Reference no: EM133761890
Homework: Marketing Manager for New Product
Directions:
In this homework, you need to assume yourself as a marketing manager who will bring your new product (or service), not a business, to the target market, Hayward. To complete this homework correctly, follow the instructions below. You will lose points if you fail to follow the instructions.
A. Read the lecture slides (or watch the lecture videos) and textbook carefully.
B. Select one simple product (or service), not a business, for the target market, Hayward, CA. The product we are marketing is a device that installs in your car where when your car is broken into or window shatter you receive an alert via an app or text that your car is being broken into. Hayward California has a lot of break ins so this would be useful.
C. Conduct a situation analysis using what you learned from the lecture slide, lecture video, and textbook. Provide details about the Hayward market to which you will bring your product (or service). The details may include (but are not limited to): Demographics, market competition, market situation, related policies and regulations, etc. You may also use the frameworks such as 3Cs (customers, competitors, company) or 5Cs (3Cs + Context and Collaborators) for situation analysis.
D. Then, find and provide what you believe to be the three to five most significant elements of each SWOT dimension for your product, along with brief supporting reasons why.
QUESTIONS:
1. Situation Analysis:
2. SWOT Analysis (better if you use bullet points; must include supporting reasons)
Strength (Internal, Positive factors):
Weakness (Internal, Negative factors):
Opportunity (External, Positive factors):
Threat (External, Negative factors):