Your marketing plan will include a situation analysis based on internal and external factors that are likely to affect your marketing program.

1. To summarize information about external factors, create a table similar to Figure 3–2 and identify three trends related to each of the five forces (social, economic, technological, competitive, and regulatory) that relate to your product or service.
2. When your table is completed, describe how each of the trends represents an opportunity or a threat for your business.