MANAGEMENT

Detailed explanation-1: -A mission statement identifies the nature of the business or reasons it exists. Q. A market analysis identifies a business’s strengths and weaknesses and the opportunities and threats it faces.

Detailed explanation-2: -A Mission Statement Explains Why an Organization Exists The mission statement guides the corporate strategy, which, in turn, guides the marketing strategy and planning. All marketing activities should relate to and support the company’s mission.

Detailed explanation-3: -A mission statement is a brief description of an entity’s fundamental purpose. It answers the question, “Why does our business (or nonprofit or government agency) exist?” The mission statement articulates the company’s purpose both for those in the organization and for the public.

Detailed explanation-4: -Mission statements summarize an organization’s primary goals, purpose and values by answering the question, “Why does this organization exist?” Without a mission statement, potential customers cannot differentiate you from your competitors.

Detailed explanation-5: -A target market is a clearly identified segment of the market to which a business wishes to appeal.