86.
The
section is often considered the foundation of a marketing plan because
organizations must clearly understand their current situation to make strategic decisions about how to best move forward.
situation analysis A situation analysis is the systematic collection of data to identify the trends, conditions, and competitive forces that have the potential to influence the performance of the firm and the choice of appropriate strategies.
AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Explain the elements of a situation analysis. Topic: Situation Analysis
87.
A firm looking to describe the market to which it will sell its products along with considering any relevant marketplace trends is most likely developing a
.
market summary The market summary sets the stage for the situation analysis section by focusing on the market to which the firm will sell its products.
AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Explain the elements of a situation analysis. Topic: Situation Analysis
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