Summarize the basic components of a marketing strategy.

Introduction:Examine the four marketing strategies and read about the importance of doing viable marketing research before you begin planning strategy. Based on what you learn, you will begin this Assignment by examining the mission statement, and then move on to address the situation analysis based on where you live. You will first address the background marketing research based on the business type that will be provided by your instructor.

Read the scenario and respond to the checklist items based on the Reading and Learning Activities.

Scenario:Lee is the owner of Lee's [business type selected by your instructor], which is located in the city closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for her business. You must use the industry selected by your instructor.

Checklist:Summarize a marketing strategy for Lee's business, addressing each part.

Part 1Mission

Redefine Lee's mission. Lee's current mission is more of a product-oriented mission statement. For example, "We sell flowers" or "We make pizza."

marketing-oriented mission statement for Lee's business.

Part 2: Situation Analysis

Organization Strengths and Weaknesses:

Describe methods that Lee could use to identify her internal strengths and weaknesses information. For example, some businesses use secret shoppers to identify an organization's strengths and weaknesses. Explain your response.

Environmental Scan:Who are the direct and indirect competitors for Lee's business located in your area?

Using sources like theU. S. Census Bureau(Go to Browse by Topic), describe the demographics affecting Lee's business in your area.

How is technology being utilized in the industry assigned that might have a positive or negative impact on Lee's business?

Identify Lee's competitive advantage against her direct and non-direct competitors in the city nearest to where you live.

Finally, define the termsustainable competitive advantageand explain what advice you would give to Lee in her quest to build a sustainable competitive advantage.

Part 3: Marketing Objectives

Set marketing plan objectives for Lee's business (see page 25 of your text).

Identify at least two S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Relevant to the mission, and Time-bounded).

These first three parts of the paper should be a minimum of 1 pages or total and useand citation style. Your paper should include headings (Part 2: Situation Analysis: Environmental Scan, etc.) an introduction, and a conclusion.