Individual Assignment: Elements of a Marketing Plan Paper
Purpose of Assignment
In today's fast-changing business environment, marketers must understand the environmental factors which will affect their marketing actions. Through environmental scanning, organizations can find out not only what consumers want, but also take advantage of market opportunities before their competition and react and respond quickly to market changes.
Resources RequiredWatch the video case study "Geek Squad: A New Business for a New Environment."
Read the case study discussion on pp. 88-89 of the Marketing text. Keep this case study in mind as you complete this assignment.
Write a 1,050-word report using your company or one with which you are familiar (if you prefer, your facilitator can assign one to you).
Answer the following questions for your chosen organization.
• Explain what the specific key environmental forces are that created an opportunity for your company.
• Identify if there have been changes in the purchasing patterns of your organization's target market in recent years.
• Conduct an environmental scan for your chosen company to identify key trends. For each of the five environmental forces (social, economic, technological, competitive, and regulatory), identify trends likely to influence your company's marketing efforts and product offering in the future.
• Explain what differentiation strategy your company should undertake to encourage their target market to choose them over other competitors.
• Analyze what lessons you might learn from the Geek Squad case study.
Include at least three references, at least one of which must come from the University Library.
Format your paper consistent with APA guidelines