I’ve written a 10 step marketing plan with all the other parts completed what I need now is a SWOT analysis summary as well as an executive summary for the entire marketing plan to explain the process this executive summary can be less than one page and the SWOT analysis summary should be about a paragraph.1 attachmentsSlide 1 of 1
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1. Executive Summary The Executive Summary, one of the most frequently read components of a marketing plan, is a synopsis of the marketing plan. Although it does not provide detailed information, it does present an overview of the plan so readers can identify key issues about their roles in the planning and implementation processes. Your Executive Summary will be helpful in giving yourself and other constituents (e.g., employees, advisors, etc.) an overview of your plan. Even though this is the first section in a marketing plan, it is usually written last. 2. Introduction We are now a social media society. Everything we do and every thought we have is shared for the world to see. The issue that many people do not realize is how damaging social media can be to their careers. We are a software company that works to help people rebrand their image on social media to help them in their future careers. Our software efficiently and effectively fixes past mistakes on social media. We offer fully customizable software that puts the power of rebranding the social media image in the hands of our consumers. Our product is aimed at jobseeking career professionals who are competing in very competitive job markets. Our product’s purpose is to improve the image of our clients in the eyes of prospective hiring managers. Environmental (Situation) Analysis Company: Techno Scrub is a technology company that produces software to help consumers improve their image on social media sites. The software allows our customers to rebrand themselves and compete in the job market. Techno Scrub also helps customers that are applying for college or trying to advance in their careers. Techno Scrub is a new company that has a patent for its technology. The company removes past activity from social media sites and replaces it with updated content aimed to match the preferred image of the client. Customers: Techno Scrub looks to correct past mistakes made by our clients on social media. These mistakes can have an impact on the futures of our customers. The people most affected by this problem are people between the ages of 18 to 45, career professions with an income potential of over $60,000 a year, recent college graduates, those looking to enter the public sector, and those looking to make a career change. We will target both females and males because both have similar needs in the job market. These customers are trying to improve their lives but have the trouble of past social media content in the way of their future aspirations. Competitors: Competitors are scarce, which is a major benefit to Techno Scrub. Scrubber Social is the biggest competitor. They have a similar product to ours. Their strength is how easy their product is to use (scrubber). Their weakness is their product does not replace what it removes. This can lead to holes within the social media content. Another weakness is the ability to customize the search is limited. They have created a few search criteria that are one size fits all for their customers. The other top competitor in this market is Brand Yourself. This company helps clean their customer’s social media posts. They also scan all images on the customer’s social media accounts and flag anything that could hurt their clients (brandyourself). Their strength is that they are easy to use. They also help their clients by continuously scanning the accounts and notifying the client if anything is found. This allows the client to always have an eye on their social media activity. A weakness is they do not replace what they remove. This can lead to holes in the client’s social media content. Collaborators: Techno Scrub is software that interacts with social media sites. These sites are private companies and Techno Scrub will work with these sites to gain access. The four sites our product will partner with are Facebook, Twitter, LinkedIn, and Indeed. Facebook and Twitter are two sites that people tend to be more relaxed and freer with their posts. These sites will need the most attention from our product. We will advertise our products on these sites and work with them to keep our software up to date. LinkedIn and Indeed are two sites that have users that are currently looking for employment or career advancement. We will use both sites to advertise our products. We can also partner with LinkedIn and offer a package deal with their premium plan. This partnership with LinkedIn will help Techno Scrub create brand awareness. Techno Scrub will also work with web programming companies. These companies specialize in website creation and hosting. This partnership will allow Techno Scrub to put most of its focus on its products and brand creation. Context: There are many factors that will have an impact on the success of the marketing plan. To analyze these factors, we used the PESTEL framework. Political: Techno Scrub might face problems in the future from government regulations. Due to the last two presidential elections, software designed to manipulate social media has been criticized by many politicians. This year the House of Representatives proposed five bills with bipartisan support to regulate the Tec-Industry (Enrique, 2021). None of these bills will influence Techno Scrub. However, Congress is showing a lot of interest in regulating the Tec industry. A product like Techno Scrub might be hurt by future regulations. On the positive side, the United States government has several programs to help small businesses. With Techno Scrub being a new business some of these programs will help the company in its first few years. One example of this is the Employee retention credit. The ERC is a tax credit on 50% of an employee’s wages up to $10,000 an employee (U.S. Department of The Treasury, 2021). Economic: The current economy of the United States is currently uncertain. The pandemic of Covid-19 has the potential of causing widespread unemployment, a decrease in disposable income, and consumer goods shortages that might cause the population to panic. All of this could affect Techno Scrub and might mean strategic changes in the future to the marketing mix. As of right now, the United States economy looks to be stabilizing with unemployment in most job sectors decreasing (U.S. Bureau of Labor Statistics, 2021). Techno Scrub needs to plan ways to penetrate the market in both a stabilized and non-stable economy. The number of citizens looking for a job can fluctuate but it stays around 5.7 and 8.5 million people at any giving time (U.S. Bureau of Labor Statistics, 2021). Social: Techno Scrub will rely on people in the market for a job or trying to get accepted into a college. We believe that people 18 to 44 need the Techno Scrub product. In the United States, there are 119.2 million people in that age group. That age group is also predicted to increase to 125 million by the year 2030 (U.S. Census). Another aspect that might help techno scrub is the high percentage of people that are educated. In the United States, 88% of people over the age of 25 have a high school diploma and 32% of people over the age of 25 have a bachelor’s degree or higher (U.S. Census). The population with a high education is going to be looking for a professional career. How people have acted in the past on social media can influence a person’s ability to enter the professional job market. Some careers or in more of a need for Techno Scrub’s product. Some careers that Techno Scrub will rely on have large numbers of employees that might need the product. Jobs in management, education, social services, and legal are examples of this. In the United States, they have 18.564 million people that work in management, 9.559 million that work in education, 2.68 million that work in social services, and 1.882 million people work in a legal career. (U.S. Bureau of Labor Statistics). These careers and many more will be what helps Techno Scrub succeed as a company. Technological: Technological advancement is fast in the United States. Social media sites and how people communicate are changing every year. Techno Scrub needs to stay relevant with any future technological advancements that are relevant to social media. One concern with software in the United States is how easy it is to share or recreate a similar product and sell it illegally. The United States does have strong copy-right laws, but it does take time for enforcement to correct the damage being done. One of the benefits of the United States market is the amount of the population that uses social media sites. Techno Scrub operates within most social media sites in America. In the United States, 240 million Americans use social media sites monthly (Dean, 2021). This high social media usage will be a benefit as Techno Scrub tries to grow its business. Environmental: Environmental laws will not have any impact on Techno Scrub’s business. Techno Scrub should still be mindful of how any of its partners interact with the environment. Partnering with a company that has a bad history with environmental practices could have an impact on how Techno Scrub is viewed by its customers. Legal: The biggest problem Techno Scrub could face in the future is laws banning the product. Techno Scrub is using social media software that has recently been criticized publicly. Other legal issues could come from social media sites that do not like how our software interacts with their platform. Our product could create a perception that social media sites are not authentic. The sites might decide to protect themselves from our product. Another decision we need to make is if we want to incorporate the business. If so, we need to contact a tax expert to determine the best fit for the company. Once we have decided that we must decide the official location of the company. Each state has different employee and tax laws (TurboTax). SWOT Analysis: Strengths: We have a patent on the Techno Scrub intellectual property. Also, there are few competitors in the market; currently, the closest technology that compares to the service we offer consumers only helps users learn which messages to post to rebrand and create a specific image through their social media presence. Also, Techno Scrub is user-friendly software with a tremendous need and target consumer segment. We also have a dedicated team of innovators who have conducted market analysis to determine how customers would respond to our product and if our product/service satisfies an unmet need. In addition, we have an aggressive marketing strategy focused on educating the consumer about our product and the reasons they need it. We are a new company and have our experienced management team dedicated to the development of Techno Scrub. Also, our founders have a significant social media presence and following across different respective target sites (LinkedIn, Instagram, Facebook), which make them familiar users and competent in navigating the interfaces. Weaknesses: As a new company, we must establish a reputation on the internet and become reputable for consumers to take our product/service seriously. Moreover, our dependence on social media site owners’ acceptance is excellent. The reliance on social media sites becoming early adopters will also dictate our crossing the chasm as new social media sites are developed and released. We do not have a website to attract our customers to; we will address this soon and create a landing page for consumers to learn about our company, service, and purchase subscriptions. Few of our founders are hugely technologically savvy. We do not have any coders, so outsourcing the work for building the products is our only option until one of our team members becomes a subject matter expert. Our start-up costs are significantly high; we currently have little secure funding. There is also a waiting period for our product to be built. Opportunities: We have the opportunity for expansion as other social media sites are launched and consumers create a more significant online presence across multiple profiles. The need to align their brand across different social media sites presents a chance for a product extension. The new product extension will explicitly scan every consumer’s social media profile and align the messaging instantly across the areas and social media sites so that each profile sends a similar message as the other. The extension is slightly different from Techno Scrub, which analyzes one profile and suggests/changes posts to replace them with more appropriate ones- this may create inconsistent messaging with other social media sites (even though Techno Scrub has recreated). The opportunity to build a positive online presence is tremendous as a new company. The global pandemic has left many people without jobs; the current unemployment rate is 6.7% across the globe (219.7 million people). The unemployment rate is an opportunity for Techno Scrub to attract job seekers as there are many more. Threats: Techno Scrub faces the possibility that others will steal the idea and create a similar product or service. Furthermore, social media sites may see what we offer as a threat to their sites being authentic, reflecting the users and profiles visited. Additionally, social media bots are under scrutiny in the political arena in our current climate; although this may change, it may also lead to future legal hurdles. Additionally, the current state of the world is an indefinite pandemic. As a result, jobs may not be available in the future, which means less need for Techno Scrub. Lastly, with our product being heavily dependent on technology, we could have a system error that causes our product to crash; technology advancements that we do not keep up with could cause our product to become outdated and no longer fit needs as social media platforms evolve, so must our product. 4. Strategic Recommendations and Objectives Marketing proposal: Techno scrub is a company that wants to be set up to help those who are seeking jobs to have a clean personification through their social media handles. For this mission to be successful, some information such as problems they may encounter should be considered. This is to help the business thrive in the environment and to cope with any issues that may arise. Recommendations: This company will face several problems despite helping job seekers erase their information that may tarnish their name. To begin with, the company might be unable to find all the information that the job seeker might have inserted into their social media platforms. Some people have different social media handles, and they might have provided many comments that might even take time to delete. This can be time-consuming, and not all job seekers will be handled. The company must consider the SWOT analysis to identify its strengths and weaknesses. It should be remembered that any new company to be set up has some challenges in their external environment. Analyzing the strength of the company, it can take advantage since it has few competitors in the market. Despite having few competitors, Techno Scrub has some challenges as they do not have skilled personnel in terms of marketing their product. The company can take advantage of any personnel who are well conversant with computers and organized to get a public practitioner. Public practitioners can help create a good image of the company and provide a company logo that can help publicize the company. This is a minor challenge that might not affect their customers. Customers should take the chance to work with the company before competitors arise for them to acquire effective work. The main issue facing the company is personification. People pretend to be different people which creates a lot of confusion, especially career-wise. Some pretend to be artists or models which they are not. They also must understand their customers’ needs. What do they want, and what are they searching for¬? Considering Maslow’s hierarchy of needs, he grouped them according to how important people’s needs were. Not all people are the same. Some may be searching for security while others are self-belonging. The company must understand the needs their customers have despite helping them. For example, a particular job seeker may be searching for self-actualization who might be different from another trying to get physiological needs. Abraham Maslow’s theory must be clearly understood and considered. Using SWOT when analyzing, the highest percentage was seen to provide incorrect information from their social media handles pretending to be what they are not. Only a small percentage provided the right information. These recommendations might have some disadvantages for the company even if the company considers the theory of needs. There are some needs that the company might not provide, such as love. The company is working towards making a profit, so it will not start to sympathize with anyone. What matters to them is their name and the number of clients they will handle. Objectives: For the company to become successful, it should have objectives they look up to. They should check whether they have accomplished their goal at the end of the day. Did the client manage to get the job they were searching for? Were they able to erase all the information that can be a threat to them? Did the client finally manage to rebrand themselves? The SWOT analysis has helped as the company can know its strengths and weaknesses. The company must apply the SMART goals to measure its objectives. For example, at the end of it how many clients have they achieved, five or ten? By considering the above questions, the company should be in a better place to serve its clients. Techno scrub should be very keen on analyzing their objectives as they set their primary goal and help to keep their business in check. Mission statement: Techno scrub is a company that acted upon its values to help people get jobs in the industry. It does so by searching for information in their social media handles by embracing any unnecessary information or insufficient information that may affect them. They have noticed that so many people have lacked jobs due to what they have shared on their social media that has become a threat to them. Its main plan is to help the new job applicants, especially the college students. This will significantly help people to get jobs in the industry. 5. Value PropositionHaving a strong, unique selling proposition (USP) is of critical importance as it distinguishes your company from competitors. A competitive advantage that Techno Scrub has over other companies is that we are able to help job seekers cleanse their social media platforms of any inappropriate content that may be frowned upon in a professional environment. Many social media companies such as Facebook, Instagram, and LinkedIn use features such as privacy mode or the archive feature to get rid of inappropriate content at the direction of the user. However, this still causes gaps to be visible by those following the user. Techno Scrub can replace the inappropriate social media content with suitable and professional content without it ever looking like your social media activity was ever disrupted. This feature will allow recruiters and hiring managers to see what social activity the candidate is engaged in without the candidate ever having gaps appear on their social media feed. Among job seekers, Techno Scrub is the brand of social media software that helps our customers compete in the job market because according to a survey by CareerBuilder 70% of employers use social media to screen candidates before hiring. 6. Target Customer Segment Techno Scrub’s target customer is a person between the ages of 22 to 45 who is a long-time social media user. This customer will be a career professional who always has his or her eye out for future opportunities to advance their career or they are curr…
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