Corporate Give a brief overview of the company you are including mission statement. List their core product categories
SBU If it is a division of a big company e.g. Tropicana is owed by Pepsi give an overview as above and give the key objectives of the SBU.
Review the company’s current marketing performance in Canada in the category of your product/service including their market share. (Focus on the Canadian market including a product review that shows sales, share. E.g. If doing juice talk about Tropicana juices performance in the market
Current Company Product Analysis (only for the category / brand group that your new product will fall within) – Describe the current company brand and its products and how they are doing. Briefly describe and summarize the current marketing activities. (Current advertising, promotion, web, newest products etc.) Put the detail in your appendix and summarize key info in the report. In the Appendix you can put product & promo info from the web – just source it
Market analysis – describe the market for the category you are competing within – estimate Market size and growth and explain the rationale.
Environmental Analysis - Describe any social, cultural, or other external environmental issues (legal, technological etc) affecting the industry in Canada and any information that will lead to your decision for your new product. ( This should be a pretty big piece as a lot comes out of this )
Customer environment analysis for the category – Describe the key customer segments based on benefits sought. Who buys the products and what do they do with the products. Who might be potential customers? This should include current and potential target markets profiles. Use a chart format like we did in segmentation to highlight key differences – now you may wish to identify which segments use which of your category's current products or competitor product.
Competitive analysis – Identify the key competitors in the category you are in (or the category you plan to enter). Briefly describe their brand positioning & their market shares. If it is a really new idea think about potential competitors. Assess the competitor’s product offerings in the category of study including their market positions and strategies on product quality, promotion, pricing and distribution. use a chart to keep it simple) Only include relevant data. If you have lots of info put it into the Appendix.
SWOT Analysis – Based on the information gleaned from the situation analysis, summarize (even in chart format) the most important elements uncovered that will affect the business – relevant items only. Use the handout from week 3 to assist you.
If an item is listed in your SWOT it first must have been identified and discussed in your Situation analysis
Your product idea should come out of your SWOT where you match a market opportunity to a strength or yu convert a weakness into a strength or you counteract a threat.
Describe the gap you have found in the market (unmet customer needs) and, briefly explain your new product and the rationale for it. This should flow from your SWOT analysis and be based on information you uncovered in your situation analysis.