Biz plan pt. 2

Instructions

4.  Who should be our target market for Ocean and why based on your industry knowledge? Provide some back up for your recommendations that is based on objective criteria. 5.  Give us a plan for conducting a competitor assessment.  What are the areas that we should consider based on your best practices?  Outline the steps so that we can have our internal team develop a competitor assessment.  (Note: save conducting this assessment for the nonprofit project. Only answer what the senior team needs).All of the questions can be answered using the posted videos and Ferrell and Hartline's book. You will need to cite references in an appropriate manner using APA or the Journal of Marketing guidelines. Resources:Question 4 - Target Market - Chapt 1 and 5 in text and Week 2 Video 2Question 5 - Competitor Assessment - Week 2 Video 2

Answer

Question 1:Environmental assessment refers to a plan that covers factors that would affect the promotion of Fisker Ocean. This evaluation is significant especially with the launch of a new product (Zhang and Wu, 2017). The first environmental assessment step would involve the identification of external factors. In this case, major components to look for would include trends, competition, technology, customers, economy, labor supply, and political arena. Trends would entail concentrating on factors that could affect the business positively or negatively. Competition would involve looking at the advantages accrued to the business. The primary question on technology will concern the innovations that would change the performances of the firm in the future. External analysis will encompass exam...
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