Market Research Manager Analysis
Week 10 Assignment – Competition – Market Research Manager Analysis
Note: While representative of possible situations faced by Alikay Naturals, all scenarios in this assignment are fictional.
Overview
As you learned this week, understanding your competition and adjusting your own business accordingly is critical to a business’s success. A large discount retail store like Target competes not only with other discount retail store stores but also with those stores that offer just some of the products Target does, such as grocery stores. Keeping track of all these competitors is quite a task; that’s why large companies have a team of market researchers dedicated to managing that research.
Scenario
This week, assume the role of a Market Research Manager at Target. Market Research Managers are responsible for creating and improving processes for gathering information on various market conditions, competitors, and consumer trends in their companies’ industries. They are typically responsible for managing a team of researchers and reporting their findings to the head of the department. Teams across the company then use these findings to help improve products, guide marketing efforts, and more.
As a Market Research Manager, part of your role is to consistently analyze Target’s position relative to its competitors and report on these findings. As part of this process, you complete a SWOT analysis for each of Target’s main competitors each quarter. The quarter is coming to a close, and your boss has asked for the latest SWOT analysis for Walmart.
Instructions
Write a 2–5 page paper according to the following instructions:
Step 1: Research
Search online and find 1–5 articles that discuss the competition between Target and Walmart. Provide a link for each article. Then:
• Describe the content of the linked article(s) that is relevant to conducting a SWOT analysis, including the use of correct terminology and concepts from the course materials.
Step 2: Strengths
Based on your own experiences shopping at Target and Walmart and the research you conducted:
• Identify 1–2 strengths Target has in comparison to Walmart in terms of competitive advantages. For each strength, explain your rationale by providing evidence and examples from research and personal experience. Remember that for a SWOT analysis, strengths are considered internal factors. .
Step 5: Weaknesses
Based on your own experiences shopping at Target and Walmart and the research you conducted:
• Identify 1–2 weaknesses Target has in comparison to Walmart in terms of competitive advantages. For each weakness, explain your rationale by providing evidence and examples from research and personal experience. Remember that for a SWOT analysis, weaknesses are considered internal factors.
Step 4: Opportunities
Based on your own experiences shopping at Target and Walmart and the research you conducted:
• Identify 1–2 possible opportunities Target has to be more competitive with Walmart. For each opportunity, explain your rationale by providing evidence and examples from research and personal experience. Remember that for a SWOT analysis, opportunities are considered external factors.
Step 5: Threats
Based on your own experiences shopping at Target and Walmart and the research you conducted:
• Identify 1–2 possible threats that might diminish Target’s competitiveness with Walmart. For each threat, explain your rationale by providing evidence and examples from research and personal experience. Remember that for a SWOT analysis, opportunities are considered external factors. .
Step 6: Who Will Come Out Ahead?
Based on your SWOT analysis, do think that Target or Walmart is better positioned over the long term to come out ahead? Why? Make an argument that cites the factors you have identified in the previous steps.
Step 7: Real-World Application
Conduct a SWOT analysis for a company and one of its biggest competitors using the methodology outlined in Steps 1–6.
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 outcome associated with this assignment is:
• Analyze a company’s position relative to a competitor based on a comparison of strengths, weaknesses, opportunities, and threats.
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