
SFU-001 - Module 4 (Model answer)
Springpod Team
Created on September 17, 2024
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Transcript
Preparation Task (10 minutes)
Research Task (30 minutes)
Analysis Task (30 minutes)
Create Task (20 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.
Document and Present (15 minutes)
Reflection Task (10 minutes)
Expected Outcome
Model Answer
1/9
2/9
Objective: Identify a targeted market segment and establish a focused business goal.Task:
Preparation task (10 minutes):
Step one: Select a market segment. I've chosen the e-commerce market segment, specifically focusing on the online fashion retail industry.
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1
Step two: define objectives. 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?"
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3/9
Objective: Build a comprehensive understanding of the chosen market segment. Step one: 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
- I also used AI to generate datasets based on the parameters I provided.
Research task (30 minutes):
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Step two: competitor analysis. I identified three main competitors: ASOS, Zalando, and Boohoo. I gathered information on their market share and growth rate, customer reviews from Trustpilot, and their marketing strategies from their official websites and social media channels.
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2
Step three: 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. I also used ChatGPT to collect information on the monthly sales of my 3 competitors.
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4/9
Analysis task (30 minutes):
Step one: data compilation and cleaning. I consolidated all the gathered data into a Excel Workbook, 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 rate
- Customer demographics (age, gender, geography)
- Popular product categories (e.g., sustainable fashion)
- Competitor strengths and weaknesses
View Eleanor's SWOT analysis +
1
Objective: compile, clean and analyse data.
Step two: data analysis. Analyse Trends: I used Power BI to create graphs highlighting key trends:
- A line chart showing the growth of the e-commerce fashion market over the past twelve months
- Bar chart illustrating the split of 3 different types of demographic
- A pie chart showing the market share distribution among ASOS, Zalando, and Boohoo
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5/9
Create task (20 minutes):
Objective: Develop insights to provide actionable recommendations.
1
Step one: key findings.
- The online fashion market is growing rapidly, especially in rural areas
- ASOS remained the largest market share across 2019-2021, though market share growth slowed, increasing from 27% to 30%
- Zalando had the highest growth rate in 2021, at 17.6%
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Step two: recommendations.
- For a new entrant, focusing on online sales and targeting an audience in rural areas could differentiate them from established competitors
- Understanding and leveraging the marketing techniques used by Zalando could help to increase growth rate
- Expanding into emerging markets where online fashion retail is underdeveloped offers growth opportunities
6/9
Document & present (15 minutes):
1
Objective: compile a comprehensive report detailing your findings and recommendations.
Step one: compile report. I prepared a detailed report using Power BI, including the key findings, SWOT analysis, and recommendations. I used visuals such as graphs and pie charts to support the analysis. I added a slicer to my report for some visuals, giving the user the ability to dynamically select different years if viewing the report online
7/9
Reflection task (10 minutes):
Objective: reflect on your process as a Business Intelligence Analyst.
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Step one: answer the following questions:
- How has this task furthered your understanding of marketing intelligence and data analysis?
- How can the insights gained in this task be applied to real-world business decisions?
- How has this exercise enhanced your skills as a Business Intelligence Analyst and how can you improve for future occasions?
8/9
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
9/9
Strengths:
- Increasing consumer preference for online shopping
- Sales are distributed fairly evenly among different age groups and genders. However, the location category shows high demand in rural areas
Opportunities:
- Emerging markets with untapped potential
- Increasing interest in shopping online
Weaknesses:
- Across the 2021 year, accessories is the best-selling category in only one month
- High competition leading to thin profit margins
Threats:
- Ever-changing fashion trends
- Potential regulatory challenges on sustainability