15 Sep Marketing Toolkit
- Conduct a comprehensive analysis of the following four areas (See handout Market Analysis at link below):
- Industry Analysis– Identify detailed information on your industry
- Competitor Analysis – Identify 2-3 competitors in your market and conduct a detailed analysis of their business
- Potential pricing
- Potential distribution channels
- Design a research data toolkit or portfolio that contains various resources (websites, journals, free sites, trade associations, etc.) specifically for your product. Below is an example of how you might want to design your toolkit. It includes two websites for the restaurant industry. Once identified I recommend including a brief descriptor easier to referencing.Marketing SitesDescriptor (for your reference)10 tactics for driving food and beverage sales (Links to an external site.)Links to an external site.
- A minimum of 12 resources should be identified. You may include resources from the industry and competitive analysis. Also, the internal and external checklist sheet could be used as a framework for your toolkit. As always presentation counts.
- Start at Section 2: Analysis and Competition
- Upload the Market analysis paper and toolkit into canvas. You only need one per team. Remember to include team member names on all assignments.
PRIOR to starting the assignment, READ
This will provide you with a good review of the different types of data collection, what and where are some good sources for you to find out about your specific business and other pertinent facts about your specific business.
you will conduct a thorough analysis –market research- on ONE business of your choice. You will use this business to complete all of the marketing portfolio/plan assignments for the semester. The overall goal for this assignment is for you to become an “expert” on the industry, your specific market (business) within that industry, competitors and potential customers. This will let you know how viable is your business venture, if you can REALLY ADD VALUE to the market and if it can be profitable to you.
You will conduct a thorough market analysis by answering the questions in the attached handout covering the four areas listed in the assignment. The second part of the assignment is a table/grid that will outline where you found your information. Basically, it is a bibliography with brief descriptions, so that you can easily reference information if you need to go back to your sources. You may use APA or MLA style.
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