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Why
The situational analysis assignment was a mini version of step 1 of the mark
Why
The situational analysis assignment was a mini version of step 1 of the marketing process. A larger situational analysis includes an internal and external analysis, SWOT, PESTLE, competitor analysis, and demand analysis, which is the research base for forming marketing strategy.
Marketing strategy boils down to two questions:
Who are our customers?
How do we create value for our customers? (4 P’s)
Value through creating products.
Value through crafting communications, advertisements, and promotions.
Value through placing our product at the right location (place) at the moment our customer needs it.
Designing pricing around the customer.
Once we’ve established our target market, everything we do revolves around satisfying our target market.
How to complete the assignment
Fill out the attached worksheet and submit via Moodle.
I recommend you choose a business you’re interested in interviewing for, a business idea, a startup, or a family business. You can use the same company as the earlier assignment(s), or select a new one.
If you are filling out the larger blank boxes, or the section states “brief overview or reasoning”, write in sentences and paragraph format.
If you are filling out the tables–you can use bullet points or shortened sentences.
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