Portfolio Project: Writing a Marketing Plan for a Consumer Product in Canada

Marketing Environmental Scan and Competitive Analysis

This is the first part of the portfolio project that you will complete over the course of the semester. By the time you have finished, you will have essentially written a Marketing Plan for a consumer product in Canada.  You will need to choose a consumer product from the Canadian marketplace, discuss your choice with your instructor to get approval, and then conduct a Marketing Environmental Scan and a Competitive analysis. Specifically:

1. Identify the trends and changes that are occurring in the Canadian external environment that impact your chosen product’s Canadian marketing plan. Specifically, consider trends and changes in the areas of (CREST) Technology, Regulatory, Economics, Demographics, and Socio-Cultural happenings in this marketplace. Research and analyze at least 3 Canadian CREST factors. Explain for each of the factors you have selected the positive or negative implications the environmental factor could have on your chosen product’s marketing plan.

Also provide recommendations (action plans) as to what you plan to do to alter your current marketing plan to address this implication, again based on the factors you selected. Ie How may this trend impact your Product, Price, Promotion or Place strategy…and Why? 

Research the competitive environment for your chosen product.
Specifically, provide details on 3 direct competitors, focusing on comparing the 4 “P”s for your own product versus the competitor’s product. You must cite your research