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MARKETNG 3004 Marketing Planning Project

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Question

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.

Instructions

Create the first part of your marketing plan:

  • Write an introduction to your company. Describe your hypothetical company, its location, and the product it makes or the service it provides and introduce the contents of your marketing plan.
  • Develop your company’s mission statement.
  • Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next five years (long term). Determine the most appropriate ways to measure both short- and long-term goals.

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.

  • Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
  • Develop both a SWOT analysis and needs analysis for your product / service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your

Company

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.

A Needs Analysis addresses issues of human needs (your target market’s needs).

For example-

  1. Strengths- Think of why your customer needs the product/service.
  2. Weakness- Why doesn't the customer need your product/service?
  3. Opportunities- What kind of opportunities are there that connect to your customer needing the product/service?
  4. Threats- How can the customers' needs be threatened?

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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My Assignment Help. Marketing Planning Project [Internet]. My Assignment Help. 2021 [cited 16 April 2021]. Available from: https://myassignmenthelp.com/free-samples/marketng-3004-marketing-planning-project/american-furniture-store.html.


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