At which stage of the marketing process would a business examine its internal and external influences? (A) When identifying target markets (B) When conducting a situational analysis (C) When establishing its marketing objectives (D) When developing its marketing strategies - HSC - SSCE Business Studies - Question 4 - 2015 - Paper 1

In the marketing process, a business would examine its internal and external influences particularly during the situational analysis phase. This phase is critical as it involves evaluating the current market environment, including strengths, weaknesses, opportunities, and threats (SWOT analysis). By conducting a situational analysis, a business can gather data that informs decision-making and strategic planning.

Internal influences refer to factors within the company, such as resources, capabilities, and overall organizational culture. Conversely, external influences include market trends, competition, consumer behavior, and economic conditions. Analyzing these factors helps ensure that the marketing strategies developed are effective and aligned with the business's objectives.