Bsbmg501ab Marketing

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Welcome to BSBMKG501B - Identify and evaluate marketing opportunities Activity 1 14/02/2015 01:22PM • A small stationery shop recorded its diary sales for the years 2007 to 2011 in two tables provided here. • 1 What further information would you need to analyse information on market and business needs to identify marketing opportunities? customer requirements, competitor performance, comparative market information Geographic - Social class - Loyalty status • 2 What trends are revealed by the diary sales data? the units sold are decreasing. • 3 What trends are revealed by the percentage by age group data? 31-50 age bracket are the target audience. Technology effects under 30's the most as they tend to do everything…show more content…
For Example teenage students may have the same interest in goods as university students. Starting these marketing opportunities together can be cost effective by using similar marketing campaigns. The revenue expected from the new markets will exceed the initial cost of increasing old inventory and ordering new inventory. More staff will be needed for the store, as the current market segments do most of their ordering in bulk and online. Benefit Profit and new customers in the store and the ability to purchase more so add on sales. The new markets will not decrease profits in current market segments as they will not directly affect them. Risks Research has showed the organisation that there is a lack of stationary supplies directed at teenage students and university students. A lot of the stationary goods on the market are either very childish or too professional. Entering the young children market could be riskier then the other two marketing opportunities. However, when parents take their kids to buy stationary goods, they want to be able to buy everything in the one store, this makes entering the young children market essential to the success of the other new market segments. • 3 Write a report which summarises your analyses and assesses the financial viability of each opportunity. Upload your answer for
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