Lesson 4 Resources Marketing Plan Framework This Assessment Tool contains real world examples, guiding principles, practical worksheets, and information that can help you complete a 4E-based marketing plan for your business.

4E-based Strategy Formulation

Mission Statement

The very first task in a marketing plan is to review (or develop if absent) the mission statement of the business. The mission statement must answer the question, “What is our business?” The mission statement should express an organization’s

• Purpose
• Approach to managing the business
• Primary offerings
• Target customers
• Concerns for employees and the community (David, 1995; Radtke, 1998)

Do you have a mission statement for your business?  Check out the examples in the resource section above to learn more. 

Situation Analysis

Situation analysis, also called environmental analysis, refers to collecting, analyzing, and interpreting information and trends that affect a company. An operator needs to constantly monitor these trends and conditions to estimate how the changes may affect the business. A primary goal of situation analysis is to identify current organizational strengths and weaknesses and emerging opportunities and threats (referred to as a SWOT analysis).

The results of the situation analysis help operators determine the direction of their business, including the use of the 4Es. For a 4E-focused marketing plan, situation analysis consists mainly of:

• Internal audit of offerings
• Market trends analysis
• Market potential analysis
• Competitive analysis.