,MNM2615 Assignment 1 (COMPLETE ANSWERS)
Semester 1 2025 - DUE March 2025; 100% Correct solutions
and explanations.{Two different companies provided in this
document}
COMPANY 1 LULUS TRADING PTY LTD {FRUIT AND
VEGETABLES
QUESTION 1
Describe the background of the chosen SME/SMME. Your
answer should not exceed half a page (5 marks for the
background)
(5)
Lulus Trading Pty Ltd is a small to medium-sized enterprise
(SME) that operates within the fresh produce sector, specializing
in the trading of fruits and vegetables. Established with the goal
of providing high-quality, fresh produce to both retail and
wholesale markets, Lulus Trading sources its goods directly
from local farmers and international suppliers, ensuring a
diverse range of fruits and vegetables. Over the years, the
company has built a strong reputation for its commitment to
quality, reliability, and competitive pricing. By leveraging
efficient distribution channels and fostering strong relationships
with suppliers and customers, Lulus Trading has been able to
maintain steady growth within the highly competitive fresh
produce market. The company prides itself on its sustainability
efforts, sourcing produce in an environmentally conscious
manner and prioritizing fair trade practices.
QUESTION 2
,(a) Explain demography to the identified SME/SMME
owner/manager 15 marks for the theoretical explanation).
(b) Discuss the demography of the chosen SME/SMME and
give practical examples to clarify your discussion (10 marks for
the practical examples and clarification).
(15)
(a) Explanation of Demography to the SME
Owner/Manager:
Demography refers to the statistical study of human populations,
including the structure, distribution, and trends within a
population. This field of study focuses on various factors, such
as age, gender, income, education, family size, and employment
status, which can significantly influence market behavior and
demand for products and services.
For your SME, Lulus Trading Pty Ltd, understanding
demography is crucial because it helps you identify the
characteristics of your target market. By examining the
demographic trends in your customer base, you can make more
informed decisions regarding product offerings, marketing
strategies, pricing, and the expansion of your services.
Demographic factors can also guide you in understanding the
needs of your customers, what they value most, and how to best
serve them.
For instance:
, Age: Understanding the age distribution of your customers
can help you choose the types of fruits and vegetables that
will appeal to different age groups. Younger consumers
may prefer convenience products like pre-cut vegetables,
while older consumers may be more focused on health
benefits and organic produce.
Income: The income levels of your target market will
affect the pricing strategy for your products. Higher-income
consumers may prefer premium or organic produce, while
more budget-conscious consumers may opt for standard,
affordable options.
Location: Knowing the geographic location of your
customers allows you to understand the distribution of your
market. For example, if your business is based in an area
with a higher concentration of families, you may stock
larger quantities of products like potatoes, carrots, and
apples, which are staples in many households.
Demography allows you to tailor your business strategy to meet
the specific needs of your consumer base.
(b) Discussion of the Demography of Lulus Trading Pty Ltd:
The demography of Lulus Trading Pty Ltd can be understood
by analyzing the demographic characteristics of its target
market. Given that the company specializes in the sale of fresh
fruits and vegetables, its customer base is diverse, but certain
demographic factors play a significant role in shaping its
operations and product offerings.
Semester 1 2025 - DUE March 2025; 100% Correct solutions
and explanations.{Two different companies provided in this
document}
COMPANY 1 LULUS TRADING PTY LTD {FRUIT AND
VEGETABLES
QUESTION 1
Describe the background of the chosen SME/SMME. Your
answer should not exceed half a page (5 marks for the
background)
(5)
Lulus Trading Pty Ltd is a small to medium-sized enterprise
(SME) that operates within the fresh produce sector, specializing
in the trading of fruits and vegetables. Established with the goal
of providing high-quality, fresh produce to both retail and
wholesale markets, Lulus Trading sources its goods directly
from local farmers and international suppliers, ensuring a
diverse range of fruits and vegetables. Over the years, the
company has built a strong reputation for its commitment to
quality, reliability, and competitive pricing. By leveraging
efficient distribution channels and fostering strong relationships
with suppliers and customers, Lulus Trading has been able to
maintain steady growth within the highly competitive fresh
produce market. The company prides itself on its sustainability
efforts, sourcing produce in an environmentally conscious
manner and prioritizing fair trade practices.
QUESTION 2
,(a) Explain demography to the identified SME/SMME
owner/manager 15 marks for the theoretical explanation).
(b) Discuss the demography of the chosen SME/SMME and
give practical examples to clarify your discussion (10 marks for
the practical examples and clarification).
(15)
(a) Explanation of Demography to the SME
Owner/Manager:
Demography refers to the statistical study of human populations,
including the structure, distribution, and trends within a
population. This field of study focuses on various factors, such
as age, gender, income, education, family size, and employment
status, which can significantly influence market behavior and
demand for products and services.
For your SME, Lulus Trading Pty Ltd, understanding
demography is crucial because it helps you identify the
characteristics of your target market. By examining the
demographic trends in your customer base, you can make more
informed decisions regarding product offerings, marketing
strategies, pricing, and the expansion of your services.
Demographic factors can also guide you in understanding the
needs of your customers, what they value most, and how to best
serve them.
For instance:
, Age: Understanding the age distribution of your customers
can help you choose the types of fruits and vegetables that
will appeal to different age groups. Younger consumers
may prefer convenience products like pre-cut vegetables,
while older consumers may be more focused on health
benefits and organic produce.
Income: The income levels of your target market will
affect the pricing strategy for your products. Higher-income
consumers may prefer premium or organic produce, while
more budget-conscious consumers may opt for standard,
affordable options.
Location: Knowing the geographic location of your
customers allows you to understand the distribution of your
market. For example, if your business is based in an area
with a higher concentration of families, you may stock
larger quantities of products like potatoes, carrots, and
apples, which are staples in many households.
Demography allows you to tailor your business strategy to meet
the specific needs of your consumer base.
(b) Discussion of the Demography of Lulus Trading Pty Ltd:
The demography of Lulus Trading Pty Ltd can be understood
by analyzing the demographic characteristics of its target
market. Given that the company specializes in the sale of fresh
fruits and vegetables, its customer base is diverse, but certain
demographic factors play a significant role in shaping its
operations and product offerings.
