Week 1 Assignment-Analyzing the Macro environment
Kotler and Keller (2016) define a trend as a “direction or sequence of events with momentum and durability; trends reveal the shape of the future and can provide strategic direction” (p. 45). The textbook uses the example of the trend in society towards digital and mobile technology.
For this data mining assignment, you will use secondary research on a current early-stage trend in the macro environment and then write a paper examining the trend in light of the marketing opportunities present.
Select a trend in its early stage. In a Microsoft Word document, write a paper that addresses the following:
· Step 1: For the early-stage trend you selected, do the following:
o Explain the reasons that indicate the trend could develop into a market.
o Describe how an organization could be successful exploiting the trend.
· Step 2: For the early-stage trend, answer the following questions:
o Why should the firm capitalize on the trend? What are the “upsides” for producing products that are “trendy?” What are the “downsides?”
o To what demographic groups would the trend appeal? Your report should include as much detail into the specific characteristics of these groups as is available.
o How large is the potential market for the trend?
Ensure your paper incorporates the following:
· A minimum of two pages (not including cover page, table of contents, etc.)
· Double-spaced lines
· 12-point font size text
· APA writing style