Identify and describe using segmenting variables, one target market being served by your company

Explain the customer value provided by your new product

 

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SKU: Em0041

Intended Learning outcomes:

1. Research and evaluate an existing business; based in local, regional and global context; define its internal and external environments and identify a strategy to best align the business’s internal capabilities with its external opportunities.

 

2. Research, define and argue a business case to justify a new product appropriate to the socio-cultural and economic context.

 

3. Communicate effectively to a culturally diverse audience through structured written argument in a professional report format.

 

4. Search for, locate and evaluate discipline apecific information

 

Purpose and aims:

This assessment is designed to apply the knowledge and skills developed by the students to evaluating the external and internal environment in which new product is to be realised and defining strategies appropriate to its realisation. In this assignment, the student is expected to analyse the external and internal environments (SWOT), identify a relevant strategy (S-O, W-O etc), identify and describe a target market, and develop a suitable new product for the company to introduce for this target market.

 

Description of assessment;

In this assignment each student must choose a company from the list of companies provided(see table on next page). You will choose a country (not Australia) that your company operators in and provide relevant background information and analysis on both the company and country, and design a new product for the company to launch in that country.

You will need to provide a market description of the relevant market conditions that your company operators in. This might include variables such as the prevailing economic conditions, demand and supply factors, and a description of the industry etc. for that country. You will need to provide a referenced SWOT analysis for the company in that market, identifying the internal strengths and weaknesses and external opportunities and threats of the company for the chosen market. The goal of a SWOT analysis is to identify the critical factors that may affect your proposed business concept (or new product) and then build on your strengths to reduce your weaknesses, exploit opportunities and avoid potential threats. Students are also expected identify and describe using marketing segmenting variables, one target market being served by your company.

 

Use 3 types of resources in the marketing plan:

1. Industry reports

2. Company reports

3. Prescribed textbook

 

Activity

1. Executive Summary

 

2. Introduction and background to the company

 

3. Market description

Discuss the confectionery market in your chosen country, – Market size, market leaders, market concentration, distribution & industry growth etc. Discuss briefly

 

4. SWOT table

 

5. Findings Explanation of the SWOT table

Briefly present the SWOT analysis in a table format for your chosen company. Making sure to rank the elements in each of the  SWOT dimensions. Discuss briefly.

 

6. Recommendations

a. Target market

b. New product description

c. Customer value proposition

d. Justification of the choice of new product using at least one strategy

 

i)Identify and describe using segmenting variables, one target market being served by your company.

 

ii)Describe your new product designed for your identified target market. Include the relevant marketing mix variables.

 

iii)Explain the customer value provided by your new product.

 

iv)Explain how their new product ‘fits’ with the SWOT analysis by describing at least one strategy profile being addressed(e.g. S-O, W-O etc.)

 

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