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Subject Code : ABS102
Country : Australia
ABS102: Fundamentals of Marketing Assignment Help
Assignment Task:

 Undertake a Market Analysis

BRIEF
Create a detailed overview of the current market situation surrounding a company of your choice.

ASSIGNMENT INFORMATION

In this assignment, you are required to conduct a thorough analysis of the current market situation faced by a company of your choice. Within your analysis, you will be expected to:

• Identify the key considerations to be made within both the micro and macro environment of the company;

• Determine the various customer segments the company appeals to;

• Identify who the target customer segments are; and therefore;

• What the market position is that the company tries to hold.

To get started, you will need to select a company which will be the basis of your assignment. You could select companies that fall within any of the following categories:

• A major corporation that you are interested in, such as Nike, Apple or Lego;

• A local business in which you develop a relationship with the owner or manager (note, this is a terrific way to begin your networking and professional development and is thoroughly encouraged);

• The company you currently work for; OR

• You can utilise a concept that you are interested in, that you may have developed in another unit or at another time and develop a marketing plan for this.

This analysis will be used as the foundation for your third individual assignment, where you will be required to suggest changes to an existing product and/or suggest a new product that could be introduced to the market.

PROCESS
The following structure is recommended for your report; however, you may wish to adopt a different approach. Section 1 – Introduction In this section, you should comprehensively introduce the organisation you are focusing your assignment on. In this section you should describe the following:

• The industry your selected company operates within;

• The various products they offer;

• The regions in which they operate.

If you decide to focus on a new venture concept, the same introduction should be made however information presented in the form of justified ideas rather than actuals will be sufficient. Note, these goals must be clearly justified which means, you should provide evidence from research and other sources as to why these goals are useful.

Section 2 – Analyse the Marketing Environment

In this section, you should identify and articulate the key factors of both the micro and macro environments of your selected company. Reflect on the first chapter of this unit where you learnt what groups of stakeholders make up the micro-environment of an organisation, as well as the factors that should be taken into consideration within the macro-environment of the organisation.

• In the micro-environment you should identify the stakeholders themselves, as well as the potential impact they can have on the organisation.

• In the macro-environment, you should identify particular trends within each area and again identify potential impacts they can have on the organisation.

• In both sections, you should identify at least 5 major considerations to be made in regard to their marketing environment.

Section 3 – Breakdown Customer Groups
In Chapters 2, 3 and 4, you learnt how to gather information about customers and consumers, to subsequently group them into market segments with similar characteristics. In this section, utilising the various research processes you have learnt, you should create a customer profile of the various segments your selected company can appeal to, utilising whatever segmentation bases you deem appropriate. Remember that different forms of segmentation can be used together, and don’t have to be viewed in isolation. When completing this section, you may find that the company you are working on has several different market segments they operate in and you may therefore focus on one if you like. For example, if you were working on Nike, you may wish to focus your efforts on just the Shoe Market, as opposed to apparel.

Section 4 – Identify Current Market Position
In this section, you must identify the current market position your selected company finds itself in. If you are working on a venture concept, you should carry out a market positioning exercise on the market you expect to operate within. Reflect on Chapter 4, you learnt about the importance of market positioning, as well as how to identify market positions of organisations.

 

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  • Posted on : October 31st, 2018
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