SFU-016 - Module 4 (Model answer)

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Model Answer

Expected Outcome

Reflection Task (10 minutes)

Document and Present (15 minutes)

Hear from a professional in this role to see how they might approach this task. 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.

Create Task (20 minutes)

Analysis Task (30 minutes)

Research Task (30 minutes)

Preparation Task (10 minutes)

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BACK

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?"

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

Define Objectives

Select a Market Segment

PREPERAtion task

Simulation

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BACK

Customer Insights

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.

Competitor Analysis

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.

Market Reports

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

Collect data:

research task

Simulation

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

BACK

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

Data Compilation and Cleaning:

Analysis Task

Simulation

Click to reveal more info!

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SWOT Analysis

BACK

Analyse Trends I 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.

Data Analysis:

Analysis Task

Simulation

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BACK

Recommendations

Develop Insights:

• 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.

• 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.

Key Findings

Create Task

Simulation

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BACK

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

Presentation

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.

Create a Report

Document and Present

Simulation

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BACK

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

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

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

Reflect on the Process:

Skill Development

Application

Learning Experience

Reflection Task

Simulation

BACK

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

Simulation

Strengths

• Increasing consumer preference for online shopping

• High demand for sustainable and fast fashion

Threats

• Ever-changing fashion trends

• Potential regulatory challenges on sustainability

Weaknesses

• Heavy reliance on visual platforms

• High competition leading to thin profit margins

Opportunities

• Emerging markets with untapped potential

• Increasing interest in eco-friendly and ethical fashion