Posted on by Judy

Marketing Plan: Product Identification and SWOT Analysis

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Using the company you selected for your marketing manager internship, you will complete a situation analysis with the goal of identifying a new product/service to develop your marketing plan against. My company selected is TargetCreate a minimum 750 word APA style formatted Word document that includes at least 1 scholarly resource from Ashford’s online library in addition to the course text.The Scholarly, Peer Reviewed, and Other Credible Sources table (Links to an external site.)Links to an external site. offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.Your document should contain paragraphs that cover the following topics:A description of your selected company/brandThe core products/services they offerA brief historyKey current competitorsA SWOT analysisThe product or service line you want to develop a marketing plan for and a SWOT based argument for why it warrants marketing investmentPlease review example paper i uploaded that professor gave us.What Should I Market?The focus of your marketing plan can be a new product/service idea of your own or an existing product/service that you think deserves its own dedicated campaign. Just don’t pick something that you’ve already seen being actively marketed.For example, after completing a SWOT analysis for McDonald’s, one might propose marketing new concepts like a McVeggie burger or an adult happy meal. Further afield, one might propose a whole new chain of pay to visit indoor McPlayground Centers. Or, relative to existing offerings, one might suggest a dedicated marketing campaign for say “burgers at breakfast” or after midnight snacking via the drive thru.Lean about your brand and then let your imagination run wild. It can be a big idea that will appeal to many of their customers or a very targeted effort. You decide. You can always adjust your idea after getting instructor feedback.

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  4. A SWOT analysis, a PESTLE analysis and a Porter’s Five Forces analysis for BIOTECH. You will then discuss the relationship between these assessment tools and the company’s vision statement and mission statement in developing a strategic plan. Lastly, you will provide a convincing argument as to why the new project meets the strategic plan and why Biotech is well positioned for the future in the nutraceuticals and supplements market. Valerie Harper has often been responsible for the development of new products based on what marketing considers high target markets. Valerie has recently been handed the research results on Biotech’s customer demographics. Based on the research, the Marketing Department would like to see Biotech develop products geared toward the baby boomer market. From reviewing the research, Valerie noted that Biotech has done little development of the over 50 customer demographics. The current Biotech line has a few joint supplement products and vitamins targeted toward this age group but nothing more. Valerie researched the trends and found high blood pressure, Type 2 diabetes and Alzheimer’s/dementia were a few of the major health concerns for the over 50 customers. Further research revealed clinically proven effects of hibiscus tea on reducing blood pressure. This finding led Valerie to consider developing a product that was all-natural, good tasting, and competitive with existing teas. The tea would be pre-made and packaged in paper cartons with coated sealant. The plan is to promote the tea as natural products for green accountability. The tea container would include a straw so potential tooth erosion from the acidic tea could be minimized. Valerie also thought about other products that might be appealing to baby boomers. She came across several ideas. The first is a protein bar that was made with coconut, dark chocolate, almonds, and blueberries. The bar would contains all-natural products that would increase the protection of brain function through protective antioxidants, thus protecting against dementia and Alzheimer’s. A second bar would contain natural herbs and would be developed with help from a vendor located in India, which helps lower blood sugar in Type 2 diabetes. Valerie named the test line Boomers Best Bets for the purposes of development. Having come up with samples of the products, costs and overall descriptions of the products, Valerie and the head of marketing were now ready to approach the Strategic Planning Committee with their new product ideas. Valerie put together a team including a person from Marketing, Production, and Quality Control to review the products and decide how to position the products for acceptance by the Strategic Planning Committee.