Question: Identify the trends and changes that are occurring in the external environment that impact your chosen product's marketing plan. Specifically, consider trends and changes in
- Identify the trends and changes that are occurring in the external environment that impact your chosen product's marketing plan.
- Specifically, consider trends and changes in the areas of Technology, Regulatory, Economics, Environmental, Demographics, and Socio-Cultural happenings in this marketplace.
- Research and analyze at least 3 factors. Explain for each of the factors you have selected the positive or negative implications (minimum of two for each) the external environmental factor could have on your chosen product's marketing plan. Ensure that you explain why?
- Provide recommendations (action plans) as to what you plan to do to alter your current marketing plan to address this implication, again based on the factors you selected. Ie How may these trends impact your Product, Price, Promotion or Place strategy...and Why?
Review the competitive environment for your chosen product.
- Specifically, provide details on 3 direct competitors, focusing on comparing the 4 "P"s for your own product versus the competitor's product.
- Evaluate and specify your product's 'Unique Selling Difference' or "Value" what makes it different and what value does it provide the consumer?
- Provide rationale for your evaluation.
- Include a SWOT (strengths, weaknesses, opportunities, threats) analysis using a bullet point, table format.
- This analysis should be from the perspective of your product
- Finally, summarize your findings and indicate possible implications for the marketing of this product.
- From a Global Citizenship and Equity(GC&E) perspective:
- Identify(in your own words) how your product's firm has supported environmentalism/sustainability, and
- Has supported social responsibility at the national or global level. Please provide supporting documentation
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