How many different segments are targeting with your product

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Reference no: EM133706654

Homework: Identify Your Company and Competitors

Background

Consider a company you'd like to work for or admire and the family of products your company offers to the marketplace. If you are not part of a company, choose one to work with. As the marketing manager, you will create and present a competitive analysis to your department regarding how competition drives your product development.

In no more than one paragraph, describe the company and what the product offerings are. For example, does your company produce consumer electronics? Perhaps, it is in the clothing industry? Could it be in consumer consumables, e.g., beverages, snack foods, etc?

Understanding the competition and the market environment is pivotal to developing an innovative product. Misunderstanding the market or the competition may lead to a lack of product-market fit and the inability to compete. In this assignment, you will:

A. Identify your company and its products
B. Analyze your competition through SWOT analyses, and
C. Apply that knowledge to develop your company strategy.

Task

Identify two of your competitors and name them.

A. For each competitor, conduct a SWOT analysis, i.e., determine (a) their strengths, (b) weaknesses, (c) opportunities, and (d) threats, using the template included in this week's resources.
B. Discuss your findings.

In your ongoing effort to gather marketing intelligence on your competitors, include a description of (a) the market size, (b) market segments, and (c) any external factors that can impact the market you three companies compete in (e.g., economic, seasons, etc.)

Now consider your own company.

A. How many different segments are you targeting with your present product offerings?
B. Describe each segment's demographics, lifestyles, purchasing power, buying patterns, etc.

Reference no: EM133706654

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