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MARK3091 Strategic Market Analysis – Project Proposal (40%)

Project description and rationale

The Strategic Market Analysis is worth 40% of the course grade, consisting of a 10%

presentation and a 30% written proposal. This is an individual assessment that requires

comprehensive analysis, critical thinking, and evidence-based reasoning. The written report is

limited to 1500 words, excluding tables and diagrams, and must incorporate relevant course

concepts.

Submission deadline

Week 8, presentation in tutorial AND written submission via Turnitin.

Project scope

First, create a fictitious new product or service concept (that does not currently exist in any

marketplace). This new product or service can be for either consumer use or business use. It does

need not be a radical (new to the world) innovation.

Structure your report in the following sections:

A. Product/Service Description and Target Market Analysis

a) Briefly describe the physical, operational, or functional characteristics (the features) of this

product or service.

b) Analyse the market for this new product or service in terms of:

i) Uses, target users, and planned usage situations.

ii) Perceived attributes and associated benefits in-use.

iii) Likely variations in uses, use-situations, and benefits sought between different users

or classes of users.

iv) General features describing likely users (e.g., demographics, consumption styles,

lifestyles of consumers, organizational demographics of business users).

v) Potential or existing substitutes and complements the product or service faces.

Explain and justify your analysis with arguments and evidence.

B. Product Market Structure Analysis

Conduct a basic product market structure analysis for the new product or service using the

techniques discussed in class. Explain and justify your answer with clear arguments and

evidence.

C. Customisation or Lead User Involvement

Discuss the potential for custom product or service design and/or user or lead user

involvement in the new product or service development process. Explain and justify

your analysis with arguments and evidence.

Assessment Evaluation / Marking

Presentation: Create a 2-minute elevator pitch that highlights the key elements of your project.

Focus on the most important features of your new product and the core insights from your

market analysis. Your goal is to quickly capture interest and demonstrate the product’s viability.

2

Report: In 1500 words, focus on providing justification and context for your new product. Focus

on:

Explanation of the product or service concept and justification of the market description

Quality of product market structure analysis

Explanation and justification in favour or against potential for custom product or service

design and/or lead user involvement in development process

Overall, you should pay attention to:

1. Depth and rigor of market analysis

2. Clarity and coherence of argumentation

3. Use of evidence to support analysis

4. Application of strategic concepts discussed in class (you must show meaningful links to

course material/discussion)

5. Overall presentation and professionalism

Refer to the marking guideline for further information.