Marketing Plan

This week’s marketing plan component is a SWOT analysis of your new product or service. You may wish to review the material we covered last week regarding SWOT and you’ll find a detailed example in this week’s module along with instructions for the assignment. SWOT Analysis Example You will find an extensive introduction to SWOT in Module Three and an example below. There are also extensive resources available online, including videos on YouTube. Your SWOT should contain no less than five factors in each of the four categories. If you cannot identify 5-6 legitimate factors for each category you may not have given your product or service adequate consideration and thought. You will also create a SWOT action plan. SWOT Action plan The concept behind a SWOT Action Plan is that, as business managers, we like to get things done! Our job is to fix problems and capitalize on opportunities. SWOT is a very useful tool for analyzing our business and the business environment (see Module 2 for more on this). However, the best analysis is useless without action to apply the information. The SWOT action plan does just that. It apples the information you uncovered in your analysis. You will select ONE item from each of the four categories and write a very brief action planned based on the following: Strength: What will you do to take advantage of this strength? How will you make the most of it? Weakness: What will you do to minimize the negative impact on your business? Opportunity: Much like a strength, how will you capitalize on this opportunity? How can you use it to generate revenue, build your brand, or improve your competitive position? Threat: How will you avoid this threat or minimize its impact on the business? You will find an example of what is expected for your Action Plan below. SWOT Example NOTE: You have the option to vary your layout, format, use of color, and other stylistic devices. This is ONLY an example, however, the use of a chart of some type is required. SWOT ANALYSIS: LEO TREK Leo Trek is a student-owned and operated business located near Saint Leo University. The firm provides small van transportation on Thursday through Sunday to high demand locations in Hillsborough and Pasco counties, such as Wiregrass, The Grove Shopping Center, downtown Dade City, and Ybor City. The firm aims to reduce student driving, thus providing a safer campus, while generating revenue and creating student employment.

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