Identifying Internal data sources for your product
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.
The assignment requires that students register the company of interest by going to the Discussion Board - Marketing Portfolio Assignment (Individual) - Product Registration entering the product selected. Once registered, the professor will need to approve the product before students can begin working on the project.
The requirements of the project are as follows:
1.Through research, identify the key internal data sources for your product. Specifically, consider sources such as profitability, sales and market share growth, customer loyalty and satisfaction, brand reputation, brand quality etc. Research and analyze at least 4 internal factors. Cite your sources.
Complete a SW (strengths, weaknesses,) analysis using a bullet point, table format. This analysis should be from the perspective of your product. Finally, summarize your findings and provide recommendations (action plans) as to what you plan to do to alter your current marketing plan to address this implication. Ie How may these internal factors impact Product, Price, Promotion or Place strategy…and Why?
Through research, identify the trends and changes that are occurring in the external environment that impact your chosen product’s marketing plan. Specifically, consider trends and changes in the areas of Technology, Regulatory, Economics, Environmental, Demographics, and Socio-Cultural happenings in the Canadian marketplace. Research and analyze at least 3 factors. Explain for each of the factors you have selected the positive or negative implications (minimum of two for each) the external environmental factor could have on your chosen product’s marketing plan. Ensure that you explain why? Cite your sources.
Complete an OT (opportunities, threats) analysis using a bullet point, table format. This analysis should be from the perspective of your product factoring in your environmental scan. Finally, summarize your findings and indicate possible implications for the marketing of this product. Also provide recommendations (action plans) as to how you would alter your current marketing plan to address this implication, again based on the factors you selected. I.e. How may this trend impact your Product, Price, Promotion or Place strategy…and Why?
2.Review 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. Provide and document sources Evaluate and specify your product’s ‘Unique Selling Difference’ (USD). Provide rationale for your evaluation.
3.From a Global Citizenship and Equity (GC&E) perspective: 1) identify (in your own words) how your product’s firm has supported environmentalism/sustainability, and 2) has supported social responsibility at the national or global level. Please provide supporting documentation.
Overall professionalism and presentation of the assignment including cover page, bibliography including citation (APA), spelling/grammar