Market Evaluation

Workbook SGA1233 Market Evaluation © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3 151Assessment Task 3 This assessment consists of 1 part which must be answered. The instructions to complete this assessment are included on the following page. Follow the instructions with each question. This assessment should take you about 5 – 6 hoursto complete. When you are confident that you have met all requirements for this assessment task, upload your file using Study Smart for marking. It is recommended to use the Martin College Library on Study Smart where the Study Skills Section has referencing guides available which provide clear and comprehensive information that should help.SGA1233Market Evaluation Workbook 152 © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3Assessment Task 3 –Marketing Analysis Report Scenario Provide students with the case study on Hidden Valley Cabins that is provided as Assessment_Task_3_Hidden_Valley_Handout.pdf. Instruct students to use the following links: http://www.tq.com.au/resource-centre/special-interests/ecotourism/http://www.hiddenvalleycabins.com.au/The assessment asks students to evaluate market data, distinguish the characteristics of possible markets and assess the viability of making changes to current operations so that marketing opportunities can be taken advantage of. Requirements Students are to prepare a report on evaluation of marketing opportunities which should contain a table of contents and the following sections: ? Executive Summary ? Introduction ? Purpose of the report ? Findings ? Conclusion ? Recommendations Workbook SGA1233 Market Evaluation © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3 153The report must include: 1. A situation analysis covering: ? Market background (description and structure) ? Market size (value and/or volume or relative size) ? Market growth ? Market segments ? Consumer behaviour factors ? Key competitors ? Environmental factors 2. An investigation of possible marketing opportunities and an evaluation in terms of their likely fit with Hidden Valley Cabins. 3. A review of the financial viability of opportunities. 4. A ranking of opportunities in terms of their viability and likely contribution to the business. 5. Description of the changes that need to be made to current operations. 6. An analysis if the new product will affect any of the other products and how the continuation of a quality service to existing customers can be assured. 7. An estimation of resource requirements for changed operations (consider marketing, sales, promotion, manufacture, distribution). 8. A recommendation of the viability of making changes to current operations to stakeholders as required. SGA1233Market Evaluation Workbook 154 © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3Criteria 1. Items 1-8 (above) are fully described with sufficient detail. 2. The situation analysis demonstrates evidence of sound marketing research applied to the product and the target market. 3. Marketing opportunities are identified, ranked and evaluated. 4. A description of the changes that would affect operations and the impact the product has on other products and in the provision of a quality service to existing customers. 5. A summary of the resource requirements with financial estimates. 6. Appropriate recommendations/conclusion. 7. The report contains the dot points as headings in the report with the ‘Findings’ section including items 1-7 above and item 8 found within the Recommendations/Conclusion. The report length was adhered to + or –10%. When you have completed this assessment, upload your file to Study Smart (refer to the link ‘How to submit an assessment’ in the Study Smart home page). Due Date:Session 20Workbook SGA1233 Market Evaluation © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3 155Alternative Assessment Task 3: Marketing Analysis Report Scenario Identify and evaluate marketing opportunities for Beckham Ventures Limited’s release of children’s sportswear. Please note this is product does not exist and has been created for assessment purposes only. David Beckham is world renowned as a soccer legend. With excellent soccer skills and knowledge of the game, he took the world by storm and is considered one of the most gifted athletes of his generation. He has created an empire which includes fashion clothing, fragrances, a memoir ‘Both Feet on the Ground’ and a range of merchandise with his wife, former Spice Girl Victoria “Posh” Adams. As the father of three young boys, David and Victoria Beckham want to create a line of young soccer sportswear. The line will be released through their company Beckham Ventures Limited and their goal or mission is to ‘create an affordable and exciting line of quality soccer wear for every budding soccer star worldwide.’They decided to undertake test marketing of the product range in one geographical area only to see if it has merit. The test market was Tasmania, Australia and it succeeded! Now they want to launch in your capital city. Your challengeYou are hired as the marketing consultant to prepare a full strategy and situational analysis around this product. The product range will be called Beckham Sports Star Rangeand consist of Beckham branded soccer training shirts and singles, shorts, socks and hats for boys and girls aged 4 to 12. SGA1233Market Evaluation Workbook 156 © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3Requirements You are to prepare a report on evaluation of marketing opportunities for Beckham Ventures Limited which should contain a table of contents and the following sections: • Executive Summary • Introduction • Purpose of the report • Findings • Conclusion • Recommendations. The report must include: 1. A situation analysis covering: ? Market background (description and structure) ? Market size (value and/or volume or relative size) ? Market growth ? Market segments ? Consumer behaviour factors ? Key competitors ? Environmental factors 2. An investigation of possible marketing opportunities and an evaluation in terms of their likely fit with Beckham Sports Star Range.3. Financial viability of opportunities (Hint: take on board competitor successes and factor in the Beckham brand.) Workbook SGA1233 Market Evaluation © Study Group Australia Pty Limited, SGA1233-L6/08/14-V3 1574. Ranking of opportunities in terms of their viability and likely contribution to the business (Hint: opportunities to work with junior sports clubs, etc.) 5. Changes that need to be made to current operations (assuming they have no manufacturing outlets in Australia. You will need to see if they already have distributors in Australia for their other products; check online.) 6. If the new product will affect any of the other products and how the continuation of a quality service to existing customers can be assured (consider distribution outlets, the existing and potential markets.) 7. Estimation of resource requirements for changed operations (consider marketing, sales, promotion, manufacture, distribution.) 8. A brief communication plan that details the viability of making changes to current operations to stakeholders as required. Criteria 1. Items 1-8 (above) are fully described with sufficient detail. 2. The situation analysis demonstrates evidence of sound marketing research applied to the product and the target market. 3. Marketing opportunities are identified, ranked and evaluated. 4. A description of the changes that would affect operations and the impact the product has on other products and in the provision of a quality service to existing customers. 5. A summary of the resource requirements with financial estimates. 6. Appropriate recommendations/conclusion. SGA1233Market Evaluation Workbook 158 © Study Group Australia Pty Limited, SGA1233-L6/08/14-V37. The report contains the dot points as headings in the report with the ‘Findings’ section including items 1-7 above and item 8 found within the Recommendations/Conclusion. 8. The report length was adhered to + or –10%. When you have completed this assessment, upload your file to Study Smart (refer to the link ‘How to submit an assessment’ in the Study Smart home page). Due Date:Session 20