The reports have to be about women’s wear market in the UK. The report has 4 sections: 1. section A- Desk research results • Provide a brief explanation on your selected market (2 paragraph max). • Using the PESTEL framework provides a comprehensive analysis of external situations of the market. • Provide a list of the competing brands. Try to be as detailed as possible (e.g., market share estimation, pricing strategies, etc.) • Note: for this section, you can use company websites, reliable Internet sources, published academic papers, and other reliable sources such as Office of National Statistics (ONS) or those that I listed in the lecture slide (you might only get a free trial version). Make sure to properly cite the sources 2. Section B- Field research: interviews with actual or potential consumers (min of 7 interviews, aim at 10 mins or more for each interview). In this section include the following items: • Briefly explain what you have done How did you find informants? How many interviews you have conducted? How did you make sure you count for variety in the market? r Provide a summary table that includes the length and location of each interview, whether it was an actual vs. potential consumer, and a basic demographic profile of the interviewee. • Include your interview protocol–i.e., the list of questions 3. Section C- Segmentation results • Briefly explain the segments that you have identified in the market (justify similarities and differences and assign names accordingly) Provide your segmentation table (see examples in week 2&3 lecture slides). This table should include all segments, the name that you have assigned for each segment, demographic and lifestyle values for each segment, and an indication of different brands/types of products used by each segment. Provide a brief explanation for each segment (one short paragraph for each segment), explaining in your words a typical persona for each segment (include lifestyle and demographic information here). Use relevant quotations from your interview as evidence (i.e., use exactly what they said not your own interpretation). 4. Section D- focus on one brand In this section, students are asked to choose one brand within the market that they segmented and evaluate their chosen brand on two elements: pricing strategy and branding strategy. Section D-A: analysis of pricing strategy: Students are not asked to DO the pricing but rather give an overall overview of the type of pricing strategy(s) that the brand is using. For example, penetration pricing, price skimming, premium pricing, bundle pricing, freemium pricing, etc. All these methods are explained in the class. After an explanation of the current pricing strategy, students will outline their own evaluation of these strategies and their recommendations for improvement (roughly one paragraph). In cases that the company is doing a fairly good job, students can state that and then justify why they think the current strategy(s) are good. Section D-B: analysis of branding strategies. During the lectures, students will be introduced to 3 branding strategies. In this section, students are required to explain which one of these strategy(s) their selected brand is using (bear in mind that a combination of strategies might be used). Students can refer to examples from the online or print advertisements, promotion campaigns, and product types that the company is offering to back their arguments. After an explanation of the current branding strategy(s), students will outline their own evaluation of these strategies and their recommendations for improvement (roughly one paragraph). *** Referencing: in section A and D students should use reliable academic (e.g., published papers) and non-academic (e.g., news reports, company websites, reliable surveys are done by private organizations) sources (e.g., Wikipedia is not acceptable). Please use the correct form of referencing for each source. Pay special attention to referencing websites. For other sections, there is no need for citing external sources. *** Word limit: 3,000 (+10% is acceptable). Word limit includes tables that you create (segmentation table and informants profile table). Other tables and diagrams that are used as a piece of supporting evidence can be placed in the appendix section at the end. FAQ: 1. Can it be a service market? Yes, 2. Can it be a B2B market? Yes, both B2C and B2B market is acceptable. Make sure to use the right terminology for each 3. Can it be outside the UK market? No, the product market must be the UK–i.e., your customers are in the UK. You are, however, allowed to choose a growing market that is currently outside the UK but is entering the UK market. Again, your target customers are in the UK!
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