The main environments investigated in the Situation Analysis are market, industry and firm. However, the Situation Analysis also considers relevant issues and trends in the macro environment. A brief overview of these environments follows.
The Situation Analysis sets out the facts that are the bases for all future analyses in subsequent sections. That is, with the exception of any primary research, all data reported in subsequent sections of the Marketing Plan should be traceable to the Situation Analysis, including current financial performance.
Develop a working understanding of the customer or user. Use Business Source Premier for a SWOT analysis, industry profiles, market research reports or product reviews.
Internal Analsyis of the Firm: Who You Are... Who You Are Not
Consider your firm's past performance and the reasons for those outcomes. Then analyze your firm as if we were a competitor.
Includes full text access to over 1,000 regional, national, and international scholarly business journals, business periodicals, and industry publications. Topics include management, economics, finance, accounting, international business, and much more. Also has case studies, company profiles, country economic reports, industry reports, CountryWatch forecasts, market research reports, and SWOT analyses. the Icon Group.
Objectives
Questions to Consider
Start with Nexis Uni to create a basic Industry Analysis from a Financial or Market Segmentation view.
Once you have the financial pieces:
Then you can start to compare companies or analyze industries by:
Industry Analysis and Description
Research companies, the products and technologies they produce, and the markets in which they compete. Includes summaries and full text from business and trade journals, industry newsletters, newspapers, market research studies, news releases, and investment and brokerage firm reports.
Presents full text profiles, including histories, chronologies, financial data, SWOT analysis, leadership, brands, investment reports, competitors, news and journal articles, and rankings, of US and international companies. Includes profiles of countries, which includes GDP and top companies, and industries, which includes revenue and top companies.
Includes full text access to over 1,000 regional, national, and international scholarly business journals, business periodicals, and industry publications. Topics include management, economics, finance, accounting, international business, and much more. Also has case studies, company profiles, country economic reports, industry reports, CountryWatch forecasts, market research reports, and SWOT analyses. the Icon Group.
IBISWorld provides reports on hundreds of U.S. industries. Each report consists of 30 to 40 pages of key statistics and analysis on market characteristics, operating conditions, current and forecast performance, major industry participants and more. Metropolitan State University of Denver's College of Business provides funds to support access to IBISWorld.
Online market research tool monitors economic trends and gives strategic analysis, market size, and market share for numerous products across key countries. Passport includes demographic, psychographic, economic and marketing reports, and statistics, which are comparable across countries. It provides country profiles that include economic news and emerging sectors, and integrated data sets that provide historical trends and forecasting numbers. Datasets may be downloaded to Excel.
WestLaw is a collection of law-related resources. It includes important analytical sources, such as Am Jur 2d and the ALR's, as well as law reviews and journals. Primary Law Sources are also included, such as the United States Code Annotated (USCA or US Code), Code of Federal Regulations (CFR), and the Federal Register, as well as state statutes and regulations, and all federal and state cases.
International
EMIS presents news, industry information, company profiles, reports, financial data, closing price quotes, macroeconomic statistics and forecasts, and legal and political news from emerging markets in Asia, Latin America, and Central and Eastern Europe. Include articles in over a dozen languages.
Product Studies or Applied Technology Scenarios
The ACM Digital Library is a research, discovery and networking platform containing:
The IEEE Xplore Digital Library serves as a premier platform for accessing a wealth of scientific and technical literature published by the IEEE (Institute of Electrical and Electronics Engineers) and its partners. With over six million documents, it offers a comprehensive collection of highly-cited resources in electrical engineering, computer science, and related fields. Users can explore a diverse array of content, including more than 200 journals, over 3 million conference papers, and approximately 14,000 technical standards. This extensive repository is essential for researchers, students, and professionals seeking authoritative information and insights in their disciplines. You can explore more about the IEEE and its extensive content by visiting their resources homepage.
SWOT = Strengths, Weaknesses, Opportunities, Threats
From a business perspective, the SWOT analysis identifies and assesses:
The justified SWOT matrix is a foundational element of the Marketing Plan and it leads to a plan's Goals and Objectives.
Includes full text access to over 1,000 regional, national, and international scholarly business journals, business periodicals, and industry publications. Topics include management, economics, finance, accounting, international business, and much more. Also has case studies, company profiles, country economic reports, industry reports, CountryWatch forecasts, market research reports, and SWOT analyses. the Icon Group.
Presents full text profiles, including histories, chronologies, financial data, SWOT analysis, leadership, brands, investment reports, competitors, news and journal articles, and rankings, of US and international companies. Includes profiles of countries, which includes GDP and top companies, and industries, which includes revenue and top companies.
Many firms have failed or not performed as we expected by overlooking trends in their macro environments. To avoid this fate, look at those factors that Porter identifies related to industries. For example: Changes in long-term growth rates; Key buyer segments; Costs and efficiencies; Relevant government regulations; Rates at which proprietary knowledge is diffusing. You also want to consider trends related to markets such as changes in: Cultural or Demographic factors; Social or Lifestyle factors; Economic issues; Legal or Political concerns; Physical environment.
Macro Environment - Trends
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