Assignment:
Marketing plan, you will develop a Situation Analysis. The Situation Analysis follows the Executive Summary and table of contents in the marketing plan. This will be the first section of the plan. The purpose of the Situation Analysis is for the marketer to assess the situation and the market in which the company competes. The Situation Analysis contains background information on trends, competitors, market needs, target markets, and products.
The Situation Analysis is an in-depth report, as it contains numerous elements. Your Situation Analysis begins with a Market Summary, followed by a SWOT Analysis, Competitive Review, and Product Review.
Complete your Situation Analysis by providing 1-2 paragraphs covering each of the following areas:
Target Markets: Provide information on your target market. Who will you be targeting and why? What are the demographics for your target market? What geographic areas are you targeting and why?
Market Needs: What are the market needs? What unmet need will your product or service meet? How will your product benefit your customers?
Market Trends and Growth: Are there any market trends that you will be capitalizing on? Discuss Online and Internet market trends and how you will leverage them? Has there been any growth in the market? Please provide specifics.
SWOT Analysis: List the key product strengths, weaknesses, opportunities, and threats.
Competitive Review: Identify key competitors, describe their position in the market, and briefly discuss their strategies.
Product Review: Discuss the main features and benefits of your product.
Marketing Plan
Advanced Principles of Marketing
Executive Summary
Edual enterprises was established in the year 2008 in San Francisco with the motto "all electrical you may need" which is a highly recognized electrical company that boasts a wide selection of high quality electrical appliances. Edual has accomplished a large local market share over the 9 years it has been in business and is determined to showcase its fundamentals to the world (Jain & Haley, 2009).
Edual enterprises offer all electrical items to its consumers across the globe and it offers all electrical products and services to the residents of America and beyond. This company focuses on providing the best quality products and services that stands out among their competitors and is slowly becoming globally famous by opening branches in different locations (Westwood, 2010).
This company provides all electrical items and services to the locals since there is great need for people to stay connected to the digital services across their homes and places of work. The great demand makes these products and services to be on demand in the market. It was introduced in good time to cater for the needs of the people electrically owing to the great competition for quality by its competitors.
The locals therefore have an inclination for electric services and products which have been approved by the standards of the United States (Jain & Haley, 2009).
The company has proper management to eliminate any threats and weaknesses owing to the SWOT analysis that is always conducted. Increment in brand has also been observed as well as segmentation which has been witnessed due to an improved human capital and production process. The goals of this company are to increase product and production quality as well as sales. It is therefore deemed that the financial goals of Edual company is that due to advanced production and product quality, it will improve sales from $21 million to around $28 million in the year 2020 (Westwood, 2010).