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Marketing Management Student’s Name Student ID Number Course Title & Code Instructor’s Name Date Total Number of Words: 3,005 1.0 Introduction A good marketing management is essential behind the success of any business organization. To be able to come up with the best marketing management strategy, managers should carefully examine not only the external but also the internal factors that could affect the success and failure of a business organization.
88; Valentin, 2001). This explains why most of the colleges and universities are very focused on equipting all future managers with regards to the use of this particular analytical tool in business (Aghdaie and Zardeini, 2012; Chan, 2011). As defined by Lamb, Hair and McDaniel (2012, p. 40), competitive advantage is “a set of features of a company and its products that are perceived by the target market as signficant and superior to the competition”. Considering the tight market competition that is currently going on in both domestic and international market, the ability of the managers to develop and create a competitive advantage on behalf of the company becomes very important. With the purpose of gaining more insight on how to critically examine both internal and external factors that can significantly affect the success or failure of a business organization, this study will focus more on critically evaluating the main role of the SWOT analysis framework particularly when it comes to establishing strategic priorities that will improve the company’s ability to compete within the local and international market. ...
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