Based on what you’ve learned so far in this course, regarding the 5 Cs, 4Ps, and STP, complete the assessment questions below. Submit the completed template in the Week 10 assignment submission link.
Company/Brand Selected (Fiat Chrysler, IBM,Burger King, or Old Spice):
Who are the current customers/users? Include information related to demographics, psychographics and buying behavior, price sensitivity, customer satisfaction and loyalty.
For example: You could include information such as whether the brand is trying to appeal to a certain social or cultural group and how customers perceive the product/brand.It’s also possible toinclude demographic information related to: age, educational attainment, geographic area, gender, race, employment status and/or home ownership. Additionally, you can discuss psychographic informationwhich includes those attributes that relate to personality, values, attitudes, interests, or lifestyles of people. This area is also related to situational life stages as wellascustomer beliefs, and how customers want to see themselves and be perceived. Some examples of psychographic groups include video gamers, soccer moms, sports fanatics, hipsters, and single moms. Life cycle stages include: retirees, new homeowners, college students and new parents.Be aware that some products/brands may appeal to a wider customer base than others.
What do the customers buy/use?
What changes can the company/brand expect in the future? How can the company/brand better serve its customers?
(For example, you could include information about the current demand for the product/brand, and how it is changing or has changed including possible variations or modifications in the future.You may also determine/discuss if the brand/company can take advantage or has taken advantage of the changes.It’s also possible to considerand talk about whether the product/brand is a less expensive substitute,perhaps, or maybe a product/brand that is easier to use with more features.)
Opportunities (Make sure you label why you call each item an opportunity):
Threats: (Make sure you label why you call each item a threat):
This Section Discusses what the brand is currently.
Identify strengths and weaknesses of the company/brand as it exists today, providing at least 3 strengths and 3 weaknesses. What does the company/brand do well and not so well at this very moment?
List 3 Strengths (Make sure you label why you call each item a Strength):
List 3 Weaknesses: (Make sure you label why you call each item a weakness):
This Section deals with what the company/brand needs to become.
How can the company/brand improve its weaknesses and maintain or grow its strengths? Suggest how the company/brand can improve upon the things it does well and not so well.
Define the current business environment. Include information about political, legal, economic technological and societal factors that may influence sales.
For example: You could perhaps discuss the current trends and conditions for this Industry and for the brand. It’s possible to include information about how the Economy affectsthis industry.This could include changes in income:are people losing jobs, or getting paid more?Changes in spending habits could be considered as well. Other factors such as use of public transportation andshopping online may also be relevant.Whether or not the product is high-tech, or state-of-the-art can be also be included in describing the context.For example, are there other companies producing new versions of the product? Is the market changing quickly? How is technology affecting this product or service? Are there any new laws that may affect the brand?
Political Environment: [Insert response]
Legal: [Insert response]
Economic: [Insert response]
Technological: [Insert response]
Societal/Sociocultural: [Insert response]
Define the business partnerships.Does the company/brand have any current partnerships?What other company/brand may be a good partner for them?
Current Partnerships and the discussion on them: [Insert response]
Proposed Partnerships and the discussion them: [Insert response]
Who are the main competitors? Label and discuss the top three competitors and why you consider them a competitor.
Competitor 1:[Insert response]
Competitor 2:[Insert response]
Competitor 3:[Insert response]
Based upon the analysis you just completed in this worksheet, what are three (3) key recommendations that you could pass along to Management regarding the future direction of the company you selected? Discuss why you have created these strategies and why you think they should be undertaken and work for the business.
1.Recommendation #1 and the Defense of the Recommendation: [Insert response]
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