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mkt10007-assessment-3-template.pdf Page 1 of 10 MKT10007 Assignment 2 Template + SP1 2018 Study Period 1, 2018 MKT10007 Fundamentals of Marketing Assignment 2: Environment Analysis, Consumer...

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mkt10007-assessment-3-template.pdf

Page 1 of 10


MKT10007 Assignment 2 Template + SP1 2018

Study Period 1, 2018

MKT10007 Fundamentals of Marketing

Assignment 2: Environment Analysis, Consumer
Segmentation, Market Research;
Task Description + Template + Ru
ic

Marks; 30% Due date: midnight Sunday 6th May 2018.
Part 1: (See attached ru
ic for ru
ic for details) DUE DATE: midnight Sunday 1st April
Word limit: 2,600 (+/- 10% = 2,340 to 2,860 words). If you find that your draft is over the word limit
then move extra material into appendices. Then, in the body of the Assignment you can
iefly
summarize the key points of that extra material and refer the reader to the appendix concerned for
further details. Remember; Charts, Pictures, Tables and Diagrams are not included in the Word
Count.
This assignment will help you to achieve these Unit Learning Outcomes (ULOs);
1. Demonstrate a
oad understanding of the major conceptual and theoretical principles
upon which the practice of marketing is based.
2. Demonstrate a general understanding of marketing management tasks and of how
marketing fits into the organisational environment and interacts with diverse environments.
3. Identify and evaluate secondary research from a variety of sources. As a reflective and
critical thinker, use this research information to apply marketing concepts and principles
to propose ethical, creative solutions to a range of marketing related problems that arise in
usiness contexts.
4. Work effectively as an individual or a team member to communicate effectively whether
orally or in writing.
Assessment overview

Write your report as a group of independent consultants. Here, in Assignment 2 you are presenting
an Environment Analysis, Consumer Segmentation and marketing Research recommendations to
your clients; the Marketing Managers of Fitbit and their plan for a new children’s wearable
Assignment 2
You will use marketing theories and concepts appropriately.
You will find sources of information to justify the points you make.
Therefore, you will cite your References* and include a List of References as the last pages of
your report. * in-text referencing

Page 2 of 10


MKT10007 Assignment 2 Template + SP1 2018

Overview of Structure

1. Executive Summary (approx. 200 words) NOT INCLUDED IN WORD COUNT

a. the report’s major purpose,
. the analytical processes used,
c. the findings, and
d. Your recommendations.
2. Table of Contents

3. Introduction (approx. 150 words) Three parts are required here: -

a. The authorization and purpose of the report tells the reader who it was who commissioned
the work and why it is being produced.
. Limitations you encountered in relation to data collection, availability or access to
information and information that might be confidential in nature.
c. The scope of the report summarizes what the report covers, how information will be
presented, where the information comes from and how it was gathered.

Section 1: The marketplace and influencing factors (approx. 1,000 words)

In this section you will be considering the marketing environment in which the company operates and
analyse the factors which might influence the chosen Brand + Sub-Brand.


The Micro-environment;

4. What industry are we in? (approx. 400 words) (Refer to Lecture 3.)

At the beginning of any business report, state the scope (what will and won’t be covered) of the report,
efore presenting the analysis.

 Identify the industry within which the company and the Brand + Sub-Brand (Fitbit and the new
children’s wearable) compete.
 Include an illustration of how the company and Brand + Sub-Brand fits within the industry
5. Competitors Analysis (“C” for Competitors in SIP-CCC) (approx. 200 words) (Refer to
Lecture 3.)

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MKT10007 Assignment 2 Template + SP1 2018





#
Identify at least two key competitors and include a Product Comparison Table of the type shown
elow:-
P Our Brand +
Sub-Brand
Competitor 1 Competitor 2
Brand + Sub-Brand
Brand Positioning
Product Specifications
Place
Price
Promotion
Advantages & Disadvantages c/w
our Brand and Sub-Brand
Other factors important to
prospective buyers
Data was cu
ent as of (insert date).
Sources; (insert sources).
(Hint; you should expect to see that the Marketing Mix 4Ps for the competitors are very similar to
those for your Brand + Sub-Brand. This will demonstrate that these competitors are indeed in your
Strategic Group, because they will have the same or similar strategies to our Brand + Sub-Brand.
Therefore, also try to identify those things that differentiate the competitors.)
6. Analysis of other Micro-Environment players (approx. 150 words) (Refer to Lecture 3 slides.)

Identify one key player of importance to your product. This will be from amongst Suppliers,
Intermediaries, the Publics or internal Company factors. You will;
 Describe them and outline the role they play in relation to your company/ Brand + Sub-
and.
 Describe how they work with your company/ Brand + Sub-
and.
 Identify the key risks if the relationship between your company/ Brand + Sub-
and and this
player
oke down.
 Identify a way this player could be leveraged to provide your company/ Brand + Sub-
and with
an additional opportunity.

7. The Macro-environment; Other environmental factors influencing the company (approx. 250
words*) (Refer to Lecture 3.)

Provide an analysis of the three* macro-environment factors which you consider to be the most
important ones impacting upon your Brand + Sub-Brand. You need to cover the following:
 Describe any recent trends in these three areas that might impact your company/Brand and
Sub-Brand.
 Identify risks and opportunities these trends present for your Brand + Sub-
and.

 Recommend changes in strategy that counter the risks and take advantage of the
opportunities presented by these trends. Use a Table to present this information
 *” three” means three out of PEST. WITHIN each of these three you might mention several
trends; for example, within “E” for Economic there might be several relevant factors; such as
growing employment = more potential customers and rising discretionary income = ability to
spend more on your product category and/or spend more on more expensive alternatives
within your category

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MKT10007 Assignment 2 Template + SP1 2018

Section 2 Consumer segmentation (approx. 400 words)
Refer to Lecture 4
In this section, you will present your consumer segmentation analysis - how the consumers could
e split into smaller segments for the purposes of marketing. This will NOT be what the company is
doing now – it will be YOUR consumer segmentation analysis for the new children’s wearable.
In your report, you will provide the following information:
 You will select THREE- segmentation base and at least three profile elements that you believe
will be important things to know about the cu
ent and potential consumers in this product
category.
 Explain why you have chosen these bases and profile elements. Why are they useful for this
particular product category? Justify using the Criteria (Lecture 4
slides.)
 Include a Segmentation table containing at least three segments
and at least three profiling elements. For example, at least;
Segments Profiling element 1 Profiling element 2 Profiling element 3
Segment 1
Segment 2
Segment 3

Section 3 Assess the attractiveness of each consumer segment (approx. 300 words)
You will assess the attractiveness of each consumer segment for your Brand + Sub-Brand.
“Attractiveness” refers to the likelihood that a consumer segment will provide profitable sales for your
Brand + Sub-Brand. You will be measuring “How attractive is the segment as a market for the
Brand-and-Sub-
and?” – This is where you apply the Three Criteria – see below and Lecture 4
slides.
- NOT “How attractive (as a product to buy) is the Brand-and-Sub-
and from the point-of-view
of the consumers in this segment?”
Attractiveness is based upon the three factors;
1. Size and growth - a large, fast-growing, low-margin segment might be a good match to a strong
and
with abundant resources that can afford to target a low margin segment. On the other hand, a small
and with limited resources and the need to make profits in the short term would be better-matched
with a smaller, high-margin segment.
2. Structural attractiveness - Can we communicate with the consumers in this segment and deliver the
product to them? Does this segment already have strong, entrenched competitors?
3. The degree to which the segment matches the Brand + Sub-Brand’s resources and objectives -
Does the
and have substantial resources and very high sales and share objectives? If so then big,
fast-growing segments would be a good match. Or is it vice-versa?
 ONE Table,
 THREE SEGMENTS
 THREE Profiling elements

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MKT10007 Assignment 2 Template + SP1 2018

Section 4 Recommendations for additional research (approx. 500 words)
Refer to Lecture 5 and Tutorial 9.
After reviewing the information you collected in section 2, you will decide on what additional
information you would like to know to fill gaps in your knowledge about consumers.
What key questions do want answered:

 What information do you want to find out? What are the 3 - 4 key questions you
most want to answer.
 How would this information help you to make decisions regarding marketing
strategy. Be specific in describing these decisions and explaining how
Answered Same Day Apr 15, 2020 MKT10007 Swinburne University of Technology

Solution

Amar answered on Apr 24 2020
140 Votes
Running Header: Assignment 2: Environment Analysis, Consumer Segmentation & Market Research – Fitbit for Children         1
Assignment 2: Environment Analysis, Consumer Segmentation & Market Research – Fitbit for Children         12
Assignment 2: Environment Analysis, Consumer Segmentation & Market Research – Fitbit for Children

Executive Summary
Table of Contents
Executive Summary    2
Introduction    4
Section 1: The Marketplace & Influencing Factors    4
The Micro-Environment    4
Competitors Analysis    4
Analysis of Other Micro-Environment Players    4
The Macro-Environment    4
Section 2: Consumer Segmentation    4
Section 3: Assessment of Attractiveness of Each Consumer Segment    4
Section 4: Recommendation for Additional Research    4
Conclusion    4
Recommendations    4
References    4
Introduction
Section 1: The Marketplace & Influencing Factors
The Micro-Environment
The overall business environment with respect to marketing analysis concerns with the factors as well as forces which impact the ability of a firm in building as well as maintaining the successful form of customer relationships (Armstrong et al., 2015). In essence, the three different levels concerning this environment include the micro-Environment encompassing the smaller forces concerning this company which affects the overall ability for serving the customers, overall internal environment which could be effectively controlled, an though the same cannot influence the concerned external environment, and finally the macro-environment encompassing the larger set of societal forces which impact its micro-environment (Armstrong et al., 2015).
The overall scope of this section to present detailed micro-environment analysis with respect to Fitbit and its new
and product Fitbit for Children targeted at the consumer segment of children
Industry Assessment
The industry which shall be relevant and within which Fitbit and its new
and product Fitbit for Children targeted at the consumer segment of children operate concerns the wearable technology industry (Baalbaki et al., 2017; Dehghani & Dangelico, 2017; Telsyte, 2016; Fitbit Australia, 2018). This wearable technology which can be also be refe
ed to wearable computers, concerns the products that are worn by users for tracking their daily activities as well as enable the computing and the wireless networking (Baalbaki et al., 2017; Dehghani & Dangelico, 2017; Telsyte, 2016; Fitbit Australia, 2018). In essence, wearable could be over the manner of watches, smart fa
ics, glasses, smaller screens, contact lenses,
acelets and rings, devices akin to hearing aid, wrist computers, smart badges, etc. This wearable technology chiefly targets health and fitness, and other various healthcare / medical needs, infotainment, and other industrial applications (Baalbaki et al., 2017; Dehghani & Dangelico, 2017; Telsyte, 2016; Fitbit Australia, 2018). The experts in this industry expect that overall wearable technology industry offers significant market potential (Baalbaki et al., 2017; Dehghani & Dangelico, 2017; Telsyte, 2016; Fitbit Australia, 2018).
In essence, there seems to be two varied forms of the wearable bands, that is, the basic version of wearable band as...
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