Situation Analysis – Entrepreneurship

Cite this article as:"Situation Analysis – Entrepreneurship," in The Business Professor, updated July 18, 2014, last accessed May 30, 2020, https://thebusinessprofessor.com/lesson/situation-analysis/.
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Situation Analysis
This video explains the situation analysis - part of the marketing plan.

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Situation Analysis

The situation analysis covers a mix of information uncovered in the feasibility and strategic analyses. Below is an outline of the information that should be included in the situation analysis.

 

Company Analysis

  • Background of Venture – Give the general background of the business or the people involved. This helps provide scope from which to derive your strengths and weaknesses.
  • (SWOT) – Incorporation the SWOT information helps you understand your business and how it fits into the market.
    • Strengths and Weaknesses of Venture
    • Market Opportunities and Threats
      • Note: Incorporate the PESTEL factors as relevant.
      • Describe any influencing factors that may affect the marketability of the product.

Competitor Analysis

  • Number – How many competitors are in the market?
  • Market Share – What share of the market do they occupy?
  • Competitive Positions – What are the key competitive strategy of your competitors? (Price, Quality, etc.)
  • Strengths – What are the outstanding strengths of each competitor?
  • Weaknesses – What are the competitor’s weaknesses? (Include personnel, operations, marketing, finances, etc.)

Market Demands

  • What is the current total market demand for the product or service?
  • How does production capability compare with demand?
  • What are the future demand levels?
  • Is current demand in any way correlated with market trends or ancillary products or services?

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