Reference no: EM131890664
In this assignment, you will create a Situation Analysis for one (1) of the following companies/brands: Fiat Chrysler, IBM, Burger King, or Old Spice.
Each of these four (4) companies (Fiat Chrysler, IBM, Burger King, and Old Spice) has been through numerous changes in recent years. For this assignment, select only one (1) company/brand.
Use the information listed, as well as your own knowledge and research, to complete the provided situation analysis template.
Additional research should include the use of the company's Website, the course textbook, and other online sources.
Remember to only select one (1) brand from the options.
Based on what you've learned so far in this course, regarding the 5 Cs, 4Ps, and STP, complete the assessment questions below.
1. Customers
Who are the current customers/users? Include information related to demographics, psychographics and buying behavior, price sensitivity, customer satisfaction and loyalty.
For example: You could include information such as whether the brand is trying to appeal to a certain social or cultural group and how customers perceive the product/brand.It's also possible toinclude demographic information related to: age, educational attainment, geographic area, gender, race, employment status and/or home ownership. Additionally, you can discuss psychographic informationwhich includes those attributes that relate to personality, values, attitudes, interests, or lifestyles of people. This area is also related to situational life stages as wellascustomer beliefs, and how customers want to see themselves and be perceived. Some examples of psychographic groups include video gamers, soccer moms, sports fanatics, hipsters, and single moms. Life cycle stages include: retirees, new homeowners, college students and new parents.Be aware that some products/brands may appeal to a wider customer base than others.
What do the customers buy/use?
What changes can the company/brand expect in the future? How can the company/brand better serve its customers? Include information about potential opportunities and threats, providing at least 3 opportunities and 3 threats, discussing why you labeled each.
For example, you could include information about the current demand for the product/brand, and how it is changing or has changed including possible variations or modifications in the future.You may also determine/discuss if the brand/company can take advantage or has taken advantage of the changes.It's also possible to considerand talk about whether the product/brand is a less expensive substitute,perhaps, or maybe a product/brand that is easier to use with more features.
Opportunities (Make sure you label why you call each item an opportunity):
Threats: (Make sure you label why you call each item a threat):
2. Company
Identify strengths and weaknesses of the company/brand as it exists today, providing at least 3 strengths and 3 weaknesses. What does the company/brand do well and not so well at this very moment?
Strengths (Make sure you label why you call each item an Strength):
Weakness: (Make sure you label why you call each item a weakness):
How can the company/brand improve its weaknesses and maintain or grow its strengths? Suggest how the company/brand can improve upon the things it does well and not so well.
3. Context
Define the current business environment. Include information about political, legal, economic technological and societal factors that may influence sales.
4. Collaborators
Define the business partnerships.Does the company/brand have any current partnerships?What other company/brand may be a good partner for them?
5. Competitors
Who are the main competitors? Label and discuss the top three competitors and why you consider them a competitor.
6. Recommendations
Based upon the analysis you just completed in this worksheet, what are three (3) key recommendations that you could pass along to Management regarding the future direction of the company you selected? Discuss why you have created these strategies and why you think they should be undertaken and work for the business.
Attachment:- Situation Analysis.rar