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MRKT 3004 Marketing Plan Project

tag 0 Download 5 Pages / 1,125 Words tag 24-09-2020

Question:

An important part of the strategic marketing process is a careful analysis of a firm’s current situation. A useful starting point for a situation analysis is to complete a SWOT analysis (strengths, weaknesses, opportunities and threats). This exercise illustrates how SWOT can be used together to gain insight into a company’s marketing environment, which can enable it to plan and possibly execute its marketing strategy.
 
• What are customers doing?
• What are competitors doing?
• What are some industry trends?
 
Task: Apply the relevant concepts from class, the textbook, the PowerPoint slides and the secondary information that you obtain to conduct a focused situation analysis for the specific situation currently facing the product. An initial starting point is to apply the SWOT table in Appendix 2 to the current situation. Not every issue will be applicable, so focus on the most important factors in the situation facing them. When you can, substantiate the strengths, weaknesses, opportunities and threats that you identify with additional secondary information and facts and cite them in a separate bibliography at the end of the paper. (Only issues in the SWOT table needs to be supported by secondary information and referenced) You will be operating on incomplete information but welcome to reality.
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