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Purpose: Students will have the opportunity to apply course concepts to the mark
Purpose: Students will have the opportunity to apply course concepts to the marketing of an actual product.
The situation analysis examines the history of the product, the current situation of the product, and the future of the product considering the organization’s plans and the external factors and trends affecting the product. The goal of the situation analysis is to identify the critical factors impacting the firm so that the firm can build on its strengths, correct its weaknesses, exploit its opportunities, and minimize or avoid its threats.
When conducting a situation analysis, you will be identifying industry trends, analyzing competitors, assessing the company and product, and researching the customer.
Select a product/brand from the following list and conduct a situation (SWOT) analysis for the product/brand. The descriptions that follow each product should guide the start of your research.
Apple iPhone – The Apple iPhone is one of the most popular smartphones in the world, and its brand is synonymous with innovation and high-quality design. However, it faces fierce competition in the smartphone market, and its high prices could be seen as a weakness.
Tesla electric cars – Tesla is a pioneering company in the electric car market, and its vehicles are known for their high-performance and innovative technology. However, it faces challenges from established car manufacturers who are investing heavily in the electric car market, which could be a threat to its market share.
Airbnb – Airbnb has disrupted the traditional hotel industry by offering a unique and affordable alternative for travelers. However, it faces challenges from local governments and the hotel industry that are concerned about the impact on housing prices and regulations.
Each student will research the company producing the product and the external environmental factors for their chosen product. The findings of the research should be organized and presented in a written report in the format of a situation analysis/SWOT Analysis. The SWOT Analysis must include a Works Cited page and sources must be referenced where appropriate in the body of the report. This is not a web site summary. While corporate web sites may be used, the corporate web site should not be the only source of information. Suggested reference sources can be found in the Marketing SWOT Project Resources folder located in our course site. The objective of this assignment is for the student to construct a SWOT Analysis using research findings. The objective is not to locate an already completed SWOT Analysis.
Topics to address should include but are not limited to the following.
Situation Analysis (SWOT Analysis)
§ Internal Strengths and Weaknesses – This section can be completed after covering Chapter 2. The results of the research will determine if the content should be categorized as a strength or a weakness.
oWhat is the history of the firm including, sales, profits, and organizational philosophies?
oWhat is the nature of the firm and its current situation?
oWhat resources does the firm have? (financial, human, experience, skills, assets)
oWhat policies inhibit the achievement of the firm’s objectives with respect to organization, resource allocation, operations, hiring, etc?
§ External Opportunities and Threats – This section can be completed after covering Chapter 5. The results of the research will determine if the content should be categorized as an opportunity or a threat.
oSocial – What major social and lifestyle trends will have an impact on the firm? What action has the firm taken to respond to these trends?
oDemographics – What impact will forecasted trends in the size, age, profile, and distribution of the population have on the firm? How will the changing nature of the family, the increase in the proportion of women in the workforce, and changes in the ethnic composition of the population affect the firm? What action has the firm taken in response to these developments and trends? Has the firm reevaluated its traditional products and expanded the range of specialized offerings to respond to these changes?
oEconomic – What major trends in taxation and income sources will have an impact on the firm? What action has the firm taken in response to these trends?
oPolitical, Legal, and Financial – What laws are now being proposed at international, federal, state, and local levels that could affect marketing strategy and tactics? What recent changes in regulations and court decisions affect the firm? What political changes are taking place at each government level? What action has the firm taken in response to these legal and political changes?
oCompetition – Which organizations are competing with the company directly by offering a similar product? Which organizations are competing with the firm indirectly? What new competitive trends are emerging? What benefits does the competition offer that are not offered by the company being researched? What is the market share of each competitor?
oTechnological – What major technological changes are occurring that affect the firm?
oEcological – What is the outlook for the cost and availability of natural resources and energy needed by the firm? Are the firm’s products and operations environmentally friendly?
Each student will submit a paper in the format of a SWOT analysis that details his/her research findings. All sources must be properly credited within the body of the paper as well as on a Works Cited page.
This assignment will be screened for plagiarism using Safe Assign.
To maximize the points earned for this assignment, the grading rubric should be reviewed before completing this assignment.
Submission instructions in the syllabus should be reviewed prior to submitting. All assignments must be submitted as an attached document with a .docx or .pdf file extension. Work that is copied and pasted or entered directly into the submission area will not be graded.
Strengths – Internally focused, supported with research
20 possible points (20%)
Weaknesses – Internally focused, supported with research
20 possible points (20%)
Opportunities – Externally focused, supported with research
20 possible points (20%)
Threats – Externally focused, supported with research
20 possible points (20%)
Sources
10 possible points (10%)
Grammar, spelling, mechanics
10 possible points (10%)
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