Choose a product or service. Identify at least two significant factors for each of the four SWOT components. Provide specific information for controllable aspects (the marketing mix) as well as all uncontrollable environments. For example, is the company doing a good job promoting its services? Regarding uncontrollable factors: what part(s) of the economy (GNP, inflation, interest rates, unemployment, etc) affect the company and why? Are there political/cultural/regulatory affectations?
Choose a product or service that you connect with as a consumer. Explain how the company has used the consumer decision process model to effectively market the product or service to you. Be sure to discuss: (1) detail the strategy based on the model, (2) explain why the strategy was successful for you as a consumer, (3) judge how the company should move into the future, (4) explain the decision-making process you experienced as a consumer when choosing this product or service.
Put yourself in the position of an entrepreneur who is developing a new product or service to introduce into the market. Briefly describe the product. Then develop the segmentation, targeting, and position strategy for marketing the new product. Be sure to discuss: (1) the overall strategy; why segmenting, targeting, and position are useful methodologies, (2) segmentation and targeting choices, (3) characteristics of the target market, (4) why that target market is attractive, and (5) the positioning strategy.
