Hong Kong Retail Market Analysis & Product Development
Order Description
Critically analyse HK retail market, identify the different segments and develop a product aimed at one segment of the market. The word limit is 2500 excluding appendices, but including any quotes. It’s essential that marketing theory is linked to practical application in this assignment.
1. External analysis 40%: Conduct an external analysis of current HK retail market.
-Define the market
-Examine the marketing environment
-Conduct a competitive analysis
-Conduct a customer analysis this should include primary data collection(e.g. a survey of 20 ppl)
2. Marketing segmentation 20%. From the external analysis of HK retail market identify different segments that exist (need to include marketing theory)
3. New product development & positioning 40%: Position a new retail FMCG product (be specific, e.g. type of retail outlet, selling what? where? what is the USP? Why would target market visit your store?) in a particular segment of market identified above. Clearly describe this market and the position you hope to achieve in the minds of customers. In other words, present a positioning statement.Discuss the 7p’s you would adopt to achieve your desired position in the retail market. Place include mockups of store design,branding, products promotion campaign or advertisement you like.
note for the writer: If you have no idea on what FMGC product to write. I have some idea. I’m thinking to write anything about e-commerce so that u don’t have to think about store location and store design. Or something that sells in the supermarket. In HK, we don’t have food delivery service to your door (like https://www.22daysnutrition.com) like that in the states. Office workers like me eat outside everyday. I don’t have time to cook but i also want some home cooked meal. And i’m vegan, that makes my choice very limited here. They don’t sell vegan cheesecake or vegan burgers in the grocery store here. So the idea of creating a new vegan product to sell in supermarket can also be an option of this assignment.
