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MARK5813 STRATEGIC MARKET
ANALYSIS ~ PROJECT PLANNING
OVERVIEW
1. Project description and rationale
The Strategic Market Analysis is worth 40%. It is limited to 1600 words (not including any tables
or diagrams) and is due by 5pm Wed 5th April 2023. This assignment must be complete
progressively from Week 3, using the allocated time in tutorials to make group notes that will be
submitted to your tutor. The final copy must be consistent with the notes submitted to your tutor
(weekly), and submitted via Turnitin on the course Moodle site.
This task provides an opportunity to apply concepts covered in the course relating to new
product development. A systematic approach to this task is expected to provide opportunities for
deep thinking, creativity and high-quality work.
2. 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 new to the world innovation. You may use no specific brand, product, or service
discussed in a class case, minicase, or in a published teaching case.
1. Briefly describe the physical, operational, or functional characteristics (the features) of this
product or service. Then, describe the market for this new product or service in terms of its uses,
users, and situations predisposing its use; the perceived attributes and the benefits in use you
hypothesise to be associated with it; the likely variations in uses, use-situations and benefits
sought between different users or classes of users; the general features which would describe
likely users (e.g., the demographics, consumption styles, or lifestyles of consumers or the
organisational demographics of business users, etc.) and, finally, the potential or existing set of
substitutes and complements that the product or service faces (including tangible products in a
new service and intangible services in a new product). Explain and justify your answers with
argument and/or evidence.
2. Conduct a basic product market structure analysis for the new product or service using the
formal or informal techniques discussed in class/identified in given readings. Explain and
justify your answer with argument and evidence.
3. Discuss whether there is any potential for custom product or service design and/or user or
lead user involvement in the new product or service development process for the product or
service you have chosen. Explain and justify your answers with argument and evidence.
2
3. Additional requirements (planning, note taking, weekly progress)
Your choice of product will need to be approved by your tutor. Weekly notes should be created
based on the lecture material and readings and related directly to your chosen SMA product. The
notes must be submitted to your tutor (via submission link on Moodle) as evidence of working
systematically on your project. You must show SMA development notes in:
• Week 3
• Week 4
• Week 5
• Week 7
4. Affected parties
This is an individual assignment. You may share ideas and work collaboratively (e.g.,
brainstorming, critical review, etc.) with colleagues in the course, but each assignment must be
an original individual submission.
5. Specific exclusions from scope
Any already commercialized product is excluded from this SMA task.
6. Implementation plan
You must keep detailed notes regarding weekly content and how you have integrated it into your
SMA. Although you will only have covered upto Week 7 course materials, include a high-level
description of your implementation plan.
7. High-level timeline/schedule
From Week 3 to Week 7, You will be given approx. 30 minutes per tutorial to work on your
notes for this task. A copy of your SMA progress/weekly notes will need to be submitted to the
tutor to keep a record of your progress.
8. Assessment Evaluation / Marking
• 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 Document:
• Clarity of written expression and correctness of grammar and syntax.
• Organisation and logic of document.
• Use of evidence and proper documentation
Writing Requirements for Strategic Market Analysis
Limit the written analysis for the Strategic Market Analysis to 1600 words (not including
3
references, tables, figures or appendices). Use complete sentences and paragraphs. Use a proper
professional style. Correct all grammatical and spelling errors. Place any financial statements,
statistical analyses, tables, graphics, or diagrams in an appendix and refer to these in the body of
the text. Use appropriate (e.g., Journal of Marketing) reference style. Please double space in
twelve-point Times-New-Roman font throughout with adequate (2.5 cm) margins. Keep a copy
of all work submitted and keep your marked assignment. Submit a soft copy of the assignment
via Turnitin on Moodle.