Assignment: Tasty Snack Foods: Analysis of a Market OpportunityTasty Snack Foods, a small, start-up gourmet food business, has a new line of gourmet potato chips. The company has been testing the chips in California, and they are selling well. They are now planning to expand the market to another state or region and have hired XYZ Corporation to do some up-front research resulting in a presentation that outlines some options for the company’s involvement in this new market. You have been given this assignment by Michael Johnson, Director of Marketing for XYZ Corporation. He has asked you to put together a report that focuses on a specific state or region and explores the viability of a market opportunity for Tasty Snack Foods to sell its gourmet potato chips.To prepare for this Assignment:Review this week’s Learning Resources.Refer to the Academic Writing Expectations for 2000/3000-Level Courses as you compose your Assignment.By Day 7Submit your report. Use the template provided to create your report, making sure to incorporate a minimum of four scholarly sources, properly formatted, as references.Part 1: Situational AnalysisIn this part of the report, you will perform a situational analysis relevant to the particular state or region you selected. Be sure to include the following:A brief introduction in which you identify the components of a situational analysis (75–150 words, or 1–2 paragraphs)An appraisal of the organization’s environment, including a description of how each of the five Cs pertain to the selected region or state (150–300 words, or 2–4 paragraphs)Specifically, provide a detailed description for each C regarding the challenges that Tasty Snack Foods is facing for that component.An analysis of how each of the Cs affects decision making for the company (150–225 words, or 2–3 paragraphs) Part 2: SWOT AnalysisFor the second part of the report, you will perform a SWOT analysis on the Tasty Snack Foods gourmet potato chips expansion project. This should include the following:An analysis of the organization’s internal and external environmental factors (150–300 words, or 2–4 paragraphs)StrengthsWeaknessesOpportunitiesThreatsA breakdown of the potential traditional and digital marketing strategies based on the SWOT findings (75–150 words, or 1–2 paragraphs)What suggestions related to the expansion do you have for Tasty Snack Foods based on this analysis?