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.
Your paper must consist of the 8 (eight) titled sections listed above. Let 'numbers' and factual research drive and support your analysis and conclusions. You must also include an Introduction and a conclusion titled section to the five sections listed above, for a total 9 (nine) titled sections.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.