IDENTIFY OR MAKE ASSUMPTIONS ON THEIR SOCIAL HABITS AND MEDIA CONSUMPTION TO IDENTIFY THE MOST RELEVANT COMMUNICATION CHANNELS AND METHODS TO REACH AND ENGAGE THEM.

Part A – Business and Marketing Strategy

Research the family market segment in Australia, and write a revision to the business plan that updates the target market segment
market size in terms of people and potential in terms of estimated spend on health and wellness per annum)

Their key features (demographics, lifestyle, values etc.), wants and needs

How your new product and service offering can meet and/or create wants and needs

Identify or make assumptions on their social habits and media consumption to identify the most relevant communication channels and methods to reach and engage them.

You can achieve your business and marketing objective of growth through any/all through market penetration, market development, product development and diversification. The concept you have in mind covers all of these.
Write three (3) new business goals using the S.M.A.R.T principles that you wish to achieve within the next twelve months.

For each goal, provide two (2) practical examples of how you will monitor your progress and measure the success.

Conducting an initial market scan and competitor analysis, you have identified ‘Naughty Naturopath Mum’ http://www.naughtynaturopathmum.com.au/ as your primary competitor for essences. Continue your scan and determine who your primary competitor is for meal plans and recipes. After reviewing the competitor’s product range, and marketing strengths and weaknesses:
State who they are, and which product/services will compete directly with yours. Include the URL, and any images or marketing executions in the Appendix.

Write a brief vision, product description and positioning statement (150-200 words) that includes how you will price and deliver (e.g. subscription, download) your new range; and what your point of difference or unique selling proposition is.

Draft an action plan for your product launch that includes:

Marketing campaign and execution budget
Resources required
Inventory management
Time frame
Roles and responsibilities
Part B – Operations and Human Resources

Make a list of business areas or activities that require review or development of policies and procedures to ensure that your new products and services are compliant with the following regulations?
Therapeutic Goods Act
Consumer Protection Laws
Privacy Act and National Privacy Principles
Anti-Spam Act and Direct Marketing Code of Practice
Child Protection Act
Anti-discrimination Act
Copyright and Trademark Laws
Environmental Protection Act and sustainability principles
Public liability and indemnity insurance
You recognise that you need support as well as additional funds, and will benefit greatly from professional advice on business expansion. Develop an action plan for identifying and meeting with appropriate organisations and/or individuals. This can be in bullet point form, and must include:

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