Assessment requires you to undertake a market opportunity analysis for a new product. You will present the market opportunity analysis as a portfolio. This portfolio should be 1500-2000 words maximum in length not including the title page and reference list.
Your task in Assessment 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 product.
a) Legion Do-It-Yourself Solar by PLX Devices, viewed 10/06/2016,
https://www.kickstarter.com/projects/plxdevices/legion-solar-a-better-way-to-energy-independence
b) Simpli Press French-Pressed Coffee by simpli press, viewed 10/06/2016,
https://www.kickstarter.com/projects/simplijenni/simplipress
c) Vi Artificial Intelligence Personal Trainer by LifeBEAM, viewed 10/06/2016,
https://www.kickstarter.com/projects/1050572498/vi-the-first-true-artificial-intelligence-personal
d) A new product for the business/organisation you currently work for or the business/organisation you want to start up. If you choose this option, on-campus (internal) students will need to gain approval from your local lecturer/tutor. Off-campus (external) students will need to contact the course coordinator [email protected] for approval.
You will need to address the following criteria:
1. Describe the new product chosen and current market conditions in Australia by examining relevant business trends, competitors, customer needs and other factors in the marketing environment that may affect consumer purchasing (research evidence is expected to help support your discussion);
2. Conduct a strengths, weaknesses, opportunities and threats (SWOT) analysis;
3. Explain the nature and scope of marketing in general including your understanding of the marketing concept;
4. Explain your understanding of marketing research techniques and analysis, and how they are important to marketing decision-making; and
5. Differentiate between the marketing mix and the extended marketing mix.
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.