Marketing homework help.
- Written Component: SWOT Analysis – After reviewing the video develop a SWOT Analysis for your organization. Use the template below.
For Tesla please
- Strengths and Weaknesses are Internal to an organization
- What internal influences can be changed to benefit the overall standing of the organization (financial, optics, etc.)
- Opportunities and Threats are External to an organization
- What external influences can we respond to?
- What external influences are out of our control? (government mandated regulations, the economy)
- Expose which weaknesses may become opportunities.
- Compare your findings with your competitors
- Based on your findings, what gaps in service does your organization have?
- Make recommendations to close these gaps
- By closing the gaps does your organization position itself to gain market share and/or revenue?
- By closing the gaps will this impact your new or redefined product or service? If so, how?
- Share with the class
- Target Market – Finding Your Target Market
- Read: How to Define Your Target Market: https://www.inc.com/guides/2010/06/defining-your-target-market.html
- Read: How to Find Your Target Audience and Crate the Best Content that Connects https://coschedule.com/blog/how-to-find-your-target-audience/
- Video: How to Choose Your Target Market https://www.youtube.com/watch?v=GqxJBus7v8c
- Video: How to Identify my Target Market; Use the Target Market Analysis Tool https://www.youtube.com/watch?v=p2AboI8Pzp4
- Written Component Part III: For your new or redefined product or service define who your target market is and being specific how you will find them?
- If you were to develop an information piece such as a flier or a postcard or other marketing , how would you find out where you target market is?
- If you were to open a high-end watch store, how would you determine where to send the post card about the store grand opening?
- Use the US.Census.Gov website and choose a mid to large city. Using the link: https://www.census.gov/quickfacts/fact/map/shelbycountytennessee,US/IPE120218 Find the median income of that city. Use 75080 zip code
- Could this information be useful in finding a target market? If yes, describe how?
- Using the demographics and mapping functions determine what neighborhoods to send the flier for your particular program or service.
- Take a screen shot to show one or more of your neighborhood/zip code selection(s).