Hypothetical Business

Overview

For this assignment, you will document your hypothetical company’s background information and mission statement, your company’s short-term and long-term goals, an environmental analysis, and a SWOT analysis.

Note: You should make all assumptions needed for the completion of this assignment.

Instructions

Create the first part of your marketing plan in 8–12 pages:

• Write an introduction to your company. Describe your hypothetical company, its location, the product it makes or the service it provides, and introduce the contents of your marketing plan.
• Develop your company’s mission statement.
• Decide the main goals that you would like to achieve within the next year (short term) and the main goals that you would like to achieve within the next 5 years (long term). Determine the most appropriate ways to measure both short- and long-term goals. 
  • Note: Consider the following metrics: tracking downloads of website content; website visitors; increases in market share; customer value; new product or service adoption rates; retention; rate of growth compared to competition; and the market, margin, and customer engagement.
• Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
• Develop both a SWOT analysis and needs analysis for your product or service. Each analysis should examine three strengths, weaknesses, opportunities, and threats for your company.
• Use at least three academic resources as quantitative marketing research to determine the feasibility of your product or service. These resources should be industry specific and relate to your chosen product or service.
• Use the Part A Marketing Plan Template [DOCX] to complete the assignment.
• The Part A Mission Statement and SWOT Analysis Sample [PDF] containing examples has been provided for your reference.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcomes associated with this assignment are:

• Evaluate a company’s goals, environment, needs, strengths, and weaknesses based on its respective market.