Beautigloo Refrigerated Beauty Box: Assessment Answer

1IFDG

Task Description

The second assessment task 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 maximum in length excluding the title page and reference list.

Your task 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.

1. Beautigloo Refrigerated Beauty Box (viewed 8/06/2018)
2. Gravel Expeditioner Toiletry Bag (viewed 8/06/2018)
3. Tropic 4-in-1 sneaker (viewed 8/06/2018)
4. Unihertz Atom 4G Rugged Small Smartphone (viewed 8/06/2018)
5. 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 for approval.

NB: The option you choose will also be used in the Third Assessment task.

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, and customer needs (research evidence is expected to help support your discussion);
2. Analyse the current marketing environment in Australia, including relevant marketing strategies and innovative marketing approaches (e.g. digital and social media), and assess how this may affect consumer purchasing (research evidence is expected to help support your discussion); and
3. Conduct a strengths, weaknesses, opportunities and threats (SWOT) analysis for your new product.

Instructions

• This is an individual assessment (no groups).
• Whilst developing your portfolio it is expected that you share ideas and insights on the Moodle forums.
  
• Submit your portfolio online through the unit Moodle site.

Your portfolio should contain the following:

• A single Word document (no PDF) that addresses each of the 3 criteria listed above plus a reference list, using APA referencing style, showing use in-text of at least six (6) scholarly sources of information from a combination of academic journal articles, academic textbooks, trade journals and websites. Your prescribed textbook would be a seventh source of information.
• Use size 12 font with 1.5 line-spacing in this Word document.
• An appendix or appendices (this is compulsory) inserted 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.

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.