For phase II of your marketing plan, you will develop a Situation Analysis. The
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Question
For phase II of your marketing plan, you will develop a Situation Analysis. The Situation Analysis follows the Executive Summary and table of contents in the marketing plan. This will be the first section of the plan. The purpose of the Situation Analysis is for the marketer to assess the situation and the market in which the company competes. The Situation Analysis contains background information on trends, competitors, market needs, target markets, and products.
The Situation Analysis is an in-depth report, as it contains numerous elements. Your Situation Analysis begins with a Market Summary, followed by a SWOT Analysis, Competitive Review, and Product Review.
Complete your Situation Analysis by providing 1-2 paragraphs covering each of the following areas:
Target Markets: Provide information on your target market. Who will you be targeting and why? What are the demographics for your target market? What geographic areas are you targeting and why?
Market Needs: What are the market needs? What unmet need will your product or service meet? How will your product benefit your customers?
Market Trends and Growth: Are there any market trends that you will be capitalizing on? Discuss Online and Internet market trends and how you will leverage them? Has there been any growth in the market? Please provide specifics.
SWOT Analysis: List the key product strengths, weaknesses, opportunities, and threats.
Competitive Review: Identify key competitors, describe their position in the market, and briefly discuss their strategies.
Product Review: Discuss the main features and benefits of your product.
Explanation / Answer
Target market means group of people who targeted by an organisation and decide to sell its products and services. My product is laptop.
My target people are students and software employees and demographics for my product are colleges and universities and companies. These are main areas I have to concentrate because students available in college and in universities and employees are available in companies but it's not possible to enter into company to sell my product. That's why I sell my product by using small stalls
2. My product unmet needs or demands of my product are best advertising and marketing. My product is giving lot of benefits to my customers. Now a days, Internet users has increased and it became part of life. To access this service laptop is required, we can also access Internet through mobile but with comparing to laptop, it is not effective and comfortable
3. In my market, competition is very high, there is lot of importance to the innovation, to beat the competition, every company should come with innovative technology. In online there is continues updates regarding to latest models, so I will use it to express my own business clearly and try to implement new technology to attract customers
4. Swot analysis strengths are new technology, good advertising, weakness is competition, opportunities are business can expand in the foreign countries, threat is to implement new technology, people may not like all new technologies
5. My competitors are Dell, lenova, Samsung, there position in the market is very good and it is so difficult to beat them
6. Main features of my product is battery life, with compare to other it will useful for long periods, low cost and high quality
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