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Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers.

Write a Marketing Plan considering the following points (2×5=10 Marks) 1. Introduction, Goals and Objectives To introduce this section you should include the “mission statement” of the business; an idea of what its goals are for customers, clients, employees and the consumer. a. Introduction about the business. b. Business vision and mission c. Business objective. d. Products and services offered 2. Environmental Analysis Conduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers. 3. Target Market Analysis Identify the target market, describing how the company will meet the needs of the consumer better than the competition does. 4. SWOT Analysis Conduct a SWOT analysis for your chosen company based on your research. Strengths: List the strengths of the business approach; Weaknesses: Describe the areas of weakness in the company’s operations; Opportunities: Examine factors that may improve the business’s chances of success; Threats: List the external threats to the business’ success. 5. Marketing Mix (4 P’s ) Analysis Describe each of the 4Ps of your chosen company. Product or Service Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where the product sits in comparison to similar products/services now available. Place Identify the location of the business, why it is located there (strategic, competitive, economic objectives), the expected methods of distribution, and timing objectives. Promotion Describe the type of promotional methods that will be used. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, social media and newspaper ads. Price The prices of the products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.

 

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