Final answer:
A company should conduct a complete situational analysis before starting or adjusting a marketing program, as it provides a detailed overview of the market, competition, and consumer behavior.
Step-by-step explanation:
When embarking on a new or modified marketing program, a company should conduct a complete situational analysis first. This comprises of assessing the marketing environment and the context in which the business operates, including both internal and external factors.
A complete situational analysis will include, among other things, a market analysis to understand the demand and supply dynamics and the competitive landscape. Furthermore, it may entail looking into customer demographic details, as evident from techniques like surveys among electronics store customers or tallies of library user demographics to assist in understanding customer ages and behavior patterns.
By conducting a complete situational analysis, companies can get a comprehensive view of their market, competitors, and customers, informing them to make educated decisions for strategy formulation or modification.