situation analysis for my project 1
I am working on a final project for my marketing class. I hope you could help me to finish this section base on other things that I already have.
SITUATION ANALYSIS
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A situation analysis is the foundation of your marketing plan. It includes a thorough examination of internal and external factors affecting a company or brand and creates an overview of the sis method. A SWOT analysis consists of analyzing internal strengths and weaknesses and external opportunities and threats. Refer to Ch. 2-3 for more guidance.
The Internal Analysis of strengths and weaknesses focuses on internal factors that give a brand certain advantages and disadvantages in meeting the needs of its target market.
- Strengths – things the company does well; core competencies
- Weaknesses – things the company does not do well; limitations
The External Analysis examines opportunities and threats that exist in the environment, independent of the brand itself. The way to differentiate a strength or weakness from an opportunity or threat is to ask: Would this issue exist if the brand did not exist? If the answer is yes, it should be considered external to the firm.
- Opportunities – favorable conditions in the external environment
- Threats – unfavorable conditions or barriers that may prevent the brand from reaching its objectives
