Pen Segment: A Massive Market Opportunity (Essay Sample)
The essence of the situation analysis is taking stock of where the firm or product has been recent, where it is now, and where it is headed. The situation analysis is the first of three steps in the planning stage.
The SWOT analysis is an effective shorthand summary of the situation analysis.
The acronym is used to describe an organization’s internal Strengths and Weaknesses and its external Opportunities and Threats. This analysis provides a solid foundation to identify subsequent actions in the marketing plan.
The industry analysis section should provide the backdrop for a more detailed analysis of the competition, the company, and the customer. An in-depth analysis will give both internal and external readers of the plan confidence in the company’s ability to understand its own industry.
c. Competitor Analysis
An effective analysis of the competition should demonstrate that the company has a realistic understanding of its major competitors and their marketing strategies. As in with the industry analysis, a realistic assessment makes readers feel confident that the marketing actions in the plan are well grounded.source..
Ink pen forms approximately 70% market share of the writing instruments market and there is an increased likelihood that it will retain this commanding position for a long time. In addition, the pen sector is anticipated to grow from about $13 billion in 2016 to over $21 billion by the year 2030, recording a CAGR of approximately 4.7% between 2016 and 2030. Therefore, the pen segment is projected to create a massive market opportunity and is a feasible venture; one of the reasons why we have decided to invest in a pen segment....
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