Future Business Leaders of America (FBLA) Marketing Practice Test

Which section of a marketing plan assesses a company's strengths and weaknesses?

1. Market analysis

2. Competitive analysis

3. Internal analysis

4. Strategic analysis

The correct answer is: Internal analysis

The section of a marketing plan that assesses a company's strengths and weaknesses is termed internal analysis. This analysis focuses on evaluating the internal factors that influence an organization, such as resources, capabilities, processes, and overall performance. By identifying strengths, a company can leverage these advantages in its marketing strategies. Conversely, recognizing weaknesses allows the organization to address areas for improvement, ultimately optimizing performance and competitive positioning. In this framework, internal analysis usually includes aspects like financial health, operational efficiency, human resources, and brand reputation, which are crucial for aligning the marketing strategy with the company's unique internal landscape. Other sections of a marketing plan, like market analysis or competitive analysis, focus on external environments and competitors, which do not directly assess the company's internal attributes. Strategic analysis, while broad, often incorporates various elements but does not singularly emphasize the internal focus that internal analysis provides.