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Canada (162,462)
Marketing (884)
MKT 100 (488)
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Chapter

Situation Analysis and Internal External Analysis.docx

2 Pages
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Department
Marketing
Course Code
MKT 100
Professor
Sprangel

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Description
Situation Analysis & Internal External Analysis  After developing its mission, a firm next must perform a situation analysis, using a SWOT analysis that assesses both the internal environment with regard to its strengths and weaknesses (internal analysis) and the external environment in terms of its opportunities and threats (external analysis).  Situation analysis also includes an examination of market trends, customer analysis, and competitive analysis.  A SWOT analysis is designed to help the firm determine areas in which it is strong and can compete effectively and areas where it is weak and vulnerable to competitive attacks.  It also enables the firm to understand where it has sustainable competitive advantage or unique advantages that cannot be easily copied by competitors and how it can leverage those advantages in response to new opportunities arising from changes in its external environment.  By understanding its competitive s
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