Situation Analysis in Marketing Plan
Under the competitive and dramatically changing environment, some companies are successful but some are failed. Considering the reasons are various, however, offering the right products for the right growth markets at the right time is the key factor for some of the successful companies. Chinese idiom says ‘know the enemy and know yourself, and you can fight a hundred battles with no danger of defeat’. Hence, the company must make marketing plan systematically, in terms of its objectives and missions, if it pursues maintaining a high level of operating efficiency, and achieving above-average returns.
The role of situation analysis
Situation analysis is an essential first step in the process of marketing plan. Jain …show more content…
All in all, a marketing manager need to recognize the advanced technologies will stimulate the power of customer, know the limits of their core technologies when constructing marketing plan.
Hanson & Dowling (2005) suggest socio-cultural environment concerns the values and attitudes customers and society hold. The important thing for marketing manger is to focus on target customers’ cultural trends when identifies changes in society affect the firm. As an example of beer in Australia, not only men but also women like beer. Australia has developed its own culture of beer. Boag’s beer is the one of the most famous beers in Australia.
According to Hanson & Dowling (2005), internal environment determines a firm’s actions which are permitted by resources, capabilities and core competencies. Three aspects need to be considered while marketing manager implements marketing strategies.
Firstly, to identify the firm’s current marketing goals and objectives. Making sure the core business of the target firm is the first step when writing the marketing plan. For example, the core business of Souvenir Company of 2008 Beijing Olympic Games is not the production of toy industry, but rather the marketing of toy industry. Boag’s Brewery’s core business is the marketing of beer industry according to the major assignment.
Secondly, to identify the firm’s current