Discuss about importance of doing viable marketing research

Assignment Help Marketing Management

Reference no: EM132045078

Question: You will only begin this Assignment in this unit, but no paper is due in this unit.

You examined the four marketing strategies and read about the importance of doing viable marketing research before you begin planning strategy. Based on what you learned, you will begin this assignment by examining the mission statement and then move on to address the situation analysis based on where you live. You first address the background marketing research based on the business type that will be provided by your instructor.

You will begin your research, but no paper is due in this unit.

In anticipation of submitting your Assignment paper for Unit 2, you will start working on steps 1-3 of your Assignment. You will complete steps 4-6 in Unit 2 and submit Steps 1-6 as one document in Unit 2.

Read the scenario and respond to the checklist items based on the Reading and Learning Activities.

Scenario: Lee is the owner of Lee's (business type selected by your instructor), which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business.

Checklist: Summarize a marketing strategy for Lee's addressing each step.

Step 1: Mission

Redefine Lee's Mission. Lee's current mission is more of a product oriented mission statement. For example, "We sell flowers" or "We make pizza."

• Using the online library, write a brief summary about what constitutes a strong market-oriented mission statement.

• Rewrite a marketing oriented mission statement for Lee's business.

Step 2: Situation Analysis

1. Describe methods that Lee could use to identify her internal strengths and weaknesses information. Explain your response.

2. Using the online library located in the Academic Tools area, conduct an environmental scan and identify opportunities and threats to the business. Examples could include competitive, technological, economical, sociocultural, political, and legal forces.

• After completing your environmental scan or situation analysis, identify Lee's competitive advantage against her direct and non-direct competitors in the city nearest to where you live. Ex. cost, product, or niche

• Explain what advice would you give to Lee in her quest to build a sustainable competitive advantage?

Step 3: Marketing Objectives

Set Marketing Plan Objectives for Lee's.

• Identify at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant and Time-bounded).

These first three parts of the paper should be a minimum of 2 pages and use APA format and citation style.

Reference no: EM132045078

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