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Learning Objectives Chapter 5: Analyzing Marketing Opportunities. Define the terms situation, market, and feasibility analysis. Explain the relationship and differences between situation, market, and feasibility analysis. Explain the five benefits of doing a situation analysis.

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learning objectives chapter 5 analyzing marketing opportunities
Learning Objectives Chapter 5: Analyzing Marketing Opportunities
  • Define the terms situation, market, and feasibility analysis.
  • Explain the relationship and differences between situation, market, and feasibility analysis.
  • Explain the five benefits of doing a situation analysis.
  • List in order and describe the steps in a situation analysis.
learning objectives chapter 5 analyzing marketing opportunities1
Learning Objectives Chapter 5: Analyzing Marketing Opportunities
  • List in order and describe the six major steps in a market analysis.
  • List and describe the four additional steps in a feasibility analysis.
situation analysis
Situation Analysis

A study of the marketing strengths, weaknesses, and opportunities of an existing business or other type of organization.

market analysis and feasibility analysis
Market Analysis and Feasibility Analysis
  • Market Analysis

A study of the potential demand for a new hospitality or travel business. It determines if market demand is large enough.

  • Feasibility Analysis

A study of the potential demand and economic feasibility of a business; it includes a market analysis and a few additional steps.

relationship of situation market and feasibility analyses
Relationship of Situation, Market and Feasibility Analyses
  • The relationship among these three techniques is chronological (time).
  • The situation analysis should build upon the findings of the market or feasibility analysis.
  • Each situation analysis should build upon the previous year’s situation analysis.
three analysis techniques are related over time
Three Analysis Techniques are Related over Time

Situation Analysis #3

Situation Analysis #2

Situation Analysis #1

Market or Feasibility Analysis

Time

difference between a situation and a market or feasibility analysis
Difference between a Situation, and a Market or Feasibility Analysis
  • A situation analysis determines the strengths and weaknesses of an existing organization or business.
  • A market or feasibility analysis investigates a proposed new business and its market potential and economic feasibility.
difference between a situation and a market or feasibility analysis1
Difference between a Situation, and a Market or Feasibility Analysis
  • Situation and market analysis have same steps, but in a different order.
  • Market and feasibility analysis have the same first six steps, but the feasibility analysis involves four additional steps.
benefits of doing a situation analysis
Benefits of Doing a Situation Analysis
  • Focuses attention on strengths and weaknesses.
  • Assists with long-term planning.
  • Helps in the development of marketing plans.
  • Puts a priority on marketing research.
  • Has spin-off benefits.
steps in a situation analysis
Steps in a Situation Analysis
  • Marketing environment analysis
  • Location and community analysis
  • Primary competitor analysis
  • Market potential analysis
  • Services analysis
  • Marketing position and plan analysis
steps in a market analysis
Steps in a Market Analysis
  • Marketing environment analysis
  • Market potential analysis
  • Primary competitor analysis
  • Location and community analysis
  • Services analysis
  • Marketing position and plan analysis
difference between situation and market analysis
SITUATION ANALYSIS

Marketing environment

Location and community

Primary competitor

Market potential

Services

Marketing position/plan

MARKET ANALYSIS

Marketing environment

Market potential

Primary competitor

Location and community

Services

Marketing position/plan

Difference between Situation and Market Analysis
four additional steps in a feasibility analysis
Four Additional Steps in a Feasibility Analysis

The six steps in a market analysis plus:

  • Pricing analysis
  • Income and expense analysis
  • Development cost analysis
  • Analysis of return on investment and economic feasibility
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