Plan: Preface

6. Identify threats to the organization: Note down factors that are not a part of an organization’s ecosystem but are threats to business growth. Unstable markets, the increasing competition in the market etc. are some threats to a business.
7. Allot importance to various factors from SWOT analysis: After completing step 3 to step 6, four different lists will be formed. The ideal way of amalgamating these lists is creating a side-by-side matrix. A matrix helps in generating a comprehensive picture for SWOT analysis.
Once the lists are put into a matrix, the degree of importance corresponding to each of the points so that marketing strategies for immediate implementation can be put into action.
Ask the following questions to understand the priority:
Can the organization implement their strengths to benefit from existing opportunities?
Can the organization implement their strengths to get a grip on identified threats?
What are the steps to be taken in order to make sure the organization’s weaknesses do not hinder taking advantages of the opportunities?
What can be done to reduce weaknesses to get a grip on threats?
8. Create a strategy to solve identified problems: After creating the SWOT matrix and answering all these questions, the marketing team can work to create marketing strategies to attain organizational aims.

This is SWOT analyzing of Pioneer Corporation

External strategic analysis: Once the organization has successfully completed its internal analysis, the organization needs to know about external factors that can be a hindrance in their growth. To do so, they need to know how the market functions and how consumers react or behave to certain products or services. Measuring customer satisfaction is a common external analysis method. PESTLE analysis is one of the most widely used external analysis techniques. The process one is most likely to adopt when using a PESTLE technique is relatively a simple one.

PESTLE analysis (Political, Economic, Social, Legal and Environmental) describes a framework of macro-environmental factors used in the environmental scanning component of external strategic analysis. The model has been extended by adding Ethics and Demographic factors. It is a part of the external analysis when conducting a strategic analysis or doing market research and gives an overview of the different macroenvironmental factors that the organization has to take into consideration. By using PESTLE analysis one can:

1. 
   Find out the key issues beyond the organization’s control, like changes in political scenario changing rules that can be implemented at any point in time.
   
2. 
   Identify the impact of each issue.
   
3. 
   See how important these issues are to the organization.
   
4. 
   Rate the likelihood of its occurrence.
   
5. 
   Briefly consider the implications if the issue did occur.
   

Why is necessary SWOT and benefits.

Market research can provide you with the necessary information to know the different market scenarios and suggest strategies to achieve more sales. Market research is either qualitative or quantitative in nature of conduct. Market research can provide you with the necessary information to know the different market scenarios and propose strategies to achieve more sales. For example, through market research, an organization can know the degree of recognition that the brand has and plan marketing campaign correctly.

Organizations can also bet effectively the introduction of a new product into the market, or innovate through the new ideas of customers. Ask the right questions to customers and get their feedback. The data provided by the investigation will help you to plan correctly what you have to do, for example, in case your competitors lower their prices, or are there changes in the behavior of your consumers?