macro-
environment which consists of the larger societal forces affecting the
microenvironment. After that, in tutorial class, we had an opportunity to
thoroughly understand them through numerous specific examples and then built-
up SWOT analysis after identifying 2 micro actors and 2 macro factors that are
close to the company chosen and analysing the impact of these actors on this
business’s performance to satisfy purchasers. SWOT is a useful tool to assess 4
aspects including Strengths, Weaknesses, Opportunities and Threats whether they
are internal or external parts, helpful or harmful to the company. At that class, my
team did some research on social media, company websites about the brand
‘Vinamilk’ in order to apply SWOT framework. Despite lacking specific data when
researching and presenting, after receiving feedback from Dr Anushka
Siriwardana, we were able to pinpoint the micro and macro criteria affecting a
brand’s marketing and comprehend how to undertake effective SWOT analysis.

SWOT framework is of great importance to my understanding about a company’s

operation and marketing environment, which helps me to design an effective
customer-driven marketing strategy. Strengths (the S in SWOT) are internal
characteristics of an organisation that give it advantages over others (Peterdy n.d).
They could be unique selling points, employee motivation, production processes.
We then explicate them and make an effort to improve these strengths to win
competitors. Opportunities (the O in SWOT) are positive factors outside the
organization that push the business forward (Perdy n.d). Detecting and promptly
seizing opportunities helps business differentiate itself from competitors and lead
the market. Combining the S and the O together, we know how to take advantages
of its strengths by utilizing its resources to develop potential opportunities.

Besides above positive aspects, SWOT analysis also empowers us to realize some
fundamental flaws of a business. Weaknesses (the W in SWOT) are characteristics
of a company that put it at a disadvantage relative to its competitors (Peterdy

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n.d). By conducting a SWOT analysis, marketers can dig into drawbacks of a
brand’s products and be aware of its effects on customer’s satisfaction. Marketers
can then provide more customer-focused solutions to get rid of these minuses and
meet market’ needs. Threats (the T in SWOT) are current risks and upcoming ones
in the external environment which could endanger the business (Peterdy n.d).
Drafting a SWOT analysis gives marketers a chance to gain a deep comprehension
of a company's internal and external circumstances, which enables them to not
only provide accurate and insightful forecast of potential threats but also upgrade
available strengths and make use of outside benefits.

This model of SWOT framework has shaped my mind about marketing

assessment. Learning how to apply a SWOT analysis helps me to have a holistic
view about important factors such as weaknesses and threats in lieu of focusing
on sole strengths of marketing campaigns. Taking ‘Apple’ as an example, I can
examine a wide range of facets of its current situation in the marketplace in
comparison with other competitors. There is no doubt that Apple is one of the
most well-known brands in the world with a dedicated client base owing to its
innovative products and design quality. Moreover, Apple continually sets new
trends with regard to technological advances such as introducing fingerprint
sensor and then upgrading facial recognition through Face ID or annually changing
its cameras. However, Apple comes at a cost that is more expensive than most
rivals. These products and services are out of customers' reach as for the
increasing financial commitment required for the purchase and the higher cost of
living (Pereira 2023).

However, I am convinced that the aforementioned benefits pale in comparison to

the drawbacks of SWOT framework. One major limitation of a SWOT analysis is
that it does not prioritise issues and while it generates a lot of information, not all
of it is directly useful for planning or operational purposes (ClickView 2019). CIPD
(2023) argues that the risk of capturing too much data may lead to ‘paralysis by
analysis’. For instance, when we pay more attention to the threat section because
we are planning for risks. Neither strengths nor opportunities are necessary here
but weaknesses which can turn into threats require much more focus. If we spend
more time analysing strengths and opportunities, we will have too little
information about other sections and then face obstacles.

Although there are some mentioned demerits, SWOT framework still empowers
me to better in both academic lessons of Marketing Principles as well as my
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private life. In my study at RMIT, it gives me an opportunity to widen my
knowledge about marketing and hone my skills of building long-term strategies
for companies. In my life, SWOT analysis will offer me a holistically visual
representation of who I am by asking reflecting questions about identifying the
core competencies, reviewing existing weaknesses, defining available
opportunities and considering potential threats (Chaggan 2021). Consequently, I
can figure out my own orientation which makes my strengths pronounced while
keeping my disadvantages to a minimum. It is understandable to implement
SWOT framework as a self-reflection tool to evaluate my intention and stand out
in all the daily cases.

REFERENCES

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Kyle Peterdy ‘SWOT Analysis’
https://corporatefinanceinstitute.com/resources/management/swot-analysis/

Daniel Pereira ( 3 March 2023) ‘Apple SWOT Analysis’

https://businessmodelanalyst.com/apple-swot-analysis/

ClickView (2019) , Series ‘Strategic Tools for Business’ , Libraries ‘ Secondary

Library, Tertiary Library’
https://online.clickview.com.au/libraries/videos/18845095/swot-analysis