Marketing Plan
You will continue your comprehensive marketing plan, researching the SAME company that you researched in previous units. You will conduct an Industry Analysis and a Competitive Analysis.
Industry Analysis
Perform an industry analysis detailing how the overall industry is performing. Research trends in the industry as well as projections for the future. Remember to cite your research.
Competitive Analysis
Perform a competitive analysis reviewing multiple competitors that offer similar products/services. How is your company different from its competitors? Think about the products/services offered or their pricing strategy or even their distribution strategy. What is the overall brand perception in the mind of the consumer? How does each rank base upon a pertinent parameter?
Should be a minimum of two pages in length, double-spaced with a reference page and title page. References should include at least one additional, credible reference beyond the textbook. All sources used must be referenced; paraphrased and quoted material must have accompanying citations and cited per APA guidelines. Include the use of subheadings (consider using Industry Analysis and Competitive Analysis).
Upon completion of this unit, students should be able to:
1. Describe the impact that changes in the external business environment have on an organization.
2. Evaluate the overall industry health of which an organization is a member.
3. Compare the similarities and differences of multiple competitors of an organization.
4. Explain how the marketing mix is used to reach the target market.
5. Assess the competitive environment of an organization with respect to its ability to effectively reach its target market.
6. Explain the importance of positioning as it relates to brand strategy leading to brand equity.
a. Appraise a company's overall brand perception relative to its competition.