Question:
The purpose of Assessment 2 is to analyse the barriers associated with entering a market and the ways in which these can be overcome. You will have to create a slide deck based on the Slide Deck Template under the assessment table of no more than 15-20 slides addressing the below question. You then have to write a transcript to support these slides in the notes section of the Slide Deck. You can submit the Slide Deck with the notes through TurnItIn.
Using your own business / business idea or another start-up or early stage company, identify three markets to enter. These markets could include entering into a new industry; for example, your technology that was developed for the tourism industry that can be used for the sport industry. You could also consider entering into a new state or country as well as a new demographic.
Here are some basic guidelines for the submission:
• Introduction: Give a brief background of what the slide deck is about and also give a background about the business. • Market Opportunity Analysis o For each opportunity, share the market research to justify why you have considered entering into the new market • Market Opportunity Barriers o Highlight the key barriers for each of the opportunities that you may face when entering into that market. • How to Overcome the Barriers o For each of the new market opportunities, identify 2-3 strategies that you could use to overcome the barriers of entering into the particular market. • Conclusion / Summary
Assessment Marking Rubric Criteria F (Fail) 0%-49% P (Pass) 50%-64% CR (Credit) 65%-74% D (Distinction) 75% – 84% HD (High Distinction) 85%-100% Mark Assessment Content (Subject Specific) OUT OF 80 MARKS Introduction / Conclusion Introduction / Conclusion was not included.
Introduction / Conclusion was vague. Introduction / Conclusion covered basic background and overview paper. Very good introduction with clear background and overview. Strong conclusion. Excellent introduction with clear and thorough overview. Excellent conclusion. / 20
Market #1 Opportunity / Barriers / Strategies No identification of opportunity, barriers, and strategies. Vague identification of opportunity, barriers, and strategies though some strategies not realistic. Good identification of opportunity, barriers, and strategies. More depth needed. Very good identification of opportunity, barriers, and strategies. Relevant strategies. Excellent identification of opportunity, barriers, and strategies. Very thorough analysis with justifications. / 30
Market #2 Opportunity / Barriers / Strategies No identification of opportunity, barriers, and strategies. Vague identification of opportunity, barriers, and strategies though some strategies not realistic. Good identification of opportunity, barriers, and strategies. More depth needed. Very good identification of opportunity, barriers, and strategies. Relevant strategies. Excellent identification of opportunity, barriers, and strategies. Very thorough analysis with justifications. / 30
Market #3 Opportunity / Barriers / Strategies No identification of opportunity, barriers, and strategies. Vague identification of opportunity, barriers, and strategies though some strategies not realistic. Good identification of opportunity, barriers, and strategies. More depth needed. Very good identification of opportunity, barriers, and strategies. Relevant strategies. Excellent identification of opportunity, barriers, and strategies. Very thorough analysis with justifications. / 30
Structure Format and Presentation (Consistent across all courses) OUT OF 20 MARKS Answer clearly and logically presented Writing style is unclear; lacks logical flow and structure Writing style lacks some clarity; some flaws in logical flow and structure Writing style is mostly clear; Generally logical flow and structure Answer presented mostly clear and logical Answer presented very clear and logical.
2 Appropriate theory and research used to answer question posed Inappropriate and outdated theory and research used Adequate theory and research used; Some research dated. Met minimum standards, Good theory and research used. Current. Could have had more in-depth research. Very good and in-depth theory and research used; current and thorough. Excellent and current theory and research used; Depth of research exceeded expectations.
4 Correct academic writing style used, including correct spelling, grammar and punctuation Non-academic writing style, lacks clarity and has no flow. No structure. Many spelling and grammatical errors. Writing style is non-academic though is clear; minor flow and structure issues. Spelling/ grammatical errors. Academic writing style is clear; good flow, some structure issues. Some spelling or grammatical errors. Clear academic writing style with very good flow and structure. Minor spelling or grammatical errors. Academic writing style is very clear with sound flow and structure. No spelling or grammatical errors.
4 Format of answer consistent with question requirements and KBS guidelines Format of answer does not follow KBS guidelines of the question requirements Format of answer adequately meets question requirements; KBS guidelines inconsistent Format of answer meets question requirements and KBS guidelines; some errors Format of answer consistent with question requirements & KBS guidelines; a couple of errors Format of answer exceeds question requirements and KBS guidelines; no errors.
4 In-text referencing and reference list follows Harvard style and consistent with KBS guidelines None or very few sources are acknowledged. Does not follow Harvard style nor KBS guidelines.
(0) Acknowledged few sources in text and reference list. Few citations and references follow Harvard style. KBS guidelines rarely adhered to.
(1) Acknowledged some sources in text and reference list. Inconsistent use of Harvard style. Some KBS guidelines adhered to.
(2) Acknowledged most sources in text and reference list. Most citations and references follow Harvard style. Most KBS guidelines adhered to.
(3) Acknowledged all sources in text and reference list. All citations and references follow Harvard style. All KBS guidelines adhered to.
(4) / 4 Word count is within + / – 10% of requirement Word count is within + / – 30% of requirement (0) Word count is within +/- 25% of requirement (.5) Word count is within + / – 20% of requirement (1) Word count is within + / – 15% of requirement (1.5) Word count is within + / – 10% of requirement (2) / 2 Comments: /100
Answer:
- The power point presentation is based on the analyses of the barriers that are associated with the entering a market. Along with this, it includes the ways that will help the company to overcome those barriers.
Overview of the company
- The company that has been selected is Crowd Delivery which is a new start-up in Brisbane, Queensland, Australia.
- The team of the crowd delivery is highly driven by solid foundations in the tech, multimedia, sales, and accounting.
Employees of company
- The company was founded by Warwick Cox in 2015 with 12 employees in begin. Along with this, the company falls under the Food and Beverage industry.
Objective of company
- The objective of the company is to become the primary On-demand delivery service for the groceries across Australia and the world. This reflects that the company is willing to expand the business.
- The company offers an opportunity to every person to access to home delivery services for groceries and alcohol on demand.
Market Opportunity #1
- The market that has been selected for the expansion of the business in New South Wales states of Australia.
- According to the report from Nielsen, the online grocery market is expected to reach $2 billion in Australia in the coming 5 years.
- Supermarket and Grocery store is continued to maintain the vast majority in the market at just more than 60% then the other markets of café, restaurants, liquor, food retailing and many other.
Barriers
The company finds numerous barriers in the market. Some of them are given below: –
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Competition- There is many supermarket and grocery stores are available that are offering good products at low prices to the customers due to which people like to visit the stores.
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Changing demands of the customers- The demands of the customers are changing in Australia as they are willing to buy more of the healthy products instead of grocery products.
Ways to Overcome
- The company should start providing the healthy products to the customers on demand for which they need to tie-ups with the suppliers.
- This will helps the company to make it different from its competitors and to meet the needs of the customers who are looking for healthy products.
- Market Opportunity #2
The company has the opportunity in Victoria, states of south-eastern Australia in Melbourne city as the state is the most densely populated state.
- The company will be able to generate the high revenue due to the high population in the state.
- This is the fact that the Food and Beverage industry of Australia is increasing with the revenue accounted to US$279m in the year 2018.
Barriers
- The major barrier faced by the company is changing the lifestyle of the people in the market of Australia. People like to visit the place where they can buy everything under one roof (Departmental stores).
- Another barrier that the company will face is the nearby grocery stores that provide the home delivery to customers.
Ways to overcome
- Promotion of the company and their service is an effective way to generate awareness about services with the help of sales team.
- Crowd delivery should add more products that they can offer to their customers.
- The company should provide the products at the affordable prices.
- Market Opportunity #3
- The grocery market has grown in New Zealand as it is expected to achieve the value growth at constant prices with CAGR of 3% in 2016.
- In the country, it has the vast opportunity as the county has a diverse multicultural population of 4.33 million people. The preferable city of the country is Auckland with population 1.4 million.
The major barriers of the company in the market of New Zealand are: –
- Political factors of the country
- Multicultural population with diversified needs
- The company should adopt the diversification strategy that helps them in satisfying the needs of the customers.
Along with this, the company should appoint political consultant before entering into the market of New Zealand
Conclusion
- In the end, it can be concluded that the company has the vast opportunity in the states of Australia and also across the border of Australia.
- Moreover, the company also has an opportunity in other potential markets where they can spend their business.
References
- Bassanini, A. and Brunello, G. (2011) Barriers to entry, deregulation and workplace training: A theoretical model with evidence from Europe. European Economic Review, 55(8), pp.1152-1176.
Burmaster, A. (2009) Opportunities Abound For Online Grocers [Online]. Available from:
Crowd delivery (2018) Crowd delivery [Online]. Available from:
Euromonitor International (2016) Grocery Retailers in New Zealand [Online]. Available from
FMCG (2017) Online grocery market set for massive growth [Online]. Available from
- Geroski, P.G. and Jacquemin, A. (2013) Barriers to entry and strategic competition. New York: Routledge.
Global Agricultural information network (2009) New Zealand Report [Online]. Available from
Global Agricultural information network (2017) Australia Report [Online]. Available from
Holderness, A. (2017) 100 Australian Tech Companies to Watch in 2018 [Online]. Available from:
Karakaya, F. and Parayitam, S. (2018) Market entry barriers and firm performance: higher-order quadratic interaction effects of capital requirements and firm
- competence. International Journal of Markets and Business Systems, 3(2), pp.121-140.Klinger, B. and Lederman, D. (2011) Export discoveries, diversification and barriers to entry. Economic Systems, 35(1), pp.64-83.
- Statista (2018) Food & Beverages [Online]. Available from.
