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market segmentation and targeting marketingIn this section, your discussion should focus on determining what (who) will be the target market within the chosen country (CHINA)
• Identify how you intend to segment the target market and the rationale for choosing specific segmentation variables/bases e.g., demographic, geographic, psychographic.
• It is advisable to use a combination of factors to identify potential segments within the market
• Please note it is not necessary to use every segmentation variable/base. Once again, Tables for analysis are recommended.
• From your analysis of potential segments you must identify one (1) segment as your target market
• Clearly indicate the size of the potential marketUnder no circumstances are students to contact the organisation for information.
Overview
Under no circumstances are students to contact the organisation for information.
Overview
market segmentation and targeting marketingIn this section, your discussion should focus on determining what (who) will be the target market within the chosen country (CHINA)
• Identify how you intend to segment the target market and the rationale for choosing specific segmentation variables/bases e.g., demographic, geographic, psychographic.
• It is advisable to use a combination of factors to identify potential segments within the market
• Please note it is not necessary to use every segmentation variable/base. Once again, Tables for analysis are recommended.
• From your analysis of potential segments you must identify one (1) segment as your target market
• Clearly indicate the size of the potential market
Under no circumstances are students to contact the organisation for information.
Overview
Since 2005, OOSCC has been dedicated to serving customers the finest local skin care products made from natural, organic ingredients. The core ingredient is olive oil. OOSCC was established in the Hunter Valley in NSW by Stephen Balogh and his wife, Julie. OOSCCinitially created Olive Oil soap to fulfill the needs of people (including herself) suffering from skin conditions such as eczema, psoriasis and other sensitive skin conditions. The products are manufactured using an ancient method originating in the Spanish region of Castile. All the products are certified organic which is an important selling point for OOSCC.
OOSCChas evolved from its early beginnings as a cottage industry to selling online to a global market. In Australia, its products are available in pharmacies, organic product stores and health food stores. The next step in its expansion is to gain a market presence in international markets.
The Philosophy of the Brand – to share the exceptional benefits ofolive oil for the skin.
The Aim of the Brand – to nourish your skin naturally
OOSCC continues to rely heavily on word-of-mouth (WOM) from past and current customers and social media tools (e.g., Facebook) to create brand awareness and brand recognition.
Your task:
Your research group of three (3) students has been appointed by OOSCC to investigate, analyse and report on opportunities that exist in a SINGLE overseas market (country). You may choose any market (country) in the world, which you consider as having potential for marketingOOSCC’s skin care range. Please note, in the first assignment you are required to assess three (3) potential markets (countries) before deciding on the one (1) market you intend to enter.
Your ultimate goal is to bring incremental sales to the organisation in your chosen overseas market. From a marketing perspective, you are requiredto develop a comprehensive international marketingplan to assist in the attracting new customers in your chosen target market and increase OOSCC’s brand awareness.
Assignment 1: Market Attractiveness
This assignment should include:
1. Title page (Not included in the official word count)
§ Project title;
§ All group member’s names, student ID numbers and % contribution (See Below)
Please copy and paste the following table on the title page of your report.
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Group Number:
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First name and Surname
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Student Id
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Sections contributed to and completed
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% Effort contributed – the base is 100
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If all students made an equal contribution, then everyone scores 100. The contribution effort must be discussed as a team.
The contribution effort percentage allocated may be used to adjust final marks
2. Complete a Market Attractiveness Assessment (Screening) (750-1000 words)
In this section, your discussion should focus on country screening:
§ Identify three (3) potential countries (markets) for OOSCC to enter
In your brief, assess the following factors:
§ Compare and contrast each country on important internal and external factors.
§ Internal factors include, for example, the OOSCC marketing mix, international experience, resources (strengths and weaknesses)
§ External factors include legal, political, cultural, economic, demographic (opportunities and threats).
§ You need to focus on analysing the factors in terms of the strengths and weaknesses of OOSCC (assumptions can be made); and opportunities and threats that may affect OOSCC’s(positively and negatively) entry into each market. Recognise that all factors are not weighted equally in terms of impact and importance and your judgment is required
§ Consider the competitive environment – direct and indirect
§ Evaluate the growth potential for OOSCC’s product line in each market (statistics are required)
§ Your analysis is dependent on a deep understanding of the OOSCC company (i.e. consider their capabilities and resources, product fit based on your analysis of secondary research sources)
§ Use Tables, graphs and pie charts for analysis where appropriate
3. Identify One (1) Target Country (Market) for OOSCC to enter
In this section:
§ After the screening of the three (3) countries is completed, select one(1) country you propose OOSCC should enter
4. Reference List NOT included in the word count.
References cited in the report only should be included. Marks are awarded based on depth and scope of research.
References need to be formatted according to Harvard referencing method. See Deakin Handbook for referencing guidelines.
Assignment 2 Requirements
This assignment should include:
1. Title page (Not included in the official word count)
§ Project title;
§ All group member’s names, student ID numbers and % contribution (See Below)
Please copy and paste the following table on the title page of your report.
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Group Number:
|
|||
|
First name and Surname
|
Student Id
|
Sections contributed to and completed
|
% Effort contributed – the base is 100
|
If all students made an equal contribution, then everyone scores 100. The contribution effort must be discussed as a team.
The contribution effort percentage allocated may be used to adjust final marks
2. Introduction (approx. 500 words) * You can adjust the word limit for each section – these are guidelines only
In this section, your discussion should:
§ Provide an overview of the current Australian marketplace OOSCC operates within – include OOSSC’s current market position within Australia, its strengths and weaknesses
§ Providea brief summary of your rationale from Assignment 1 of your chosen market (country). Please ensure you read the comments provided by the marker and make any necessary amendments.
3. Market Segmentation and Target Marketing (approx. 1000 words)
In this section, your discussion should focus on determining what (who) will be the target market within the chosen country
§ Identify how you intend to segment the target market and the rationale for choosing specific segmentation variables/bases e.g., demographic, geographic, psychographic.
§ It is advisable to use a combination of factors to identify potential segments within the market
§ Please note it is not necessary to use every segmentation variable/base. Once again, Tables for analysis are recommended.
§ From your analysis of potential segments you must identify one (1) segment as your target market
§ Clearly indicate the size of the potential market
4. Market Entry and Expansion Strategies (short and long term) (Approx. 1000 words)
In this section, your discussion should:
§ Recommend market entry strategies for the expansion of OOSCC into the chosen destination country. When choosing your market entry strategies, please keep in mind the type of product/services/offer, your target market and the external environment of the chosen country. For example, some countries have strict policies regarding joint ventures, acquisitions and greenfield operations.
§ It is advisable to provide entry strategies appropriate for both the short and long term and justify your choice of entry strategy. Specifically, you need to identify at least one strategy to initially enter the market and another strategy for future expansion
§ Possible market entry strategies include: Exporting, Licensing, Franchising, Joint ventures/partnership arrangements, Strategic alliances, Acquisition, Greenfield operation etc
5. International Marketing Mix (Approximately 1200 words)
The following factors should be discussed and your marketing strategy recommendations should be supported by relevant secondary sources of evidence. In this section, you should attempt to analyse whether you can standardise the product/services or will it be necessary to adapt to local needs and wants.
Please ensure you understand the buyer-behaviour and media habits of your chosen target market when developing your marketing mix strategies. Rationale must be provided for all strategies.
You are able to use the current product line or develop new products for your chosen target market (if desired). For example you may wish to develop a product line for men.
In this section, you will need to consider:
§ How would you positionthe OOSCC (brand) in the target market? Think about developing a perceptual or positioning map to illustrate your strategy.
§ Do you need to modifyOOSCC products/services/offer in any way for this target market? Please note you can develop new products for your specific target market
§ How would you develop a promotional mix (public relations and publicity may also be included) to your target market? Please take into consideration both strategy and tactics. Please note. In relation to the promotional mix, there are quite a few tools which can be used e.g., in-store promotions (please do not over-use), digital and social media campaigns, merchandising, PR, loyalty programs, events, etc. Traditional advertising; specifically television, cinema, outdoor or print advertising may also be used.
§ What are your pricingobjectives and strategies for OOSCC’s products?
§ How would you distributeyour OOSCC products/services/offer to your target market? What relationship marketing tactics would you use?
6. Conclusion(Approx. 300 words)
Outline your major findings and recommendations.
7. Reference list (Not a bibliography) NOT included in the word count.
References cited in the report only should be included. Marks are awarded based on depth and scope of research. Again, your references need to be formatted according to Harvard Referencing Method. Please see the Deakin Handbook for guidelines as to the correct referencing style.
8. Appendices(Not included in the word count)
Appendices should include supporting evidence only. Tables and graphs which are important to the discussion should be placed in the body of the report. If you use appendices please ensure they are numbered and referred to within the report.
The word limit is between 3500 and 4000. Each section has an approximate word count. This is set at the upper limit.
Individual Reflections (Each individual reflection approx. 1 page)
Each member will reflect on what has been learned through the assignment and experience of working in a group. Reflections should cover the following:
· Learning objectives and outcomes – what did you hope to learn? Did you achieve this learning outcome? (e.g., improvement of analytical knowledge, research expertise, international perspective of issues, cross cultural understanding, understanding and application of international theory and practice etc.)?
· Group dynamics – How well did the group work together, did the team encounter any problems and if so, how were these problems overcome? What was your contribution to group dynamics and interactions?
· What do you believe is the value of inter-cultural learning?
A separate drop box will be available for individual submission of the reflections
Report Format:
· Please note this is a report, not an essay i.e., numbered headings and sub-headings throughout the report compulsory.
· Please use 12 font size Arial or Times New Roman, 1.5 spaced, and 2.5 cm margins
· Number the text pages
· Please do not embed images or documents into the document file because this creates problems with URL links and can cause documents we receive to be incomplete. If you embed images into your documents, you must manually remove all hyper-links from the document before submitting electronically.
· Being a report, academic referencing is required throughout and needs to adhere to the Harvard Referencing style.