Develop a product with greater appeal to new target markets
We have laid the foundations for a theoretical model to describe the marketing process and entrepreneurial activity. This case study will provide you with an opportunity to apply these theories within a practical marketing situation.
PART A: SITUATION ANALYSIS
The External Environment (Macro/Micro)
Discuss the marketing environment for an event such as Tough Mudder. In particular, look at the changing environment and the changes that may have led to the popularity of an event such as this. What changes may occur in the next five years? What are the main opportunities and threats for an event such as this? Please complete a SWOT (Use the research literature in the area of the environment to justify your response). Use Michael Porters 5x Forces as a basis for this task.
Market Segmentation and Consumer Behavior
Building on the work that you have done in the previous section develop a segmentation analysis for the Tough Mudder events. Look at the profile of the people who are participating in the event and look at the people who may participate in the event in the future. Discuss the positioning of the Tough Mudder event in the Australian market.
Choose one aspect of consumer behavior from the list below. Discuss how a competitor organization may use an understanding of the effect of this consumer behavior aspect on consumer decision-making. Discuss how the competitor organization could develop a product with greater appeal to the new target markets developed in Part B, or encourage greater participation in the event.