Reference no: EM131956596 , Length: word count:2250
Instructions for Assessment - Research Project
Learning objectives: the CADDIE planning process of collecting and analyzing relevant information, designing and developing a business-marketing plan, implementing and evaluating the necessary marketing action plans is outlined
Scenario: You are now working at the boutique retail marketing consultancy - as a market researcher. Shaver Shop was founded in 1986 and grew to have 100 stores before conducting an initial public offering and listing on the Australian Stock Exchange on 1 July 2016. Since then they have had mixed results. The opening of Amazon's Australian operation may create concerns about the prospects for similar Australian retail businesses. In your report, you need to identify the COMP factors currently at play and those impacting the foreseeable future. This will mostly involve secondary research [i.e. utilising existing information sources] and also involve some degree of assumption where full information is not readily available. Fortunately, Shaver Shop is listed on the Australian Stock Exchange [ASX] so investor reports and presentations made by the company may provide a rich source of data.
Task: The consultancy has been commissioned to produce a report which involves analysing the situational factors related to the recently listed retail business Shaver Shop.
The 2250-word report will cover the COMP factors for Shaver Shop:
- Customer- including primary and secondary targets markets
- Organisation- the company's current competencies and deficiencies
- Market- the market conditions including key competitors
- Product- the current 'Total Product' offering made by Shaver Shop both online and in store
A SWOT matrix [strengths weaknesses, opportunities and threats] will then be developed and included in the conclusions section of the report.
Format: The submitted report should be Microsoft Word document 2250 words [10% tolerance] in length (excluding references, table of contents page, cover page and appendices). 12-point Arial or Times Roman Numeral font, 1.25 spacing. The report must be appropriately referenced and may include photographs, tables, diagrams, illustrations
1. Ensure you have read the Instructions and Marking Guide before beginning or you will waste time.
2. This assessment allows you to complete the collect & analyse steps of the CADDIE Planning Process by focusing on the COMP factors to be considered for a focal business.
3. The first step is to familiarise yourself with the focal business Shaver Shop by look at the material provided on Blackboard from a recent investor update presentation.
4. Next check on the Shaver Shop website to become more familiar with its history, product range etc. At the very bottom of this website you will find the heading 'Investors' if you enter this heading you will gain access to a wealth of information. In particular, go into 'Reports' to get the latest information. Often the 'Investor Presentation' slides are particularly relevant.
5. Of course, you will also need to consult other sources of information that may be relevant, consider: magazine articles, newspaper articles, YouTube videos, Google financials, online review sites etc. Don't underestimate the value of simply visiting one of the Shaver Shop stores to see things for yourself.
6. In helping you arrive at the primary and secondary target markets for Shaver Shop some information may be on available on the company's website; you may also need to make your own assumptions to make these target markets even more specific.
7. From undertaking the above research, you should be able to form a view about Shaver Shop's competencies [what it does well] and deficiencies [what it doesn't do well].
8. In analysing the current market conditions, you may need to conduct an environmental scan looking for factors in the external environment that may influence the Shaver Shop business. This also calls on you to fully analyse Shaver Shop's key competitors [ensure you include Amazon's impending entry into the Australian market here].
9. Your SWOT Matrix represents a summary of the Strengths & Weakness and Opportunities & Threats already identified. The SW component is internally focussed and thus will involve a dot point summary of what appeared in the competencies & deficiencies section.
The OT [Opportunities & Threats] component is externally focussed and will summarise the current external market conditions. Both of these may be influenced by the key competitor analysis.
10. The current 'Total Product' offering of Shaver Shop needs to cover what Shaver Shop offers customer in-store and online [treat these two offerings separately]. You need to consider all of the product components- goods, services, people, ideas, places, experiences. Also consider where they may be offering an 'augmented product' [see product layers]. Try to be as thorough as you can in describing the current product offering.
11. Ensure that your referencing is in accordance with APA. Students should demonstrate the quality of their study through quality in-text and end-text referencing. Those seeking higher marks (Distinctions and High Distinctions) need to not only utilise the e-book The Marketing Concept but also research beyond this into various academic journal articles and texts. The e-book and around 4 other academic references (texts or Journal articles) would start to raise the standard of depth required for higher grades (of course the number is not the only criteria and the references need to be relevant and used appropriately).
12. Try to finish two days early - thus allowing you to fine tune and thereby earn a higher grade. Proof read your work before submitting your assessment.
Attachment:- Assignment Files.rar