USW1_MRKT_3001_Week02_Ayers_L

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Strayer University *

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3001

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Marketing

Date

Feb 20, 2024

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docx

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4

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Week 2 Assignment Template Prepared by: Lisa Ayers Date: 01/21/2024 Walden University
Part 1: Situational Analysis Components of a Situational Analysis A situational analysis involves assessing various factors that impact a business's operations and decision-making. This includes an evaluation of the internal and external environment, examining strengths, weaknesses, opportunities, and threats (SWOT analysis), and understanding the market's unique challenges and opportunities . Appraisal of Organizational Environment for Tasty Snack Foods Tasty Snack Foods is contemplating expanding its gourmet potato chips to a new state or region. In the context of California, the selected region, the situational analysis comprises the following components: Company: Tasty Snack Foods, a small start-up, has successfully tested its gourmet potato chips in California, establishing a foundation for expansion. Customers: California's diverse population offers a broad customer base. However, preferences and consumption patterns may vary across demographic segments. Collaborators: Building partnerships with local retailers, supermarkets, and distributors is crucial for effective market penetration. Competitors: Identifying and analyzing local and national competitors in the snack food industry to understand market dynamics and potential challenges. Climate: Considering California's climate and lifestyle, there may be seasonal fluctuations in snack consumption patterns. Impact of 5 Cs of Marketing on Decision Making for Tasty Snack Foods Company: Tasty Snack Foods must leverage its agility and innovative product offering to stand out in a competitive market. Customers: Understanding diverse consumer preferences is vital for tailoring marketing strategies and product positioning. Collaborators: Developing strong relationships with distributors and retailers ensures efficient product distribution and availability. Competitors: Monitoring competitors helps Tasty Snack Foods differentiate its products and identify potential gaps in the market. Climate: Adapting marketing strategies to seasonal variations ensures consistent consumer engagement. Page 2 of 4
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