Business & Finance - Marketing Week 4 Assignment - Marketing Plan Part A

First and Last Name

Strayer University

MKT500: Marketing Management

Professor:

Date:

Marketing Plan Summary

In one to two paragraphs, write an introduction to your hypothetical company, describing its location and the product it makes or the service it provides. Remember, you selected this company and product or service in your Week 1 discussion.

Goals

In one to two paragraphs, describe the short-term goals (within one year) for your company and appropriate ways to measure them.   Your goals should be realistic, practical, and “SMART” (Specific; Measurable; Assignable; Realistic; and Time-based). 

Describe the long-term goals (within five years) for your company and appropriate ways to measure them.   Your goals should be realistic, practical, and “SMART” (Specific; Measurable; Assignable; Realistic; and Time-based). 

Competitive Analysis

In three to four paragraphs, develop a competitive analysis for your hypothetical company that reviews two competitors for your company. Include the following components required in the analysis:

· Explain why you selected these two competitors.

· Describe the product or service offered by each competitor and how it is similar or different to your product or service.

· Describe the reputation of each competitor.

Remember you need to provide quality sources, properly formatted using SWS guidelines, to support this information.

Social Media Analysis

In three to four paragraphs, analyze the social media presence of each competitor, including platforms, types of content, the number of followers, and their customer reviews including the company response.

Note: this section was started in the Week 2 Discussion. Review the feedback and provide a complete analysis here.

Remember you need to provide quality sources, properly formatted using SWS guidelines, to support this information.

SWOT Analysis

Complete your written SWOT analysis below. Rationalize why you chose these SWOT elements, explain the importance of each SWOT element as it relates to marketing your product or service, and explain the impact to the business and/or customer.

Note: refer to the instructions and sample provided, but do not copy any information from the sample. It is provided to model expected depth and scope and should not be used in your response. 

Strengths

In two paragraphs identify the strengths of your hypothetical business. Strengths are internal and under your control. Think about features and benefits to the customer.

Weaknesses.

In two paragraphs identify the weaknesses of your hypothetical business. Weaknesses are internal and under your control.

Opportunities.

In two paragraphs identify the opportunities for your hypothetical business. Opportunities are external, happening outside your company, that could be positive for your hypothetical business.

Threats.

In two paragraphs identify the threats for your hypothetical business. Threats are external, happening outside your company, that will impact your business, such as new government policies or laws.

Once you have completed the written analysis, Add three short bullets in the table below.

SWOT Analysis

Remember you need to provide quality sources, properly formatted using SWS guidelines, to support this information.

Customer Analysis

Unmet Needs

In one or two paragraphs, discuss challenges customers are facing with current industry offerings? Have customers attempted to solve these challenges themselves? If so, how? In what part of the customer journey are there pain points? What are the severity and incidence of these pain points? What do customers not like about current offerings? Why are they dissatisfied? Why are some customers changing brands or suppliers? Why are others leaving the category altogether?

Customer Motivations

In one or two paragraphs, why was a certain offering chosen over another one? What elements of the product/service do customers value most and dislike most? What are the customers’ objectives when they use products and services in this category? What benefits are they really buying?

Segmentation

In one or two paragraphs, do the customers fall into any logical groups based on needs, motivations, or characteristics? Who are the biggest spending customers? The most profitable? The most attractive potential customers? How much could each segment grow?

Sources (start this on a new page)