Market Evaluation for Launching a New Product/Service in Queenstown, New Zealand

Running Head: MARKET EVALUATION
Market Evaluation
Name of the Student
Name of the University
Author Note

1MARKET EVALUATION
Introduction
The market opportunity analysis is a type of business planning which emphasises on the
discovery of the future opportunities and evaluation of the company's technological, financial
and the competitive willingness to make good use of them. The market analysis includes the
recognition of the unfulfilled need of the customers, the identification of the needs of the target
market and the assessment of the competitive advantage along with the resources of the company
(Baird, Hall and Castka 2018). In order to perform a proper market evaluation, there are five
steps. Firstly, the current market needs must be analysed. After that, the industry needs to be
defined along with getting every detail about the competitors. In order to enter a particular
market, a company should establish its own target market and create its own projection. The aim
of this report is to evaluate the market opportunities in order to launch a new product/service for
the Australian market. The primary objective is to get more people to go to Queenstown New
Zealand. The market evaluation report will consider the elements such as the market channel
structure, the market entry model, the competition, the pricing, marketing strategies and the
customer profile. The report will also utilise the relevant applied strategic frameworks such as
BOS, SWOT, the Four Pillars, market segmentation for a new business venture of ‘Indigenous
Food tour’.
Discussion
Overview of Queenstown
Queenstown is a resort town that is located in the south-west of New Zealand's South
Island. It has the urban population of almost 15,850, which makes it the 27th largest metropolitan
area in entire New Zealand. In the year 2016, Oamaru has been overtaken as the second largest

2MARKET EVALUATION
urban area of Otago. The town is built around the inlet called as the Queenstown Bay on the
Lake Wakatipu.
Evaluation of the Tourism sector
In order to start a new business venture in the Tourism industry of Queenstown, the
market intelligence as a tool is used to evaluate the market and find out the market opportunities.
The market intelligence is the information relevant to the market of a particular company,
analyzed and gathered for the purpose of confident and accurate decision –making in the areas
such as the market development, the market entry model and the market opportunities. The
market intelligence consists of the process of gathering necessary data from the external
environment of the market and the internal analysis too. As supportive elements of market
intelligence, the market analysis of Queenstown tourism industry will be done through the
SWOT and the PESTEL analysis.
SWOT analysis
The SWOT analysis is an internal evaluation tool which will help to determine whether
the product/service launching will have expected outcomes in Queenstown New Zealand or not.
The SWOT analysis will analyse the strengths, weaknesses, opportunities and threats of the
Queenstown market for increasing the tourists visit in the area.
Strengths - It has been found that almost 80
% of the New Zealanders have a good quality
of life. The government of New Zealand
always takes part in solving more significant
issues and provides the resources for making
Weaknesses- There is rapid technological
change going that is leveraging the
globalisation, urbanisation and taking place in
the entire country. The effects of the
urbanisation are leading the country towards

3MARKET EVALUATION
solutions to everyone. Moreover, they provide
fund for the basic research that is a crucial
component for innovation, which improves the
lives of everyone. It is a better place to live,
and due to the natural beauty of the sites,
millions of people visit every year in
Queenstown and other areas. The country is
politically stable, and the economy is also good
(Schroeder, Zimmermann and Formiga 2016).
Queenstown is a comfortable place to do
business, policy-making and economics is
flexible.
the verge of losing is natural beauty, that is the
reason for tourists coming here. There are
skills shortage persistently. The thin markets
are matching the labour demand with the skills
harder. There are distribution and management
challenges in a few areas. The pace of the
policy reform has slowed down along with the
tendency to overseas policy concerns. There is
also policy inertia in a different part of
Queenstown (Sun, Ryan and Pan 2015).
Opportunities- The rapid growth of the
technologies have brought the markets closer.
The emerging economies want what the place
offers. Since the area is isolated, there are
fewer risks of terrorism and bio-security.
There is room to adopt the best practices
methods of business. There are also
opportunities to lift the growth of productivity
(Tsui 2017). The natural resources are
untapped and scope for more extensive
population visit over time.
Threats- As far as the threats are concerned,
there are natural risks of earthquakes that occur
quite regularly. There is vulnerability to the
rising sea levels. There is also the economic
pressure of an ageing population. The regional
income inequality is likely to increase. In the
global context, there is high international
indebtedness and increased levels of increased
concentration of the product exports and the
markets. With the growth of digital technology
usage, cybersecurity threats are also increasing.