Vista - SFU TEMPLATE - Module 4 (Model answer)

Preparation Task (10 minutes)

Research Task (30 minutes)

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Analysis Task (30 minutes)

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Create Task (20 minutes)

The following pages are a detailed model answer for the work simulation on Marketing Intelligence, geared towards a student interested in becoming a Business Intelligence Analyst.

Document and Present (15 minutes)

Reflection Task (10 minutes)

Expected Outcome

Model Answer

Simulation

PREPERAtion task

Select a Market Segment

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Define Objectives

I've chosen the e-commerce market segment, specifically focusing on the online fashion retail industry.

The key business question I aim to address is: "What are the current trends in online fashion retail, and how can a new entrant leverage these trends to gain market share?"

Simulation

research task

Collect data:

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I found several relevant market reports from sources like Statista and Nielsen:Statista's"Fashion eCommerce Report"Nielsen's "Global Consumer Trends"Retail Dive’s articles on e-commerce growth

Market Reports

I identified three main competitors: ASOS, Zalando, and Boohoo. I gathered information on their market share, customer reviews from Trustpilot, and their marketing strategies from their official websites and social media channels.

Competitor Analysis

I used Google Trends to understand the search interest in "online fashion," "sustainable fashion," and "fast fashion." I also reviewed forums and social media platforms like Reddit and Instagram where customers discuss their purchasing preferences and concerns.

Customer Insights

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Simulation

Analysis Task

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Data Compilation and Cleaning:

Data Compilation and CleaningI consolidated all the gathered data into a Google Sheet, ensuring the data was clean and formatted correctly. I removed any duplicates or irrelevant information.

Identify Key Metrics:For this analysis, I focused on metrics such as:Market size and growth rateCustomer demographics (age, gender, geography)Popular product categories (e.g., sustainable fashion)Competitor strengths and weaknesses

Simulation

Analysis Task

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Data Analysis:

Analyse TrendsI used Google Sheets to create graphs highlighting key trends:A line chart showing the growth of the e-commerce fashion market over the past five years.Bar charts illustrating the popularity of different fashion categories.A pie chart showing the market share distribution among ASOS, Zalando, and Boohoo.

SWOT Analysis

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Click to reveal more info!

Simulation

Create Task

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Key Findings

• The online fashion market is growing rapidly, especially in sustainable fashion.

• Competitors like ASOS are capitalising on fast fashion trends but face criticism for unsustainable practices.

• There is a rising interest in ethical and sustainable fashion among consumers, particularly in the 18-30 age group.

• For a new entrant, focusing on sustainable and ethical fashion could differentiate them from established competitors.

• Leveraging social media for visual marketing while promoting transparency in sourcing and production can attract eco-conscious consumers.

• Expanding into emerging markets where online fashion retail is underdeveloped offers growth opportunities.

Develop Insights:

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Recommendations

Simulation

Document and Present

Create a Report

I prepared a detailed report using Google Docs, including the key findings, SWOT analysis, and recommendations. I used visuals such as graphs and pie charts to support the analysis.

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Presentation

I created a concise PowerPoint presentation summarising the key points and insights. I shared this with peers for feedback via Google Slides.

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Simulation

Reflection Task

Learning Experience

Application

Skill Development

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Reflect on the Process:

I learned a lot about the complexity of marketing intelligence, the importance of clean data, and how to derive actionable insights from it.

The insights gained can directly inform the strategic planning of a new business in the e-commerce fashion sector.

This exercise significantly enhanced my data analysis skills, competitive analysis understanding, and the ability to turn data into actionable business strategies.

Simulation

Expected outcome

By the end of this activity, I have gained practical experience in gathering and analysing marketing intelligence data. I have also developed strong skills in making data-driven business decisions, improving my analytical abilities, and presenting my findings in a professional manner. This will be particularly beneficial for my career as a Business Intelligence Analyst.

Expected Outcome

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• Increasing consumer preference for online shopping

• High demand for sustainable and fast fashion

Strengths

• Ever-changing fashion trends

• Potential regulatory challenges on sustainability

Threats

• Heavy reliance on visual platforms

• High competition leading to thin profit margins

Weaknesses

• Emerging markets with untapped potential

• Increasing interest in eco-friendly and ethical fashion

Opportunities