Strategic Marketing: Approaches to Internal and External Environmental Analysis

INTRODUCTION
Strategic marketing requires high level of skills, critical consciousness of the
current issues and challenges and capability to react towards fast changing
markets. Business organisation makes use of strategic marketing for
developing plans to reach and satisfy their customers by increasing
productivity, performance and profitability. Usually, organisation make
written strategic marketing plan which depicts what kind of programs are
going to be used for marketing within a time limit and how they are going to
be executed. It also helps the business enterprises to become more innovative
and penetrate the markets through a better way. Firm can consider ways such
as newsletters, podcasts, and mails in their strategic marketing planning. In
simple terms, it is means that through this the companies differentiates
themselves from their rival firms by capitalising strengths for providing
constantly better value to the customers against its rivals.

TASK 2
2.1Evaluating approaches to internal environmental analysis
For evaluating internal environment, Marks and Spencer can adopt
approaches such as SWOT analysis. This analysis will be
helpful for the firm to do a quick revision of is strategic
situations and evaluate is there is a suitable match between
internal resources, external environment and values. With this,
McKinsey's model can also be taken in use to do internal
analysis which includes independent factors that are categorised
in soft and hard components.
 Explaining internal environment
 Approach for internal environmental analysis

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