market via elements like customer demographics W r i t i n g
**Please provide an analysis for the areas listed below when developing a marketing plan for a hypothetical business providing Self-Care services and products to its customers. Services such as yoga/meditation, massage, self-care consulting, etc.
** Note: You should make all assumptions needed for the completion of this assignment for this hypothetical business.** 4-6 pages, double spaced, Times New Roman, 12** A minimum of 3 peer reviewed, quality references
Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. Include an introduction of these elements. Write an introduction to this section (minimum of three sentences).
Competitive analysis here – (who is the competition – direct and indirect, why do you consider them to competition, what do they do well, what might be a weakness?).
Economic analysis here – (Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country).
Political and Legal Analysis
Political and legal analysis here. Separate the topics if you have significant analysis. (Political and Legal: Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and employment laws).
Technological analysis here – (How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government).
Sociocultural Forces Analysis
Sociocultural forces here – (With the social factor, a business can analyze the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase).