Assignment:
Product or Service Description
Describe for the reader what it is that you wish to bring to market. If it is a product, describe the product, its functionality, and how it works. If it is a service, describe the service offering so that the reader understands what they would receive.
It is suggested that you create a product or service on your own. Please do not attempt to write a marketing plan for Google or Aflac, as that is beyond the purview of this course.
Your description should be complete, including:
Where your company is located
The problem your product/service solves - as seen by the target market (not you) - and to which the target market would say, "Yes, that is a problem and no one has solved it"?
The competitive advantages that you offer
The challenges might you face in the marketing of this product or service
Ensure that you have adequately described your product or service. By the time your Product or Service Description is written, the reader understands what you want to bring to market. If you have a Service Description, the reader knows where you are located, what your service offers, where (parking?), and so on. Describe it so that the reader envisions the product or service.
II. SWOT Analysis
The SWOT Analysis is written in bullet form, with each bullet not exceeding two lines. The SWOT Analysis is not submitted in essay form.
The SWOT Analysis demonstrates a clear understanding of these specifics:
STRENGTHS that you bring to the market and that make you a formidable competitor
WEAKNESSES that you know that you need to address, as your competition is aware of these (or may become aware) and will likely exploit these. Your WEAKNESSES should be addressed as soon as possible
OPPORTUNITIES that allow you to capitalize on your STRENGTHS. Where might you grow your business and revenues?
THREATS in the macroenvironment. These include those aspects that you cannot control, but they are there - the economy, the competition, political/legal environment.
You might also consider the past history of the industry or business environment in which you plan to bring your product or service. Ensure that your SWOT is candid, factual, and is non-fiction. You want to demonstrate your realistic assessment of that which you have going for you and not going for you.