Marketing environmental scan

Introduction

· Describe the purpose of the paper and provide an overview

· Describe the product or service

Research Method

· Describe the research you conducted, the steps you took

· What sites did you visit? What key words did you use?

Competitive Analysis

· What competitive trends exist? Are they opportunities or threats?

· List the key competitors for this product offering

· Would you be a market leader, challenger, follower or nicher in this market?

· Consider what you might need to do to be distinctive

Regulatory Environment

· What are the international, national, provincial and local laws that might impact marketing this product? Are these potential threats or opportunities?

· Are their political threats or opportunities?

· Are there any future considerations that might come to pass?

Economic Analysis

· What economic trends exist? Are they opportunities or threats?

· What is the economic outlook for your geographic market? Be sure to use up to date statistics and quality references.

· Depending on your product, you may need to consider:

· Income and disposable income

· Elasticity of demand

· International trade and macroeconomic forces

· Interest rates

Social and Demographic Environment

· What are the demographic trends of your market that will impact marketing your product? Threat or opportunity?

· What lifestyle trends?

· Culture?

· Education?

· Style and trends?

Natural and Technological Environment

· What natural environmental impact might there be on your raw material supply?

· What environmental factors might impact you in the future?

· How will current and future technology affect this product and marketing of it?

Conclusion

· Do you recommend marketing this product?

· Sum up key opportunities and threats.

References

*APA format is double spaced, indented paragraphs, Times New Roman 12 point font. See video posted on D2L for further information. Include text embedded references and a comprehensive reference list in APA format.

· New accounting firm in Victoria or other place

· New fast food restaurant in the city of your choice

· New digital bank

· New discount retailer

· Veterinary office

· Sporting team

· New beauty spa

· Building and contracting business

· Travel tour company

· Community theatre

· Google “ideas for new products” or “products that didn’t exist 20 years ago” to get your creative juices flowing.

· A new (perhaps environmentally sustainable and healthy) toothpaste (or shampoo, soap, cleaners, cosmetics, etc)