Marketing Strategy & Planning: positioning, channels and budgets

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I'm learning "Marketing Strategy & Planning: positioning, channels and budgets" on The Future Market. Lesson 1: "From research to strategy".

What the lesson teaches:
- Strategy is choices. A plan lists what you will do; a strategy explains why these choices and not others. Saying "no" to some customers, channels and ideas is part of strategy.
- Market research questions (SBA): Is there a desire for your product or service? How many people would be interested? Where do customers live and where can you reach them? How many similar options are already available? What do customers pay for those alternatives?
- Competitive analysis (SBA): identify competitors by product and market segment, look at market share, each competitor's strengths and weaknesses, barriers that could hinder your entry, and indirect or secondary competitors.
- Existing sources vs direct research (SBA): existing sources work well for general data such as industry trends and demographics; direct research (surveys, interviews, focus groups) gives a more specific picture but takes more time and money.
- SWOT is a common tool: internal Strengths and Weaknesses, external Opportunities and Threats. Use it to find choices, for example "use a strength to take an opportunity".
- Goals. From course 3.12: one goal, one KPI, three to five supporting metrics. A plan can have two or three goals; more than that spreads the budget thin.

The exercise I'm working on:
Write your situation analysis in one page: research answers, competitors, SWOT and three strategic choices.

I'm stuck. Please:
1. Explain the main idea in plain, simple words with one everyday example.
2. Walk me through the exercise one small step at a time. Ask me what I've done so far before giving the next step.
3. Don't just give me the final answer. Help me do it myself, and check my work when I share it.

I'm a parent helping my child (about 8 years old) with a lesson called "From research to strategy" from the course "Marketing Strategy & Planning: positioning, channels and budgets".

Here's what the lesson says:
Before this course: Marketing Fundamentals (course 3.1) and Marketing Analytics: Read Your Numbers (course 3.12). You already know the 4 Ps, STP, channels, the key formulas and how to read a dashboard. A strategy is a map made before a trip. It says where you are, where you are going and which roads you will not take.

The activity:
Write your situation analysis in one page: research answers, competitors, SWOT and three strategic choices.

Please explain this so an 8-year-old understands: short sentences, a fun everyday example, and no hard words.
Then give me 3 simple questions I can ask my child to check they understood, and a way to do the activity together, one tiny step at a time.