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BUS5PB - Principles of Business Analytics

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La Trobe University

   

Principles Of Business Analytics (BUS5PB)

   

Added on  2020-03-07

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The residential Australian unvarying (correlative) Healthcare Industry is energetic and huge. Statistical surveying demonstrates that the ubiquity of normal natural healthcare items is expanding with a development rate of seven for each penny year on year. 75% of Australians, including 92 for each percentage of females aged 20-24; take no less than one Dietary Supplement, and a fourth of the populace visit fundamental healthcare services experts every year

BUS5PB - Principles of Business Analytics

   

La Trobe University

   

Principles Of Business Analytics (BUS5PB)

   Added on 2020-03-07

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BUS5PB - Principles of Business AnalyticsAssignment 01: Self-service Analytics SolutionName of the StudentName of UniversityAuthor Note
BUS5PB - Principles of Business Analytics_1
Table of Contents1.0 Introduction...............................................................................................................................32.0 Critical evaluation of the survey................................................................................................33.0 Analytical Solution.....................................................................................................................43.1 Analytics solution 1................................................................................................................4Market Segment......................................................................................................................4Customer segment...................................................................................................................5Marketing Channel..................................................................................................................5Customer view about product.................................................................................................63.2 Analytics solution 2................................................................................................................64.0 Recommendations.....................................................................................................................9Bibliography:..................................................................................................................................11
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1.0 IntroductionThe residential Australian unvarying (correlative) healthcare industry is energetic and huge.Statistical surveying demonstrates that the ubiquity of normal natural healthcare items isexpanding with a development rate of seven for each penny year on year. 75% of Australians,including 92 for each percentage of female aged 20-24; take no less than one dietarysupplement and a fourth of the populace visit fundamental healthcare services experts everyyear (Bagstad et al. 2013). The Australian business keeps on developing to meet these necessities. As of now sensitive toelective ways to deal with wellbeing, perceiving children of post war America (Australia'sbiggest populace gathering) progressively request more noteworthy decision and receive adeterrent medicinal services way to deal with keeping up more beneficial lives. In Australia, thespeediest development zones are personal care, Pharmaceuticals and Nutrition. In the previoustwo decades, the pharmaceutical, individual care, and nutritious enterprises have merged toaddress developing requests in the beauty, wellbeing and health advertise. This merging has brought about the development of new industry fragments Nutraceuticals,Cosmeceuticals and Nutricosmetics. While, the market in China, Japan or USA is properlyestablished for these new segments, the Australian market is still in the early stages ofdevelopment. Thus, understanding these industry segments, consumers, the potential marketsand opportunities are imperative. This particular report is therefore exploring effectivemarketing strategies (market opportunities, targeted customers, channels for campaigns, etc.)for a potential client intending to enter these new industry segments in Australia.2.0 Critical evaluation of the surveyAs mentioned in the given case study, an end user survey has been already conducted and thedata is available for analysis. This section of the study is exploring the appropriateness of thissurvey (Hazen et al. 2014). Since, the aim was to identify market opportunities in this new filed;it was obvious choice to collect information from those respondents, who have the interest inthese products. In other words, this survey must had to consider one such question, which canclassify respondents into two categories; one who know something about these products andready to purchase and one who have no such idea. It has seen that the survey started with thequestion, “Are you a regular consumer of beauty, health & wellness products?” and the data wascollected from regular consumers of beauty, health & wellness products. Hence, it can be said that thesurvey questionnaire designed for this survey set proper tone for this market. A survey is termed as aneffective one provided it supports the analyst to explore both demographic profile as well as awarenessabout the subject of study. From this point of view too, it can be argued that this survey questionnairehas considered a list of demographic variable started from state to income, age band and gender. Thesevariables are critical for identifying market opportunities, targeted customers and associatestrategies (Jaworska et al. 2015). Again, this survey questionnaire has also included questionsthat are required to understand the new product launch strategies. Hence, it can be concludedthat the data collected using this survey questionnaire surely give insights about the Australianbeauty, healthcare and wellbeing market.
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The survey question overall seemed good to collect necessary information for Australianbeauty, healthcare and wellbeing market, however, questions related to promotionalstrategies, whether giving offer and discount will influence the purchase decision or not arenecessary to portray the market properly. These questions are missing here. 3.0 Analytical SolutionIn this section of the report, the analyst has presented two different set of analytical solutionsdesigned with the help of SAP Lumira and Microsoft Excel analytical tool. While deigning themodels, the analyst tried to display the possible market segments, target customers, marketingchannel necessary and easiness of spreading information about the product and finally productform. The analytical model designed with the help of SAP Lumira visualize the data collectedthrough this survey questionnaire (Duan and Xiong, 2015). On the other hand, the pivot tablesdesigned with the help of excel demonstrates numerical figures. 3.1 Analytics solution 1Market SegmentFigure 1: Possible Market Segments (using SAP Lumira)
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