Analysis should include common types of planning tools, such as the following:

• Situation (i.e., analysis of an existing business)
• Market (i.e., analysis of potential demand for a new business)
• Feasibility (i.e., analysis of potential demand and anticipated profit)

Analysis should identify trends, patterns, and other results, using spreadsheets, graphs, and other tools.

Process/Skill Questions:

• What trends are shaping the market right now?
• How can computer tools facilitate the analysis of statistical patterns?
• What are the benefits of a situation analysis in relation to market segmentation?
• How often should a business conduct a situation analysis? A market analysis? Why?
• What are the benefits of a business analyzing internal strengths and weaknesses?
• What are some opportunities and threats that a new business may face?