In order to complete this assignment, include the following parts into your paper:

Part 1

Length: 5 pages

Explain how marketers of your selected product could perform external environmental market analyses as well as internal and external market scanning to make marketing decisions based on critical customer-based information necessary to successfully market their product.

First, perform a PESTLE analysis (Links to an external site.) to ascertain the most important external factors that you believe will impact the marketing of your selected product. Create a two-column table listing the PESTLE factors in the left column and the marketing impact of each PESTLE factor in the right column.

Next, use the SWOT analysis template below to discuss the key factors that will impact the successful marketing of your product. When using the template remember to:

• List the important environmental factors in the Opportunities and Threats boxes
• List the major internal factors in the Strengths and Weaknesses boxes
• Write one or two strategies in the four intersecting areas of the template (the unshaded boxes)

Citation: http://www.quickmba.com/strategy/swot/ (Links to an external site.)

In the final portion of Part 1, concisely suggest two recommendations, one per analytical method studied, that you would provide to your selected organization based on each of your PESTLE and SWOT analyses.

Part 2

Length: 4 pages

• Develop this part of this paper with reference to a statistical test of fictitious data. Investigate and briefly explain how you would go about answering a fictitious research question related to a product with which you are familiar through the use of a t-test procedure of your fictitious data.
• Create a Research Question (a relatively narrow question that represents an important issue in your selected company or industry-state it succinctly)

A couple of examples of research questions are:

• Are customers’ intentions to buy my product or a competitor’s product greater?
• Is the awareness of my product or a competitor’s product greater?

As you complete this section, please note the following:

• Data does not need to be gathered to perform this assignment and statistics do not need to be calculated.
• Clearly state the data type needed to perform your test and why it is needed.
• Briefly, discuss the manner by which you would construct survey instruments/questions/statements to gather empirical data to answer your marketing or business question with quantitative data.

Part 3

Length: 5 pages

In this section of your paper, address the seven major research issues noted below: 

1. What problem are you trying to solve or lack of knowledge are you attempting to fill? Your problem needs to involve the comparison of measurements usually the means or averages of data.
2. What is your research question that stems from your problem definition? Create a Research Question (a relatively narrow question that represents an important issue in your selected company or industry-state it succinctly).
3. What contextual knowledge do you know about the environment which led you to or supports the prior research question(s)?
4. What hypotheses would you need to test? Based on your research question, create null and alternate (research) hypotheses in both symbols, as noted in your text, and words to address your research question.
5. What techniques, approaches, or statistical techniques would you use to gather and analyze your data in addition to the t-test that you were instructed to explain earlier in these instructions?
6. What would be the form of the findings or results of your analyses? Be sure to mention how you would display findings such as test statistics and their associated p-values.
7. What would your findings or results imply or suggest about actions that you should take based on your market research study?

Part 4

Length: 3 pages

• Your paper should also explain how you would go about determining the demand for your product in addition to your discussion of the statistical issues noted above.
• Discuss how the marketers of your selected product attempt to forecast the demand for the product category in which their new or existing product(s) competes.
• In doing this, it is appropriate to consider various forecasting strategies and to compare various quantitative and qualitative methods with respect to their efficacy as they relate to your selected product.