Situation Analysis and SWOT
You need to be clear and realistic about your current product, market, opportunities, and challenges so that you can devise a clear path from your current to your desired situation.
A situational analysis is a critical review of your current business situation. It serves as a starting point for your marketing plan. From a situation analysis, you may find some critical points that may influence your product in a target market. SWOT (Strengths, Weaknesses, Opportunities, Threats) summarizes the key findings from the situation analysis. SWOT analysis is an essential part of marketing planning.
In this assignment, you need to assume yourself as a marketing manager who will bring your new product (or service) to the target market, Hayward. To complete this assignment correctly, follow the instructions below: (note that you will lose points if you fail to follow the instructions.)
- Read the lecture slides (or watch the lecture videos) and textbook carefully.
- Conduct a situation analysis using what you learned from the lecture slide/textbook. And, provide details about the Hayward market to which you will bring your product (or service). The details may include (but are not limited to): Demographics, market competition, etc. You may also use the frameworks such as 3Cs (customers, competitors, company) or 5Cs (3Cs + Context and Collaborators) for situation analysis.
- Select one (1) simple product (or service) for your target market, Hayward, CA. It can be either a new product or an existing product in another market that is not yet introduced or available in the Hayward market. For example, a drone cannot beselected for this assignment because it is well known to the customers in Hayward. A foreign good may be the right choice because of its unfamiliarity with the market. Whatever you choose, you must ensure that you are familiar with the product (service) characteristics (i.e., price, quality, etc.).
DO NOT CHOOSE products from such prominent brands as Apple, Tesla, Coca Cola, or Microsoft simply because they are too big for this assignment and are NOT NEW to the target (Hayward) market.
- Then, find and provide what you believe to be the three to five most significant elements of each SWOT dimension for your product, along with brief supporting reasons
Submission Requirements:
- 12-point font size;
- Times New Roman only;
- MS-Word only;
- Maximum (up to) 4 pages (excluding a cover page, if any);
- Single spaced;
- One-inch margin on all sides;
- No typos/grammar mistakes.
You will lose up to 50 percent of the points assigned if you do not follow these requirements.
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