Purpose and aims:
This assessment is designed to apply the knowledge and skills developed by the students to evaluating the external and internal environment in which new product is to be realised and defining strategies appropriate to its realisation. The business concept relates to a new product relevant to the company which forms the overarching focus of the learning activities of this section of the subject. In this assignment, the student is expected to analyse the external and internal environments (SWOT), identify a relevant strategy(S-0, W-O etc.), identify and describe a target market, and develop a suitable new product for the company to introduce for this target market.
Description of assessment:
Choose a company from the list of companies provided (see table below choices are not limited to the list provided).Each student is then required to conduct a SWOT analysis, identifying the internal strengths and weaknesses and external opportunities and threats of the company. The goal of a SWOT analysis is to identify the critical factors that may affect your proposed business concept (or new product) and then build on your strengths to reduce your weaknesses, exploit opportunities and avoid potential threats. Students are also expected Identify and describe using segmenting variables, one target market being served by your company.
LIST OF COMPANIES
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Company Name
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Collins Foods Group(KFC and Sizzler)
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Competitive Foods Australia(has KFC in WA and NT, Hungry Jacks-nationwide)
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Domino's Pizza Enterprises
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McDonald's Australia Holdings
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Quick Service Restaurants(Red Rooster, Chicken Treat, Oporto)
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Retail Food Group Crust Pizza, Donut King, Brumby's Bakery, Michel's Patisserie etc
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Retail Zoo Salsa's and Boost Juice
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Subway Systems Australia
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Yum! Restaurants Australia(KFC and Pizza Hut)
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INDIVIDUAL REPORT
Marketing Plan-Individual Written Report
Approaching the task:
What do you need to do? Look at the task words
Evaluate the external and internal environment in which the business concept (or new product) is to be realised
Define strategies appropriate to its realisation. The business concept relates to a new product relevant to the case which forms the overarching focus of the learning activities of this section of the subject.
Briefly analyse the external and internal environments (SWOT)
Identify a relevant strength, opportunity
Identify and describe a target market
Develop a suitable new product for the company to introduce for this target market.
Activity
Evaluate the external and internal environment in which the business concept (or new product) is to be realised
- Being aware of the internal & external environment will help you to focus your product on what is needed.
Define strategies appropriate to its realisation. The business concept relates to a new product relevant to the case which forms the overarching focus of the learning activities of this section of the subject.
- What do you need to do to produce the product?
Briefly analyse the external and internal environments (SWOT)
- Brainstorm all the factors that might help or harm your product
Identify a relevant strength, opportunity
- Think about not just your product, but the market into which it will go. What does the market want or need?
Identify and describe a target market
- How detailed is your description? The more closely you can identify your target consumer/s, the better
Develop a suitable new product for the company to introduce for this target market.
- Brainstorm possibilities for a new product. Then combine all the above elements to clearly define the product