As the Marketing Consultant for the Marriott International Brand Ritz Carlton Hotels in Florida will perform a situational analysis to gain preliminary insight into its operating environment. This is an important step in assessing the current state of the brand, identifying plausible opportunities and laying the foundation for a new and improved course of action. Use the outline below in developing your proposal. You should remember that the audiences for Week one (and all weeks) of the proposal are both the Senior Management team of the designated corporation, and your instructor. Each audience is looking for reassurance that this phase of the report is factual and creative, as well as logical, and the recommendations will strengthen the company’s brand in the marketplace.
To complete your analysis:
Use the Boston Consulting Group (BCG) growth-matrix to state which quadrant best describes your brand’s contribution to its larger corporation. Build a brief justification of your selection.
Conduct a brief SWOT analysis to identify and explain two key elements for each of the sections.
Product Life Cycle:
What stage of the Product Life Cycle (PLC) is your brand at?
How might this impact the management of your marketing strategy?
Possible changes to your 4 P’s?
From your research, which two social media platforms are used most by the brand management team? Justify this answer.
Regarding your market, please explain the following:
Define your market/product category.
How big is the American market as well as the global market?
What is the rate of growth/decline over the past five years? What do you forecast is the growth/decline for the next growth for the next five years?
Name and defend your selection of the top three competitors in your product category.
Include meaningful statistics to support your findings.
Written assignment requirements:
Include an opening paragraph(s) to introduce your client’s situational analysis/history.
Include a preliminary summary of your findings.
Provide subheads for each subject selected to ensure clarity of your findings.
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