You are to clearly define/describe the client’s competitive advantage and its target market. You need to justify/explain why your analysis is correct. The following is an outline of the concepts you should discuss or consider. Remember, this should not be a report on “what it is” but also address “what it should be” (you are to be making recommendations). This analysis should include, but is not limited to (i.e., you can include other information than what is listed):
Competitive advantage
What type of competitive advantage does the firm appear to have?
Justify why you believe that is the competitive advantage using evidence collected via an online/external search.
Situation analysis
This involves conducting a SWOT analysis
You should also conduct a Marketing Environmental analysis (i.e. Social, Demographic, Political, Technological, and Competitive factors) to identify potential issues/opportunities that may arise.
Target Market
Economic factors (i.e., unemployment, national income, cost of living, purchasing power, inflation, recession)
Examine how these factors could impact the sale of the product. Pay attention to the statistics discussed and try to incorporate them into your answer.
Competitive factors
Identify what competitive the firm faces. Please note this does not necessarily mean competitors that make and identical/similar product. It may include firms that make comparable alternatives (i.e. a potential competitor for Coca Cola could be consumer electing to purchase water bottles to fill during the day to satisfy their thirst)
Consumer decision making issues
What factors impact the consumer decision making process and how does it play a role in deciding whether or not to purchase this product?
Try to concentrate on the (1.) consumers level of involvement and (2.) cultural, social, individual, and psychological influences on buying decisions.
Differentiation
Examine strategies for selecting a target market and determine what targeting strategy should be used. How does each of the proposed target market segment differ from on another.
Positioning
How should the product be positioned in the consumers mind? Why do you believe this is the best position for the product? Justify your rationale with support from outside materials.
Over all, what tools can the firm use to achieve its goals
Sample Solution
