Internal analysis
An internal analysis analyzes a company's situation when creating a strategic marketing plan. An internal analysis looks at the company itself. The basis your company stands for in this analysis is the mission and vision. The mission and vision have 4 parts:
- Core values - What does the organization stand for?
- Higher purpose - What does the organization exist for? The purpose, right to exist and added value
- Bold goal - Vision for the future, where is the organization going?
- Core qualities - What are the (distinctive) qualities of the organization?
If you cannot clearly fill in these four aspects for your business, it is very difficult to be able to work toward anything. That is why it is important to work out your mission and vision. Next, you will create a product and/or service portfolio in which you map out product-market combinations. In which market does the company sell which value proposition? For this, you can look at the competition and target market.
Strategic marketing plan
Creating a strategic marketing plan involves an internal analysis as part of the situation analysis. The internal analysis analyzes the organization, financial situation and marketing. The results from this analysis provide interpretation for a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities and Threats
You get the strengths and weaknesses within the SWOT analysis from the internal analysis. The external aspect of the situation analysis provides the opportunities and threats. Here you can think about competition, distribution and customers. These are all outside (external) factors that affect your business. With inside (internal) and outside (external) influences, you can create a strategic marketing plan.
Analyze company
In addition to the mission, vision and product/service portfolio, the internal analysis looks at how your company is moving in the marketplace. This is done using the following three components:
You describe the current situation of your company's organization, marketing and financial situation. What is the current strategy and what goals are being worked toward? Are there problems in the current company culture that hinder growth? To analyze the organization, you can use the 7s model or a competency analysis. There is no set format, make sure you find the right analysis appropriate for your business. To analyze and describe the marketing of your business you can use the PLC, MABA analysis, portfolio analysis or BCG matrix. To determine the financial situation, annual reports and financial statements can be studied.
