Assessment 2 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.
Assessment 2 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 2 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,
b) Simpli Press French-Pressed Coffee by simpli press, viewed 10/06/2016,
c) Vi Artificial Intelligence Personal Trainer by LifeBEAM, viewed 10/06/2016,
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@example.com for approval.
NB: The option you choose will also be used in Assessment 3.
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.
This is an individual assessment (no groups).
Submit your portfolio online through the course Moodle site.
Your portfolio should contain the following:
• A single Word document that addresses each of the 5 criteria listed above plus a reference list showing use in-text of at least six (6) scholarly sources of information, excluding the course text. Use size 12 font with 1.5 line-spacing in this Word document (no PDF).
• An appendices (this is compulsory) attached at the end of the Word document that includes:
• Self-evaluation documenting your learning journey.
• Any other supporting items such as graphs, charts, tables and diagrams you deem suitable.
• 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.
• Product description, current market conditions and analysis. Out of 11 marks.
• SWOT analysis. Out of 6 marks.
• Nature, scope and key concepts of marketing. Out of 3 marks.
• Marketing research techniques and importance. Out of 2 marks.
• The marketing mix and extended marketing mix. Out of 2 marks.
• Citations and Reference list. Out of 3 marks.
• Self-evaluation. Out of 5 marks.
• Supporting items. Out of 5 marks.
• Spelling, grammar, and written presentation. Out of 3 marks.
• Total: Out of 40 marks.