Question

"After decades of fabulous growth, the trade show industry is experiencing business decline. A report by the National Trade Show Industry stated, "The trade show industry will face more competition for marketing dollars in the next five years than it has in the last 25 years." This statement is best described as a(n) _____."

Answer 1

Answer:

Situation analysis

Explanation:

The situational analysis helps in collecting information about an incident or trend in the environment and changes in external and internal environment that constitutes to this change. This report is based on the situational analysis and the opinion is formed by considering the new market entrants, trade agreements, exports, technological implications, fewer taxes imposed on the imports, etc. These all factors present in the market are considered and industry specific data is interpreted using this information. This statement reflects the situational analysis of the industry.