BSB52415 Diploma of Marketing and Communication Sample Assignment
Details of Subject
BSB52415 Diploma of Marketing and Communication
Details of Unit(s) of competency
Unit Code (s) and Names
BSBMKG501 Identify and evaluate marketing opportunities
BSBMKG507 Interpret market trends and development
BSBDES602 Research global design trends
PART 1: MARKETING OPPORTUNITIES
CORE Units of Competency:
BSBMKG501 Identify and evaluate marketing opportunities
BSBMKG507 Interpret market trends and development
A. Marketing Opportunities. Identify all viable marketing opportunities for the company using Ansoff Matrix. Apply and explain the following growth strategies to Zara - market penetration, product development, diversification and market development, which focuses on global market.
Following the Ansoff Matrix strategy, we can identify some important strands that can be used to justify the growth in Zara's marketing strategies. In the development of the market for the existing products, we can mention the marketing campaigns that Zara has invested, that happen to put up the products that already have been created, but they need disclosure. The diversification of new and existing products, in market penetration, a major advantage and factor that leverages Zara's sales lies mainly in the difference between creating a new product or focusing on existing products. In the development of the product Zara has a methodology very different from others so the collections do not follow the same fashion line of other brands. This makes Zara always have customers looking for their unique trend. In the diversification of the products and services of Zara we can speak of large scale, because it is very big and diversified. In the market development we speak of a huge development. The marketing team always looks for new places to roll out new stores where the market can possibly grow.
B. Market Description. List 3 potential global markets for your market development strategy. Describe the total market of the 3 potential global markets. Use graphs, charts for visual presentation. Provide the sources of information. (3 marks)
The graph above can show the growth and sales movement of the textile industry in recent years, from a perspective up to 2020. We can note that the textile market has grown excessively year after year, from 2013 to 2020. This growth is mainly due because of some places in the world that consume the most and help boost these sales. In addition to the trends in marketing campaigns in conventional stores, from 2013 to 2020 we can also see the exaggerated growth in online sales growth. Currently, 10% of the world sales are through the online market, which has come to change and revolutionize the market in several aspects. It shows how important could be the Zara marketing campaigns in the online marketing.
C. Selected Global Market. Select 1 global market for market development strategy. Justify your answer why you have chosen this global market over the 2 other global markets. List the main reasons why you have not chosen the 2 other global markets. (2 marks)
The market that I choose is the largest global market: the Asian market. The influence of Zara in this market is not that strong as it is in America and Europe for example. I chose this market because it was simply the biggest and fastest growing market lately and Zara has a big chance to dive deeper around this part of the globe. It has contributed to the economy of the countries to these great strategies. The first reason I choose this market is that with all the new market trends (such as healthy recreation as a necessity of Asians' life), millions of new ideas explode in the market, causing growth is really considerable, for example in the area of sports, (according to this example). The second important reason to highlight is the reason of taking the luxury trends to the most accessible brands, and can be accessed financially by other lower classes.
D. Trends and Developments. Analyse trends and developments of the selected global markets using PESTEL Analysis for potential impact on the business. (12 marks)
Based on the ZARA trends developments and the insertion of ZARA in the Asian Market studied in the question above:
P = Political - The main political factor is the opening up of international trade in Asia.
E = Economic - The main economic factor is in the consumer's search for quality, and not only for the brand. This generates a significant increase in prices and, consequently, in corporate income.
S = Social - Asia has most of the older population and only a small percentage of young people, this shows the care that must be taken with the implementation of companies, fashions and international trends.
T = Technological - Technology can influence the ability to serve the public (talking about the distribution system).
L = Legal - All the above factors can influence the legal factors of the location in question, causing new laws to take effect due to new external influences.
Not only Asia, but all other continents are undergoing a phase of understanding of all environmental factors and how this can impact the economy, so how can this influence sales and marketing strategies across all industries of the sector.
E. Quality Standards. Upon implementation of this market development strategy, explain how you can ensure that continued quality of products and services are met to existing customers in Australia and the global market. Research which national standards body is responsible for the chosen global market and identify other organisational requirements. (2 marks)
For the quality and the maintenance of the products in question in the quality requirements, =, it is necessary that the products also meet the standards of health and safety within Australia to be sent an insertion wherever ZARA planned overseas. Also, is going to be extremely necessary to be within the safety rules of the country to be sent ZARA products. Through www.productsafety.gov.au ,the safety of the product need to be analysed within the following requirements: (composition, contents, methods of manufacture or processing, design, construction, finish and packaging/labelling).
F. Key Competitors. Analyse the key competitors on the global market. Have a detailed comparison of the marketing mix – products, place, price and promotion of two major competitors. Use a table to plot and interpret data for visual presentation (features, prices, and others).
The two main competitors analysed are:
ASOS and H&M
ASOS is a British clothing and beauty store.
The Marketing: About ASOS marketing, the brand created a promotion/program of advocates that gave access to unique content and unique opportunities to a portion of selected members. These members started sharing brand content and even creating new content in a totally voluntary way, without receiving money for it. An example of content created voluntarily by fans was posts on Instagram using the brand hashtag. (we can see that the marketing of defenders can bring many benefits to the company, since it empowers the public, bringing many positive consequences for the appearance of the brand in the market. This is automatically reflected in the financial market.
The products: Primarily aimed at young adults, Asos sells more than 850 brands, as well as its own line of clothing and accessories.
H&M is a Swedish multinational fashion company present in 41 countries with more than 3000 stores.
The Marketing: Basically, H & M Marketing calls attention to the brand and builds empathy, ensuring that the world knows that H & M is a vibrant, inviting and fun brand. All marketing is a part of the store experience and is intended to guide and inspire customers to find the right fashion products both in-store and online. At
H & M's marketing activities follow the practice of advertising by the responsible agency in each country;
G. Resource Requirements. Estimate and explain 3 required resources for changes in operation and implementation of market development strategy. (6 marks)
1- Strategic planning: Planning will need to be strategically planned so that all as standards are within the expectations of the consumer, especially in the marketing campaigns.
2- Personnel management: It will be necessary a differentiated training for the training of even the team that direct to the process, because it is necessary to understand a little of the local culture to elaborate the marketing plans to be successful.
3- Human Resources: It is necessary to be aware of all aspects of human resources in the country where the brand is located. In Asia, there are several very different labour laws in Europe and America, for example.
H. Communication to Key Stakeholders. Draft a formal business email to your key stakeholders communicating the viability of making changes to current operations and implementation of market development strategy. (2 marks)
I am written this email in order to inform all of you that we are going to have a big expansion of our brand. This is just one more goal that we are reaching out during our great year of 2017.
We are proud to inform that the plan of introduction of our brand in some countries in Asia that already don’t know us was successful approved. But we still need to make change in our operational system in order to attend the respective country expectation. We have studied many different markets writing many countries and we figured out some countries can offer exactly what we are looking for.
That’s why you are all invited to join our annual seminar about the chances and marketing campaigns of the end of the year. You are all welcome to come with new ideas and researches.
I. Over Performing and Underperforming Products: Visit Westfield Sydney Central Plaza and conduct a qualitative research. Identify one over-performing product and one under-performing product. Explain why it is necessary to identify these over-performing and under-performing products. (2 marks)
The Marketing strategy can be found from analysing products with excessive performance and from others with poor performance. According to my research at Westfield Sydney the underperforming products are bedding and bath products in the best areas of feminine / masculine clothing (forever 21, H & M, Zara, ect) and products with exaggerated performance are like summer clothing on sale, as it has arrived this season.
PART 2: GLOBAL DESIGN TRENDS
ELECTIVE Unit of Competency:
BSBDES602 Research global design trends
J. Research Strategies. Identify formal and informal research strategies that Zara uses to source information on global design trends. (2 marks)
Zara research strategy uses the case study, and is not a tactic of data collection, it is a strategy, used Normally when the central problem of research and reference to the questioning of the how and why of a certain phenomenon, or either when the purpose of the research is to delve into a specific phenomenon and try to explain it.
This research strategy intends to study a specific case of Zara company to respond to the next research problem: How does a Zara structure its marketing strategy? In this sense, it is possible to perceive the objective of the research on the analysis of Zara's marketing strategy as a way to give an answer to the problematic in question. The case study is based on varied sources of information.
Also, if Zara is supposed to create new products, it is necessary a huge branch of information in the researches. It is necessary to study the stores around the whole world and think about the season changes.
K. Alternative Sources of Information. Identify and explore new and alternative sources of information. Explain how you evaluate the credibility of information. (2 marks)
The alternative sources can be collected and analysed, and even corroborate with evidence from other sources and added useful information for research. If it is done in an individual case, can be considered limited because the sample is restricting, that’s why is important to attach other source of information to the alternative one: to understand how the alternative source can be useful and important.
L. Identifying Opportunities. Suggest 1 strategy on how Zara can proactively identify design trends opportunities. (1 mark)
My suggestion is an analysis research within the stores and Web pages of the competitors. This way Zara could easily figure out what is going on within the other brands and take some ideas. Zara has marketing strategies that make it seemingly competitive
in the field in which it operates. Then there is the interest in understanding how these strategies are related to the success and the remarkable growth of the company and this. My suggestion is in a marketing survey at exactly that point.
M. Product Design. From the information gathered, design one piece of clothing using your own creativity, perspective and way of thinking. Provide the image of this piece of clothing. (3 marks)
Please, find an attachment at the end
N. Critical Analysis. Explain the commercial opportunity, implications and consequences of this design trend of your product. (3 marks)
My product is a more "behaved" and demure social outfit, which shows neither arms nor shoulders. It can be sold in Asia and acquired by various cultures. The income makes it a very fine piece. The commercial opportunity of this piece is mainly in Asia, where the culture demands more closed clothes. The implication of this product may be the sale of the same in other territories. The consequences may even be of a new trend outside the Asian continent.
O. Feedback. Get feedback from peers and colleagues on your designed piece of clothing. Document the discussions and critical analysis of your product and ideas on global design trends. (2 marks)
Segundo os comentários e análises que tive na minha peça de roupa, ela tem uma tendência muito mais asiática do que europeia, porém, ela pode ser facilmente introduzida em qualquer outro país durante o inverno.
P. Re-evaluation. Based on peers’ and colleagues’ feedback, what improvements will you apply to your proposed piece of clothing? (2 marks)
Second, an assessment of colleagues, since it is not a fabric, rather than velvet, which is a heavy fabric and can only be worn in winter, a question can be asked with silk, which is lighter and can be worn summer.