Words: 438
Situational analysis Situational analysis often is called the foundation of a marketing plan. A situational analysis includes a thorough examination of internal and external factors affecting a business. It creates an overview of the organization that will lead to a better understanding of the factors that will influence its future. To be able to successfully implement our proposal, the following factors must be considered: Political – real estate regulations that could hinder/develop the said proposal.
Environmental – The increase in number of families that belong to class ABA is manifestation that we can maximize the buying power of the said target market. Social – The varying lifestyle of the families nowadays can be use in considering the factors that could attract our target market. For instance, families nowadays are more outgoing and adventure seekers.
Technological – Advancement in technology especially in the field of advertising and marketing that could further promote and foster brand awareness Originally known as PEST Analysis, this is a macro environmental framework used to understand the impact of the external factors on the organization and is used as strategic analytical technique. P for Political factors: These factors take into account the political situation of a country and the world in relation to the country. All the policies, all the taxes laws and every tariff that a government levies over a trade falls under this category of factors.
E for Economic factors: Economic factors include all the determinants of an economy and its condition. The inflation rate, the interest rates, the monetary or fiscal leslies, the foreign exchange rates that affect imports and exports, S for Social factors: Every country is different and every country has a unique mindset. These mindsets cast an impact on the businesses and the sales of their products and services; therefore PESTLE analysis includes these factors as well. T for Technological factors: Technology greatly influence a business, therefore PESTLE analysis is conducted upon these factors too.
Technology changes every minute and therefore companies need to stay connected along the way and integrate as and when needed E for Environmental factors: The location of countries influence on the trades that businesses do. Adding to that, many climatic changes alter the trade of industries and the way consumers react towards a certain offering that is launched in the market. The environmental factors include geographical location, the climate, weather and other such factors that are not Just limited to climatic conditions. These in particular affect the agric-businesses, farming sectors etc. Marketing plan of cafe Cyrillic By prearranging