FORMATION OF MARKETING STRATEGIES OF THE DAIRY INDUSTRY ENTERPRISES DEVELOPMENT USING SWOT ANALYSIS AND PEST ANALYSIS

Keywords: SWOT analysis, PEST analysis, strengths and weaknesses, threats, opportunities, marketing strategy, external environment, internal environment

Abstract

In the conditions of intensifying competition on the dairy market, constant changes in its situation and capacity, as well as the uncertainty of the external environment, the priority areas are the formation and implementation of marketing strategies for development, which will be able to ensure the effective operation of enterprises with the help of the use of strategic management tools - SWOT- analysis and PEST analysis. The article discusses the theoretical foundations of SWOT analysis and PEST analysis. The algorithm of their implementation was studied. The stages of the SWOT analysis are described, as well as its main tasks, the existing shortcomings are revealed (speed of aging of information, level of uncertainty of the external environment, etc.). It was determined that this method helps to establish chain links between external and internal environments. It has been established that SWOT analysis and PEST analysis are universal methods of strategic analysis that allow determining a list of strategic actions aimed at the development of the enterprise and strengthening of competitive positions. These methods are the initial stages and the basis for the formation of any marketing strategy of dairy enterprises. With the help of SWOT analysis, a comprehensive assessment of the marketing strategies of enterprises in the milk processing industry market was carried out. The impact of strengths and weaknesses on the realization of opportunities and neutralization of threats from the external environment is determined. A PEST analysis of the external environment of dairy enterprises was carried out, an assessment of the direction and influence of groups of factors (P, E, S, T) was carried out, and those that hinder the formation of marketing strategies and those that have a positive effect on it were determined. The application of SWOT analysis and PEST analysis in the process of forming a marketing strategy is shown schematically. On the basis of the conducted research, practical recommendations for dairy enterprises were developed and the main priority directions of their development were formulated.

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Published
2023-11-28
How to Cite
Harastovska, A., & PіetukhovaO. (2023). FORMATION OF MARKETING STRATEGIES OF THE DAIRY INDUSTRY ENTERPRISES DEVELOPMENT USING SWOT ANALYSIS AND PEST ANALYSIS. Economy and Society, (57). https://doi.org/10.32782/2524-0072/2023-57-56
Section
MARKETING