The component of the marketing plan allows a company to understand information about their current business and then make strategic decisions about how to best move forward is known to be Situation Analysis
Situation analysis is known to be a term that connote a form of a methodical outlook in regards to the internal as well as the external factors that tends to affect a business at any point in time.
These factors is one that include customers, competitors, as well as the market environment, and a given business's capabilities.
Hence, The component of the marketing plan allows a company to understand information about their current business and then make strategic decisions about how to best move forward is known to be Situation Analysis
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