Q Getting Started Internal and External Marketing Environments In the first section of the consultant’s report, you determined and discussed the total market demand and probably the market share of some of the current competitors, and you discussed current price points. You also identified where, in the positioning matrix, the JGJ Inc. offering should fit based on an unsatisfied need in the market. In the second section of the consultant’s report, you identified and described the characteristics of the proposed offering that will make it fit the previously identified segment of the market. In this section, the third section, of the paper, you will look at the internal and external marketing environments that will be faced by JGJ Inc. if it decides to enter this market. Understanding a company’s own strengths and weaknesses and the external threats and opportunities is critical for short and long-term success. Internal resources and limitations can be controlled and addressed, but external factors, pressures, or regulations must be dealt with based on resources and sometimes the inherent limitations required by outside stakeholders. Before a company enters a new market, it needs a thorough understanding of what it will take to be successful. Internal competencies may need to be developed and internal resources may need to be acquired. The company needs to identify and begin to track societal, cultural, technological and governmental trends that might impact the demand or how the product needs to be manufactured, marketed, or delivered. Overall, the company needs to identify what it needs to know and acquire before investing time and resources into actual product development to determine if the project has a high likelihood of success. The more research and analysis completed earlier in the process can save millions to billions of dollars if the determination is made early that the launch will not be successful, or that the risk of success is too low to justify the level of investment required. Upon successful completion of this discussion, you will be able to: Articulate models for product differentiation and positioning within the market. Assess the market structure and internal and external marketing environments to determine the crucial factors influencing the marketing strategy.