Task Overview For international students choose a product from your home country that is not available in Australia and do an EDE audit and forecast likely Australian demand for the product. The aim is to assess the likely level of sales for your product in Australia. of your proposed product or service concept, using a demand. Specific details of what should be included are described below. For local students identify a problem in your lifestyle that needs fixing. Develop a product concept to fix the problem. Complete an EDE audit and forecast likely Australian demand for the product. The aim is to assess the likely level of sales for your product in Australia. Specific details of what should be included are described below. You will communicate your findings in the form of a 2000-word paper covering the following: 1. Product Concept 2. External Audit 3. Forecast and Estimated Demand for 2 years Data sources must be cited. No theory is necessary. You will need to use vey concise English. No weasel words. Specific Requirements Your market analysis should be based on the marketing constructs and processes covered in this unit. You should: 1. Title page containing: a. Category and name of product, b. b. Student name and ID, c. c. Seminar session-day and time d. d. word count e. Geographic boundary of analysis (i.e., Australia, Victoria QLD etc.) 2. Provide a brief overview of the proposed product concept (please include brand and services) 3. Carry out an external audit (include 1 competitor evaluation) -Identify any segments which are useful for development of specific 7Ps if they are apparent. This is about collecting facts and data which you will use to make decisions LATER in assignment 2. The only decisions here are about what data to collect, from where, and how to select for RELEVENCY and USELFULLNESS. Avoid the collection of background data for data’s sake. 4. Prepare a scenario forecast for future demand-Paint a picture about how you expect the next 2 years to look like in respect of demand for your product and estimate a demand for the product. Identify any assumptions you have made. Use your own insights based on your factual analysis above