Posted: December 2nd, 2014

Situation analysis

Situation analysis

Assessment 3 Part 1 Situation Analysis Template
•    Student name
•    Student ID
Chosen topic – In one sentence outline which topic you have chosen.

Introduction

Industry Overview
Examining the industry including the industry size, location, production, sales volume, employment, and success factors based on research evidence.

Trends in the industry
You may exam recent changes in the industry such as changes to product portfolio, prices, distribution channel, or promotion strategy and so on based on research evidence.

Factors of uncontrollable environment
PESTEL analysis: Analysing uncontrollable factors that impact on the industry including political force, economic force, sociocultural force, technological force, and legal force.

•    Political forces (page 55-56)
Examine the relevant political forces affecting or potentially affecting the organisation. Political factors require considerations of political stability, government policy, trade agreements, and taxation arrangement. The specific political forces most relevant to your organisation will vary depending on if your business is domestic or international in nature.

•    Economic forces (page 57)
Describe the macro-environmental economic forces that influence the organisation and the market. For example, you may discuss the impact of interest rates, economic growth, consumer confidence, income levels, saving levels, the availability of credit, unemployment levels and exchange rate. These are suggested considerations. You may choose factors that are relevant to your industry to discuss.

•    Sociocultural forces (page 57)
Describe the sociocultural force in the organisation’s market. Social and cultural forces that may influence the organisation include religion, subcultures, multiculturalism, beliefs, attitudes and population trends. Organisations operating internationally may face various sociocultural forces in each of their country-specific markets.

•    Technological forces (page 58)
Consider how technology can be used to offer better value to customers. This should include an examination of how technology may support innovation across various aspects of the marketing mix. Technological change offers significant opportunities and threats and should be examined based on research evidence.

•    Legal forces (page 59)
Identify legal and regulatory forces that govern many aspects of an organisation. Legal force include legislation in place locally such as the Trade Practices Act as well as international conventions and agreements.

Competitor analysis (page 52-53)
Examine the micro-environmental competition factors including the type of competition (e.g. pure, monopolistic, oligopoly, monopoly, and monopsony) and competition at each level (e.g. total budget, generic, product, and brand). You need to exam the major competition in the industry in Australia wide and competition situation in ACT based on your research evidence.

1.    Who are your competitors?
2.    How are they different or similar to you in terms of size, location, ownership, etc?
3.    What is their competitive advantages?
4.    What is your competitive advantage compared to major/direct competitors? (E.g. access to finance resources, skilled employees, location, and so on.)
5.    How effective is your competitive advantage? You may discuss the following aspects:
•    Service quality, positioning, resources, location, and growth potential.

SWOT analysis (page 67-69)

Strengths
The organisation’s favourable internal characteristics such as competitive advantages and core competencies. Remember, strengths are the factors that the organisation can directly influence.     Weaknesses
Attributes of the organisation that hinder it in trying to achieve its objectives. These are unfavourable internal characteristics. Remember, the weaknesses are factors that the organisation can directly influence.
Opportunities
External factors that are potentially favourable to the organisation. Opportunities are external to the organisation and are not directly controllable by the organisation.     Threats
External factors that are potentially unfavourable to the organisation. Threats are not directly controllable by the organisation.

Target markets (Chapter 6)
Identify your chosen target segment in ACT based on your understanding of the competition. You may address consumer size, and composition and how can the market be segmented, and what the segmentation variables are.) – ABS quick stats is helpful in quantifying the size of your target market.

It is important that the description of the target market/segment is as specific as possible. For example, if it has been determined that the target market is urban 25-30-year-old single males, this needs to be what is stated, as opposed to a more general description such as ‘young single men’. You need specify the size of the target market such as how many 25-30-year-old single males are in Belconnen based on ABS data.

Information on how to effectively segment markets is introduced in Chapter 6.

Trends in consumer/clients behaviours
Identify trends in purchasing patterns, product/service preferences and so on based on research evidence.

Reference list
Full in-text reference and reference list are required. You may use APA or Harvard referencing style.

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