Situation Analysis _ This is the current state of your business. It is where the question of why you are in business is answered. What products do you offer? What problem are you trying to solve? Also, how is your business different than others? The situation analysis is a look at the inner_workings of your business to identify product and service offerings, differences, and the main reason why you exist. Business owners can build a firm foundation for their mission and vision statement with this information and are better able to communicate their value to customers.
Most of your marketing research will fit into 5 or 6 categories: Surveys, Focus Groups, Interviews, Observations, Secondary Research, or Experiments/Field Trials. We will not go into specifics for each research category on this particular blog. Regardless of the marketing research methods that are used, you need to uncover who your customers are or will be, you need to uncover what the demand is for your products or services, you need to know every competitor in the marketplace, and you need to know the market share for each company in your industry categories.