...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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...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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...Competency Being Assessed Identify and evaluate marketing opportunities The purpose of assessment is to collect evidence in order to determine if a learner has achieved competency. Assessment provides confirmation that the learner can meet the expected workplace standards as they are outlined in the units of competency. Further unit information can be found at training.gov.au. This task is the first of two assessment tasks for this unit. You are required to analyse the given case studies/scenarios and answer the questions based on these. All questions must be answered and completed according to the following standards. Assessment 1 – Task Instructions This is an individual task. Please follow these steps in order to complete this task: 1. Review the learning materials in each of the modules in the LMS (learning management system) for this unit. 2. Read the case studies/scenarios and questions in the Answer Template. 3. Review the Assessment Guide. Completing the Assessment: 1. Use the Answer Template to type your answers 2. Submit your completed assessment via the assessment link in the learning management system. 3. Complete the assessment in your own words, providing references for any material you have researched. 4. Submit each assessment in the required format. 5. Attach a completed assessment cover sheet with your assessment. 6. Add your electronic signature to the assessment prior to submission. Notes and Support: 1. Holmesglen recommends that...
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...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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...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 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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...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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...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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...recommendations or take charge through implementation of new game plan. 2. Meet all first-reports, introduce game plan and initiate implementation of action items on this list. 3. Have all first-reports complete the Agenda for the Future. 4. Discuss the dozen biggest problems and opportunities from perspective of all first-reports. 5. If survival mode is required, cut costs immediately where necessary and prudent and in accordance with the Board's short and intermediate term goals. 6. Identify and implement top six action items that could measurably increase short term revenues. 7. In addition to this action list, formulate short-term game plan for company, get board approval and communicate plan to key personnel, suppliers, lenders, etc. 8. Prioritize top ten action items for the whole company and begin implementation. 9. Identify top goals for the company for the current month, quarter and year. Financial Issues 10. Within the first week, get current detailed financial statements, itemized payroll, payables and receivables list. 11. Review budgets of all departments or divisions for reasonableness of assumptions, quality of projections and relevancy in light of recent corporate changes and goals. 12. Evaluate obvious, and not so obvious, problems and strengths revealed by the financial statements. 13. Do realistic cash forecast for the next 90...
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...example, one would be higher in price, but would give a pass holder free admission to a sister park and entitle visitor discounts at both parks. The lesser priced pass would offer smaller incentives such as discounts, but instead of free admission elsewhere, it would offer free parking, early admission into the park, and a limited “buddy pass.” The most basic pass would still be a great deal, but have fewer incentives. This way, customers not only save money on frequent visits to the park, but they get discounts and free incentives as a bonus. How would you inform people about your program? Nowadays, Facebook is such a wide and well-known social media platform that advertising through an “amusement park” page would be a successful marketing strategy for selling season passes. Since people are constantly “liking” and sharing things they come across on Facebook, the more people that scroll through their newsfeeds, the more people likely to learn about season pass deals. Using Facebook as a platform, I would encourage visitors to share their experiences for other visitors to see and market by creating “product champions.” In conjunction with Facebook, I would also use the typical flyers and television ads, and also market through business such as Credit Unions, to sell discounted season passes to...
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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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...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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