Marketing assessment part 1.
ASSESSMENT 1 BRIEF Subject Code and Title MKT600 Marketing Assessment Assessment 1: Situation Analysis Individual/Group Individual Length 2000 words (+/- 10% excluding cover page, table of contents, executive summary, references and appendix). Learning Outcomes This assessment addresses the following subject learning outcomes: a) Apply relevant underpinning theories and principles of practical marketing strategies b) Critically evaluate client needs with regard to the creation of value for the organisation Submission Due 23:59 (AEST/AEDT) Friday by the end of Module 3.1 (Week 5) Weighting 30% Total Marks 30 marks Objectives: • To develop an understanding and appreciation about the influences of micro and macro environmental forces on an organisation's ability to serve the needs of its target market; • To develp critical analytical ability to gather and analyse relaevant data to facilitate decision making; • To develop foresights to predict industry trend and tailor the organisation's practices to respond to the changing situation. How the assessment fits into the subject/course: Marketing in the 21 st Century has profoundly evolved and is a critical component of business administration. The design of marketing plans is integral to business organisation and the assessment for this subject aims to provide students with the opportunity to apply the knowledge of developing effective marketing strategies. This assessment requires the students to analyse market trends before developing a marketing strategy. There is a short scenario for students to address the assessment tasks. MKT600_Assessment 1_Situation Analysis Page 1 of 6 Linkages between Assessments 1 and 2: Assessment 1 requires students to undertake the SWOT analysis of their chosen organisation. In doing so, students are referred to consult the IBISWorld database through Torrens Library to do the preliminary research to specify an industry and an organisation wtihin the given industry that they intend to write their assignments. Students can also select an organisation from their home country or elsewhere but need to ensure that they have access to the data that they need to work on their assignments. Students are expected to summarise the situation anlysis from their assessment 1 while discussing this section within the marketing plan in the assessment 2. Instructions: This assessment task requires you to develop a Marketing Environmental Analysis that comprises both the micro-environment and macro-environment. The micro-environment analysis involves a scrutiny of internal environment that facilitates specifying the strengths and weaknesses, while, the macro-environment analysis requires the scrutiny of PESTLE dimensions which will assist in specifying the oportunities and threats. Changes within the macro environmental forces are outside of an organisation's direct control requiring an organisation's marketing strategies to be adjusted to capture emerging opportunities and minimise any potential threats. Therefore, in this assessment task you will need to: • Demonstrate your learning about marketing concepts and principles covered so far and allow yourself to demonstrate your level of understanding of them. • Analyse the link between marketing practice and marketing theory • Demonstrate research skills to reveal the insights • Apply appropriate business report writing skills • Use the appropriate citation of references and a reference list in your written work. It is essential that you use the appropriate APA style for citing and referencing research. Please see more information on referencing here: http://library.laureate.net.au/research_skills/referencing • Discuss appropriate strategies aligning to your market analysis. Scenario: Choose an organisation intending to expand either through a new product development or a new business/market development. Tasks: 1. Discuss the background of your chosen business/organisation 2. Analyse the microenvironment (the relevant publics, the suppliers and the marketing MKT600_Assessment 1_Situation Analysis Page 2 of 6 http://library.laureate.net.au/research_skills/referencing intermediaries). 3. Summarise the likely competitors, what they offer and who they seem to target 4. Analyse the macro-environment. What are the society-wide influences on your chosen organisation? Are there demographic, economic, natural, technological, political, or cultural trends that will affect the business of your chosen organisation? Note: Take the time to find good quality references to support your ideas, suggestions and explanations using marketing theory in your report. Use relevant headings/sub- headings, as you must write a formal document. Submission Instructions: Submit your assessment via the Assessment link in the main navigation menu in MKT600 by the end of the Module 3.1 on Friday in week 5. Please review TUA overdue policy in page 10 throuogh the link copied below which applies 10% deduction for each day up to FIVE days and then 0. https://learn-ap-southeast-2-prod-fleet01-xythos.s3-ap- southeast-2.amazonaws.com/5c07149a959f5/4332951?response-content-disposition=inline%3B% 20filename%2A%3DUTF-8%27%27TUA%2520PL_AC_004%2520Assessment%2520Policy%2520for% 2520Higher%2520Education%2520Coursework%2520and%2520ELICOS.pdf&response-content- type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20190420T020849Z&X- Amz-SignedHeaders=host&X-Amz-Expires=21600&X-Amz- Credential=AKIAIW5OVFIUOTV36DNA%2F20190420%2Fap-southeast-2%2Fs3%2Faws4_request&X-Amz- Signature=43e06ce9d0c1a38ba5e189c2c7c1e7510afe6a62311985d4e454f15e8b9d1a63 MKT600_Assessment 1_Situation Analysis Page 3 of 6 Summarise strengths, weaknesses, opportunities and threats using the SWOT matrix. Use the SWOT/TOWS matrix and discuss appropriate strategies to capture opportunities, defend threats and overcome weaknesses. 5. Marking Rubric: Assessment 1 Assessment Fail (Unacceptable) Pass Credit Distinction High Distinction (Functional) (Proficient) (Advanced) (Exceptional) Attributes 0-49% 50-64% 65-74% 75 -84% 85-100% Limited understanding of Resembles a recall or Supports personal opinion Discriminates between Systematically and critically key concepts required to summary of key ideas. and information assertion of personal discriminates between support discussion substantiated by evidence opinion and information assertion of personal Evaluation of information gathered to support the arguments Often conflates/confuses from the research/course substantiated by robust opinion and information Confuses logic and assertion of personal materials. evidence from the substantiated by robust 15% emotion. Information opinion with information research/course materials evidence from the taken from reliable substantiated by evidence and extended reading. research/course materials sources but without a from the research/course and extended reading. coherent analysis or materials. synthesis. Information is taken from 15+ good quality sources with and demonstrates a capacity to explain and apply relevant concepts. Analysis and evaluation do Viewpoints of experts are not reflect expert Identify logical flaws. taken as fact with little judgement, intellectual Information are gathered from 20+ good quality sources with a well- demonstrated capacity to explain and apply relevant concepts. questioning. independence, rigor and Questions viewpoints of adaptability. experts. Viewpoint of experts are subject to questioning. Information are sourced from 30+ good quality sources with a high level of interpretation/evaluation to develop a comprehensive critical analysis or synthesis. Analysis and evaluation Identifies gaps in reflect growing judgement, knowledge. intellectual independence, rigor and adaptability. Exhibits intellectual independence, rigor, good judgement and adaptability. Effective Difficult to understand for Information, arguments and Information, arguments and Information, arguments and Expertly presented; the Communication audience, no logical/clear evidence are presented in a evidence are well presented, evidence are very well report is logical, persuasive, structure, poor flow of way that is not always clear mostly clear flow of ideas and presented; the report is and well supported by 20% ideas, argument lacks and logical. arguments. logical, clear and well evidence, demonstrating a supporting evidence. supported by evidence. MKT600_Assessment 1_Situation Analysis Page 4 of 6 Line of reasoning is often Line of reasoning is easy to clear flow of ideas and Audience cannot difficult to follow. follow. Demonstrates cultural arguments. follow the line of sensitivity. reasoning. Demonstrates use of Demonstrates use of high Demonstrates use of good Engages and sustains credible and relevant quality, credible and relevant quality, credible and audience’s interest in the Demonstrates resources to support and resources to support and relevant resources to topic, demonstrates high inconsistent use of develop ideas, but these develop ideas. support and develop levels of cultural sensitivity good quality, credible are not always explicit or arguments and statements. and relevant resources well developed. Shows evidence of wide Demonstrates use of high- to support and develop scope within the quality, credible and ideas. organisation for sourcing relevant resources to evidence. support and develop arguments and position statements. Shows evidence of wide scope within and without the organisation for sourcing evidence Effective use of diverse presentation aids, including graphics and multi-media. Critically evaluates Some relevant Relevant suppliers, Thorough review of Systematically and suppliers, intermediaries and relevant suppliers, critically reviews intermediaries and publics are mostly intermediaries and relevant suppliers, publics are identified. identified. publics. intermediaries and Does not display an understanding of the Microenvironment (e.g., intermediaries, suppliers, publics). publics. Some potential Potential challenges are Good discussion of client needs with regard to Microenvironment actors – Suppliers, intermediaries, publics, customers etc. Sensible challenges challenges are mostly identified. potential challenges, Systematically and are not presented. identified. supported by sound critically discusses 20% arguments and/or potential challenges, good sources. supported by sound MKT600_Assessment 1_Situation Analysis Page 5 of 6 MKT600_Assessment 1_Situation Analysis Page 6 of 6 arguments and/or good sources. Critically evaluates Superficial review of the PESTLE dimensions. Good discsussion on the PESTLE dimensions has been provided with good relevant data/ information to support the arguments. client needs with regard to Macroenvironment - PESTLE Provides a satisfactory discussion of the PESTLE dimensions. Thorough research on the PESTLE diemensions reveals relevant data/ information. The discussion is presented in a logical and systematic approach. Critically evaluates the data/information gathered on the PESTLE dimensions. The discussion is presented with strong arguments and substantiated with relevant data as well as demostrates the potential effects on the business. No or little consideration of influenences of the external environment. Satisfactory relevant data/information provided to substantiate the discussion. 20% Critically evaluates the business's overall situation to list out strengths, weaknesses, opportunities and threats and discusses appropriate strategies to draw on the strengths to capture opportunities, defend from threats and overcome weaknesses Discussion is not relevant to client Some relevant factors Mostly relevant factors discussed to specify strengths, weaknesses, opportunities and threats while appropriate strategies to draw on the strengths to capture opportunities, defend from threats and overcome weaknesses not well articulated. Good discussion of internal and external environment analysis leading to list out the strengths, weaknesses, ooportunities and threats and appropriate strategies to draw from the strengths