Situational Analysis Essay
A Situational Analysis (SWOT) is designed to gather information that identifies both internal and external factors that are pertinent to the firm and its ability to succeed in the future. Many academicians and businessmen are convinced all new product ideas, new market segments and product expansions are derived from the factors that shift demand (aka the external factors of the firm). The internal factors (SW) are strengths and weaknesses of the firm and the external factors (OT) are the opportunities/threats facing a firm. In marketing and advertising, understanding the external factors are very important. Here is a partial list of the external factors that shift demand:
Demand Curve Shifters
Consumer tastes and preferences
Competitors (what they are doing and planning to do)
For this essay, the Situational Analysis is to be used as a planning step to help you better understand and identify the factors which affect your thinking and ultimately the design of the “big idea” for your advertisement/promotion for your overall Promotions Project. Successful completion of this step requires you to complete a fairly detailed research agenda of your product, competitors, demand shifters and the industry your firm operates within.
In a minimum of 5 pages, address these factors of the Situational Analysis. You must use APA level headings for each item in the Situational Analysis; beginning with Situational Analysis, a Level One heading.
Components of the Situational Analysis:
Product description (1 paragraph)Company description (1–2 paragraphs)
Stage of the Product Life Cycle (PLC) the product is in (2 paragraph explanation)
Sales history and market share (1–2 paragraphs)
Description of the consumer purchase process (1–2 paragraphs)
External demand factors, see list above and make sure you address EACH factor, if a factor isn’t pertninet to your product; list the factor and a short explanation. Remember to let your research efforts guide the writing of this section.
NOTE: This assignment must conform to the rigors expected of a grad school student and the use of proper APA guidelines with the persistent link present in your references page(s) and your research must be properly annotated throughout the document. In addition, you must exhibit a competent level of research and writing that demonstrates your understanding of this assignment and the ability to analyze/discuss the topics of this assignment, not just a simple regurgitation and quotation of the terms/definitions/thoughts in the textbook and your research. The MBA is a practitioner’s degree. The degree signifies that you can think, analyze, and solve problems; and then communicate solutions to business executives effectively and efficiently. This assignment is designed to sharpen those skills, please dedicate the requisite time and efforts.
Click the link below to read how to make/use a persistent link in your essay.
You will submit this assignment through SafeAssign, a program that checks for plagiarism. You will have three opportunities to turn in the essay in draft form. Once your draft comports with SafeAssign you will then have one opportunity to turn in your final draft. Be sure you turn in the paper you want graded in the final draft SafeAssign link.
This assignment is due by 11:59 p.m. (ET) on Sunday of Module/Week 2.