...Assessment Materials BSBMKG501B IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES To achieve competency in this unit you must complete the following assessment items. All tasks must be submitted together. Tick the boxes to show that each task is attached. * Task 1. Short answer questions ☐ * Task 2. Research report ☐ NOTE: If this is a group assignment, each member of your group must individually submit a separate and complete copy. Student ID | Student Name | Click here to enter text. | Click here to enter text. | The other members of my group are: 1. Name:Click here to enter text. Student ID#:Click here to enter text. 2. Name:Click here to enter text. Student ID#: Click here to enter text. 3. Name:Click here to enter text. Student ID#: Click here to enter text. | PLEASE NOTE: SECTIONS HIGHLIGHTED IN THIS COLOUR ARE FOR TRAINER USE TASK 1 MARKING SHEET Did the candidate | Competent | | Yes | No | Answer all questions and address all of the requirements specified in Assessment Task 1? | ☐ | ☐ | TASK 2 MARKING SHEET Did the candidate: | Competent | | Yes | No | Provide a research report and deliver a presentation to “stakeholders” addressing all of the requirements specified in Assessment Task 2? | ☐ | ☐ | | ASSESSMENT - SUMMARY | Assessor’s checklist – tick when finalized | Task 1☐ | Task 2☐ | Task 3☐ | | ASSESSOR’S GENERAL COMMENTS (see individual tasks & marking guides for more detail) | Assessor...
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...Identify and evaluate marketing opportunities Before you identify marketing opportunities, you should analyse the market and business needs. A lot of research (both quantitative and qualitative) can be found in the case study. Find the research in the case study and summarise or extract key points in the table below (page 4). Customer preferences(page 17 of the case study) | * Price is important when replacing items * Australian made products are important to the majority of new builds * All customers are happy to pay for delivery if purchasing online | Market trends and developments(pages 12 – 13) | * Customers are looking for high quality and unique items * High population growth in the Queensland area * | Competition(page 15) | * The Yard – limited selection, high priced, * BBQS R US – broad range, cheaper products, * Outdoorz – mass market and a good sales price, extensive adverting * Local independent competition- low priced and a large market share | Profitability and sales figures(pages 5, 21) | $6677,000 gross profit$4884,714 total expenses1792,286 Net Profit 2011 sales – total revenue $9973,000 * Gross profit on sales $4804,000 | Sales forcast` | 2012 - $11000000 – Gross Profit - $51100002013 - $12000000 – Gross Profit - $ 65000002014 - $15000000 – Gross Profit - $7500000 | The Marketing Manager has asked you to assess two potential new markets and consider them in terms of likely contribution to the business (page 27). ...
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...ASSESSMENT BSBMKG501B - Identify and evaluate marketing opportunities BSBMKG502B – Establish and Adjust the Marketing Mix Assignment By Aliomar Miranda Filgueira Galvão Student’s I.D. number: A106588 Table Contents 1. Introduction 3 2. Evaluation 4 3. Swot Analysis 7 3.1 Conclusion 8 4. Marketing Plan 9 4.1 Product 9 4.2 Price 9 4.3 Place 10 4.4 Promotion 10 4.5 Features and Benefits 10 5. Conclusion 12 Reference 13 1. Introduction Australian domestic airlines industry has recently had a major change in competitiveness when Virgin Blue entered on the market. Their low cost fares strategy quickly captured 25% of the market share. Analysts have predicted that Virgin Blue would grow to reach a third of the market until next year. The success of the Virgin Blue’s new business model is based on the balance between affordable airfares and company’s profitability. This model leaded to a new consumer behavior, forcing QANTAS to study the new market niche and consequently study the feasibility of opening a new low-cost airlines. The aim of this study is to propose to the creation of a new company for Australian domestic airline called KOALA AIRLINES. Two questions must be answered by the study: first, how will this new airline affect QANTAS business? Second, should we undertake this opportunity? 2. Evaluation Some initial questions...
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...BBQfun (simulated business) Table of contents Chapter 1 – Business plan (excerpt) 2 Chapter 2 – Organisational chart and management profiles 3 Chapter 3 – Management responsibilities 4 Chapter 4 – Budget summary 5 Chapter 5 – Operational plan 6 Chapter 6 – Description of operations 9 Chapter 7 – Organisational risk register 10 Chapter 8– Marketing plan 12 Chapter 9 – Sales and marketing policy 24 Chapter 10 – BBQfun Privacy Policy 26 Chapter 11 – Anti-discrimination policy 30 Chapter 12 – Procurement policy and procedures 31 Chapter 13 – List of preapproved suppliers 36 Chapter 1 – Business plan (excerpt) Chapter 2 – Organisational chart and management profiles BBQfun organisational chart Chapter 3 – Management responsibilities Pat Mifsud, CEO Pat is responsible for working with the Board of Directors to oversee the business, set overall strategic directions, manage risk, and authorise large financial transactions. Riz Mehra, Chief Financial Officer Riz is responsible for preparing quarterly financial statements and overall budgeting. Riz is also responsible for overseeing budgets for cost centres and individual projects. At completion of financial quarters and at the end of projects, Riz is responsible for viewing budget variation reports and incorporating information into financial statements and financial projections. Kim Chen, Operations General Manager Kim is responsible for the day-to-day running of the company. Kim oversees the...
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...Identifying quantifiable elements to evaluate, monitor and control your marketing plan begins with establishing goals. Establishing quantifiable goals that must be met within a certain time frame gives you context within which to evaluate whether your marketing campaigns are bringing in enough leads or sales. Based on whether you are on track to meet your goals or not, you can adjust your plan accordingly. In most marketing plans, the quantifiable elements are the number of new leads or sales brought in. Step 1 Set quantifiable goals for your marketing plan. Common goals include increasing brand awareness, store or website traffic and the number of leads or sales. Step 2 Create new marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing plan. Step 3 Review last year's sales records so you have something to which to compare this year's sales. An increase in leads or sales over last year's numbers will indicate that your current marketing campaigns are working. Step 4 Set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals. Common metrics include number of click-throughs on an online ad, number of new sales, number of new leads or percent increase in traffic to the store. It's okay if the metrics directly mirror your goals because campaigns are only run to help you reach your overall goals. Step 5 Analyze the results of each campaign based on your metrics. Determine whether...
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...1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since the 1990s, Samsung has increasingly globalized its activities and electronics, particularly mobile phones and semiconductors, have become its most important source of income.2 Marketing Orientation In a market -oriented company customer is truly the king, as the marketing process revolves around the needs and demands of the customers. The customer is the heart of the business and all the strategies and activities are implemented keeping the customers in mind. After finding the needs and wants of the customer a marketing strategy is implemented based on the marketing research of an organization, as markets continuously change, the marketing orientation is a continuous and ongoing process. Market orientation is the implementation of the marketing concept. Being marketing oriented is more than just being customer-led. It requires the full support of the organization to be fully implemented in the long term and, indeed, may need a complete change in an organization’s culture. Market orientation is usually defined as the...
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...Evaluate the extent to which Marks and Spencer has benefited from its marketing planning Marks & Spencer’s are a company that have been that suffered a bad year in 2003/04 as they suffered a 10% fall in sales of their clothing. Their additional priority was to kick-start the autograph range in which they received good reviews but unfortunately they were too expensive being mostly over £100. With regards to their products, products of Marks and Spencer are designed according to the demands, needs and preferences of customers. To identify the demands, needs and preferences of customers, Marks and Spencer focuses on the core customers which they knew but then decided to take a risk and merge into a new market with Per Una and Per Una Due range. Company serves its core customers as well as its new customers by providing them distinguishing products. Per Una is a successful brand of the company which has satisfied the needs of customers. This brand has produced remarkable profits for the company. It was launched in 2001 but unfortunately the market of 2003/04 showed a drop in demand because of their prices. If more market research was carried out it could be seen that the customers will not be willing to pay £100 or more for an item of clothing. In regards to benefitting from marketing planning, they could have possibly gained if they were able to produce a product that could be sold which they did with the Men’s range in which its market share increased from 10.3% to 10.5%...
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...D1: Evaluate the effectiveness of the use of techniques in marketing products in one organisation. Growth Strategies Marketing Technique | Summary of how Cadburys have used this strategy | Has it been effective? | Evaluation of its effectiveness for Cadburys. | Market Penetration | Cadburys use adverts, promotions, completions, etc. to boost their sales in their current markets | yes | This has been effective for Cadburys because their sales from the end of 2013 their famous Dairy Milk bar topped the UK’s top chocolate sales. After the Olympics they saw their value sales grow by 5.1% because of their Olympic promotions and competitions but, at the end of 2012 they saw they’re sales drop, this was due to women buying less chocolate. But at the beginning of 2012 they had sales of £257m after they were bought by Kraft. In 2007 Cadbury’s spent £6m on their Gorilla advert, it was a real hit with 58000 viewers at home taking the time to watch the full-length video as well as the parody of the advert which then saw the sale grow from 2% the previous year to 7% which was outside their target percentage which was 4-6%.the advert was also voted favourite advert of the year (taken fromhttp://news.sky.com/story/581641/gorilla-helps-drum-up-cadbury-sales). They then came up with the dancing eyebrows advert which was viewed on YouTube and similar site more than four million times along with a trucks advert. With these adverts, all the adverts gave a master brand payback 171% greater...
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...Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. In: Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. Introduction Children form a significant consumer group in their own right and, in addition, influence the purchasing choices of their families and friends. They represent a huge market offering significant financial returns to companies. Children are also the adults of the future so building a strong bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for...
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...Assessment Task 2 BSBMKG501B Identify and evaluate marketing opportunities Individual case study assignment 1.Lists ways that Dell conducts research on its customers to continually improve products and services? Customer Advisory Panel (CAP) Days Customer Spotlights on Dell.com 2.What are the features of Dell's research? Customer Advisory Panel (CAP) Days are an example of how Dell can continually learn from our customers. When we visited with customers during the CAP Day sessions, some were unhappy; others were thrilled. All seemed delighted that we invited them to Dell for an open discussion around their IT issues. We’re glad to see other positive reactions to the event and encouraged that the dialog continues at #DellCAP on Twitter. Dell will hear directly from customers about the kinds of things they use their systems for, what they like about it and see the configuration they use to get things done. Other initiatives underway include a pilot of a 24/7 chat service in the U.S. and other countries where chat seems more popular over traditional phone service, redesigning support.dell.com, revamping of extended warranties, and a redesign of the Dell.com online configurator experience to name a few. The scope and direction of these initiatives – and others – are shaped by what we hear from customers. Dell looks forward to sharing progress on them in upcoming conversations. 3.What is Dell's unique selling point? • Biggest PC maker in the world. • They deal directly...
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...Evaluate ways in which David could assess how PCL’s marketing activities assist in the achievement of its business objective. (13) Marketing is the management process that identifies, anticipates and satisfies customer needs profitably. It ensures a business has the right product, at the right place, at the right time and at the right price. If David wants to assess whether something works the best way to find out is through market research. Market research can be used to evaluate the success of marketing activities that David has already conducted, this will allow him to see whether they are helping the business achieve their objective. There are two methods of market research which are primary and secondary, primary research is research that has not yet been conducted and have to be done by the business, this is a more expensive and time consuming method of research but gives more specific results as the business can find out exactly what they want to. Secondary research is research that has already been conducted which means it is usually free and a lot less time consuming that primary research, although it may be hard to find the specific research data you wanted and the data may not be up to date. PCL’s current objectives are to meet their business principles and increase demand, increasing demand is not specifically mentioned in the case study as an objective but he is looking to take over another business and question two of the exam asks to discuss the appropriate pricing...
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...bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for Culture, Media and Sport, Tessa Jowell MP, asked the British Office of Communications (OFCOM) to consider proposals for strengthening the rules on television advertising of food aimed at children, with new restrictions put in place in 2007. Economic - In the US, companies are estimated to spend $17billion a year marketing to children, (1) an increase from the $100 million spent in 1983. (2) A de facto recognition of the great economic value children represent. Social – Marketing to children and young people has become a topic for debate. Societal attitudes regarding this are strong. Campaigns lobbying governments are high profile and regularly call for changes and greater regulation. Technological – Changes in marketing methods through technological innovations are making access to children easier and without the same restrictions of...
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...Burger King Company overview Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties in 1955, its two Miami-based franchisees, David Edgerton and James McLamore, purchased the company and renamed it Burger King. Over the next half century the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010 3G Capital of Brazil acquired a majority stake in BK in a deal valued at $3.26 billion (USD). The Burger King menu has evolved from a basic offering of burgers, french fries, sodas and milkshakes in 1954, to a larger, more diverse set of product offerings. In 1957, the Whopper was the first major addition to the menu; it has since become Burger King's signature product. Conversely, BK has introduced many products which failed to catch hold in the marketplace. Some of these failures in the US have seen success in foreign markets, where BK has also tailored its menu for regional tastes. After the purchase of the company in 2002, Burger King began to aggressively target the 18–34 male demographic with larger products that often carried correspondingly large amounts of...
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...1. Heavy stylistic editing - hope you don't mind. Title:Take care of your buddy! Eat, eat, eat! Nowadays, many teens are overweight and unfit. Numerous surveys have found that more and more young people suffer from obesity, which increases one's chances of getting diabetes and puts one at risk for heart problems later on. Losing weight isn't just about appearance -it's about health. Lack of participation in sports is a major problem that causes teenagers to be overweight. If you don't burn up calorioes, they will accumlate in your body, causing you to gain weight. Unfortunately, most young people love playing video and computer games more than sports. Of course, the intake of calories cannot be ignored, and obesity is the eventual result. Another cause of obesity is the high content of calories in the diet. Eating too many calories is harmful as they will create fatty deposits in the blood vessels. This leads to obesity and heart diease. For youngsters under stress due to heavy loads of school work, eating candies and snacks are a common method to relieve pressure. However, it is unwise because candies and snacks cause you to gain weight easily. In fact,we can only use one rule to solve the problem-the rate at which you burn calories should always be greater than the rate at which you comsume them! Playing sports is a good method of losing weight. Besides,you will feel more comfortable after playing sports. You can think of it as a relaxing practise to relieve...
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...Reflect and Evaluate Cinnamon Lakeside’s Marketing Principles With regard to Coursework 1, we were required to make a presentation on our analysis of the marketing performance of a brand of our choice. The brand we based our presentation on was “Cinnamon Lakeside”. The purpose of this essay is to identify, evaluate and reflect upon the principles of marketing as a whole and also those of the chosen brand i.e. Cinnamon Lakeside. Principles of Marketing The term “marketing” is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (AMERICAN MARKETING ASSOCIATION, 2013). I have come to understand that marketing refers to the collection of activities performed by a business in order to carry out commodity exchange effectively and acquire and maintain customer relationships. In turn I have understood “marketing principles” to be the concepts and ideas according to which marketing activities are carried out. It is apparent to me that the principles of marketing (including those of Cinnamon Lakeside) revolve around the 4 P’s (and 7 P’s in the service industry including Cinnamon Lakeside). I have also come to a realization that while Porter’s five forces, PESTEL analysis and SWOT analysis are indispensable in the field of marketing they do not qualify as principles of marketing. They are tools used in the analysis of the current state...
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