Analyzing the marketing environment
In this chapter we discussed the importance of analyzing the marketing environment. In the next section of the marketing plan exercise, you will analyze the environment you will be entering upon graduation. Your assignment is to prepare a market summary for the job or graduate school program you are interested in pursuing after graduation. If your objective is a specific job or career, you need to answer questions like:
· What is the average salary?
· What are the companies that are best positioned to offer the kind of job you want?
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· Are there jobs in this field located where you want to live?
· What is the total size and growth rate of the industry you are planning to enter?
· What is the current unemployment rate in that field, and what percentage of jobs are filled by new college graduates?
If your objective is graduate school, you need to answer questions like:
· What schools offer this program?
· What are those schools’ admission statistics (percentage accepted, tuition and fees, financial aid available, etc.)?
· What are the average Grade Point Average (GPA) and entrance exam (LSAT, GMAT, MCAT, etc.) scores?
· What is the average starting salary for graduates of these programs?
It is important to conduct an honest environmental assessment. Students sometimes have unrealistic expectations of what their first job out of school or a graduate program may be like. The better you understand the environment you are entering, the better you will be able to market yourself and your skills to succeed in it.
Your Task: Write at least a two-paragraph marketing summary describing the environment you will face after graduation.