Assessment - Analyse and Present Research Information and Research International Markets
Task 1 - Marketing Strategy Analysis
Assessment description and Requirements
In Appendix 1, you are provided with a Market Research Report titled Potential Markets for New and Emerging Meats. This report gives the information you need to respond to this Task.
Procedure - The Task requires you to read the Market Research Report in Appendix 1 and then answer a set of questions.
Task 2 - Research Report
Assessment description and requirements
You are provided with a Market Research Brief in the Appendix 1. This is the starting point for your research. You will then do independent research and list the sources you have found that will be helpful for Task 3.
Procedure - This Task requires you to read the report in Appendix 1 and then:
- Choose one of the seven Australian meat products for export
- Choose a country either from their list or a country approved by your trainer as your target market
- Consider possible market segments
- Collect websites and other sources of information about your product's record in exports, and market demand in your chosen market
- Research the market in that country for:
- opportunity
- demand
- profit
- legality
- trade barriers
- cultural barriers and advantages
- The report is ten years old. You may update the research given in the RIRDC report on their selected meat and target market.
Task 3 - Marketing Strategy Report
Assessment description
You are basing your marketing strategy report on the research you conducted in Task 2.
Imagine you work for another team in the Australian Government's Rural Industries Research and Development Corporation (RIDRDC). It conducts research on behalf of Australian farmers.
The report in Appendix 1 is old. It was tabled in January 2006. The RIRDC wants to update their research and consider the opportunities for exporting meat.
Your job is to analyse the export opportunity for your chosen meat product to your chosen market.
Use your research either to argue for or to argue against a particular chosen strategy.
Companies are looking to make money and not lose money. So ideally you will identify a good market opportunity. But if your research demonstrates that the original strategic idea you had, was a bad one, your research is still valuable because it will close a door on the likelihood of the company losing money by choosing a bad strategy.
The important thing is your research and what it tells the Australian Government.
Procedure and steps - The Task requires you to read the websites you identified in Task 2. If in the meantime you find other useful websites, you can include them. If you have other information sources (eg a survey) include them too of course. A diversity of information sources makes you a better researcher.
You now need to sort and bring together your information and recommendation in a report that mirrors industry report structures.
Follow these steps in writing your report:
- Start with an Executive Summary which clearly defines your research objectives
- Describe your target market (in this case, the population of your chosen country)
- List and describe the market segments in your market
- Identify trends
- Apply statistical tools and methods of data analysis - ie. use Excel or other software to create graphs, making your information visual and therefore easier to picture
- Include any legal advantages or disadvantages and any other relevant information such as culture, health, transport, chain supply, etc
- Conclude by making recommendations giving reasons for your recommendation
- Record your sources of information.
- Use the Report in Appendix 1 as a template. You will not need to use all of the headings that they use, but choose appropriate ones for your report.
- Present your report
Task 1 - Marketing Strategy Analysis
Use this template to write your answers:
a. In 2004 there were 7 main existing markets for Australian meat exports mentioned in this report. Which countries were they?
b. They did not choose any of these markets for their research. Which country did they choose as their target market?
c. Which two market segments did they identify within the target market?
d. There were seven meat products that they had been promoting in those 7 main markets. What were they?
e. Which of the seven products did they choose to introduce to the target market?
f. What market advantage did they report on this chosen meat?
g. Name one other advantage the product had:
h. Name one concern the market had with importing Australian meat:
i. Which promotional method did they choose?
j. Where exactly did they choose to promote the chosen product?
k. When was the promotion?
l. How many people did they invite to the promotion?
m. What industry sector, or market segment, did they represent?
n. What cultures did the guests represent?
o. Where did the cook come from?
p. If you consider the target country and its population of many millions, to what extent do you think the Australians were going to penetrate this market? In other words, what percentage of the country's population would become aware of the chosen meat through this particular promotion?
q. Were the researchers aware of this? How do you know?
r. Were the researchers confident in all their information sources?
s. If they were exporting the usual Australian exports of lamb, beef and goat, what licence would they need to obtain from the Australian authorities?
t. In exporting kangaroo to other international markets, do they feel that there are any major trade barriers such as competitors, culture or tariffs?
Task 2 - Research Report
Use this template to write your answers:
i. Export meat chosen for further research:
ii. Country chosen for further research into market potential:
iii. Market segments identified:
iv. List your information sources here. Please note, you do not have to refer to all of these sources in Task 3, but you do need to submit a preliminary list of websites and other sources that your trainer can check before you commence Task 3. If you have less than 5 sources, explain why there is not 5 or more. If you identify more than seven sources, continue your list numbering 8 onwards.