MKTG313: Strategic Marketing and Planning Report - Management Assignment Help

Assignment Task:

Task:

Purpose
The purpose of this assessment is to assist you to learn how to undertake a situation analysis in a specified product category, by drawing on a number of business and analytical tools. Secondly, the feedback from this assessment would assist you to structure your Assessment 2.

Context
Assume that you are the Chief Marketing Officer of Heat Biologics, a pharmaceutical company that is planning to launch a new over the counter (OTC) multivitamin drug that increases the immune system to prevent people from contracting infectious diseases, including Covid-19. You are required to develop a sound market analysis for top management to convince them that there are, indeed, very favourable conditions for the launch of this new product within the Australian market.
 

Instructions
As the Chief Marketing Officer of Heat Biologics, write a market analysis report showing why this new OTC drug would be a perfect addition to your current products. In your report explain why you believe the macroeconomic factors within the country provide ideal conditions in the marketplace for your new product to thrive in the market, taking into consideration the current stage of the Covid-19 pandemic. Ensure that your analysis could be utilized in your subsequent assessments. Do not forget to use only recent references (1 to 5 years).

Structure
1. Introduction
Briefly provide a background information on your company and explain the purpose of the report.
2. Macroenvironmental analysis
a. PESTEL: analyse all of the important forces (in some cases some of the PESTEL forces could be less relevant. It is for you to decide which forces are essential in the industry of your new product).
The purpose of this analysis is to understand what OPPORTUNITIES and THREATS are in the market and how they would impact your venture (200 words)
b. Industry analysis: Industry Life Cycle, 5 Forces Analysis (you need to arrive at a conclusion as to whether the industry is profitable or not. Address Competitor Analysis and any Strategic Group analysis; (300 words)

c. Customer analysis: Analyse the target segment’s benefits from buying your product. Examine the following areas:

i. do target consumers have a real need for your product?
ii. does your offering provide a unique value proposition for the target consumer, i.e., other product propositions do not really satisfy the customer need?
iii. is the target market sufficiently large and/or growing to provide you with a critical mass of sales?

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