Final answer:
Feasibility studies are necessary to evaluate the viability of a project. SWOT analysis is used to develop a marketing plan by identifying strengths, weaknesses, opportunities, and threats.
Step-by-step explanation:
Feasibility studies are necessary to assess the viability of a project or business endeavor. It helps to evaluate the potential risks, costs, and benefits associated with the project before committing resources. A feasibility study includes analyzing various aspects such as market demand, competition, financial projections, and operational requirements.
A SWOT analysis is used to develop a marketing plan by identifying an organization's strengths, weaknesses, opportunities, and threats. This analysis helps identify areas where the organization has advantages or disadvantages, and opportunities or threats in the market. By understanding these factors, businesses can formulate strategies that leverage their strengths, mitigate weaknesses, capitalize on opportunities, and address potential threats in their marketing plan.