BSBMKG541: You are advised to complete this section of your marketing plan last. You might include a brief overview of your products: Evaluate Marketing Opportunities Assignment, FU, Australia
| University | Flinders University |
| Subject | BSBMKG541: Evaluate Marketing Opportunities |
Summary
You are advised to complete this section of your marketing plan last. You might include a brief overview of your products and/or services, target market, competitive advantage, and anticipated sales, profits, and market share.
Market Analysis
- Political: Identify any political and legal factors that may affect your business. Is your industry highly regulated or is it under the government radar? What impact does regulation have on the industry and success of your business?
- Economic: What are some of the economic factors that may affect your business? For example, unemployment rates, exchange rates, availability of labor.
- Social: What are some of the social and cultural factors that may affect your business? For example, aging society, education levels, residential trends.
- Technology: What are some of the technological factors that may affect your business? For example, growth in e-commerce, internet access, and emerging digital technologies.
Market Segmentation
- Geographical: Outline how your customers can be segmented based on their location. For example by suburb location, metropolitan vs regional, interstate, and overseas.
- Demographics: Age, gender, education level, income, occupation, etc.
- Behavioral: Loyalty, attitude, readiness to buy, usage rates, etc.
- Lifestyle: Social class, personality, personal values.
Market Research Findings
What statistical information have you reviewed to help you understand the market? If you have surveyed potential customers, competitors, or suppliers, provide a summary of your results.
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