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ECO600 Economics and Finance for Business

Question

Answered

How to do it?

Collect data gathered from the premises of two businesses as groups.

Share the data from these site visits with everyone.

Write the report entirely on your own (because this is an individual report).

What must you do?

Pretend you are a business consultant conducting a business intelligence report for your client, a business in town. You will advise them about their key rival in this industry. You will develop ideas to make their business more successful.

Thus, write a research report using data you collect from:

(i) observations, photos you take, and questions you ask staff members when you visit the premises of two competing Australian businesses, preferably in Manly (primary data), and

(ii) published data you find at the business premises and/or reports, papers and websites from the Internet about those businesses, their industry or comparable businesses and industries (secondary data).

The businesses you chose should be located near each other. This way, you can meaningfully analyse the competition between them.

The lecturer will announce details of the site visits in class (which companies and where).

Students are advised to visit the businesses in their free time. Bring along a writing pad, pen and a phone equipped with a camera to record your observations.

Collect secondary data (data from published sources, like news articles, books, journals, reports etc.) about the businesses or industry you investigated. Use this data to write a literature review of market competition and market structure, and to support your arguments in the other parts of the report written about the two Companies

What you will have to do:

(i)analyse of competition in the industry in the area you investigated, including any developments in the competition there (new businesses entering etc.) + select one of those businesses and recommend how you will improve their competitiveness (Week 5’s topic, market structure)

(ii)analyse how the two businesses have been growing their businesses + recommend how your selected business could grow better and be the larger/more dominant business (Week 6’s topic, growth strategies)

analyse how both businesses set the prices for their products and use non-price strategies to attract customers + recommend your chosen business could modify its prices or introduce its non-price strategies to secure more customers or sales (Week 6’s topic,  pricing and non-price strategies)

ECO600 Economics and Finance for Business

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B207A Shaping Business Opportunities

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