Assessment 1: Minor Assignment: Business Report Plan
Status: Individual task
Word limit: 1000 words (+/- 10%)
Due date: In tutorial in week 5
The objective of this assignment is to conduct an early analysis, identify and evaluate all the marketing factors and develop a DETAILED PLAN with key facts, data and marketing points under relevant headings in preparation and assisting with the major assignment. You are required to conduct research, read widely and draw information from current affairs, and from the relevant sections of the material covered in lectures and tutorials.
Role and task
You have recently gained a position as a junior marketing executive in the organization on which your MAJOR ASSIGNMENT is based and your boss (the marketing manager) has asked you to review the appropriateness of one of your current products for a target segment. The minor-assignment will form part of your final submission for your major assignment. As such you are required to cover some or all of the following areas in the minor assignment.
Significant marks are allocated for evidence of research and analysis of the data and information obtained from this research. The aim of this minor assignment is to demonstrate that you are able to research data and then apply this to your organisation, its markets, customers and products.
* Education Provider e.g. Monash College
* Major watch manufacturer e.g. Rolex
* Cinema e.g. Village, Hoyts
Those who use other scenarios will receive a mark of zero.
The minor assignment should be presented as part of a business report (i.e. outline numbered headings, page numbers, etc). Please refer Q manual for format and APA referencing style.
An individual Business report plan - 5% - 1000 words
(Industry, Company, Competitors, Customers, Environment, STP, Market Research) This plan should include research, specific information and marketing application. * Identify and describe the relevant and key background information of the industry in which your company [organisation] operates. * Brief overview of the market in which the company operates and the product is offered; such as market size and trends, recent developments and key observations. * Description of the organisation with reference to key marketing activities * Identify and describe the product category to which the product belongs * List the relevant micro and macro environmental factors and observe any changes and developments and describe their [micro and macro factors] impact on the industry, market and business. * Identification of the key competitors and key competitive activities. * List the relevant bases [variables] for segmentation of the market. Apply the market targeting process [STP process]. Show possible market segments and profiles that emerge based on segmentation. Key consumer profiles should be briefly described. * Discuss the basis of evaluating segments and select the target market segment together with related [chosen] product offering. * Explain / describe the market coverage strategy, positioning [including a perceptual map] and the marketing mix adopted by the chosen organization.
* A detailed analysis of the target segment(s) (customers) including their needs and wants, defining characteristics, their motivations, buyer decision making process, buyer’s roles, buying situation and observation of changing trends.
* A brief evaluation / discussion of the degree to which the current product satisfies and meets with the needs and wants of the target segment.
* List any other research needs the company may have for further product-market evaluation.