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Library Resources for Situational Analysis

Situational Analysis Assignment

Situation Analysis

The situation analysis should consist of a section on:

1. The Product Concept:   Explain what the product/service is, its features and benefits, how it works, and its purpose (what need/want is it fulfilling).  Note:  This is the only section of this paper where your product is discussed.  The other two sections entail analysis of the market as it exists prior to the introduction of your product.

2. The Current Marketing Situation including:

  • a market description (who buys this type of product now); --- 
  • market size (quantify the size of the market now either in units or dollars),
  • a review of competing products (features, prices, etc.),
  • a review of the major companies marketing these competing products (assess their size and relative market power), and
  • a review of how these products are distributed (direct to consumers, through wholesalers, through retailers)

3. A Threats and Opportunities Analysis:    the external threats and opportunities which will impact the industry the company is in.  There should be at least one threat and one opportunity for each external environment.  Just identify the threats and opportunities; do not discuss how your company/product will respond to them – that comes later.