Module 02 Course Project - Situation Analysis

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Business Finance

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****USE THE COMPANY IN THE ATTACHMENT PLEASE****

For phase II of your marketing plan, you will develop a Situation Analysis. The Situation Analysis follows the Executive Summary and table of contents in the marketing plan. This will be the first section of the plan. The purpose of the Situation Analysis is for the marketer to assess the situation and the market in which the company competes. The Situation Analysis contains background information on trends, competitors, market needs, target markets, and products.

The Situation Analysis is an in-depth report, as it contains numerous elements. Your Situation Analysis begins with a Market Summary, followed by a SWOT Analysis, Competitive Review, and Product Review.

Complete your Situation Analysis by providing 1-2 paragraphs covering each of the following areas:

  • Target Markets: Provide information on your target market. Who will you be targeting and why? What are the demographics for your target market? What geographic areas are you targeting and why?
  • Market Needs: What are the market needs? What unmet need will your product or service meet? How will your product benefit your customers?
  • Market Trends and Growth: Are there any market trends that you will be capitalizing on? Discuss Online and Internet market trends and how you will leverage them? Has there been any growth in the market? Please provide specifics.
  • SWOT Analysis: List the key product strengths, weaknesses, opportunities, and threats.
  • Competitive Review: Identify key competitors, describe their position in the market, and briefly discuss their strategies.
  • Product Review: Discuss the main features and benefits of your product.

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1 RUNNING HEAD: Executive Summary Executive Summary Rachel Martin Rasmussen College Author Note: This assignment is being submitted on July 8, 2018 for Connie Xecominos, B323/GEB4410 Advanced Principles of Marketing class. RUNNING HEAD: Executive Summary 2 Executive Summary The name of my company is Ulrich Company. This is a seed company which manufactures genetically modified grains with the aim of improving crop yields in the fields and boosting the economy by enhancing food security. This is a family company which was started by my father back in 2001 and left under my management when he passed away in 2013. We have been in operation for about 18 years producing natural grains for farmers and agricultural corporations all over the country. The company has made several accomplishments or achievements such as assisting farmers in accomplishing the highest productive season in history in 2010. This enabled the country to achieve an approximated period of food security spanning for almost ten years. Ulrich Company sells seeds to farmers all over the country during every planting season. Farmers who have a stick of grains from the previous harvesting season don't have to buy new seeds; but the company gets paid, albeit less, by the farmers as part of the contract that they sign each time they purchase seeds in bulk. The types of seeds include maize grains, wheat, rice, and beans. The name of the genetically modified grains being introduced is ‘Organo Grains.' These GMOs are aimed at increasing the yields in the fields to ensure that the country doesn't run the risk of experiencing food insecurity, judging by the rapidly increasing population. The main reason why the agricultural industry needs these GMO grains is that of the increased cases of attacks from pests which destroy crops in the fields. One core characteristic of these grains is that they are modified to withstand attacks from pests and the side effects of pesticides. This would, therefore, ensure that the chances of the crops growing into the latter RUNNING HEAD: Executive Summary 3 stages are higher compared to when the regular seeds are used. For these reasons, there is a serious need for these products in the agricultural industry. The goal of Ulrich Company is to increase the production of maize in the country from 700 million metric tons a year to 1 billion metric tons each year between 2018 and 2020. The production of dry beans has also been set by the management board of the company to increase from 1.3 million metric tons to 5 million within the same period. This would help the company to achieve its main aim of ensuring food security all over the country.
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