24 Jul Select a company, and choose a specific product or service
Select a company, and choose a specific product or service provided by that companyfor the basis of your project. Your task will be to perform a series of analyses including:• Market analysis: Discuss the overall industry situation for the company and your chosen product or service: Ø SWOT analysis to better understand the “Company” and “Competition”Ø “Consumer”: what are the consumers’ needs and wants? How does the company provide value (e.g., economic, functional, or psychological)? Describe the stages of the customer buying process, and the key sources of influence (e.g., internal, social, external) at those stages.• Analyze the company strategy: Conduct segmentation, targeting, and positioning analyses.• AFTER performing your market and strategy analyses (the two main bullet points above), develop several strategical marketing recommendations to improve the brand (i.e., revolving around price, promotion, place and/or product):Ø The recommendations should be based on primary and secondary market research.Ø You should outline the goals of your recommendation, and how you would measure the success.• As you develop your recommendations, it will be important to identify your project approach:Ø Idea first, insights second (you suggest an idea, and then conduct analyses to evaluate it)Ø Insights first, idea second (conduct environmental scanning then analysis to form an idea)The paper should be roughly 4-6 pages (double-spaced, 12-pt Times New Roman font.) Not included in the page count are appendices, tables, figures and the bibliography.Your grade will depend on the quality and richness of your analyses and recommendation. It is strongly recommended that you focus on providing one, in-depth recommendation rather than several, surface-level recommendations. Keep in mind that the final paper will be judged based on the quality of the analyses provided, the strength of the recommended strategies, and the creativity/viability of the implementation plan.
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