Reference no: EM133178680
BSBMKG435 Analyse consumer behaviour
Task: Market Analysis
Assessment Instructions
This task will require you to conduct a market analysis to assess the organisation's current marketing plan for a chosen product or service.
Use your workplace/organisation's template to complete this task, or use the Market Analysis template provided at the Bounce Fitness site.
To complete this task, you must:
• Access the sources of the following:
o Organisational marketing plan that includes the following information:
• Procurement of materials
• Contractors
• Production costs
• Production lead times
o Organisational records on previous transactions that contain consumer data
o Internet sources that contain information on the market profile relevant to the product or service to be chosen.
• Choose a product or service from the marketing plan.
• Identify the market analysis framework tool used on developing the current marketing plan.
• Identify the consumer needs considered in the market analysis framework tool used to develop the marketing plan.
• Using the marketing plan, identify the following information relevant to the product or service you have chosen:
o Procurement of materials
o Contractors
o Production costs
o Production lead times
• Using the information on the market, identify at least one product or service available in the market similar to the organisation's own product or service.
• Compare each identified feature of the product or service available in the market with each feature of the organisation's own product or service.
• Describe the consumer needs for the chosen product or service through analysis of trends.
• Describe the consumer needs for the chosen product or service through analysis of past performances.
• Choose two consumer types based on the market profile and existing consumer data. Customer types include:
o Loyal consumers
o Discount consumers
o Impulse consumers
o Need-based consumer
• Using information on consumer data and market profile, identify the following consumer attributes for each chosen consumer type:
o Age
o Gender
o Location of residence
• Identify at least two features for each of the following:
o Organisation's own product or service
o Identified product or service available in the market
• Describe the differences between the identified consumer needs used in the framework tool and the consumer needs identified from the analysis of trends and past performance.
• Collate your findings by completing the Market Analysis template.
Review the template you will use to complete this task. If you are using a template from your workplace/organisation, discuss with your assessor to ensure that the template covers all requirements that apply to this task. Otherwise, use the Market Analysis template provided at the Bounce Fitness site.
Submit the completed Marketing Analysis template to your assessor. Include any supplementary documents/sources used to accomplish the Marketing Analysis template, such as:
• Organisational marketing plan
• Organisational records on previous transactions that contain consumer data
• Internet sources that contain information on the market profile relevant to the chosen product or service.