Situational Analysis 🧐 of Marketing 📈 Plan 📝 #mba #shorts #marketing

A situational analysis is a process that marketers use to examine a company and its competitors before launching a new marketing strategy. It's usually the first step in the marketing strategy planning process and helps businesses understand their strengths, weaknesses, opportunities, and threats. This information can help organizations make better decisions and achieve their goals. Some companies also use Porter’s 5 forces model to perform a situational analysis.