Reference no: EM131131959
For phase II of your marketing plan, you will develop a Situation Analysis. The Situation Analysis follows the Executive Summary and table of contents in the marketing plan. This will be the first section of the plan. The purpose of the Situation Analysis is for the marketer to assess the situation and the market in which the company competes. The Situation Analysis contains background information on trends, competitors, market needs, target markets, and products.
The Situation Analysis is an in-depth report, as it contains numerous elements. Your Situation Analysis begins with a Market Summary, followed by a SWOT Analysis, Competitive Review, and Product Review.
Complete your Situation Analysis by providing 1-2 paragraphs covering each of the following areas:
Target Markets: Provide information on your target market. Who will you be targeting and why? What are the demographics for your target market? What geographic areas are you targeting and why?
Market Needs: What are the market needs? What unmet need will your product or service meet? How will your product benefit your customers?
Market Trends and Growth: Are there any market trends that you will be capitalizing on? Discuss Online and Internet market trends and how you will leverage them? Has there been any growth in the market? Please provide specifics.
SWOT Analysis: List the key product strengths, weaknesses, opportunities, and threats.
Competitive Review: Identify key competitors, describe their position in the market, and briefly discuss their strategies.
Product Review: Discuss the main features and benefits of your product.
Case
The proposed company will operate in the delivery business. The business arose out of a need to have very quick delivery of special items needed in construction and engineering projects. The major delivery companies take very long to deliver certain items and this can derail the timeline of the project. The founders of the business have extensive experience in the delivery business.
The company will specialize in special speedy delivery contracts for engineering and construction projects throughout the world. For instance if a nation is constructing a dam and needs a crane from another country, our company comes in and delivers the crane within the shortest time possible. The company will only focus on delivery of large goods essential to construction and engineering projects.
The company's core delivery service has the name of ‘superfast delivery' the name underscores our mission to provide fast and quality delivery services. There is a need for this product because most big delivery firms focus on delivering consumer goods and neglect the market for specialized engineering equipment delivery.
The goal for our company is to be the largest provider of delivery services to large construction and engineering projects throughout the world. The company has a vision of growing revenue and market share by ten percent every year; consistent good quality service will help us achieve this goal.
The company aims to diversify its product offering from delivering items to assembly and preparation of large engineering machines in five years. The company also aims to provide employment to one thousand people in six years. The company also targets to achieve revenues of over 20 million dollars in eight years.