Uncovering market insights, or forecasting trends, requires a range of professional communication, styling, presentation and management skills, as well as innovative approaches to research and forecasting activity. This project is aimed at enabling you with the ability to identify, document, analyse and evaluate
This project is aimed at enabling you with the ability to identify, document, analyse and evaluate marketing insights and apply this to make recommendations to a business.
The setting: You have been approached by a start-up children’s fashion retailer looking to open a boutique in Melbourne. The retailer is looking to disrupt the industry and have some ideas about developing a strong social cause and building a consumer loyalty program that rewards the end consumer (child) as opposed to the customer (parent).
You will need to analyse the current Melbourne market
Determine where you would suggest the store locate, providing a clear rationale as well as any pros and cons
Ascertain any supporting evidence from any secondary data sources (i.e. ABS data on household consumption of geographic information)
You could conduct your own primary research (which may be as simple as mapping current store location and spread in certain suburbs or something else from the research toolkit we have discussed)
Provide a view of ‘where the retail category is now’, drawing on historical data (i.e. market, ABS, industry data)
Provide a view of where the retail category is likely to move between now and the next 3 years (drawing on data from insight/ trend resources, i.e. LSN Global)
Criteria for marking: Your presentation should help us all to understand the opportunities VR strategies and how a brand can apply VR moving into a new era of engaging, innovative and vibrant retail.