12 May IS TECHNOLOGY AN ISSUE, EITHER AS A THREAT OR OPPORTUNITY?
Refer to this Google document to see an outline of the components of the project that will be completed during this course. If you have chosen a new start-up company for the plan, you will utilize external marketing for this project in order to market and promote your new business. If you have chosen to address a workplace situation or problem, you will use internal marketing for this project, which includes marketing the proposal to the pertinent individuals within the company. For this week, complete only the Situational Analysis section of the paper. The remaining components will be addressed in subsequent weeks. The Situational Analysis encompasses the 5Cs – Customer, Company, Context, Collaborators, and Competitors. For this assignment, you will consider the following items: (This is a possible list of areas within the 5Cs, and not a comprehensive list. Depending on whether your project is a new start-up, or existing workplace issue, there may be different areas that should be considered in this section.) Customer Who are/will be the customers? Consider demographics (age, income, household composition, ZIP code), psychographics (attitude to product/service, competition, or advertising), current level of customer satisfaction. What do the customers want? Consider the customers’ buying behavior, channels used to purchase the product/service, price sensitivity. What changes do you expect in the future regarding the customer base? Company What is the company good at doing? What is the company known for? What does the company want to become in the future? The marketing plan is to facilitate our goal and strategy of becoming what in the future? Context Is the economy a factor? If so, what is the current state of the economy (unstable, growing, etc.)? Are politics a factor? If so, in what area (supplier country, international issues, etc.)? Are there any legal issues to consider (consumer laws, workplace considerations)? Is technology an issue, either as a threat or opportunity? Are there any societal concerns that may affect the company (demographic or attitude shifts)? Collaborators Are there concerns with supply chain providers? Does the distribution channel need modification? Competitors Who are the major competitors? What are their strengths? Requirements: Use a new blank Word document to provide a brief overview of current situation of the company based on evaluation of the 5Cs. This should be approximately 1-2 pages in length. Include outside sources to support your analysis. Utilize proper APA formatting in all areas of the report – cover page and reference page (neither counted in length of paper), running header, and standard 12 point font with 1 inch margins. (Refer to the Orientation course and the APA manual for proper formatting techniques.) Show critical thinking, discernment, and problem solving regarding the topic and express thoughts clearly and coherently.
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