Assignment 2: Market Position Analysis
Throughout this course, you will conduct a strategy audit for a selected company. InModule 1, you selected an organization for your course project activities.
In this assignment, you will assess the product portfolio for your selected business unit by analyzing the value proposition, market position, and competitive advantage of its products and services. You will begin your analysis by identifying the business unit and the product(s) and service(s) you will focus on in this paper.
Complete the following:
- Conduct at least three interviews with your selected mid-level or senior managers. Use the interviews to solicit each managerâ€™s understanding of your business unitâ€™s market position, value proposition, and competitive advantage.
- Provide either full transcripts or annotated summaries of the interviews. Include them in the appendix of your analysis.
In your analysis, be sure to cover the following:
- Describe the target customer for the product/service in terms of relevant characteristics that impact the marketing strategy, including location (how it is reached) and buying habits.
- Identify each customer segmentâ€™s specific wants and needs. Explain why they buy your companyâ€™s product or service, or a competing product or service.
- Justify how well your product/service satisfies customer wants and needs. Identify any wants and needs that are not met by your product/service.
- Analyze your productâ€™s position in relation to the competition. Identify 3â€“5 main competitors. Explain how your product differs in terms features, function, quality, price, availability, brand image, etc. Explain why this differentiation is important to your customers.
- Describe the source of competitive advantage for your product. Evaluate sustainability of this source of advantage.
- Assess the long-term sustainability of the source of differentiation and competitive advantage.
- Apply the five â€œPâ€™sâ€ of marketing to your product analysis.
- Provide a concluding paragraph in your report that recapitulates the findings of your interview.
Click here to download a template to use for comparing your product to that of the competition.
Support your responses giving reasons and examples from scholarly resources. Include the matrix in an appendix and add an extra page for your references.
Write a 3-page paper in Word format and attach the matrix as an appendix. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M2_A2.doc. For example, if your name is John Smith, your document will be named SmithJ_M2_A2.doc.