Natalia Gregory has a degree in chemistry and is a qualified naturopath. She has inherited a substantial amount of money and intends to create a herbal based range of creams to alleviate muscle pain, especially after sport. These creams have a pleasant flower smell and may appeal especially to woman; she is also considering providing a more masculine smell for men. These will be sold to pharmacies and gift shops nationally.
You need to cover the following areas:
Size of the total industry (number of competitors, size, location, turnover, production, sales, employment)
Factors of the uncontrollable environment that impact on the industry
b) Major competitors (market shares, importers, local production, and position of company in comparison to competitors)
c) Trends in the industry (government policy, technological developments, major price points)
d) Consumer behaviour trends (trends in purchasing/trends in behaviour patterns, changes in preferences, trends in distribution)
f) Target markets (industrial/consumer, size, composition, characteristics, how can the market be segmented? What are the segmentation variables?)- Try to quantify the size of your target market, ABS quick stats will be useful here and we will explore this during the lectures, tutorials and the workshop.
e) Other factors that impact on the industry.
Your tutor will judge you on:
a) The extent and quality of your research – the quantity, variety and quality of sources used (e.g. ABS, government websites, newspaper articles, magazine articles, reports from consultant groups like KPMG, PWC, government reports, industry lobby groups, data bases like MINT). Generic links will be provided on Moodle but you will have to undertake your own online research as well. You also will be given instructions on how to use the MINT database. Using Wikipedia or the company’s website as the major source of information is not considered appropriate for University study.
b) Use of appropriate reference conventions (A link to how to reference properly will be provided on Moodle).
c) Critical analysis and evaluation of the sources used
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