This part of your comprehensive project will focus on the external marketing environment.
1. Provide a brief description of each external marketing environmental factor (i.e. CREST- Competition, Regulatory, Economic, Social, Technological) and what types of information you would want relative to each factor (example - Competition - Who are my competitors?,etc).
2. Provide some rationale for the points you are making.
3. You are expected to provide some evidence of secondary market research. Please list your sources and cite your references.
For the competitive environment I came up these as the information I would want. Could you please answer them in 2 paragraphs or more while providing rationale and evidence of secondary research. This is connection with us coming up with a new business of assembling and selling drones in Canada. We call it the drone 360.
• Who are my competitors? (NB. DJI PHANTOM IS TO BE OUR MAIN COMPETITOR.LIST OTHERS WE MIGHT BE GOING AGAINST)
• How do my competitors reach the market?
• Are my competitors making any changes?
• Are they successful? If yes, why? If no, why not?
• How are my competitor's fees, operations and marketing structured?
• Is the industry growing?
• What are the current trends within the industry?
• Who are the leaders within the industry, and why are they successful?
• What type of marketing strategies are prevalent within the industry?
• What do potential or existing customers like about my competitor's products/services?
For the regulatory environment I came up with these. Please do same as above.
• What are the current rules in Canada governing drones?
• What privacy challenges do drones face?
• What are the privacy laws concerning drones?
• What aviation regulation and licensing constraints may arise in the foreseeable future?
For the economic environment I would need you to come up with the questions and answer them. Questions concerning what would we as company need to out for and know about the economy that could affect our drone business etc.