Qusetion: Individual Mini Marketing Plan
Please draft a document between 1,000 and 1,500 words where you cover the following topics:
Situation Analysis: Start off by analyzing the situation your company is in. One way you can do this is by conducting a SWOT analysis. Another approach is to critically assess what the company needs to do to enhance or sustain its growth and success.
You can also use a framework such as the Ansoff Matrix to determine the strategy your company should purse.
1. Market research
Please think of what information will lead you to make better decisions and how you will collect it?
2. Target market or Target Segment
3. Positioning (4 Ps)
Pricing, Promotion, Product, Place (distribution)
4. Competitive analysis
Who are the competitors and what are their strengths and weaknesses?
5. Market strategy and Competitive Advantage
Will your company pursue focused differentiation or focused price leadership? I stress the word "focused" because your strategy should be based on your target segment.