Subject Code & Title :- BSBMKG501 Identify And Evaluate Marketing Opportunities
Assessment Type :- Assignment
Assessment Instructions :-
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out signed and submitted together with your assessment responses.
If you are submitting hardcopy the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically print out the cover sheet fill it out and sign it then scan this and submit the file.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment which will be satisfactory (S) or not satisfactory (NS). If your work has been assessed as being not satisfactory your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per RSB re-assessment policy.
Depending on the task, this may include
resubmitting incorrect answers to questions (such as short answer questions and case studies)
resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
redoing a role play after being provided with appropriate feedback about your performance
being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time after being provided with appropriate feedback.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
Assessment Task Information
This gives you:
a summary of the assessment task
information on the resources to be used
submission requirements
re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment task submission. Include this document’s header and footer.
If you are submitting electronically give the document a file name that includes the unit identification number the task number, your name and the date.
Checklist
This will be used by your assessor to mark your assessment.
Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses.
Assessment Task 1: Written Questions
Task summary
This is an open book test, to be completed in the classroom.
A time limit of 1 hour to answer the questions is provided.
You need to answer all of the written questions correctly.
Your answers must be word processed and sent to the assessor as an email attachment.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
Required
Access to textbooks/other learning materials
Computer and Microsoft Office
Access to the internet
Submit
Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.
Re-submission opportunities :-
You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt
with unfairly or have other appropriate grounds for an appeal.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
You are encouraged to consult with the assessor prior to attempting this task if you do not under stand
any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
Written answer question guidance
The following written questions use a range of instructional words such as identify or explain which tell you how you should answer the question. Use the definitions below to assist you to provide the type of response expected.
Note that the following guidance is the minimum level of response required.
Analyse –
when a question asks you to analyse something you should do so in in detail and identify important points and key features. Generally you are expected to write a response one or two paragraphs long.
Compare –
when a question asks you to compare something, you will need to show how two or more things are similar ensuring that you also indicate the relevance of the consequences. Generally you are expected to write a response one or two paragraphs long.
Contrast –
when a question asks you to contrast some thing you will need to show how two or more things are different ensuring you indicate the relevance or the consequences. Generally, you are expected to write a response one or two paragraphs long.
Discuss –
when a question asks you to discuss something, you are required to point out important issues or features and express some form of critical judgement. Generally you are expected to write a response one or two paragraphs long.
Describe –
when a question asks you to describe something you should state the most notice able qualities or features. Generally you are expected to write a response two or three sentences long.
Evaluate –
when a question asks you to evaluate something, you should do so putting forward arguments for and against something. Generally, you are expected to write a response one or two paragraphs long.
Examine –
when a question asks you to examine something, this is similar to analyse where you should provide a detailed response with key points and features and provide critical analysis. Generally you are expected to write a response one or two paragraphs long.
Explain –
when a question asks you to explain something, you should make clear how or why something happened or the way it is. Generally you are expected to write a response two or three sentences long.
Identify –
when a question asks you to identify something, this means that you are asked to briefly describe the required information. Generally you are expected to write a response two or three sentences long.
List –
when a question asks you to list something, this means that you are asked to briefly state information in a list format.
Outline –
when a question asks you to outline something, this means giving only the main points Generally you are expected to write a response a few sentences long.
Summarise –
when a question asks you to summarise something this means like outline only giving the main points. Generally you are expected to write a response a few sentences long.
Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Identify and outline five examples of legislation and regulations that apply to the marketing industry in Australia.
2.Identify two relevant Codes of Practice for the marketing industry and outline the purpose of the Code and its key components.
3. Explain each of following terms in relation to marketing opportunities: market penetration market development product development and diversification.
4.Explain each of the phases of the product life cycle.
5.Explain the purpose of the marketing mix and each of its components.
6.Explain why the marketing mix is important in bringing a product or services to the market.
7.Outline four key steps in the marketing process
8. Describe four statistical methods and/or forecasting techniques that can be used to evaluate marketing opportunities.
9.Describe a method that can be used for forecasting market growth rate.
10.Define the term return on investment and explain how it is calculated.
Assessment Task 2: Marketing opportunities identification project
Task summary :-
This assessment task requires you to identify and evaluate marketing opportunities for a company of your choice. This will include conducting research and analysis to identify the marketing opportunities and investigating and reporting on those opportunities.
This assessment is to be completed in the simulated work environment in RSB.
Required
Access to textbooks/other learning materials
Computer with Microsoft Office and internet access
Meeting space with a presentation projector and screen
Submit
Email with marketing review report attached
Email summarising the three most viable marketing opportunities.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.
Re-submission opportunities :-
You will be provided feedback on their performance by the Assessor.
The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed the assessor will explain why and provide you written feedback along with guidance on what you must under take to demonstrate satisfactory performance.
Re assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the out come of assessment decisions if you feel that you have been dealt with un fairly or have other appropriate grounds for an appeal.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
You are en couraged to consult with the assessor prior to attempting this task if you do not under stand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
Assessment Task 2 Instructions
This assessment task requires you to identify and evaluate marketing opportunities for a company of your choice so you will need to identify a company and access its Marketing Plan.
You can choose a company by viewing the site or by researching the internet for a Marketing Plan for a company that you are interested in. The marketing plan must include business goals target customers marketing branding strategy sales forecasts and marketing budget to provide sufficient information in order to be able to complete this assessment.
Before you start the assessment task you should discuss your choice of company with your assessor who will need to approve your choice before you start the assessment project.
For the purposes of this assessment assume that you are the Marketing Manager of the company that you have chosen and that your assessor is the Managing Director.
Assume that the location of the business is in the city or suburb you are living in.
Complete the following activities:
1. Write a marketing review report.
Thoroughly review the marketing plan for the company you have chosen to ensure that you understand the business objectives customers and current marketing strategies. Conduct research on market trends and developments relevant to the business’s products and/or services potential new and emerging markets competitors and any other relevant factors. Make notes on your research to share at a meeting with the marketing team.
Based on your review of the marketing plan and your research identify and assess at least three potential marketing opportunities for the company. Your assessment should focus on each opportunity’s likely contribution to the business. You should also focus on identifying entrepreneurial innovative and creative ideas for marketing opportunities. Make notes on your ideas to share at the meeting.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
Write a short report summarising your review of the marketing plan and research that as a minimum addresses:
A summary of business objectives, target customers and current marketing strategies.
Outline of current market trends and developments potential new and emerging markets competitors and any other relevant factors.
Explanation of three marketing opportunities that you have identified as being most viable including your assessment of each of the marketing opportunities with regard to their contribution to the company.
You will be required to present and discuss your report at a meeting with your marketing team.
Print out a copy of your report and the marketing plan for each person who will attend the meeting.
2.Send an email to the Marketing Team (your assessor).
The text of the email should be in grammatically correct English written in an appropriate polite business-like style.
It should introduce and summarise the contents of the attachment and ask for the time date and place of the meeting.
Attach your marketing review report and a copy of the marketing plan to the email.
11. Conduct meeting
The next part of your assessment requires you to conduct a short brainstorming session with your team. Your assessor will have allocated a number of other students to be part of your team and your assessor will role play your Managing Director.
At the meeting you will be required to discuss your report and address:
A summary of business objectives target customers and current marketing strategies.
An outline of current market trends and developments potential new and emerging markets competitors and any other relevant factors.
An explanation of the three marketing opportunities that you have identified.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
You are then required to ask your team to share their ideas on the marketing opportunities you have identified and assessed.
Take note of their ideas and get your team to confirm that the three marketing opportunities are viable and align with the organisation’s objectives.
During the meeting demonstrate effective communication skills including:
Speaking clearly and concisely
Using non-verbal communication to assist with understanding
Asking questions to identify required information
Responding to questions as required
Using active listening techniques to confirm understanding
3.Send an email to the Marketing Team (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate polite business-like style.
It should summarise the three marketing opportunities that were confirmed.
You will explore these three marketing opportunities in more detail in Assessment Task 3.
Assessment Task 3: Marketing Opportunities Evaluation
Task summary
This assessment task requires you to use investigate and report on each of the marketing opportunities that you identified in Assessment Task 2.
This assessment is to be completed in the simulated work environment in RSB.
Required
Access to textbooks/other learning materials
Computer with Microsoft Office and internet access
Marketing Opportunities Report Template
Submit
Email with marketing opportunities report and marketing plan attached
Assessment criteria
For your performance to be deemed satisfactory in this assessment task you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed you will be asked to complete further assessment to demonstrate competence.
Re-submission opportunities :-
You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
If any parts of the task are not satisfactorily completed the assessor will explain why and provide you written feedback along with guidance on what you must under take to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have been
dealt with unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
Assessment Task 3 Instructions
Complete the following activities:
1. For each of one of the three the marketing opportunities that you have identified as being most viable develop a report in the template provided by your assessor that addresses:
Alignment with the business’ objectives and goals as described in the Marketing Plan
Target customers: describe them and identify whether they are new or existing customers
Overall benefits to the business of pursuing the opportunity
Anticipated effect of the marketing opportunity on sales profitability growth and market share. A cost-benefit analysis or existing data in the Marketing Plan could be used to help estimate this.
Additional resources that will be required for example additional funds staff or equipment including finances staff equipment
Estimated effect on return on investment. This should be an approximate estimate taking into account how much the likely cost of the opportunity would be against anticipated return.
Use the information in the Marketing Plan to help you answer this.
Potential competitors: these may be existing competitors or new ones depending on the marketing opportunity pursued
How any changes in economic conditions could impact on each marketing opportunity
Technological factors that may affect the marketing opportunities identified
Legal issues associated with each marketing opportunity including legislation regulations standards and codes that apply
Risks associated with each marketing opportunity. A risk assessment must be completed for each opportunity.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
Rank each of the marketing opportunities that you have identified from the most viable to least viable in terms of the potential contribution of each opportunity to business growth. Provide reasons for your rankings.
Evaluate and report on required changes to business operations in the event of the opportunity being pursued. Include the following:
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
What organisational changes would need to be made to current operations in order to take advantage of the opportunities identified?
Outline of additional resources that will be required for each of the viable marketing opportunities. For example if additional staff are needed, how many or if there are additional costs what are they and what is the amount?
Recommended strategies to ensure that the quality of service to existing customers is not affected by changes made as a result of implementing new marketing opportunities.
Use the Marketing Opportunities Report Template to guide your work.
The report should be approximately 3 to 4 pages long.
You may use charts tables or graphs to illustrate data if desired.
BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment
2.Send an email to the Managing Director (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite business-like) style.
It should introduce and summarise the contents of the attachment, and request feedback on the marketing opportunities that you have identified.
Attach your marketing opportunities report and a copy of the marketing plan to the email.
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