Undertake a market opportunity analysis

Assignment Help Marketing Management

Reference no: EM133675325

The Assessment task requires you to undertake a market opportunity analysis for a new product. You will present the market opportunity analysis as a portfolio simulating a real-world scenario. This portfolio should be 1500 words maximum excluding the title page and reference list.

Your task is to choose ONE (1) of the options listed below and write a market opportunity analysis focusing on current Australian market conditions to determine market attractiveness for your new product.

a) Kapsio Intelligent Coffee Maker (viewed 31/01/2024)

b) Kavvo Hop Smartwatch (viewed 31/01/2024)

c) Namarie Hemp Activewear (viewed 31/01/2024)

d) A new product for the business/organisation you currently work for or the business/organisation you want to start up. If you decide this option, on-campus students will need to gain approval from your workshop leader/tutor. For distance education students (DST), students will need to contact the unit coordinator for approval.

NB: The option you choose will also be used in the Assessment 3 task.

You will need to address the following criteria:

Describe the new product chosen and current market conditions in Australia by examining three (3) relevant business trends and customer needs (research evidence is expected to help support your discussion);

Analyse two (2) competitors in Australia, including their relevant marketing strategies and innovative marketing approaches (e.g., digital and social media), and assess how this may affect consumer purchasing (research evidence is expected to help support your discussion); and
Conduct strengths, weaknesses, opportunities, and threats (SWOT) analysis for your new product.
Instructions

This is an individual assessment (no groups).
Whilst developing your portfolio, it is expected that you share ideas and insights on the Moodle forums.
Submit your portfolio online through the Assessment tile on the unit Moodle site.
Your portfolio should contain the following:

A single Word document (no PDF), including a title page, that addresses each of the 3 criteria listed above plus a reference list, using APA referencing style.

Use in-text of at least ten (10) quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites.

Use size 12 font with double line-spacing in this Word document.

An appendix or appendices (this is compulsory) inserted at the end of the Word document that includes:
A completed self-evaluation/re?ection, documenting your learning journey (the template to be inserted into your Word document is available in the Assessment 2 resources folder on Moodle).

Provide at least three additional supporting items, with a brief discussion justifying each, such as graphs, charts, tables, photographs, and diagrams you deem suitable in helping support your learning journey.

Skills

A market opportunity analysis is widely used to determine market attractiveness.
A portfolio is a collection of items documenting what and how you have learnt.
This is a challenging assignment. It will provide you with the opportunity to undertake a significant piece of work with a practical commercial application.

Reference no: EM133675325

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