Situational analysis is a methodology that refers to the collection of data by managers to analyze the internal and external environment of the organization.
- The situational analysis consists of a marketing plan that consists of an introduction, aims and objectives, budget, strategy, execution, and evaluation. This marketing is made so that businesses can interact within themselves for profit-making.
- This helps to make long-term relations with the clients of the company. The analysis consists of 5C that are a company, competitors, customers, climate, and collaborators.
Thus the option Is correct.
Learn more about the procedure under the formal planning process which includes studying past events, examining current conditions, and forecasting future trends.
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