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033 Components Of Marketing Plan Page 37

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External Environment _The next part of the marketing plan is the external environment. What is going on outside of your business? Business owners should take a look at what is going on in the external environment or industry. Are other businesses in your industry succeeding or closing shop? Is the industry in a growth or declining phase? Could there be threats that could jeopardize your business operations?

Generally, in a marketing plan the following points are considered _ Market Analysis: First analysis your broader market, where are the opportunities that you can look for? What are the scopes in the current market? After analyzing the broader scope of the market; target on the niche values.

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