processes marketing Flashcards
1
Q
what is situational analysis
A
situational analysis enables management to gain an understanding of the business’s current position within the market and where it is headed.
1
Q
what is swot
A
SWOT – strengths/weaknesses/opportunities/threats - allows business to figure out where they stand in market position
2
Q
product lifecycle
A
Product analysis examines the current position of the goods and/or services that a business produces in the marketplace. Changing trends, innovation, product prices, sales and profit margins will impact on the success of a product within the marketplace
3
Q
A
