Define the business mission

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Reference no: EM133885938

Assignment:

1. Define the Business Mission - explanation of a mission is provided in your textbook. You may also want to google different businesses mission statements. Make sure that you address the questions - What type of business are we?

2. Goals and objectives - make sure they are measurable and specific

3. Product/Service Description - The product description should be brief - only one to two sentences. You will provide more depth about the actual features later in the plan.

4. Situational Analysis -

First, complete an environmental scan by looking at factors like economy, technology, demographics, political/legal, cultural, competitors. Don't talk about your product just the industry in which you will complete
Complete a SWOT analysis of your product/company. Make sure you provide good detail/depth to your analysis
Segmentation - The bases for segmentation is listed on page 172 exhibit 9.2 of your textbook. This is a great place to identify some good choices for segmentation as well as the chapter material. You should plan to select at least 2 different categories.
Target Market - Use the segmentation bases to help you identify your target market.
Positioning Strategy - What positioning method (value) that your product will offer in the market place.
Product/service Characteristics & Features - Include the product classification (type of product), individual product decisions including product attributes, branding, packaging, labeling and support services.
Pricing - Company objectives and pricing strategy, costs, and pricing strategies
Place - Distribution plan for your product and what retailers will carry the product
Promotion - Develop the IMC plan for your product include information on your advertising, sales promotion, personal selling, public relations, etc.(Make sure your promotional plan ties back to your target market)

Reference no: EM133885938

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