MKT 575 Week 2 Industry and Competitive Analysis -
Your learning team has been hired to consult with a U.S.-based major consumer company as they launch a new product in their industry. Your aim throughout this course-long project will be to develop a marketing plan for your client to gain and maintain a competitive advantage in their industry, and create value for their target market. Create a new product or service to be offered by a company (either an existing firm or a start-up company) in one of the following industries:
• Sporting goods
• Snack foods
• Environmentally-friendly products
Develop a 2,100-word analysis which completes an industry and competitive analysis for your client. Include the following components:
• Describe in detail your product/service offering.
• Determine market needs (justification for your choice of product).
• Review market history and estimate future growth potential.
• Analyze your company's strengths and weaknesses as they pertain to this product launch, as well as any external opportunities, threats and trends.
• Create a summary SWOT chart including these elements, and identify the three most critical success factors for your project.
• Analyze potential competition for your product - provide an overview of the competitive landscape, and assess your competition's strengths and weaknesses.
• Create a 10-question survey that you will use for your primary market research. The questions should collect primary data about the buyers (i.e. your target market) to help you develop your branding and marketing communications plan. Include at least four references, at least one of which must come from the University Library.
Format your assignment consistent with APA guidelines.
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