USW1_MRKT_3001_Week02_Ayers_L

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Strayer University *

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3001

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Marketing

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Feb 20, 2024

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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

Part 2: SWOT Analysis Strengths  Unique Gourmet Offering  Successful Test in California  Agile and Innovative Weaknesses  Limited Brand Recognition  Small Market Share  Distribution Challenges Opportunities  Untapped Markets in New Region  Growing Demand for Gourmet Snacks  Collaborative Partnerships Threats  Intense Competition  Shifting Consumer Preferences  Economic Uncertainties Marketing Strategies for Tasty Snack Foods Based on SWOT Findings Considering the SWOT analysis, Tasty Snack Foods should:  Leverage strengths in marketing campaigns.  Address weaknesses through targeted strategies.  Exploit opportunities in untapped markets.  Mitigate threats by staying adaptable and innovative. Page 3 of 4

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References clarke, sara (2020) California is the most diverse state in the U.S. - U.S. news & world report . Available at: https://www.usnews.com/news/best-states/articles/2020-09-10/california-is- the-most-diverse-state-in-the-us (Accessed: 20 January 2024). Page 4 of 4

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