For this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short- and long-term goals, an environmental analysis, and a SWOT analysis. (I would choose a furniture company)
Note: You should create and / or make all necessary assumptions needed for the completion of this assignment.
Create the first part of your marketing plan:
Note: Consider the following metrics: tracking downloads of website content, website visitors, increases in market share, customer value, new product /service adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.
First, develop both a SWOT Analysis. You should include three strengths, three weaknesses, three threats, and three opportunities for your company in regard to the product or service. That will make a complete SWOT.
Second, create the Needs Analysis. The Needs Analysis only has to address ONE need for each S, W, O,T, though you may include more.
These may be similar to your SWOT but will not be exactly the same. Here’s why:
Strengths & Weaknesses- are an Internal Analysis of the Company
Opportunities & Threats- are an External Analysis of the Environment in which the product/service exists.
Needs - Comes solely from the customer.
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