Prepare a Situational Analysis for your firm, product or service as described on pages1-2 of the Marketing Plan Worksheet. In this section, analyze the market for your product or service in more depth. Your analysis should be based on secondary marketing research data. Consult the reading for this week for tips on identifying and accessing secondary sources.
Some questions to answer:
How attractive is the market or industry?
What are the barriers to entry and exit?
What industry trends and emerging submarkets exist?
How much is the market growing or shrinking? By what percentage per year?
What are the factors that will enhance or reduce profitability?
What are the strategic uncertainties?
Are there any ethical issues to be considered?
Part C of the Situational Analysis asks you to analyze the key competitors and the estimated market shares of each competitor. The analysis should cover both direct and indirect competitors. Show the direct competitors in a table such as this:
Name of Competitor Percent of Market Share Competitive Strength Price (add rows as needed)
Your Situational Analysis should be four to five pages long and should include at least four outside sources. Provide APA-style citations for any resources used. Your document should follow the following formatting principles for business documents:
12 point font;
use clear headings and minor headings to organize thoughts and analysis;
embed tables, charts, or graphs in the text;
provide a title page; and
an APA-style reference page.
Click the Grading rubric link to see the criteria I will use to assess your work and to compare your work to the rubric before submitting it.
Due: Sunday at 11:59 p.m., CT
Points Possible: 30
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