summary report of your progress and plan (up to 5 pages) is required in
class. address the assessment criteria, paying particular attention to section 4. Market 5
Action Plan. These account for 60% of the available marks.
You cannot write a credible project plan without going out and making contact with
the outside world. Your project plan must undergo a series of 'external reality checks'.
Your research should be carefully planned. Your plan should focus on the external
market information that you think you will need, your rationale and how you propose to
get that information. You should consider the following question: 'What business
decisions do we need to make and what information do we need in order to make
these decisions. '
You should consider some or all of the following information sources:
a) Background literature search using internal publications, industry journals, Internet
searches, online database searches, books, newspaper, published market research
reports and other sources.
b) Face-to-face interviews with people in the value chain, industry experts current or
potential customers, competitors and suppliers.
c) Respondents to a mail, face to face or telephone survey, or focus group
participants.
The final results and analysis of your market research should be embodied within the
Project Plan that will be submitted at the end of the semester. Within this plan, include a
short appendix on the research methodology, the information sources used, and the
results obtained. The market research component of your project plan will provide the
foundation that your plan is built upon. It is your opportunity to test assumptions and
conclusions. Be careful to consider the balance of your final report. The plan that you
submit must be a complete marketing plan, not a research report.