Weaknesses are internal and within the control of the company.Formulate each with 1-3 words, for example Pricing, and then proceed to explain it in detail. Explain why it is considered a weakness.

1. Situation Analysis

a. The Industry: What are the main trends in the market?

You must provide a detailed review/analysis of the relevant industry and support your writing with sources found on Galileo to cover the following topics:

1) the definition and
2) size of the industry (in terms of dollars)
3) the expected growth of the industry and
4) general trends in the industry – this should be a detailed analysis supported by examples from reputable publications such as professional marketing journals, review the additional information posted about how to search for sources on Galileo.

You must identify at least 3 specific trends in the industry of your company and support each trend with sources found on Galileo. You must discuss each trend in detail to inform the reader about the importance of this trend to company’s goals and future growth.

The industry definition

b. The Company: Who are we?

You must provide a detailed description of the existing company (this is generally about 1 page in length). If your company has multiple product lines. It is your job to restrict the topic to a workable level.

For example, Sony sells over 100,000 items; you must limit your project to a workable level such as a single product line like “TV sets for household use.” Items to be included are: company history, market size, annual sales, major company events, partnerships, etc.

c. SWOT Analysis (refer to Ch. 2, see Marketing Memo, p. 51)

In this section you will list all possible issues that could have a positive or negative impact on the company. However, listing isn’t enough; marketing consultants MUST develop insights about critical issues. Since often an item could be considered a strength or a weakness, opportunity or threat, you need to briefly explain why it is what you say it is (see below).

Strengths:

• Strengths are internal and within the control of the company.

• Formulate each with 1-3 words, for example Company Size, and then proceed to explain it in detail. Explain why it is considered a strength

• Another strength and explain why it is considered a strength.

• Discuss at least three strengths

Weaknesses:

• Weaknesses are internal and within the control of the company.

• Formulate each with 1-3 words, for example Pricing, and then proceed to explain it in detail. Explain why it is considered a weakness.

• Discuss at least three weaknesses

Opportunities

• Opportunities are external factors and forces that may impact the company and that are outside of the control of the company

• Formulate each with 1-3 words, for example Consumer Focus on Well-being, and then proceed to explain it in detail. Explain why it is considered an opportunity.

• Discuss at least three opportunities

Threats

• Threats are external factors and forces that may impact the company and that are outside of the control of the company

• Formulate each with 1-3 words, for example Consequences from the 2020 Pandemic, and then proceed to explain it in detail. Explain why it is considered a threat.

• Discuss at least threats

d. The Competitors: Who will you compete against?
You must identify at least three major competitors in the industry, or a product from another industry that offers similar benefits and analyze them. This includes a brief overview of each company, their market size (in terms of sales or other metric). You will discuss each competitor’s strengths and weaknesses as differential advantages compared to your company (basically, what do they do well and what weakness can we take advantage of). Please choose and analyze at least one small in size competitor.

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