Situational Analysis Essay Instructions A Situational Analysis (SWOT) is designed to gather information that identifies both internal and external factors that are pertinent to the firm and its ability to succeed in the future. Many academicians and businessmen are convinced all new product ideas, new market segments and product expansions are derived from the factors that shift demand (aka the external factors of the firm). The internal factors (SW) are strengths and weaknesses of the firm and the external factors (OT) are the opportunities/threats facing a firm. In marketing and advertising, understanding the external factors are very important. Here is a partial list of the external factors that shift demand: Demand Curve Shifters Consumer tastes and preferences Demographic Economic Natural Technological Political/Legal Social/Cultural Competitors (what they are doing and planning to do) Substitute Products For this essay, the Situational Analysis is to be used as a planning step to help you better understand and identify the factors which affect your thinking and ultimately the design of the “big idea” for your advertisement/promotion for your overall Promotions Project. Successful completion of this step requires you to complete a fairly detailed research agenda of your product, competitors, demand shifters and the industry your firm operates within. In a minimum of 5 pages, address these factors of the Situational Analysis. You must use APA level headings for each item in the Situational Analysis; beginning with Situational Analysis, a Level One heading. Components of the Situational Analysis: Product description (1 paragraph) Company description (1–2 paragraphs) Stage of the Product Life Cycle (PLC) the product is in (2 paragraph explanation) Sales history and market share (1–2 paragraphs) Description of the consumer purchase process (1–2 paragraphs) External demand factors, see list above and make sure you address EACH factor, if a factor isn’t pertninet to your product; list the factor and a short explanation. Remember to let your research efforts guide the writing of this section. NOTE: This assignment must conform to the rigors expected of a grad school student and the use of proper APA guidelines with the persistent link present in your references page(s) and your research must be properly annotated throughout the document. In addition, you must exhibit a competent level of research and writing that demonstrates your understanding of this assignment and the ability to analyze/discuss the topics of this assignment, not just a simple regurgitation and quotation of the terms/definitions/thoughts in the textbook and your research. The MBA is a practitioner’s degree. The degree signifies that you can think, analyze, and solve problems; and then communicate solutions to business executives effectively and efficiently. This assignment is designed to sharpen those skills, please dedicate the requisite time and efforts. Click the link below to read how to make/use a persistent link in your essay. http://www.liberty.edu/index.cfm?PID=8230 You will submit this assignment through SafeAssign, a program that checks for plagiarism. You will have three opportunities to turn in the essay in draft form. Once your draft comports with SafeAssign you will then have one opportunity to turn in your final draft. Be sure you turn in the paper you want graded in the final draft SafeAssign link. Promotions ProjectOverview The BUSI612 Promotions Project is an individual project designed for the Liberty University MBA student to synthesize Promotions theory which is presented in our textbook/readings. For this project, you will design an integrated promotions/advertising plan for a product of your choosing. Each part of the promotions project will be turned in weekly and will build upon the previous parts. This document is only an overview of all of the parts of the PromotionsProject; you will find more detailed instructions for each part in the Assignment Instructions folder. NOTE: If you desire a grade above the minimum (B) in grad school; then you must submit excellent work and content. That clearly demonstrates your knowledge, application and analysis/discussion of Promotions theory associated with this assignment. Module/Week 1: Product Confirmation You will choose a product to base the Promotions Project on.The product can be a new or an existing product, the only caveat is that you must choose a product that no other student has chosen to work on. Choosing a product will occur within the first week of class, in a Discussion Board (DB) forum for all students to see what products have been chosen. If you have any specific questions about products, please contact your professor before the first Friday in the course. You must complete your Product Confirmation by 11:59 p.m. (ET) on Friday of Module/Week 1. Integrated Marketing Communications (IMC) Essay In this essay you must first research and understand each of the IMC Mixcomponents, after fully understanding each component; choose four of the most relevant components as they relate to your product/service. For each of your four components your essay must address each of these components for critically thinking and writing: theory>research>analysis/discussion You must use APA level headings throughout your essay; beginning with IMC Mix Essay, which is a Level One heading. Here is a sample of the APA level headings for addressing one of four chosen components for this week’s essay: Advertising Theory Advertising Research Advertising Analysis Again, this essay must contain at a minimum of 4 pages of text that address four of the six IMC Mix components. You must complete your IMC Mix Essay by 11:59 p.m. (ET) on Friday of Module/Week 1. Module/Week 2: Situational Analysis Essay You will write an essay that will be used as a planning step for the rest of the project. The essay will be written about your chosen product so that you can design your “big idea” for your advertisement/promotion based upon this week’s research agenda, the situational analysis. Research is key to successfully completing this essay; let your research findings write this section. You must complete the Situational Analysis Essay by 11:59 p.m. (ET) on Friday of Module/Week 2. Module/Week 3: Target Marketing Essay Through this essay you will discuss the market characteristics and the target market of the product you have chosen. Before embarking on this week’s research agenda, make sure you fully understanding the Marketing/Promotions/Advertising theory of “target marketing” and “market segmentation.” Again, research is key to successfully completing this essay; let your research findings write this section. You must complete the Target Marketing Essay by 11:59 p.m. (ET) on Friday of Module/Week 3. Module/Week 4: Competitive Insights Essay This essay will discuss the consumer behavior of the customers that currently purchase the product you have chosen to research. Again, a thorough understanding of the Consumer Behavior (CB) theory is a prerequisite for completing this week’s research agenda and for writing a thorough essay that demonstrates and explicates your understanding of CB theory as it relates to promoting/advertising your product. You must complete the Competitive Insights Essay by 11:59 p.m. (ET) on Friday of Module/Week 4. Module/Week 5: Creative Development Questionnaire Now you will begin to think about your advertisement/promotion for the product you have chosen to research. This will be accomplished through answering questions provided on a questionnaire. You must complete the Creative Development Questionnaire by 11:59 p.m. (ET) on Friday of Module/Week 5. Module/Week 6: Big Idea and Media PowerPoint You will create a PowerPoint presentation that visually reflects the big idea(the “big idea” is a bold, creative initiative that builds on strategy and corroborating research that joins the product benefits/features with consumer demand and consumer’s taste and preferences (documented) in a fresh and involving way, brings the subject to life, and makes the reader or the audience stop, look, and listen) you have for your product. NOTE: Incorporating the big idea into a powerful advertisement/promotion must include components derived from your previous research endeavors, in particular components that address the factors related to shifts in the external environment (demand shifters). When brainstorming ideas for your advertisement/promotions go back to research and ask yourself; how can I use this research/information in an effective ad/promotion? You must complete the Big Idea and Media PowerPoint by 11:59 p.m. (ET) on Friday of Module/Week 6. Module/Week 7: Big Idea and Media PowerPoint Text You will continue to work on the PowerPoint presentation by adding text to the slides from Module/Week 6. This text will show an understanding of the process of “pitching” your ad/promotion to the marketing executives of the firm that makes your product. In particular, the text should address all of the factors derived from your past research endeavors that are incorporated into you ad/promotion. You must complete the Big Idea and Media PowerPoint Text by 11:59 p.m. (ET) on Friday of Module/Week 7.

    Integrated Bargaining Despatch

    Introduction

        The tractate furnishs an overview ill-conditioned the momentous operation strategies and despatch adventes to be economized in the bargaining regularity to fix construction’s luck in the bargaining regularity. Perfect terminals amid the unshaken are expected to divulge as undivided entity which is solution to discernment stakeholder deficiencys as courteous as adhering to consumer expectations. Insistent loopholes conquer too be diminishing through the representation of unscant techniques and strategic projectning that fix exoteric challenges accept been addressed antecedently adversely impacting towards the unshaken. Concerning the growing deficiency to economize technological progenys in closely perfect sights of ethnical conduct, it is momentous to unravel an integrated Bargaining despatch project to fix that perfect regularityes accept been assessed antecedently and following the entity delivered to consumers (Naeem et al., 2013). The integration of the despatch channels is focused towards achieving a compelling, compatible and plain paint encircling the stigma and the unshaken.

    The Progeny

        ACR.Inc is a multinational construction peculiarizing in the genesis of technology progenys including televisions, PCs, Mobile Phones, Car technologies, observees, remotes controllers and common technological shows. The unshaken has freshly fixed to bargain the upstartlightly unraveled progeny, Oculus Rift, which is a implicit verity gaming show. The solution matchless indication of the progeny is that it promoteers an test where the representationr feels to be separate of the video diversion. The strategic bargaining of the progeny should be profitpowerful respecting the expected consumers past the bargain has unceasingly been changing. The six constituents amid the Integrated Bargaining Despatch (IMC) should be blended to empurpose the power to renew, remind, convince and instruct the understandings and postures of the consumers towards the representation of Oculus Rift.

    IMC Mix

    Advertising

    Advertising is dubious to ensuring the invention of progeny awareness and period of leads. Advertising intimations conquer be large through strategic hurry releases to renewlight advertising. The advertising regularity requires an integrated advent to fix that perfect apt bargaining instructation has been composed to fashion indubitpowerful that perfect staff membersarefamiliarized with the upstartlightlight progeny (Mihaela, 2015). The requires of advertising conquer be profitpowerful to conunshaken causative channeling on such platforms as radio stations, television, upstartlightspaper, and repository. The advertising should renewlight the despatch intimation thus emends the posture of the unplain clients towards the progeny benefit.

    The scheme regularity sieges into importance harmony to insure that operative visuals, photographs, and animations accept been applied perfect through the advertising regularity (Mehling,2007). The require of hostilitiess conquer too be regulated through reusing visual symbolical and specifying flag elements aill-conditioned perfect instrument. The advisements should be profitpowerful in a habit that motivates landscapeive clients to alienation the progeny as courteous as increases separate beliefs towards progeny faithfulness through enhancing stigma awareness.

    Sales Encouragement

    Sales encouragements conquer be dundivided through the representation of excitation, faithfulness clubs, familiarity coupons, peculiar bundle promoteers, apportionance coupons and assemblage coupons. Uncertain computing components accept been integrated into the Oculus Rift to fix that the representationr reachs an borrowed prize and rather not attributpowerful attributpowerful attributpowerful proportioned the alienationd progeny. The gaming regularity can perfectow the representationr to input instructions control the representation of goals in some instances amid the gaming regularity (Mehling,2007). The vocal input talent has too been customized to perfectow easy tally heedless of the representationr’s language. Through the integration of twain offline and online efforts such as coupons, sales encouragements conquer be repaird. The sales encouragement should be schemeed in such a habit that they boost perfect despatch efforts and ensuring cohesive intimations delivery.

    Separate Hawking

    Markets and sales representatives are expected to hawk some of the progeny straightly to the consumers. This is momentous as it matures meliorate customer relationships. Rewards accept been determined conspicuousively aimed towards motivating the sales staff. The bigger the enumerate of progenys sold by a sole team, the greater the aggregate of damages supposing. The sales team should be intensively reasonful in a habit that they conceive the solution contents that consumers obpromote control in merit of the Oculus Rift. Any instructation composed during the sales regularity should be divulged purpose to the conclusion fashionrs to unravel meliorate after purchasing phases (Naeem et al., 2013). The landscapeing regularity amid the separate hawking is expected to empower the construction in decision the unplain and straight continuity. The pristine continuity is favored by the society of a matchless pristine continuity with the landscapeive client.

    National Relations

    ACR. Inc has been powerful to adhere-to a powerfully beautiful paint floating most of its consumers. Oculus Rift bargaining regularity conquer thus siege utility of this with importance entitys made towards retaining and creating relationships which are momentous to the unshaken and its customers (Mihaela, 2015). The national relations function has been edificed in such a habit that it fixs advantageous paint and a probpowerful discomsituation has been adhere-toed amid the unshaken. Most of the men-folks utilizing Oculus rift are most slight to be aidful on collective instrument platforms (Mihart, 2012). Such platforms as Facebook, Twitter, LinkedIn, Instagram, WhatsApp, and Telegram are ascititious to erection powerful-bodied and meliorate relationships and in demonstrating the responsiveness. The national relations goals are driven towards increasing resistance and understanding. This conquer too fix that landscapeive clients accept been troddened to the unshaken website, sales encouragements accept been protected and dispersed of peculiar deals and apportionances fabricationd.

    Trodden & Online Bargaining

    Trodden bargaining, calculated to strain purpose representationrs straightly, could be repaird through the representation of encouragemental lore, brochures, catalogs, extract intimations, and emails. Interactive bargaining promoteers a two-habit despatch thus perfectowing instructation to run shapeless the representationrs thus sanction satisfied variation on a insistent-span plea (Mudzanani, 2015). Trodden mail conquer be intensive specially on the clients who accept economized implicit verity gaming progenys or courteous-balanced other services such as gaming software. The mailing conquer, eventually, be refractory of the separate proceeds rolls and geographical locations as the progeny are easy to men-folks from contrariant areas worldwide. This too sieges into importance that the mailing regularity conquer accept scant implications towards the bargaining budget. Emails promoteer past elaborate instructation to landscape clients besubsided the representation of links to website and brochures. Follow-up arrangement to the advertising hostilities is renewd by the representation of trodden emails as customers can flexibly furnish feedpurpose and insights into the unshaken.

    Online bargaining is expected to indicate a necessary role concerning the fresh trends of the 21st epoch. Most men-folks, specially those outrageous towards implicit gaming, conquer tpurpose to obpromote control upstartlightlight progenys online (Mudzanani, 2015). Beautiful ads that furnish a plain paint of the associated benefits and aidful promoteers conquer be engenderd to fix that unplain representationrs reach an instigate to economize the progeny consequently actively entity ardent in its representation. The representation of online technologies should be profitpowerful to mature customer certificates postings, progeny announcements, continuity despatchs amid other sites and enhancing customer despatchs.

    References

    Mehling, M. (2007). Integrated bargaining despatchs temporization: An testimony of Harrah’s Penetratetainment, Inc.

    Mihaela, O. O. E. (2015). The Bias of The Integrated Bargaining Despatch on The Consumer Buying Behavior. Procedia Economics and Finance, 23, 1446-1450.

    Mihart, C. (2012). Impact of integrated bargaining despatch on consumer behavior: proceeds on consumer conclusion–making regularity. International Vivacity of Bargaining Studies, 4(2), 121.

    Mudzanani, T. (2015). A re-establishment and decomcomsituation of the role of integrated bargaining despatch intimation typology in the unravelment of despatch strategies. African Vivacity of Bargaining Conduct, 7(8), 90-97.

    Naeem, B., Bilal, M., & Naz, U. (2013). Integrated bargaining despatch: a re-establishment tractate. Interdisciplinary vivacity of coeval elaboration in concern, 5(5), 124-133.

    Promotions Project

    Situational Decomposition

    Control an construction to conceive the capabilities insistent amid a bargain, it ought to operatively evaluate the problems and opportunities. This evaluation too enlightens on the power of the unshaken to outlast as courteous familiarizing the conduct on the progeny and company’s composition. The tractate furnishs a guideline aill-conditioned the solution environmental contents that could bias the manufacturing, bargaining, and sales of the progeny. The necessary components of the diatribe trundle-wremit environing the concern edifice, competitors, projected augmentation and unplain consumers. The evaluation regularity is dundivided through the representation of conspicuous perspectives to familiarize the unshaken with the dubious progenys amid the interior and superficial environments associated with constructional bias (Farahani et al., 2016). Identification of insistent challenges and evaluation of the collaborator’s power are made to aid in floating the concern to streamline insistent operations thus creating meliorate zealousholds amid the unshaken.  Situational decomcomsituation engenders an overview of the society that conquer fetch encircling variation of company’s operations thus enhancing meliorate services in the restraintthcoming.

    Progeny Description

    Oculus Rift is the remotest technological progeny that most implicit diversion indicateers are observeing control when alluring in digital gaming. The peculiarty integrated into the Oculus Rift unraveled by the unshaken is its matchless test where the representationrs reach a apprehension of insistent conduct test. The progeny has been schemeed control the representation of the fresh technologies notwithstanding perfectows conspicuous representationrs to comfortably straggle shapeless discretion by switching through contrariant interface panes (Desai et al., 2014). It furnishs a representationr-friendly interface. ACR Oculus Rift has been profitpowerful to perfectow compatibility with uncertain computing shows that aid the deficiencys of multiple representationrs.

        The progeny perfectows interconnectivity to the World Wide Web where representationrs from contrariant locations can simultaneously adopt in the corresponding indicate which promotes as a implicit emulation. Voice input is too a solution content that repairs a meliorate apprehension of adoptment amid the diversion. The apprehension of intercourse is empowerd through the representation of subsided latency and cemal elite order entirely with deceased disindicate technology (Kim et al., 2015). The software collisions accept been profitpowerful in habits that perfectow 3D implicit capabilities other than the moderate gaming models. Collectiveization has too been put into importance where multiple representationrs can obpromote the corresponding indicate by seeing each other as avatars. They can be powerful to divulge or implicitly interact in a habit that produces a insistent-conduct test as abundantly as practicable.

    Company Description

    ACR. Inc is a multinational confirmation that peculiarizes in the fabrication, bargaining, and sales of electronic progenys including PCs, Mobile Phones, Remote controllers, car automation, fridges floating others. The unshaken too peculiarizes in the elaboration on conspicuous sectors to mature continued diversify in representationr test including integration of offline and online platforms such as outshine computing capabilities. Most of the progenys accept the construction’s delineate and logo that promote to adhere-to a good-tempered-tempered paint towards the construction’s stigma (Pharr, 2011). ACR has been powerful to adhere-to a zealous comcomsituation in the global bargain. This content conquer repair a meliorate power of the progeny to penetrate the bargain.  

    Sales History and Bargain Share

    Recently, Oculus Rift has been associated with increased concern from administrative and assiduity spheres respecting advertising, visualization, and repairment. Moderately, men-folks had a scant comprehension of such shows as oculus rift and other VR shows. Eventually, increased innovations accept been characterized by augmentation in the technology bargain as closely entire separate intends to representation a present means. Implicit verity has been applied to the victuals of matchless capabilities globally by enhancing an remotest three-dimensional penetratetainment and ethnical test than what has ceforever been seen antecedently (Pharr, 2011). Demand control the progeny has restored once as representationrs on the observeout control the compatiblely changing stigmas and indications that would empurpose their possess tests.

    Consumer Alienation Regularity

    A unplain consumer is most slight to alienation an Oculus Rift concerning that he/she has had its test as compared to undivided who has no test or undivided who relies on instructation from others. It would, consequently, be momentous control the construction to judge alluring the representationr in the utilization of the Oculus Rift during the bargaining regularity as this is a original temporization control increasing the roll of sales (Farahani et al., 2016). Most of the representationrs who accept already economized the progeny may sppurpose scant span testing and gaining belief towards the progeny. Others may be seeking the progeny control the pristine span. Their conqueringness to representation the progeny conquer, consequently, be resting upon their pristine tests. Most of them conquer unravel a open posture towards the progeny depending on the moderate test towards it.

    Superficial Demand Contents

        Consumer Tastes and Preferences

    Most technology representationrs freshly are focusing on the present and evolving technologies to close augmentation. Continued 3D audio actively contributes to a meliorate adoptment apprehension that an separate is alluring in a insistent-conduct gaming (Lau et al., 2013). Tastes and preferences may too variegate as contrariant representationrs could accept contrariant expectations. Representationr feedpurpose has consequently been incorporated to repair customization of restraintthcoming progenys in habits that mature meliorate operation. This too increases the merit of a bigger bargain.  

        Demographic

    Oculus Rift is a progeny that has prominently been economized floating the youths and the average ages. These men-folks are observed to prize matchless tests such as implicit verity gaming (Lau et al., 2013). They siege concern towards online activities. There, eventually, insist a negligible enumerate of the aging men-folks of aloft 70 years who accept economized the progeny. This has been brought by their inpower to effect present technologies and failure of concern towards the representation of such shows.  

        Economic

    The progeny is expected to engender meliorate economic output internationally concerning the encouragement benefits associated with the increasing concern in other sectors specially in union to advertising (Griffin et al., 2017). Most constructions accept freshly economized the representation of Oculus Rift in advertising where Pop-ups and ads can be representationd to bargain and advise progenys to ardent representationrs. This sight of concern is naturalized upon representationrs test and online profiles engenderd confidentially.

        Technological

    Oculus Rift effects besubsided the utilization of Augmented and Implicit Verity which involves computer engenderd sensory input that mimics the insistent-world environment such as graphics, video, and investigate. The operativeness of a separateicular technology is observeed upon besubsided conspicuous characteristics including usability, immersion, longing, disturbance, flexibility, affordpower and groove power. Technological diversifys and increasing trends in computerization has been linked to the present trends in aggression and trends in present constructions (Desai et al., 2014). ACR, entity a technology-sound MNC, should unceasingly evaluate the diversifys in technology to fix that it keeps up to time with aggressions and encouragement emulation. ACR’s power to adhere-to a competitive has been linked to its exoteric comcomsituation and strengths amid the bargain.

        Political/Legal

    Growing technologies, specially in the instrument, accept been characterized as unceasingly generating collectively sound paints or videos that bias men-folks’ contrivance conclusions. It, eventually, becomes enigmatical to prophesy the collective leaning of the separateicular technological show until it has been working and economized. The utilization of uncertain shows in contrivance goals could feign the conqueringness of nation to representation them.

        Social/Cultural

    The conduct of representationr interactions with the insistent environments has been a exceedingly close progeny in Implicit Verity (VR). Proportioned affect any other technological show or collision, oculus rift has been associated with restraint of an separate’s collective interaction (Kim et al., 2015). Floating the youths, the technology becomes addictive to extents that they siege fewer priorities in other dubious collective courteous-balancedts such as order.

        Competitors

    Akin constructions such as Apple, Samsung, and HP accept been the most persuasive competitors. ACR has been powerful to unravel Oculus Rift technologies that enclose the most fresh technologies (Wilson & Soranzo, 2015). These techniques accept been associated with increased requires as compared to akin progenys from rivals. Some consumers are worth sentient and could be attracted by a progeny due to its subsided require as compared to an closely homogeneous progeny. ACR could close a past advantageous requireing through meliorate manufacturing strategies that fix fewer requires of symbolical and services which would be associated with a decreased require of the progeny.

        Substitute Progenys

    Uncertain constructions accept unraveled choice implicit verity progenys that accept after to dominate the bargain (Desai et al., 2014). The most dominant is the Google Cardboard which has siegen 30% of the global bargain. Other akin progenys enclose HTC Vibe, Sony IndicateStation, and Samsung Gear VR. Restraintthcoming variation control the Oculus Rift should be naturalized on the encouragement trends as courteous as the exceedingly beautiful indications that fetch encircling meliorate representationr test.

    References

    Desai, P. R., Desai, P. N., Ajmera, K. D., & Mehta, K. (2014). A re-establishment tractate on oculus rift-a implicit verity headset. arXiv preprint arXiv:1408.1173.

    Farahani, N., Post, R., Dubey, J., Ahmed, I., Kolowitz, B. J., Krinchai, T., … & Pantanowitz, L. (2016). Exploring implicit verity technology and the Oculus Rift control the testimony of digital pathology slides. Vivacity of pathology instructatics, 7.

    Griffin, T., Giberson, J., Lee, S. H. M., Guttentag, D., Kandaurova, M., Sergueeva, K., & Dimanche, F. (2017). Implicit Verity and Implications control Destination Bargaining.

    Kim, J., Chung, C. Y., Nakamura, S., Palmisano, S., & Khuu, S. K. (2015). The Oculus Rift: a require-operative dupe control examineing visual-vestibular interactions in self-motion understanding. Frontiers in psychology, 6.

    Lau, H. F., Kan, C. W., & Lau, K. W. (2013). How consumers provision in implicit verity? How it works?. Advances in economics and concern, 1(1), 28-38.

    Pharr, J. M. (2011). A elaboration agenda control investigating the operativeness of stigmaing in implicit verity. Vivacity of Conduct and Bargaining Elaboration, 8, 1.

    Wilson, C. J., & Soranzo, A. (2015). The representation of implicit verity in psychology: a fact examine in visual understanding. Computational and commonplace methods in corrective, 2015.