The elements worth considering include:
- Product Situation
What is my current product? You may want to break this definition up into parts such as the core product and any secondary or supporting services or products that also make up what you sell. It is important to observe this in terms of its different parts in order to be able to relate this back to core client needs. Feel free to also discuss here which of your clients needs your product is meeting.
- Competitive situation
Analyze your main competitors who are they what are they up to how do they compare feature/ benefit analysis. What are their competitive advantages?
- Distribution Situation
Review your distribution Situation how are you getting your product to market? Do you need to go through distributors or other intermediaries?
- Environmental factors
What external and internal environmental factors are there that need to be taken into account. This can include economic or sociological factors that impact on your performance.
- Opportunity and issue analysis
Which requires conduction a SWOT analysis (Strengths, Weaknesses, Opportunity and Threats). Things to write down her are what current opportunities that are available in the market, the main threats that business is facing and may face in the future, the strengths that the business can rely on and any weaknesses that may effect the business performance.
I know for most of you marketing gurus this may be simple knowledge however it is important to realise that sometimes even the smartest forget the core fundamentals.