Marketing Plan: Situation Analysis
- Segmentation & Target Market Analysis
- Competitive Analysis
- SWOT Analysis
This section will begin with an application of segmentation of the market of your fictional company. Think about behavioral, psychographic, demographic, and geographic criteria that might help you in segmenting the market. Once you have completed the segmentation, identify the target market that your company will focus on including your rationale. It's important for the marketing manager to understand the competitive environment within the industry in which they operate. Compile a detailed competitive analysis looking at the top three or four competitors and differentiating each against your company. Finally, assemble and thoroughly explain a SWOT Analysis with a minimum of three elements under each area.
Your APA formatted assignment should be a minimum of three (3) pages in length (not including the title and references pages). Be sure to use the subheadings as given above. Because this assignment is a comprehensive plan, additional research and support should be included. You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old.
Company info: Arimount is a well-known beauty and grooming company that has been in the industry for about 20 years. They would like to launch a new deodorant product. The company's development and research department has created a new chemical that will allow deodorants to work for up to five days-even after showering. The company is interested in increasing their overall market share with the introduction of this innovative product.