...Diploma of Business | |Unit Code & Title: |BSBMKG501B: | | |Identify and evaluate marketing opportunities | |Assessments Type |Report Writing & Presentation | |Assessment No: |One | |Delivery and Assessment Mode(s) |Classroom | |Term |One | |Unit Duration |Three Weeks | Assessment 1-Report Writing & Presentation BSBMKG501B Identify and evaluate marketing opportunities BSB50207 Diploma of Business Version 2.1 Australis Institute of Technology and Education ABN 17 120 701 911 Address Level 2, 25 George St, Parramatta, NSW 2150 AUSTRALIA P +61 2 9633 1222 F +61 2 9633 1888 E info@australisinstitute.nsw.edu.au W www.australisinstitute...
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...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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...SWOT Analysis SWOT is an acronym used to describe the particular Strengths, Weaknesses, Opportunities, and Threats that are strategic factors for a specific company. A SWOT analysis should not only result in the identification of a corporation’s core competencies, but also in the identification of opportunities that the firm is not currently able to take advantage of due to a lack of appropriate resources. The SWOT analysis framework has gained widespread acceptance because it is both simple and powerful for strategy development. However, like any planning tool, SWOT is only as good as the information it contains. Thorough market research and accurate information systems are essential for the SWOT analysis to identify key issues in the environment. Assess your market: * What is happening externally and internally that will affect our company? * Who are our customers? * What are the strengths and weaknesses of each competitor? (Think Competitive Advantage) * What are the driving forces behind sales trends? * What are important and potentially important markets? * What is happening in the world that might affect our company? * What does it take to be successful in this market? (List the strengths all companies need to compete successfully in this market.) Assess your company: * What do we do best? * What are our company resources – assets, intellectual property, and people? * What are our company capabilities (functions)? Assess your...
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... 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 BSBMKG501B Identify and evaluate marketing opportunities © 2012 Innovation and Business Industry Skills Council Ltd 2nd edition version: 1 Page 1 of 36 Assessment Materials BBQfun (simulated business) Chapter 1 – Business plan (excerpt)...
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...(1211347) Management Decision Problem: To evaluate the market opportunity for IKEA in Bangalore, India Marketing Research Problem: 1. To assess the opportunities for furniture industry in Indian market 2. To identify the segments and target market relevant to the product line of IKEA 3. To determine the branding and positioning strategy for these target segments 4. To evaluate the sustainable competitive advantage of IKEA in Indian market 5. To evaluate the effectiveness of the IKEA retail concept in Indian market Components of MR problem: S.No. | Marketing Research Problem | Components of the problem | 1. | To assess the opportunities for furniture industry in Indian market | i) How attractive is Indian market to invest in furniture industry? ii) Evaluation of Indian organized and unorganized players and their unique features in the market | 2. | To identify the segments and target market relevant to the product line of IKEA | i) What is the customer profile in Bangalore w.r.t age, income, marital status, occupation and socio economic classification? ii) Who are the potential customers for the IKEA products? iii) What are the behavioral characteristics of the targeted customers? | 3. | To determine the branding and positioning strategy for these target segments | i) How do customers perceive and prioritize the key attributes of furniture items? ii) How customers evaluate the existing brands with respect to key attributes...
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...Identify marketing research methods in order to obtain and analyse market and competitive data Marketing Research is " the function that links the consumer, customer, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process(Brisber,2009) On the questioning- Qualitative marketing research generally used for exploratory purposes - small number of respondents - not generalizable to the whole population - statistical significance and confidence not calculated - examples include focus groups, in-depth interviews, and projective techniques ▪ Quantitative marketing research - generally used to draw conclusions - tests a specific hypothesis - uses random sampling techniques so as to infer from the sample to the population - involves a large number of respondents - examples include surveys and questionnaires. ▪ Techniques include choice modelling, maximum difference preference scaling, and covariance analysis. on observations: ▪ Ethnographic studies -, by nature qualitative, the researcher observes social phenomena in their natural setting - observations can occur cross-sectionally (observations made at one time) or longitudinally (observations occur over several time-periods) - examples include product-use analysis and computer cookie traces. See...
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...Market Analysis Aim and Objective The object of the market analysis is to identify high yield consumer segments for the outlook period (normally 3-5 years). In order to do this, it is necessary to evaluate consumption trends with a view to isolating market-based opportunities. Once high yield segments have been identified, the analyst seeks to identify value opportunities for each segment. This stage involves matching segments with products and services so as to assist with resource allocation. The market analysis is a discrete unit of analysis with a clear introduction, body and conclusions. This means that the market analysis should be capable of being understood as a stand-alone unit. Equally, it should also be capable of contributing to a broader understanding of the focal company and the ways that it might consider leveraging observed trends in the operating environment. Fig 1 Strategic Segmentation Process Relationship between Market Analysis and Situation Analysis The market analysis will be used to identify: • Market Based Opportunities and threats • Growth markets • Market Gaps • High Yield Segments (which will become the subject of the customer audit) Market Based Opportunities and Threats must examine both current and potential consumer markets. No assumption about the market served should be made in the first instance. Although a company may have a clearly defined target market, we cannot assume that this target...
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...Task Approaches To evaluate the current market for bicycles, and identify the size and growth rates of the key product segments This is desk research. Topics to investigate: What is the installed base of UK bike ownership? • This will give you some idea of the replacement market • How many people use a bike to get to work might give a handle on this. How many bikes are sold per year? Sources: • ONS production and import data • Market reports such as Data Monitor Mintel • Annual reports of Halfords Market segmentation • How is the bike market segmented? o By price, customer, features, by outlet? • Segment the market and identify the characteristics of each segment you identify; where it is sold, what market share, what end user price? The focus is on the UK market, but you might also sketch out in general terms the opportunity in the rest of Europe or elsewhere. • Use ratios to estimate this population? GDP? To determine the potential for a new range of electrically assisted bicycles based on new battery technology Evaluate where this type of bike fits into your segmentation. • What should be the specification of your proposed market entry? Features, price • What is your estimate of market sales for this type of product? • Would it make a sensible possibility for a company such as Cyclermate? To understand the routes to market and margin structures of the channels This requires an analysis of the structure of distribution of bikes in the UK. • How...
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...WHAT IS SWOT ANALYSIS? SWOT analysis (alternately SWOT Matrix) is a strategic planning method used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a project or in abusiness venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500companies. Setting the objective should be done after the SWOT analysis has been performed. This would allow achievable goals or objectives to be set for the organization. Strengths: characteristics of the business, or project team that give it an advantage over others Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others Opportunities: external chances to improve performance (e.g. make greater profits) in the environment Threats: external elements in the environment that could cause trouble for the business or project Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must...
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...coursework is supposed to be structures as a report. Don’t explain what each model is about. Don’t discuss on the models. Just implement them for the company/ industry/ market you have selected, always trying to adopt the correct perspective for each one of them. THE REPORT SHOULD FOLLOW: Executive Summary: The last to write. In ten lines, summarize everything you have done in your coursework. Imagine that I am your manager and I don’t have time to read your report. In these 10 lines you have to make me understand what you have done in total. Introduction: Write a few lines about the company. What the company is about? What is the company’s size and area of activity? What is the vision/ mission/ main strategic goals of the company? In which industry(-ies) it belongs? Which market(s) it targets? Corporate Strategy is the Strategy shaped for the company as a whole. However, I am giving you the opportunity to choose just one market and/or one industry to analyse. For example, if you had to analyse ‘Samsung’, you could create a strategic review for Samsung as a globalized company (all industries and markets included) or you can just choose to analyse the industry of ‘smart phones’ in the US market. In any case, it would have been good for your report to state in your introduction what will be the industry and the market you will analyse and keep the same scope for all models after this point. Analysis of External Environment: This part should include: PESTEL Analysis: How...
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... |Completion date |Submitted on | |13.2.2016 |28.5.2016 | | | | | |Assignment title |Personal and Professional Development | |Learning Outcome | |Assessment |In this assessment you will have the opportunity to present evidence that shows you |Task no. | | |Learning Outcome |Criteria |are able to: | | |LO1 |Understand how selfmanaged |1.1...
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...1. INTRODUCTION A strategic management audit is a technique of measuring the organization's performance. It helps to evaluate the performance of management team. An audit of management performance with regard to external strategies helps to identify problem areas and correct strategic approaches that are not effective. An assessment of the external environment shows where change has happened and where strategic management no longer matches the demands of the marketplace. Thus the organization can improve business performance by periodically conducting such an audit (http://smallbusiness.chron.com/conduct-external-strategic-management-audit-67898.html) External strategic management audits provide management with both insight and preparation for the changing marketplace, it helps finding hidden opportunities and reducing the impact of future threats in a rapidly changing business environment through identifying and evaluating trends and events that are beyond the control of an organization, such as increased foreign competition, population shifts, an aging society, information technology, and the computer revolution. An external strategic management audit reveals key opportunities and threats (the OT portion of the SWOT Analysis) confronting an organization, so managers can formulate strategies to take advantage of the opportunities and avoid or reduce the impact of threats (www.freeessays123.com/.../externalstrategic.html). 2. CONDUCT AN EXTERNAL STRATEGIC MANAGEMENT AUDIT ...
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...Cyclermate Phase 2 – Some suggestions on how to approach the tasks This is primarily an exercise in Marketing and Product Planning Sir Claude is extremely excited about the future of electric bicycles after seeing this clip http://www.youtube.com/watch?v=sXhhWXw9V7A and has issued an urgent directive to the team to scope out the market opportunity for this type of product. On the other hand, if your team concludes that the electric bike opportunity is not viable (you need to explain your reasoning), you need to suggest an alternative market strategy that the company should adopt. This will also require you to identify volume, prices and channels in the same detail as you would for the electric bicycle. One of the key problems you will encounter is that you will not find precise answers to the questions you need to answer. Therefore the skill required is to assemble useful facts and use these to build a set of reasonable assumptions. These probably will be best estimates supported by a set of thoughts which limit the possible forecast range. This is probably the hardest skill to develop in marketing and you will need to explain how you have arrived at your results. This requires you to:- 1. Document the data sources you have used using Harvard referencing 2. Explain the steps and assumptions you have made from the source data to your projections 3. Write up these clearly in your supporting material to your presentation (note form is entirely appropriate) The following...
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...interest in a consulting career with us suggests that you may be one of those people, and we have designed our interview process so that you will have every opportunity to show it. The A.T. Kearney interview sequence consists of two rounds, typically completed within a 3-week period. The first includes two 45-minute interviews conducted back-to-back on campus or in another convenient location. The second, which normally takes place at our nearest office, involves three 45-minute meetings with one or more of A.T. Kearney’s senior people. If you are invited to complete the full sequence, you can expect that both interviews in the first round and two in the second will be case-oriented. This means that in addition to discussing our firm and your future it, the A.T. Kearney consultants you meet will also present you with real-world business problems and ask you to develop solutions. Experience shows that the applicants who are the most successful in a case interview are those who enter it with the right frame of mind and the best preparation. The following information is designed to help you achieve both. Why The Case Format? While we look for many qualities in an applicant, the most important is his or her ability to think and communicate as we believe a successful consultant should. A case interview offers you the opportunity to demonstrate your consulting potential. The case format is a simulation in which your interviewer, in the role of client, presents you with a complex business...
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...content relating to each section of report report structure analysis of language structures & cohesion models of integration of sources and referencing Directives tell you what to do with content and are closely associated with purpose of different sections in case study report. Importance of understanding precise meanings of key directives to meet task requirements. (Communication Skills Guide p22) Analyse Explain Justify Evaluate A. Present an informed assessment of something to judge how important/valuable it is B. Break down into main parts/important features. Discuss each &how they relate to each other • Evaluate firm‟s current situation (macro & micro) Context? What‟s happening & why? C. Give the „why‟ and / or „how‟ with clarifying cause and effect reasons from the case D. Give reasons with supporting • Identify problems & opportunities Issues? What does this mean now/in future? • Identify relevant concepts & theories to explain the above problem & opportunities • Interpret implications of these problems &...
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