Demonstrates the ability to identify and track relevant economic trends to inform the strategic marketing process

Description

Competency 2 – Demonstrates the ability to identify and track relevant economic trends to inform the strategic marketing process.

Marketing Plan – Part 2: Situation Analysis SWOT Analysis Create a table that identifies the company’s internal factors (strengths and weaknesses) and external factors (opportunities and threats). Internal factors can include: management, offerings, marketing, personnel, finance, manufacturing, and R&D External factors can include: Consumers, social issues, competitive environment, technological developments, economic trends, and legal/regulatory environment. Industry Analysis This section should begin with an overview of the industry in which the company operates. Include a competitors analysis to demonstrate your understanding of the competitive marketing strategies being used Customer Analysis Satisfying customers and providing value to them is why the organization exists. This section should address who the company’s target customers are/will be. Include information about market segmentation and targeting. Reflection How has this assignment helped to prepare you for more responsibility in your current position or a position you’d like to have in the future. (2 paragraphs)