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MNE2601 Assignment 4 (COMPLETE ANSWERS) Semester 1 2024 (830615) - DUE 20 May 2024
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MNE2601Assignment 4
(COMPLETE
ANSWERS)
Semester 1 2024
(830615) - DUE
20 May 2024
, 1. Draw up an industry and market feasibility for your chosen
business/envisaged business. You need to include the following in your
answer. Use section 3.3 in your prescribed textbook as your guideline. • Type
of industry - 1 mark • Why it is attractive - 1 mark • Nature of competition -
3marks • Profitability of the industry - 10 marks • Market factors - 5 marks (20)
Remember this is an application question and you will not get full marks if you
simply give the theory in your study material.
Sure, let's develop a feasibility analysis for a digital marketing agency.
1. Type of industry: Digital Marketing Services
2. Why it is attractive:
Rapid Growth: With the increasing digitalization of businesses and the rise of
online platforms, the demand for digital marketing services is growing rapidly.
Low Entry Barrier: Starting a digital marketing agency requires minimal capital
compared to traditional businesses. All that's needed are skilled personnel and
digital tools.
Scalability: Digital marketing services can be easily scaled up as the business
grows by hiring more personnel and expanding service offerings.
Flexibility: The digital marketing industry offers various services such as SEO,
social media marketing, content marketing, etc., allowing agencies to tailor their
offerings to clients' needs.
3. Nature of competition:
High Competition: The digital marketing industry is highly competitive with
numerous agencies offering similar services.
Diverse Competitors: Competitors range from small boutique agencies to large
multinational firms, each with its own unique value proposition.
Technological Innovation: Constant technological advancements require agencies
to stay updated with the latest tools and techniques to remain competitive.
Client Relationships: Building strong relationships with clients and delivering
high-quality results is crucial for sustaining competitive advantage.
4. Profitability of the industry:
High Profit Margins: Digital marketing services typically have high-profit
margins once initial investments in tools and personnel are covered.
Recurring Revenue: Many digital marketing services, such as SEO and social
media management, involve recurring monthly fees, providing a steady stream of
income.
Scalability: As the business grows and acquires more clients, economies of scale
can further improve profitability.
Cost Control: With efficient management of resources and overhead costs,
profitability can be enhanced.
5. Market factors:
Market Growth: The digital marketing industry is experiencing continuous growth
driven by increasing internet penetration and the shift towards online commerce.
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