MKT 431 Week 2 Situation Analysis

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MKT 431 Week 2 Situation Analysis
MKT 431 Week 2 Situation Analysis
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MKT 431 Week 2 Situation Analysis

This assignment has two major parts. The first part is a Situation Analysis in which you will examine the competitors and customers in your marketplace and discover the challenges and opportunities that exist in your target market. The second part involves the creation of your Value Proposition.

Assignment Steps

Part I

Conduct a Situation Analysis for your selected business opportunity. Include the following details in your analysis:

  • Analyze competitors by using the Competitive Matrix and applying appropriate variables for your business.

  • Analyze the customers that you wish to attract including current and future customers.

  • Compare the specific attributes of your product with those of competitors in your market niche.

  • Describe aspects of your product/service that will attract your targeted customers.

  • Evaluate similarities and differences between your target market and that of your competitors.

Part II

The results of your Situation Analysis provide the basis for a distinct Value Proposition for your product/service that can help to generate brand and name identity.

Write your Value Proposition as a 750- to 1,050-word paper that includes the following:

  • Define your Value Proposition.

  • Explain the Value Proposition for your product or service.

  • Discuss the major elements necessary for building a brand.

  • Identify 5 action steps that you will take to build the brand for your company and/or product.

Click the Assignment Files tab to submit your assignment.

Note: Please keep your graded assignment for your future small business course, MGT/465. You will use portions of this for your Small Business Plan.