solution

Guidelines:

Successful businesses know how to identify and capture market share in their respective environments. But not all businesses are capable of capitalizing on potential opportunities. For this assignment, you are asked to start conducting research on your company, its customers, and competitors; which will help set the stage for your final project and give you the opportunity for a head start!

A situational analysis can reveal many important details about your chosen business such as:

  • The opinions and experiences of customers and stakeholders
  • A business’s strength and weakness(es)
  • How a company is capitalizing on market trends
  • How it measures up to competitors
  • What’s holding a business back from its desired goal(s)
  • The current strategies in place to overcome the weakness(es)

Details:

Complete the attached file using the outline as a guide to organize your research and analysis. Include a reference page with at least 3-5 references.

Outline:

Company:

An analysis of their vision, strategy, and goals—and if it’s meeting them—is a good start. Examining how the company is performing by reviewing sales, market share, and customer retention provides a useful snapshot that reveals if the business is fulfilling its goals.

Customers:

Thorough research is critical to understanding your customers. Gather information on your customer’s demographics, locations, interests, and challenges. Knowing your customers will help you identify your target market’s needs, preferences, and behaviors to devise the best strategies to reach them.

Competitors:

An analysis of your main competitors will help you determine how your business measures up. Identifying and comparing the competitive advantages of one company to another can help your business adapt to compete more effectively. Who are the main competitors? What are their competencies? A competitor’s market share, as well as its strengths and weaknesses, should be part of your competitor analysis.

 
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