Before one can develop a good Marketing Strategy, it is important to perform a "Situational Analysis. What are the key components in a SA?
1) Macro-level external environment
>Political, Legal, Socio-cultural, Technological, Economic
2) Internal Environmental Assessment
>Corporate Culture, Firm Organization, HR Policies and Capabilities
3) Analyze Competitive Strategy
>Position in Industry, Strengths, Weaknesses, Threats, Power
4)SWOT Analysis
>A convenient way to summarize key findings into a matrix of strengths, weaknesses, opportunities, and threats