On a daily basis, what is the amount of thought put into the idea of the difficulty of competing businesses? Small businesses have a lot to compete with in today’s society. There …show more content…
Honest situational analysis will often lead into a SWOT analysis. The SWOT analysis “determines the strengths and weaknesses of the company, finds opportunities for profitability and examines potential threats to the plan 's success. This section also includes assessments on current social and political trends that can affect the plan 's success, as well as how the product stacks up against the competition (Hanks).” The SWOT analysis as well as the internal, external, and market situation marks a path for the future. There may be things that need to change immediately. Hesitation will only decrease productivity and needs to be ostracized from the equation. That is the purpose of this stage of a marketing plan: to change, develop, and strengthen the products foundation. No business has ever started off 100% perfect, nor should any strive to do so. Strong analysis and planning will provide succession in the future of the