SWOT Analysis a. Identify the applicable SWOT elements (Strengths, Weaknesses, Opportunities, Threats) for marketing your product in
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SWOT Analysis a. Identify the applicable SWOT elements (Strengths, Weaknesses, Opportunities, Threats) for marketing your product in the country, derived from what you investigated in the previous 3 assignments. Remember that 'S' and 'W' are internal, positive/negative elements that are controllable (e.g., location, product characteristics, quality, service, reputation, etc.). On the other hand, 'O' and 'T' are external, non-controllable factors/conditions of the environment with potential positive/negative impact (e.g., economic, demographic, technological, sociocultural, legal and regulatory, competitive, etc.).
- Target market(s) selection a. Specify the characteristics of the segment of consumers to target, describing the typical customer profile (also called buyer persona) that you expect to buy your product. If more than one segment is targeted, justify the decision and describe the profiles of each segment. Provide the target market descriptions according one or more of the following segmentation bases/variables relevant to your product: i. Population (age, gender, marital status, etc.), language, climate, city/region. ii. Lifestyles: consumer types (education, employment, income, urban/rural), values (life priorities, family, work-life balance), behavior (eating habits, leisure, shopping, technology use, etc.). iii. Income and expenditure on different product categories. iv. Household characteristics. b. Estimate the approximate number of consumers for each targeted market segment. c. Briefly describe desired product's positioning (how you want your product to be perceived by your target market(s) in comparison to the competition).
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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