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MKF2801 Market Analysis Report HD
MKF2801 - Marketing insights
13 Found helpful • 14 Pages • Essays / Projects • Year: Pre-2021
MKF2801 MARKET ANALYSIS REPORT (RETAIL) i got a HD on this The setting: You have been approached by a start-up that has the aim to tap into the health and wellness trend and take organic and heathy food to the masses in the Australian market. The retailer is looking to disrupt the food industry in developing their new store network. They will likely start with store(s) in Melbourne. Note: The above details in the setting section indicate that your client is a retailer and has a store, or stores, and operates in Health Food. You can make any other assumptions you like about the specific retail category or products they sell, but you should not need to make assumptions beyond what you know here. 1. Background to market 1.1 Definition of the market A market is defined as “as the sum total of all the buyers and sellers in the area or region under consideration.” (Economic Times, 2017) The food industry is always evolving as the tastes and preferences of consumers are always changing. Companies, stores and manufactures in the organic and health food market produce healthy snack foods with high nutritional value, low sugar and low fat. (IBISWorld, 2016) These foods include muesli and protein bars, dried fruits, nuts, protein bars and protein shakes. The organic industry produces food free of chemicals or genetically modified components. As of 2017, the global market for organic foods has reached $1.2 billion while the health food retail industry has also exceeded $1.2 billion. (IBISWorld, 2016) With an annual growth 3.1%, it is a rapidly growing industry due to shifts in consumer trends over the years, with consumers now placing more emphasis on their health and well-being, resulting in the increase in consumption of organic food items. (IBISWorld, 2016) ...............................
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