MKT501 Case study Assignment Fall 2020
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MKT501 Case study Assignment Fall 2020
Module 2 – Case
PROMOTION MANAGEMENT & SWOT ANALYSIS
Assignment Overview
The Marketing Plan: GAP Analysis
Every business should determine its own standards for success when evaluating the attractiveness of a market, since every industry has its unique circumstances. Criteria that influence Segment Attractiveness include:
- Market Growth (Market Size, Growth Rate, Market Potential)
- Competitive Intensity (Number of Companies, Ease of Entry, Substitutes)
- Market Access (Customer Familiarity, Channel Access, Company Fit)
While benchmarking based on criteria is beneficial in capturing the qualitative aspects of a market situation, the profit potential must also be assessed for all segments deemed attractive based on their market attractiveness indexes.
Segmentation Application
- Provide a brief description of your chosen product/service. (Local restaurant is the chosen business)
- Analyze customer needs for the target product
- Discuss Segmentation Strategies based on two real competitors’ market position
- Devise a niche marketing strategy that would be appropriate for your company’s product.
Gap Analysis, Benchmarking & Competitive Advantage
- Implement a Gap Analysis of Two Competitors. Discuss how the findings would be used.
- Develop Competitor and Competitive Benchmarking.
- Competitor benchmarking involves identifying a business’s main competitors and then comparing itself against them in key performance areas. Competitive benchmarking involves going outside a business’s market or industry to study a company that excels in an area where the business is deficient.
- Devise Strategies to Achieve Competitive Advantage for the Company
MKT501 Case study Assignment Fall 2020
References:
Gap Analysis
https://www.consumerpsychologist.com/dist_Gap_Analysis.html
How to Write a Gap Analysis Report
http://smallbusiness.chron.com/write-gap-analysis-report-55720.html
Customer Segmentation Strategies
http://smallbusiness.chron.com/customer-segmentation-strategies-4007.html
Market Segmentation
https://www.decisionanalyst.com/analytics/segmentationmodels/
The Strategy of Market Segmentation
http://www.opentextbooks.org.hk/ditatopic/40030
MKT501 Case study Assignment Fall 2020
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