Diploma of Business

Diploma of Business

Complete all assessment questions in this assessment.
Each unit should be answered on a different file – each unit must be completed in a word version.
Marketing
Activity Task 1:
1.1. Select a retail business in Brisbane that one of the team members is
familiar with. You must research and gather information, then describe
the company’s business and its main products/services and analyse the
needs of its present target customers.
Description of the company should include:
? name of the company
? The industry
? The main purpose and mission of the business
? The size of the business
? The main products and services that the business
provides
Analysis of the current customers and their needs should include the
following:
? Geographical segment
o Income level
o Social class
o Education level
o Occupation
? Psycho graphical segment
o Lifestyle
o Interests
? Behavioural segment
o How often they buy
o When and where do they shop
o How much do they buy
o What makes them buy the products
Activity Task 1.2.
New Markets and Opportunities (Market Opportunities Analysis) (Assessment
6.2)
Using the same business that you have analysed in Activity 1, analyse the business
environment for new market opportunities. Your analysis should include the
following:
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a) A review of the external environment to identify changes that may lead to
market opportunities or threats to the organization
a. Political and legal environment
i. Changes in government policies and focus eg. Tax reform,
tariff etc
ii. Changes in business and consumer laws that might affect
the company
a) Economic and financial environment
a. Changes in economic strength, worldwide, nationally etc
b. Changes in interest rate, inflation costs of living, costs of materials
b) Social, demographic and cultural environment
a. Changes in lifestyle and their needs and expectations
b. Changes in size of age groups
c. Changes in income and occupational groups
d. Changes in people’s belief, entertainment need and sense of
belonging, interests etc.
c) Technology and the natural environment
a. Changes in the development of technology and production
processes that might impact on the business in the short and long
term e.g. new computing system, new machines for production,
promotions, etc.
b. Changes in climate, sources of raw materials, pollution and waste
disposal etc that may affect the costs and profitability of the
business
Activity Task 1.3
Discuss the changing needs in the external environment and explore the new
or modified products or services that your organization can develop to meet
the needs of the new market segments. Identify at least 5 new products or
services and justify your choice. Be creative!
Activity Task 2.1
Using the same company that your team used in activity 1 do an analysis of the goals and
capabilities of the company. This activity requires you to do market research and to gather
information about the company’s future plan and its resources. Summarize your findings in a
table showing the major strengths and weaknesses of the company.
Activity Task 2.2
This activity requires you to chart and evaluate the attractiveness of the market segments
for the new product or service idea identified in activity 1.3.
Each product/ service idea and the target market segment is to be evaluated based on the
following criteria.
Criteria (Rating (1 – 10)
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1. Market Size
2. Growth potential
3. Level of usefulness to customers
4. Affordability to customers
5. Level of competition
6. Quality and Image
7. Cost of Entry and Exit
8. Amount of Promotion needed
9. Ease of Distribution and Delivery
10. Costs + extent of production/ service production changes needed
Target Market Attractiveness
Target Market Segments A:
B:
C:
D:
Product Idea A:
Attractiveness Rating Scale: 1- 10 (1 = low, 10 = high)
Rating Criteria Target Market Segments
A B C D
1
2
3
4
5
6
7
8
9
10
Subtotal
Activity Tasks 2.3
This activity requires researching the following sources for information on the potential competitors
for the market opportunities identified in Activity 2.2. The team should gather their information
from a variety of sources and summarize their findings in a brief report. The strengths and
weaknesses of each competitor need to be highlighted.
Information sources should include some of the following:
? Trade sources
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o Periodical and trade journals
o Trade shows
? Published Sources
o Company annual report
o Press Releases
o Advertisements
o Correspondence
o Directories
o Websites
o Others
? Supplies
? Other competitors
? Unions
? University Research
Activity Tasks 2.4
Your marketing team must meet to discuss and decide on the product and market segments that
provides the greatest market opportunity based on the findings in Activity 2.1, 2.2 and 2.3.
Your analysis and conclusions must be justified and summarized in a short report.
Activity Tasks 3
What do you understand by the following?
o Costs and benefits
o Opportunities and threats
o Advantages and disadvantages over potential competitors
o Sales forecast
o Return on investment potential
o Production capacity and equipment
o Product modification, brand name, packaging, design, features
o Pricing strategies
o Promotional Mix – advertising message, media, sales promotions brochure,
publicity, websites
o Distribution channels
o Service requirements and support
o Budget requirement
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