5c Marketing

1295 WordsJul 10, 20136 Pages
Situation analysis From Wikipedia, the free encyclopedia Jump to: navigation, search Situation analysis refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment.[1] The situation analysis consists of several methods of analysis: The 5Cs Analysis, SWOT analysis and Porter five forces analysis.[2] A Marketing Plan is created to guide businesses on how to communicate the benefits of their products to the needs of potential customer. The situation analysis is the second step in the marketing plan and is a critical step in establishing a long term relationship with customers.[3] Marketing Plan…show more content…
An analysis on the climate is also known as the PEST analysis. The types of climate/environment firms have to analyse are: Political and regulatory environment: An Analysis of how active the government regulates the market with their policies and how it would affect the production, distribution and sale of the goods and services. Economic Environment: An Analysis of trends regarding macroeconomics, such as exchange rates and inflation rate, can prove to influence businesses.[5] Social/cultural environment: Interpreting the trends of society,[5] which includes the study of demographics, education, culture etc. Technological analysis: An analysis of technology helps improve on old routines and suggest new methods for being cost efficient. To stay competitive and gain advantage over competitors, businesses must sufficiently understand technological advances.[12] SWOT Main article: SWOT Analysis A SWOT Analysis is another method under the situation analysis that examines the Strengths and Weaknesses of a company (internal environment) as well as the Opportunities and Threats within the market (external environment). A SWOT analysis looks at both current and future situations, where they analyze their current strengths and weaknesses while looking for future opportunities and threats. The
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