- This week you will be completing Assignment #1 for your product (chosen in week 1) marketing assignment. For this assignment, you will complete a review of the macro-environment and SWOT as well as a review of the industry and its primary trends. Your work will be a maximum of 600 words and include professional business writing. You must also include the resources you used to complete this work using the MLA or APA format. For detailed feedback, submit your work as a .doc attachment. You will submit all of the following information on your product or service.(3 sections)
Macro-Environment Analysis, SWOT, and Industry Analysis
Section 1 – Macro-environment analysis. These are trends from the external environment that may impact the marketing plan in a positive or negative way. These are factors (culture, demographic, political/legal, social, economic, and technology) the marketer cannot control, but must know about for effective marketing. See text pages 86-98
Section 2 – SWOT See text pages 28-30
Section 3 – Industry Analysis
- Describe the industry in which your product competes.
- Who are the other players in the industry? Is this a highly competitive industry? Why or why not?
- Is the industry growing, stagnant, or consolidating? If appropriate, what is the industry growth rate?
- What the 2-3 primary success factors for a product competing in this industry?
- What are the growth projections for the industry in the future?