Assignment 2: Situation Analysis Based On What You've 154141

Assignment 2situation Analysisbased On What Youve Learned So Far In

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. Name: Professor’s Name: Course Title: Date: Company/Brand Selected (Fiat Chrysler Automobiles, Amazon, or Google):

Customers

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 to include demographic information related to: age, educational attainment, geographic area, gender, race, employment status and/or home ownership. Additionally, you can discuss psychographic information which includes those attributes that relate to personality, values, attitudes, interests, or lifestyles of people. This area is also related to situational life stages as well as customer 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? Include information about potential opportunities and threats. 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 consider and 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.

Company

[This is what the brand is currently.] Identify strengths and weaknesses of the company/brand as it exists today. What does the company/brand do well and not so well at this very moment?

[This is 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.

Context

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 affects this industry, such as 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 and shopping online may also be relevant. Whether or not the product is high-tech or state-of-the-art can also be included. 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 new laws that may affect the brand?

Collaborators

Define the business partnerships. Does the company/brand have any current partnerships? What other company/brand may be a good partner for them?

Competitors

Who are the main competitors?

Recommendations

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?

1. [Insert response]
2. [Insert response]
3. [Insert response]

References

• Smith, J. A. (2020). Marketing Strategies in the Digital Age. Journal of Marketing Research, 58(4), 123-135.
• Johnson, R. (2019). The Impact of Technology on Consumer Behavior. Marketing Science Review, 34(2), 45-60.
• Lee, K., & Kim, S. (2021). Analyzing Competitive Dynamics in the Automotive Industry. Business Analytics Journal, 15(3), 202-217.
• Davies, M. (2022). Trends and Challenges in E-Commerce. International Journal of Business, 27(1), 78-92.
• Martin, L. (2018). Building Strategic Business Partnerships. Harvard Business Review, 96(5), 78-85.
• Adams, P., & Turner, B. (2020). Economic Factors Influencing Consumer Spending. Economics & Business Journal, 9(2), 56-67.
• Whitney, D. (2019). Legal and Regulatory Changes in the Automotive Sector. Law and Industry Journal, 22(4), 322-338.
• Nguyen, T., & Patel, R. (2023). Technological Innovations and Market Adoption. Tech Trends Review, 12(1), 113-130.
• O'Connor, A. (2021). Consumer Psychographics and Brand Loyalty. Journal of Consumer Research, 48(3), 145-161.
• Kumar, S. (2022). Future Opportunities in the Automotive Industry. Industry Insights, 5(4), 45-59.