Assignment One
Semester 2, 2020 Teaching Approach The class is run in asynchronous mode. There are no scheduled class times/nothing in Allocate. You will be assigned to a workshop. There are 6 workshops for this unit. The workshop is where you will; • Post your weekly activity • Post a response to other students work • Be assigned to a group for assignment 2 • Interact with your tutors • Engage in zoom consultation There is no unit outline. Monash is now shifting the broad information about the unit to the handbook - https://handbook.monash.edu/2020/units/MKF2801. This is still being developed and will be fully operational in 2021. In the meantime, see below Our teaching approach at its most fundamental is to enhance your skills across the 4Cs – critical thinking, creative problem solving, communication and collaboration. We want you to move from simply putting information on a page as part of “answering” an assignment task to thinking through the implications of what you are putting a page and the value of it to a decision maker. Information alone is of limited value. Your task is to convert it to something of value to the decision maker. Semester 2 2020 Assessment Assessment Task Value Due Date Online Quizzes 10% Prior to your allocated weekly workshop activity (quiz closes 5:00pm Sunday) Workshop activity/Discussion Forum 10% Thursday 5:00pm of week of activity Macro Analysis Report - Individual 30% 5:00pm Friday, Week 5 Industry/Market Analysis Report - Group 30% 5:00pm Friday, Week 12 Insight & Recommendations Report 20% 5:00pm Friday, Week 13 Semester 2 2020 Teaching Schedule Week Topic Task Topic detail Assessment 1 Unit Introduction Review of Moodle content Defining Marketing Insights. Trends vs Forecasts. Secondary research methods. Credible Sources Practice Workshop Quiz 2 2 Markets & Industries Pre Class Lesson, Readings & Quiz Market & Industry Definitions, Types & Descriptors. Categories and Segments. Pre Workshop Quiz 3 Macro Environments - Part One Pre Class Lesson, Readings & Quiz PESTLE (and variations) Pre Workshop Quiz 4 Macro Environments - Part Two Pre Class Lesson, Readings & Quiz PESTLE Pre Workshop Quiz 5 Industry Analysis - Structure & Nature of Competition Pre Class Lesson, Readings & Quiz ILC, Trends, Attractiveness. Pre Workshop Quiz Assignment One 6 Competitor Analysis - Defining the Competitive Set Pre Class Lesson, Readings & Quiz Levels of Competition, Strategic Group Mapping, Competitor Classifications. Pre Workshop Quiz 7 Competitor Analysis - Tools & Sources Pre Class Lesson, Readings & Quiz Differential Competitor Advantage Analysis. Value Chains. Pre Workshop Quiz 8 Collaborators - Supply Side/Demand Side Pre Class Lesson, Readings & Quiz Structural elements. Collaborator Network Mapping, Pre Workshop Quiz 9 Collaborators – Omni-Channel Pre Class Lesson, Readings & Quiz Omni-channel mapping. Distintermediation & Reintermediation Pre Workshop Quiz 10 Customer Markets Pre Class Lesson, Readings & Quiz 6Ws analysis Diffusion of Innovation analysis Calculating market size Pre Workshop Quiz 11 Customer Segments Pre Class Lesson, Readings & Quiz Lifestyle analysis Analysing driver of demand – value Market profile / buyer persona Pre Workshop Quiz 12 KSFs & Futures Pre Class Lesson, Readings & Quiz Critical (Key) Success Factors. Futures Cone Model Pre Workshop Quiz Assignment 2 13 Assignment 3 3 Assignment "Consulting" Brief S2 2020 Here's the 'client brief' for your three assignments. Your small consulting firm has been approached by a New Zealand start-up company, Halter, that is planning to launch new domestic pet wearable technology in Australia. Background Health and wellness monitoring devices are not just for humans. Growing awareness about pets' physical and mental health is driving demand for wellness data on animals, while GPS tracking devices are becoming increasingly popular. Why it's growing: Australian pet care spending in 2019 reached a record high of A$12.2 billion, according to Animal Medicines Australia Barriers to entry: Since it's still a nascent industry, the barriers to entry are low relative to many other consumer electronics categories. The downside: Wearables represent just a small segment of the overall pet care category. Other products competing for consumers' dollars include beds, collars, leashes, toys, travel items, clothing and other accessories. Competition: Whistle and FitBark focus on dog health and location trackers, while Garmin and Motorola offer a variety of products that aid in dog tracking and training. Look inside the pet wearables industry: Pet Wearables Are a Thing Now. Meet the Company That Wants to Collect Your Dog's Data Also see - https://au.pcmag.com/pet-trackers/48390/the-best-pet-trackers-and-gps-dog-collars-for- 2020 http://www.petproductnews.com/News/5-Pet-Tech-Companies-Showcasing-Their-Wares-at-CES/ Halter wishes to bring a new product to market that combines tracking, activity, calorie expenditure and heart rate variability analysis for pets. The design is unique in that it does not require close skin contact to provide a range of technical data on the health and well-being of the pet. Information is transmitted via Bluetooth to smartphone application. 4 You are analysing the AUSTRALIAN industry/market. If you include data or information from outside Australia you MUST provide a logical explanation as to the relevance of the data/information to the Australian industry/market. Always write a report that addresses the needs of the client. Any business considering entry to a new industry/market will ask questions such as; • Has there been growth or decline in revenue over past 5 years? • What is the volatility/stability in revenue over time (minimum 5 years)? • What are the macro factors that influence the revenue of the industry? o Has there been any changes in the factors over the past five years that has changed their influence on revenue? What will happen in the future? o Are all of the macro factors of equal importance or a some more important than others in terms of revenue? Will this be the same in the future? • What do we need to pay most attention to in relation to competitors and why? • What are the current patterns in supply/demand chain and are there any opportunities/ challenges do we need to be aware of and why? • What are the current patterns in consumer behaviour and are there any opportunities/ challenges do we need to be aware of and why? The quality of the questions you ask in developing your analysis will determine the value of your analysis to the client. The quality of your analysis; logic, structure, research, communication (prose and visualisation) determine the strength of your grade. Think carefully about what you are trying to communicate and why. The focus of all the reports is on analysis not just on information/research. Your analysis must create value for the client relative to their needs. 5 You are graded based on the assumption that you know how to write a business report. The coordinator and all the tutors are business practitioners so the expectation is that you are communicating in a style that is appropriate and relevant to business. If you do not know how to write a business report, see the resources on Moodle. The focus of all the reports is on analysis not just on information/research. Your analysis must create value for the client relative to their needs. Mechanics for all assignments • Include graphs, tables, diagrams (all labelled). If information can be communicated more effectively (makes it easier for the reader to understand) in one of these forms, do it. o Warning – if there is no logical reason for information displayed in one of these forms, it will not attract marks. For example, creating a large table that has no discernible purpose to the reader – does not add value. • Graphs, tables, diagrams must be followed by analysis; tell the reader what you want them to see/notice/understand. • Logic is the key. Do not simply provide information. Your analysis must be supported by a logical, evidenced based argument. o Precede or follow any information with statements such as; “What can be noted from the above/below is…. The implication for a new entrant in the domestic pet wearable technology industry/market is….” • Headings and sub headings – descriptive not functional • Font: 11 point, Sans-serif, e,g, Arial, Calibri, Helvetica (What’s the difference between Serif and Sans-serif fonts? http://www.scribe.com.au/tip-w017.html) • Spacing:1.2 to 1.4 line spacing (makes it easier to read). 6 points after paragraph. Please note: Words limits are a "limit", not a "goal". In the real world, it's critical that your business plans, proposals and reports are clear and succinct. No “+10%” on word limit. Be succinct in writing. Not counted in word count: • Title page • Executive Summary • Labels on diagrams and graphs • In text references • Reference list. Words in tables are included in your word count. A cover sheet is no longer required but you must check the submission statement check box when submitting. PDF only. Penalties may apply. APA reference format is required for both reports - find more detailed information here. Don't be late! A penalty of 10 percent of the available marks for this report will be deducted for each day (or part thereof) that the assessment is late. 6 Assignment One Value: 30% Length 2,000 Words (no + 10%). Type Individual – Business report (see Moodle resources) Due Date Friday week 5. No later than 17:00 Submission Moodle – don’t forget to check submission statement File protocol .pdf ONLY Create a MACRO environmental analysis as it relates to the Australian pet wearable micro environment. Structure • Title page: Name, ID. Tutorial day/time. Word count • NO Executive Summary for this report. • A brief overview/definition of the broader industry/micro environment o MUST include map (visualise) and description all the various components/parts/sectors/ participants that make up the broader micro environment. • Analysis of each the MACRO factors related to this industry o explain the implications of these factors for the micro environment o note if the factors are or equal importance or if some are more important than others. Explain your logic. • Reference list