Identifying marketing opportunities and potential problems confronting the organization is known as

Question

Quizplus · Accepted Answer

Situation analysis is the process of identifying marketing opportunities and potential problems that an organization may face in its external environment (e.g., competitors, customers, economic factors, socio-cultural trends) or internal environment (e.g., strengths, weaknesses, resources, capabilities). This analysis helps organizations to understand their current position, formulate marketing strategies, and make informed decisions about allocating their resources in the marketplace. Strategic planning, target marketing, and market segmentation are all components of the marketing process that build upon the information gathered during the situation analysis.

Identifying Marketing Opportunities and Potential Problems Confronting the Organization Is