Complete an industry and competitive analysis for your client.
Purpose of Assignment
The purpose of this assignment is to help students learn how a well-written Strengths, Weaknesses, Opportunity, Threat, Trends (SWOTT) analysis should be a critical tool utilized in analyzing marketing information before launching a new product. Students will also learn how a SWOTT analysis may be employed to uncover competitive advantages to gain advantage in the market.
Assignment Steps
Scenario: As a professional marketing consultant; you have been hired to help a company launch a new product in their industry. Your objective throughout this assignment is to develop and to gain and maintain a competitive advantage in the selected industry, and create value for the target market.
Develop a 1,050- to 1,400-word analysis completing an industry and competitive analysis for your client.
Create a new product or service to be offered by a company (either an existing firm or a start-up company) in one of the following industries:
- Office supply products
- Outdoor recreation
- Fast food restaurant
Attach the 8- to 10-question survey to be used for primary market research with the completed analysis.
Include the following in your analysis:
- A detailed description of the new product or service offering.
- Determine market needs (justification for your choice of product).
- Review past market history and estimate future growth potential.
- Analyze the company’s strengths and weaknesses. List external opportunities, threats, and any possible trends.
- Analyze potential competition for the new product.
- Write a detailed overview of the competitive landscape.
- Assess the competition’s strengths and weaknesses.
- Draft a brief survey (8-10 questions) that may be used for primary market research. Questions should collect primary data about the target market to help you develop a branding and marketing communications plan.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.
