Assignment task: As a marketing manager for James Boag Brewery, develop a new product for the Australian market and decide "how new is new". For instance, is the product going to be:
(New to the world, new product lines, or additions to existing product lines, or revisions/improvements to existing products, or repositioning, or a lower-cost version?
(Focus on goods only)
The report should include the following sections
1. Executive Summary - provides an overview of the report so the reader can quickly grasp what the objectives, main findings, and recommendations are. Executive Summary should include information about the business, the objectives of the report, and a summary of the key findings from the situational analysis and SWOT analysis, before briefly discussing the product concept.
2. Table of Contents - provides some direction for the reader
3. Introduction - identify the subject matter of the report, its assumptions, the context, as well as the objectives/purpose of the report.
4. Situational Analysis - provides background data on the market, the product, competition, distribution, industry, and macro environment.
5. Market Analysis - focuses on the product-market. What are the current demand trends in the product-market? Have buying patterns changed over the past few years in this product-market?
What is the size of the product-market? What changes have taken place in the product-market?
6. Competitor Analysis - Who are the competitors? What do they offer? How competitive is the industry? Is the company the market leader or only a small player? How are different competitors positioned?
7. Macro-environmental Analysis - identify relevant macro-environmental factors. What aspects of the PESTE or DESTEP analysis to focus on? What are the consumer trends? Could government legislation affect the marketing of the product? Do you need to monitor special interest groups that could potentially affect one business? What is being reported in the media (this must be pertinent to the product idea)? Can the infrastructure in Australia support this product idea?
Consider the Porter's Five Forces model, i.e., the threat of new entrants, the bargaining power of customers/suppliers, and the threat of substitutes
8. SWOT Analysis - Identify your strengths, weaknesses, opportunities and threat. Consider the likely impact of the opportunities and threats.
9. Target Market - Describe the target market segment(s). How large is it? Why have one selected it (justification)?
Use appropriate segmenting bases, e.g., demographics, and/or geographic, or lifestyle, etc
10. Recommendations - What strategy will one adopt? Provide some justifications. Describe the product idea. Discuss why the product idea will be successful. Use the key findings in report to support recommendations.
11. Provide reference List