Marketing Project Part 1 ONLY ON Situation Analysis, SWOT, Competitive Advantage, Strategic Focus, Strategic Alternatives and Marketing Goals and ObjectivesThe project is an individual assignment. pl

Project Part 1 – 200 points
Situation Analysis, SWOT, Competitive Advantage, Strategic Focus, Strategic Alternatives and Marketing Goals and Objectives

The project is an individual assignment. Do not share your paper draft with another person.  Please read the following (hypothetical) scenario.

An engineer has contracted with you to prepare a full marketing plan for his latest invention.  An accomplished problem-solver, Mr. Jones formerly worked at NASA and had worked on a few Apollo flights as well as in the Space Shuttle program. He has created a new product that is a solar-powered blanket. It is similar to an electric blanket, but instead of plugging it in, the soft material of the blanket contains elements that convert the sunlight to heat. There are no bulky solar packs, and the blanket is very light, yet warm. Tests show that four hours of exposure to the direct or indirect sunlight yields approximately eight hours of warmth. The product must be exposed to direct or indirect sunlight for at least an hour before turning on. The material is waterproof, though it can be put in a washing machine if desired. If used as a blanket, an on/off switch can be added at no additional cost.

Despite being a top-notched engineer, Mr. Jones has no clue what to do next. He has no experience in marketing and little experience in strategic planning or operating his own business. This marketing and branding stuff is just not his bag. In fact, he didn’t do any research regarding the market potential for solar blankets. He just wanted to see if he could make a solar powered blanket work and enjoyed the intellectual challenge this problem presented. Mr. Jones had first thought to market the product as an 8 x 6 blanket. After talking with a few people, he realized that the material could be repurposed and used to create other types of products too. He is anxious to hear which product opportunity you recommend and what market segment you recommend targeting.

Most of his co-workers find Mr. Jones to be easy to get along with, and quite charismatic for an engineer. He seems to have an innate ability to talk others into doing things they originally didn’t want to do. Even more amazingly, people seem to be happier for having done what Mr. Jones asked after the activity or task is complete. Mr. Jones has a reputation as a fair, highly principled man, who has strong ethical values that guide his personal and work behavior.

While Mr. Jones invested $ 400,000 of his own money in this invention, any future funds would come through loans. Mr. Jones is likely to find this to be an unattractive option, as he is nearing retirement age. As a sole proprietorship, return on investment is one of Mr. Jones key overarching goals. Mr. Jones requires that the full marketing plan (Project Part 2) recoup his $400,000 investment plus 10% within the first 12 months. Further, he expects a $1.00 per unit manufactured royalty.  Mr. Jones also is a strong advocate of eco-friendly products and believes that offering products that enhance sustainability is an important goal for his business. Currently, he doesn’t have a brand name, logo, a website, or any relationships with retailers. Mr. Jones has patented the solar blanket technology, and he has been able to negotiate manufacturing pricing for you. The 8 ft X 6 ft blanket can be manufactured for $4.75 per unit for quantities less than 10,000, $4.25 for quantities of 10,000-50,000, and $3.95 for quantities over 50,000. Repurposing the material into a different product will add 25 cents to the cost of manufacturing/repurposing and 8 ft x 6 ft blanket. Remember though, if the item is smaller in size than 8 ft. X 6 ft, multiple items can be produced from a single blanket sheet. It is your job to determine how many items can be made from each rectangle, and if/how the waste material can be used. In comparing product-market opportunities, it would be wise to estimate demand for the various product concepts you consider as potential opportunities, as well as pricing for the new product.

Part one of the project encompasses a modified Situation Analysis, SWOT analysis, Competitive Advantage discussion and Strategic Focus selection. You will also have the opportunity to develop marketing goals and objectives for extra credit.  Your potential product-market opportunities will stem from a Situation Analysis. Your Situation Analysis will be heavily focused on the PESTEL, customer, and competition rather than on the Internal aspects of the company. Think about possible uses for soft solar blanket-like material and who might use the products.

In Module 3, you’ll learn how to use the MRI+ Mediamark database to research the demographics and (to a certain extent) lifestyles of people who enjoy certain activities, or who purchase certain product categories or brands. You will find this information helpful in completing the customer portion of your paper. As you work through the SWOT analysis, you’ll determine the strengths and weaknesses of the business (using the information from this document), as well as the opportunities and threats (based on the PESTEL). You’ll also analyze this information to determine the capabilities and liabilities facing the brand/business, and you will select the competitive advantage strategy that makes the most sense for this product. Next, you’ll refer back to your SWOT analysis in determining the correct strategic focus.

The strategic planning process will culminate in the development and evaluation of several strategic alternatives which will likely focus on particular product-markets, or possibly product-markets and partnerships or alliances.  

Ultimately, you’ll recommend a strategic marketing alternative that is consistent with the goals of Mr. Jones as well as the competitive advantage and strategic focus of the business. The recommended alternative should capitalize upon the firm’s competitive advantage, and should ideally determine how best to pursue a profitable opportunity.  An extra credit opportunity encourages you to develop marketing goals and objectives that the marketing plan should seek to accomplish. 

Start Now!

Due to the nature of the project, you must commit time to researching the PESTEL environments, potential industries and customers, and potential competitors.

I strongly suggest using the online resources that are available to you via the Noel Memorial Library. The online Business Source Complete, Lexus‐Nexus, and Statista databases may provide the majority of information needed, though searching for trend information using Google can also be productive, as long as the source is reputable.

As this project relies heavily on research, all information sources must be cited using the APA style both within the text and in the reference section.

The paper is limited to 20 pages of content, excluding the title page and reference pages. Penalties will apply to papers longer than 22 pages.

Please review the “Template for Part 1 of the Project” for a thorough outline of the project. Note that this outline contains a list of questions/factors that you should consider when writing your paper, though not everything shown in the template may be relevant to this particular marketing problem.