{"taskDescription":"Identifying Target Market, Customers and Competitors","pagesList":[{"params":{"elementList":[{"params":{"decorative":false,"contentName":"Image","expandImage":"Expand Image","minimizeImage":"Minimize Image","file":{"path":"images\/file-6736960a4ed99.jpg","mime":"image\/jpeg","copyright":{"license":"U"},"width":2500,"height":1536}},"library":"H5P.Image 1.1","metadata":{"contentType":"Image","license":"U","title":"Untitled Image"},"subContentId":"b77e2f11-1559-438d-80d6-f7bd5cb4eb68"},{"params":{"text":"

Now it\u2019s time to nail down exactly who your product or service will be aimed at and to identify who your competitors might be in conducting a Target Market, Customer and Competitor Analysis. At the end of the exercise you can save and download your work so you can refer to it later and in your assessment.<\/p>\n"},"library":"H5P.Text 1.1","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"},"subContentId":"d6164da4-37f8-4e04-b174-3c39542a7ce3"}],"helpTextLabel":"More information","helpText":""},"library":"H5P.StandardPage 1.5","metadata":{"contentType":"Standard page","license":"U","title":"Instructions"},"subContentId":"e1566ecb-ca85-4a92-b0d4-a6c8f5a739b0"},{"params":{"elementList":[{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

Begin by identifying the specific target market for your product or service, considering demographic, geographic, psychographic and behavioural factors.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"8659b010-726c-4f45-b33c-e7b8b92dd6b7"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"

What are the age, gender, income level, education and occupations of your target market?<\/p>\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"91e1be3c-9f02-43a5-b75b-4c42224a407f"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"

Where is your target market located? How mobile is the market? Is your product relevant locally, nationally or globally?<\/p>\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"29ff83eb-1e00-4376-82b7-541c42a88541"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

What are the lifestyle, interests and values of your target market? How do these influence their purchasing decisions?<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"9206ae6d-1c9b-4b66-8a71-c1a7724a5db1"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"

What are the purchasing habits, product usage and brand loyalty associated with your target market?<\/p>\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"4871b76a-afbf-43c2-81d8-b759a39d8906"}],"helpTextLabel":"More information","helpText":""},"library":"H5P.StandardPage 1.5","metadata":{"contentType":"Standard page","license":"U","title":"Target Market Analysis"},"subContentId":"1ccbbe1b-7d61-4107-a8e2-925295fd964c"},{"params":{"elementList":[{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

Identify your potential customers within your target market. Understand their needs, preferences and behaviours which will influence their decision to purchase your product or service.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"2f27d409-e273-4b0c-a396-1c55d36a07a9"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

What specific needs or problems does your product or service address for your customers?<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"ce1b0bdb-8efe-4c30-b92d-1a7ceb6bb880"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

What are your customers looking for in a product or service? Consider quality, price, convenience, and any other relevant factors.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"86b6866b-2177-46c5-a481-6f69a4db3f38"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

How do your customers typically make purchasing decisions? Are they influenced by online reviews, word-of-mouth, price comparisons, or other factors?<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"85eaf927-a149-42e8-89a6-d3838ae6a300"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"

Can you segment your customers into distinct groups based on similar characteristics or needs? If so, describe these segments.<\/p>\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"ee1cdb96-bc40-442a-b624-937475115bbb"}],"helpTextLabel":"More information","helpText":""},"library":"H5P.StandardPage 1.5","metadata":{"contentType":"Standard page","license":"U","title":"Customer Analysis"},"subContentId":"8acdf60d-d62e-46ef-95dd-9fbc02b2d6ff"},{"params":{"elementList":[{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

Analyse the competitive landscape by identifying your main competitors. Evaluate their strengths, weaknesses, and market position relative to your proposed product or service.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"04c90617-efd0-4528-809d-ce1c7b13e14f"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

Who are the main competitors in your market? Include both direct and indirect competitors.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"87c6cb60-1208-4eea-af66-89fc47ba80cf"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

What are the key strengths and weaknesses of each competitor? Consider factors such as product quality, pricing, customer service, brand reputation, and market share.<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"5bb7004a-7ab5-419d-ae3f-6346de74cf65"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"\n\n\t\n\t\t\n\t\t\t\n\t\t\t

What marketing strategies do your competitors use? How do they attract and retain customers?<\/p>\n\t\t\t\n\t\t\n\t\n\n\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"79534dab-fb9b-4a57-a09b-1999d56c5b05"},{"params":{"inputFieldSize":"3","requiredField":false,"remainingChars":"Remaining characters: @chars","taskDescription":"

How is each competitor positioned in the market? Are they leaders, challengers, followers, or niche players?<\/p>\n"},"library":"H5P.TextInputField 1.2","metadata":{"contentType":"Text input field editor element","license":"U"},"subContentId":"d1a2c173-36aa-4e2f-85f8-6cfb808491f0"}],"helpTextLabel":"More information","helpText":""},"library":"H5P.StandardPage 1.5","metadata":{"contentType":"Standard page","license":"U","title":"Competitor Analysis"},"subContentId":"c6cf7db6-1eb8-45c4-b5b0-f62c325ad362"},{"params":{"description":"

Click on the Create document to save your responses in a downloadable file.<\/p>\n","createDocumentLabel":"Create document","submitTextLabel":"Submit","submitSuccessTextLabel":"Your report was submitted successfully!","selectAllTextLabel":"Select","exportTextLabel":"Export","helpTextLabel":"More information","requiresInputErrorMessage":"The following pages contain required fields that need to be filled in order to review or submit this document: @pages","helpText":""},"library":"H5P.DocumentExportPage 1.5","metadata":{"contentType":"Document Export Page","license":"U","title":"Save your responses"},"subContentId":"91f40bd5-fa81-40bb-91cc-9fa451ec8e19"}],"i10n":{"previousLabel":"Previous documentation step","nextLabel":"Next documentation step","closeLabel":"Close"}}

NZMA- Hospitality-LVL6- M3- 3.1