Complete this assignment using the MKT500: Week 4 Assignment Template: Download the template, and save it as Lastname_Firstname_MKT500_Week4_Assignment. Step 2: Follow the inst

MKT500: Week 4 Assignment

SECTION 1: INTRODUCTION

1. Write an introduction to your hypothetical company, describing its location, the product it makes or the service it provides, and introduce the key components for this part of your marketing plan.

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SECTION 2: MISSION STATEMENT AND GOALS

Instructions: Your answers in this section should be 1-2 paragraphs for each prompt. Use complete sentences.

2a. Create a mission statement for your company that includes the following:

· The long-term view of your company.

· Description of your company’s industry, goals, and values.

Below your mission statement, write a rationale explaining the purpose of a mission statement and why you chose this statement for your company.

( Note: do not confuse a mission statement with a tag line, slogan, or positioning statement. Your mission statement should resonate with your customers/consumers as well as with your employees and stakeholders.

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2b. Describe the short-term goals (within one year) and long-term goals (within five years) for your company and appropriate ways to measure them both.   

· Your goals should be realistic, practical, and “ SMART” ( Specific; Measurable; Assignable; Realistic; and Time-based). 

· Consider revenue and profit when creating your goals. The following metrics would likely be considered: increases in market share, new product adoption rates, retention, rate of growth compared to competition and the market, and margin.   

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SECTION 3: COMPETITIVE ANALYSIS

Instructions: Your answers in this section should be 3-4 paragraphs. Use complete sentences in your analysis and do not simply answer the questions. (Note: this section was started in the Week 2 Discussion. Review the feedback and provide a complete analysis here.)

3. Develop a competitive analysis for your hypothetical company that reviews two competitors for your company. Include the following required components in the analysis:

· Explain why you selected these two competitors.

· Describe the product or service offered by each competitor and how it is similar or different to your product or service.

· Describe the reputation of each competitor.

· Analyze the social media presence of each competitor (including platforms, types of content, the number of followers, and their customer reviews including the company response.)

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SECTION 4: SWOT ANALYSIS

Instructions: Your answers in this section should be entered into the table and the analysis should be 2 paragraphs per category (8-9 total). Refer to the SWOT Analysis Sample PDF linked in the assignment Resources section of the Week 4 Assignment page in the course.

4. Develop a SWOT outline examining at least three strengths, weaknesses, opportunities, and threats for your company. (Complete the written portion of the analysis below the table)

Complete your written SWOT analysis below. Rationalize why you chose these SWOT elements, explain the importance of each SWOT element as it relates to marketing your product or service, and explain the impact to the business and/or customer. (Note: refer to the instructions and sample provided, but do not copy any information from the sample. It is provided to model expected depth and scope and should not be used in your response) 

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SECTION 5: SOURCE LIST

Instructions: Use the space below to complete your source list. Be sure to utilize the Strayer Writing Standards. Refer to your assignment instructions above to ensure you have the required number of sources.

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