MNM3708 Assignment 3 PORTFOLIO (DETAILED ANSWERS) 2025 - DISTINCTION GUARANTEED

MNM3708
Assignment 3 Semester 1 2025
Unique #:

Due Date: 3 June 2025

Detailed solutions, explanations, workings
and references.

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, TABLE OF CONTENTS
1. INTRODUCTION .................................................................................................. 4
2. BACKGROUND OF STAR CLEANER DETERGENTS ........................................ 4
2.1 Mission ................................................................................................................ 4
2.2 Ownership and Management ........................................................................... 5
2.3 Identification of Goods and Services Offered .................................................. 5
3. THE RETAILING CONCEPT ................................................................................ 5
3.1 Overview of the Retailing Concept................................................................... 5
3.2 Customer Orientation Concept ........................................................................ 6
3.3 Practical Application by Star Cleaner Detergents ............................................ 6
4. ANALYSIS OF THE CURRENT SITUATION AND SWOT ANALYSIS ................. 6
4.1 Strengths ......................................................................................................... 7
4.2 Weaknesses .................................................................................................... 7
4.3 Opportunities ................................................................................................... 8
4.4 Threats ............................................................................................................ 8
5. SETTING OF OBJECTIVES ................................................................................. 8
5.1. Theoretical Overview of Objectives ................................................................ 8
5.2. Sales Objectives ............................................................................................. 9
5.3 Profit Objectives............................................................................................... 9
5.4 Public Satisfaction Objectives .......................................................................... 9
5.5. Practical Recommendations ......................................................................... 10
6 IDENTIFICATION OF CONSUMERS .................................................................. 10
6.1 Components of Customer Analysis ........................................................... 10
6.2 Application to Star Cleaner ......................................................................... 11
7.3 Target-Market Approaches ......................................................................... 11
7.3.1 Mass-Marketing Potential ..................................................................... 11
7.3.2 Concentrated Marketing ....................................................................... 11
7.3.3 Differentiated Marketing ....................................................................... 12
7.4 Segmentation Priorities and Recommended Focus ................................. 12
7.5 Positioning for Competitive Advantage ..................................................... 12
8 DEVELOPING AN OVERALL STRATEGY ......................................................... 13
8.1 The Retailing Mix and External Environment ............................................ 13
8.2 Controllable Variables Applied to Star Cleaner ........................................ 13
8.2.1 Merchandise Mix.................................................................................... 13
8.2.2 Pricing Strategy ..................................................................................... 13



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, 8.2.3 Location and Layout ............................................................................. 13
8.2.4 Promotion .............................................................................................. 14
8.2.5 Customer Service .................................................................................. 14
8.3 Uncontrollable Variables Applied to Star Cleaner .................................... 14
8.3.1 Consumers ............................................................................................. 14
8.3.2 Competition ........................................................................................... 14
8.3.3 Economic Climate ................................................................................. 14
8.3.4 Technology ............................................................................................ 15
8.3.5 Legal and Environmental Regulation .................................................. 15
8.3.6 Seasonality and Culture ........................................................................ 15
9 TRADING-AREA ANALYSIS .............................................................................. 15
9.1 Overview of Trading-Area Analysis ........................................................... 15
9.2 Population Characteristics Relevant to Star Cleaner ............................... 15
9.3 Nature of Competition and Level of Saturation......................................... 16
9.4 Practical Recommendations ....................................................................... 17
10. SPECIFIC ACTIVITIES FOR STAR CLEANER DETERGENTS ....................... 18
10.1 Introduction to Specific Activities ................................................................. 18
10.2 Daily and Short-Term Operations ................................................................ 18
10.3 Response to the Environment ..................................................................... 19
10.3.1 Importance of Environmental Responsiveness ..................................... 19
10.3.2 Economic Trends and Responses ......................................................... 19
10.3.3 Competitive Trends and Responses...................................................... 20
10.3.4 Regulatory Trends and Responses ....................................................... 20
10.3.5 Technological Trends and Responses .................................................. 20
10.3.6 Sociocultural Trends and Responses .................................................... 21
11. CONTROL ACTIVITIES FOR STAR CLEANER DETERGENTS...................... 21
11.1 Retail Control ............................................................................................... 21
11.2 Key Elements of Control .............................................................................. 22
11.3 Importance of Continuous Monitoring .......................................................... 23
11.3 Evaluation .................................................................................................... 23
11.4 Feedback ..................................................................................................... 24
12. CONCLUSION .................................................................................................. 24
REFERENCES ....................................................................................................... 25




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