For this assignment, you will need to write three components of an external analysis for Healing Leaves Company website: https://www.healingleavesnc.com/
ONLY focus on the RETAIL side (products offered) NOT services offered.
External Analysis Rubric
External Analysis: This section presents information on the external environments that are affecting or will affect the organization in the future. Consider the following questionsnot all of them may apply to your product. This analysis will help you identify opportunities and threats as part of the SWOT analysis. (You should NOT discuss your company in this section.) Google all relevant terms to find the data/evidence you need for this section. For example, if your business is a coffee shop, you would first Google sociocultural trends for coffee (or coffee drinkers or coffee cafes), then further research what you find. Be sure to cite the sources of the data and information you use; otherwise, it is plagiarism. This is the evaluate options step of the DECIDE model, as you are identifying those options).
Sections of the External Analysis you Need to Write
Section 1 – Regulatory: What are government policies towards your product category or industry? How is it regulated? If your product is produced overseas, are the diplomatic relationships changing between the governments? What is the political stability of the country in which you operate and from where you obtain your supplies? Will the state or federal government increase or lower taxes? What labor and employment regulations exist? Will wages be mandated to increase? How free is trade and will that change in the near future? What legal liabilities or risks might companies in the industry face? Is the industry required to license its product? Are health or OSHA inspections required? Can the industry protect its intellectual property? Are there any trends in regulatory policies that may affect the industry?
Section 2 – Economic: What is the economy of the country in which your company operatesGDP, economic growth, unemployment rate, inflation rate, consumer spending? How are these expected to change? What are the economic strengths and weaknesses?
Section 3 – Technological: How does the country in which you operate rank in terms of technological innovation? What are current and future technological innovations in your chosen industry? Google technological innovations in the [NAME OF INDUSTRY].
Be sure to focus on current AND future trends. Support your statements with cites (Author, Year). This section will require substantive research.
Refer to the following documents: For examples of this assignment: Blackbeard Coffee Roaster Marketing Plan.pdf, Hi-Wire Brewing Marketing Plan.pdf Pooch Selfie 2020 Marketing Plan .pdf – remember you are only focusing on the regulatory, economic, and technological sections of the external analysis.
Refer to the Marketing Plan Grading Rubric.doc for the expectations of this assignment.
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