There are a couple of units in the market that can be analyzed. Our main thrust during this course is the client. However, we can also are looking to analyze our own firm’s strengths and weaknesses and people of competing firms. Suppose, as an example, that we make a product aimed at older consumers, a starting to be section.
A competing firm that targets babies, a shrinking market, is likely to imagine repositioning toward our market. To assess a competing firm’s skill threat, we need to check its assets e. g. , technology, patents, market talents, attention of its brands in opposition t pressures it faces from the market. Finally, we want to assess prerequisites the marketing atmosphere.
For example, however we could have developed a product that offers great appeal for clients, a recession may cut demand dramatically.