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Conduct an analysis of the macro-environment for your industry and product category, and an analysis of the micro-environment for their brand and product supported by secondary research, for example: journal articles and industry reports

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Conduct an analysis of the macro-environment for your industry and product category, and an analysis of the micro-environment for their brand and product supported by secondary research, for example: journal articles and industry reports. 1. Research the product category/industry of your brand. a. Based on your research, review the macroenvironmental forces: demographic, economic, natural, technological, political, cultural, and decide which of these forces are relevant to your brand and product category. b. Write a paragraph on each relevant force, explaining why the force has a significant impact on your brand supporting your opinion with secondary research e.g. journal articles, industry reports. 2. Research the actors in the microenvironment. a. List the company which owns your brand, 2-3 major competitors, suppliers, and marketing intermediaries and publics (if relevant). b. Describe similarities and differences between the competitors’ product line and range and your company’s product line and range. HINT: images and table may be useful for conveying information in this section. Stage 2 Conduct primary research asking 5-10 friends or family for the benefits of the product type, and then to rate the brand and 2-3 competitors against those benefits to produce a positioning map for their product (showing their brand and 2-3 competitors). 1. Choose one product line out of your brand’s product range (e.g. Kraft cheese products). 2. Based on that product only, ask 5-10 friends or family: a. What benefits do they look for in that product type? (e.g. Q. What benefits do you expect from packaged cheese products? A. variety, flavour, convenience.) b. To rate the benefits in terms of importance when choosing a brand between 1 and 4, with 4 being the highest rating (e.g. Rated: variety 2, flavour 4, convenience 2) c. Average your results. 3. Choose 2-3 competitors which also offer that product (e.g. sliced cheese) and ask 5-10 friends or family to rate your company’s product and the competitors’ products against those benefits.