MKT101A- MarketingFundamentals AssessmentDiscussionForumPostIndividual 1000words(+/- 10%)LearningOutcomesAddresseda) Describethemarketing conceptb) Outlineandapplytheelementsofthemarketing process.c) Identifyandexplainthemacroandmicro environmentalfactorsimpactingthemarketingofa businessor industry.d) Demonstrateanabilitytoincorporatenewtrendsto solvemarketingproblemsandapplycommunication skills.
Microsoft Word - MKT101A Assessment 1 brief.docx MKT101AAssessment1Brief20191111 Page1of7 ASSESSMENT1BRIEF SubjectCodeandTitle MKT101A-MarketingFundamentals Assessment DiscussionForumPost Individual/Group Individual Length 1000words(+/-10%) LearningOutcomesAddressed a) Describethemarketingconcept b) Outlineandapplytheelementsofthemarketing process. c) Identifyandexplainthemacroandmicro environmentalfactorsimpactingthemarketingofa businessorindustry. d) Demonstrateanabilitytoincorporatenewtrendsto solvemarketingproblemsandapplycommunication skills. Submission By11:55pmAEST/AEDTSundayofModule2.2(Week4) Forintensiveclass:By11:55pmAEST/AEDTSundayof Module2.2(Week2) Peerresponsescanbecompletedintheweekitisdue and/ortwo(2)daysaftertheduedate. Weighting 30% TotalMarks 100marks Context TheaimoftheAssessedDiscussionForumistoprovideaframeworktoencouragestudent engagement,toencouragecollaborationandtofostervaluableperspectivesgainedfrom sharedlearningexperiences. Theseassesseddiscussionforumspromotecriticalthinkingintheapplicationoftheoryinto practice.Youwillbeabletoreflectonyourownefforts,andextendandenrichthis reflectionbyexchangingfeedbackonyourpeers'work. MKT101AAssessment1Brief20191111 Page2of7 Instructions: 1. SelectaBusiness.Chooseasmallormediumsizedexistingbusinessasaclient.This businesswillbeusedforAssessment1&2.Thisisconsideredasonewithlessthan200 employees.Studentsmayalsoliketoconsiderasmallbusinessintheirlocalarea /neighbourhoodtofocusonorevenabusinessrunbyfriendsorfamily.Thisbusiness mustbebusinesstoconsumer(B2C),basedinAustralia,andcurrentlyoperating. Tipsforchoosingyourbusiness: § Keepyourbusinesschoicesimple.Theideaofthissubjectistoapply,analyseand formulateideasbasedonmarketingtheoriesandconcepts.Ifyoudon’t understandyourchosenbusinessorifit’soverlycomplicated,youwillfindit difficulttoworkwithinthedefinedparameters. § Choosesomethingyouarefamiliarwithandsomewhatinterestedin. § Avoidlargecompaniesandchainstores.Apple,Coca-Cola,McDonalds,Telstra, Holdenforexample,aretoolargeandcomplextoworkwith. Thefocusofthisassessmentisonidentifyingandexplainingthemacroandmicro environmentalfactorsthatcouldinfluencethebusinessortheindustryfroma marketingpoint-of-view.Youshouldalsobeabletoidentifynewtrendsaspartofthe situationalanalysis,inordertoproposemarketingsolutionstopotentialissuesthatmay affecttheclientinAssessment2. « Beforeyougoahead,youmustdiscusswithyourLearningFacilitatoryourchoiceof business.ThisshouldbesentasanemailbeforethecommencementofModule2 2. BusinessBackground.Provideabriefbackgroundofyourbusinessanddescribeitusing the4P’sframework–product,price,promotionandplace.Providealinktothebusiness websiteinthereferencesection. 3. CompetitorAnalysis.Performacompetitoranalysisthatincludesareviewofatleast one(1)directcompetitorandone(1)indirectcompetitor.Inthedirectcompetitor analysis,usethecompetitor4P’sframeworkforameaningfulcomparison. 4. SWOTAnalysis.ConductaSWOTanalysisofyourbusinessusingtheheadings: § Strengths § Weaknesses § Opportunities § Threats Youshouldanalysethebusinessmicro-environmenttodevelopyourdiscussionof strengthsandweaknesses.Alsoconsiderthe4Pintermsofwhatthebusinessdoeswell, andwhereitcanimprove.TheuseofthePESTLEframeworkisurgedtoguideyour MKT101AAssessment1Brief20191111 Page3of7 researchintothemacro-environmentinorderidentifyrelevanttrendsfacingyour business.Thiswillinformyourdiscussionofopportunitiesandthreats. Withinyouranalysis,includeatleast: § 3Internalstrengths § 3Internalweaknesses § 3Externalopportunitiesand § 3Externalthreats 5. PostYourFindings.CompileyourfindingsandpostyourresponsetotheAssessment1 DiscussionForum.Donotuploadorattachafiletoyourdiscussionforumpost.Ifyou havedevelopedyouranalysisinMSWordorsimilar,copyandpasteyourinformation intotheforum. EnsuretoincludeareferencelistusingAPA6thed.Aminimumof4credibleandreliable sourcesshouldbeusedinyourresearch.Youressentialreadingsareaverygoodstarting pointforthereferencelist. 6. PeerFeedback.Afteryoupostyouranalysisinthediscussionforum,youwillthenseeall otherstudentposts.Readandcommentonatleasttwo(2)studentposts.The expectationisthatstudentswouldfamiliarisethemselveswiththeotherstudent’s businesstocreateamoremeaningfulandhelpfulresponse.Whenconstructingyour comments,someareastoconsidermightinclude: § Impressionoftheirworkanditsquality § Identificationofadditionalissuesthatmayberelevant § Suggestionsontrendsaffectingtheirbusinessordevelopmentstheymay havenotconsidered § Generalpositiveandconstructivefeedback § Anygeneralreflectionswhencomparedtoyourownsubmission Note:Asaguide,the1000wordsshouldbeallocatedasfollows:750wordsfortheinitial studentpostand250wordsintotal,forthetwopeerposts. MKT101AAssessment1Brief20191111 Page4of7 SubmissionGuidelines: • Asapreparationstep,itisbesttocreateaseparateMSWordorsimilardocument withyouranalysis • AccesstheAssessment1DiscussionForum,createanewthread,andcopypaste youranalysisintothepost.Donotattachoruploadanyfiles. • Usesuitableheadingsandsubheadingsfortheinformationpresented • Assessmentsshouldnotbewrittenfroma1stpersoncontext,butratherfromthe 3rdpersonperspective.Thatis,“I,we,my,our”arenotacceptable(unlessyouare self-reflectinge.g.whengivingPeerFeedback) • Allclaimsandrecommendationsaretobesupportedbysuitableandrelevant marketingand/ortheoreticalprinciplesandtheirrelevantreferences. • ThediscussionshouldincludeacorrectlyconstructedReferenceListand accompanyingin-textcitationsasperUniversityguidelines(APA6thed. referencingstyle).PleaseseetheAcademicSkillspageinthelearningportalfor informationonreferencinginAPA6thed. • Theuseofanycombinationofnarrative,pointform,diagrams,graphsorcharts includingpresentingtheinformationintableformispermitted–particularlyif thesedevicesreducethewordinessandincreasethe"readability"ofthe submission MKT101AAssessment1Brief20191111 Page5of7 LearningRubric-Assessment1:DiscussionForumPost AssessmentAttributes Fail(Unacceptable) (0-49) Pass(Functional) (50-64) Credit(Proficient) (65-74) Distinction(Advanced) (75-84) HighDistinction (Exceptional) (85-100) Background Providedbackground informationofthe chosenbusinessand product/servicealigned withmarketingconcept. 10% Didnotprovideenough informationofthe chosenbusinessandthe marketitoperatesin. Inadequateinformation. Lackofidentificationof specificproduct/service Limitedattemptto explainthechosen businessandthe marketitoperates in. Basicbackground information provided. Limitedattemptto explainthe product/service Goodattempttoexplainthe chosenbusinessandthe marketitoperatesinusing relevantandup-to-date informationfromalimited numberofreliablesources. Product/service sufficiently explainedwithrelevantand appropriateinformation. Verygoodexplanationofthe chosenbusinessandthe marketitoperatesin. Business’sbackgroundiswell synthesisedandevidenceof researchprovidedfroma varietyofreliablesourcesto establishthemarketing context. Verygoodexplanationofthe product/service. Excellent explanationofthe chosenbusiness andthemarketit operatesin. Business’s backgroundiswell synthesisedand evidenceof researchprovided fromavarietyof reliablesourcesto establishthe marketingcontext. Excellent explanationofthe product/service. CompetitorAnalysis Conductedacompetitor analysisidentifyingat least2competitor productsandidentified Limitedrecognitionand analysisofkey competitors. Didnotidentify competitorsasdirect orindirect Identificationof maincompetitorsas directandindirect withsomekey information providedforeach. Identificationofmain competitorswithrelevant keyinformationprovided foreach.Goodanalysisof eachcompetitor’sactivities. Identifiedcompetitorsas Thoroughidentificationof maincompetitorswith meaningfulinformation providedforeach. Verystronganalysisofeach competitor’sactivities. Sophisticated identificationand analysisofmain competitorswith criticalinformation providedforeach. MKT101AAssessment1Brief20191111 Page6of7 directandindirect competitors 20% directorindirect Identifiedcompetitorsasdirect orindirect. Identified competitors asdirectorindirect SWOTAnalysis Summarisedthemacro andmicro environmentalfactors impactingthemarketing ofabusiness 40% SWOTanalysisdidnot containkeyrelevant internalandexternal factors.Didnotmeetthe briefrequirements SWOTanalysis includedsomekey relevantinternaland externalfactors. Internalandexternal factorsarelimitedto supportmarketing decisions.Metthe minimumbriefs SWOTanalysisincludedkey relevantinternaland externalfactors,however someelementsrequire somelevelofimprovement. Agoodidentificationof internalandexternalfactors thatarerelevanttosupport marketingdecisions. SWOTanalysisincludedkey relevantinternalandexternal factors.Averygood identificationofinternaland externalfactorsthatare relevanttosupportmarketing decisions. SWOTanalysis includedawide varietyofrelevant internaland externalfactors.An excellent identificationof internaland externalfactors thatarerelevantto supportmarketing decisions. Qualityandaccuracyof referencing 10% Lessthan4credibleand researchsourcesused. Somemistakeswithin- textcitationsandthe referencelist. Informationisdifficultto understandforthe audience Atleast4qualityand credibleresearch sourcesused. Limitedqualityand credibleresearch sourcesused. Somemistakeswith in-textcitationsand thereferencelist. Informationisnot alwaysclearand logicaltounderstand fortheaudienceand lacksclearstructure Morethan4qualityand credibleresearchsources used. Limitedmistakeswithin- textcitationsandthe referencelist.Informationis mostlyclearandlogicalto understandfortheaudience Morethan4highqualityand credibleresearchsourcesused fromavarietyofsources. Veryfewmistakeswithin-text citationsandthereferencelist. Informationisclearandlogical tounderstandfortheaudience andwellsupportedby evidence. Excellent engagementofa widevariety(+4)of qualityand credibleresearch sources. Nomistakeswith in-textcitations andthereference list. Informationis logicaland persuasive. Relevantconcepts MKT101AAssessment1Brief20191111 Page7of7 andtheories applied. Verystrongly supportedby evidence. PeerFeedback Providedmeaningful andthoughtful feedbacktoatleast two(2)peer responses. 20% Nofeedbackprovided. Minimalfeedback provided Goodpeerfeedback providedandengagement inthediscussion. Meaningfulanddetailed feedbackprovided.Very goodengagementinthe discussionforum. Meaningfuland detailed feedback provided. Outstanding engagementin thediscussion forum. For my assessment, I have chosen Aussie broadband as my client. Aussie Broadband is an Australian broadcast communications transporter (ISP) that gives web, portable, and other communication administrations to Australians. Australian-claimed, it is situated in Morwell, Victoria, with different workplaces in Lynbrook (Victoria), Warrnambool, Darwin, and far off staff dispersed across Australia. It is perhaps the biggest company in the Latrobe Valley area. The organization was framed in 2008 after the combination of Wideband Networks Pty Ltd and Westvic Broadband Pty Ltd. Its essential center is giving NBN web associations and was the principal telco outside "the Big Four" to commission foundation to each of the 121 Points of Interconnect (POIs) across Australia. Aussie Broadband is the fifth biggest connector of new NBN associations in Australia. In 2020 they received ProductReview Award for the best Internet Service Provider. Client website : https://www.aussiebroadband.com.au/customer/ Client history : https://en.wikipedia.org/wiki/Aussie_Broadband 05/10/2020 Laureate International Universities https://laureate-au.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_94449_1&content_id=_9215957_1&mode=reset 1/6 MODULE 1MODULE 1 Marketing Environment and Marketing Planning Introduction: This module discusses competitive, economic, political, legal and regulatory, technological, and sociocultural forces in the marketing environment. It also explores social responsibility and ethics in marketing and the various dimensions pertaining to it; that is, the economic, legal, ethical and philanthropic dimensions. These macro environmental factors play an important role when creating a marketing plan as they may a�ect businesses direct or indirectly. For instance, changes in legislation could impose additional costs to businesses, which therefore would a�ect production costs and push the company to increase the �nal price. This would a�ect consumers’ buying power, which would force some customers to �nd a substitute at a cheaper price or change the consumption pattern. As a marketer, you need to constantly scan the macro factors and prepare strategies to avoid or minimise their e�ects. This module will provide you with an overview of the macro factors you should consider as a marketer, while preparing you for your �rst assessment. Essential Resources: Pride, W., Ferrell, O., Lukas, B., Schembri, S., Niininen, O., & Casidy, R. (2017). Marketing principles (3rd ed.). South Melbourne, VIC: Cengage. Retrieved from 05/10/2020 Laureate International Universities https://laureate-au.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_94449_1&content_id=_9215957_1&mode=reset 2/6 https://ebookcentral-proquest- com.ezproxy.laureate.net.au/lib/think/detail.action?docID=5474380 Please read chapter 2, pages 39-72. This reading will explain the macro environmental forces in�uencing marketing practice such as competitive, economic, political, legal and regulatory, technological, and sociocultural forces. Understanding these and creating strategies to overcome any negative e�ect or boost the positive outcomes, would help companies to maintain their competitiveness in the market. Please read chapter 3, pages 73-104. This chapter focuses on strategic planning by exploring all the steps of the marketing plan, which will assist you in understanding the processes involved, and support you in creating your own as part of one of the outcomes of this subject. Temple University. (2014, February 19). 'Smellizing' -- imagining a product's smell -- increases consumer desire. ScienceDaily. Retrieved from https://www.sciencedaily.com/releases/2014/02/140219160318.htm This article discusses that if consumers were able to smell, what products such as cookies and cake or any tasty food could work as a more e�ective advertising strategy. Uber. (2019, June 12). Delivering Uber Eats with Drones / UBER [Video �le]. Retrieved from https://www.youtube.com/watch?v=0yMv16p8FO8 Airtasker. (2017, October 19). How Airtasker Works [Video �le]. Retrieved from https://www.youtube.com/watch?v=vRObPjevAUU Steiner-Williams, J. (2014, November 11). Writing the SWOT [Video �le]. Retrieved from https://www.linkedin.com/learning/writing-a- business-report/writing-the-swot?u=56744473 This video reviews the importance of a SWOT analysis by showing di�erent factors that should be considered whilst writing one, which will be useful for you during the situational analysis required as part of the �rst assessment. https://ebookcentral-proquest-com.ezproxy.laureate.net.au/lib/think/detail.action?docID=5474380 https://www.sciencedaily.com/releases/2014/02/140219160318.htm https://www.youtube.com/watch?v=0yMv16p8FO8 https://www.youtube.com/watch?v=vRObPjevAUU https://www.linkedin.com/learning/writing-a-business-report/writing-the-swot?u=56744473 05/10/2020 Laureate International Universities https://laureate-au.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_94449_1&content_id=_9215957_1&mode=reset 3/6 Renault. (2010, March 31). Renault Inside [Video �le]. Retrieved from https://www.youtube.com/watch?v=YUc- c2kjYgI This video will show how analysing the competitors through benchmarking has helped Renault with the design of their cars. It is a great example of a strategy that marketers can adopt to understand the products o�ered by competitors, and how a company can match or beat those products in order to create competitive advantage. Module 1.2 facilitated presentation Optional Resources: The following videos further review the topics covered in the module as well as present relevant additional topics to support your marketing studies. Croft, C. (2018, May 7) PEST [Video �le]. Retrieved from https://www.linkedin.com/learning/management- foundations-advanced-applications/monitoring-the- overall-external-environment?u=56744473 This video shows the importance of a PEST analysis; how macro environmental forces may a�ect businesses; and why marketers should scan the market environment before creating marketing strategies. Mccrindle Research. (2012, November 12). Welcome to Australia Street | If Australia was a street of 100 https://www.youtube.com/watch?v=YUc-c2kjYgI https://laureate-au.blackboard.com/bbcswebdav/pid-9215973-dt-content-rid-35801254_1/institution/Business%20and%20Hospitality%20Faculty/Bachelor%20of%20Business/_Marketing/MKT101A%20Marketing%20Fundamentals/3.%20Resources/Module%201/MKT101A_Module%201.2.pdf https://www.linkedin.com/learning/management-foundations-advanced-applications/monitoring-the-overall-external-environment?u=56744473 05/10/2020 Laureate International Universities https://laureate-au.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_94449_1&content_id=_9215957_1&mode=reset 4/6 households... | McCrindle Research [Video �le]. Retrieved from https://www.youtube.com/watch?v=TzAtaZg6ljo This video provides an overview of Australia’s households using ABS census data by creating a scenario in which Australia has only 100 households to make it easier to understand how the population changes over the years. The purpose of this video is to show how consumers change over the year and, therefore, a�ect marketing strategies: from product o�er to pricing strategies adopted to di�erent promotional channels to communicate with consumers. Learning Activity: A Career in Marketing Watch the interview with Victoria Boyden - Shopper Marketing Manager Diageo, who will explain the intricacies of a career in marketing, give some tips on how to create a winner marketing plan, and share some challenges that marketers may face in the market. After watching the interview with Victoria Boyden – Shopper Marketing Manager Diageo, please answer the two questions below in the discussion forum for this activity in Blackboard: 1. What are the three reasons Victoria Boyden suggested that companies should have marketing function? 2. Victoria Boyden mentioned that “consumers don’t actually know what they want”. What are the tactics that companies could use to listen and understand consumers’ wants? Browse through your peers’ posts in the discussion forum and provide feedback to at least one, for example, you could comment whether you agree on the suggested tactics? Brie�y explaining your rationale. Go back to your post the following days to read your feedback. https://www.youtube.com/watch?v=TzAtaZg6ljo 05/10/2020 Laureate International Universities https://laureate-au.blackboard.com/webapps/blackboard/content/listContent.jsp?course_id=_94449_1&content_id=_9215957_1&mode=reset 5/6 To participate in the Discussion Forum, click here to scroll to the bottom of this page then click on the "Module 1 - Discussion Forum" link. Customer satisfaction One of the core elements of marketing is being able to meet and satisfy customer needs. Marketers must exceed customer satisfaction, i.e. you may be satis�ed with a restaurant where you have recently had a meal but that does not necessarily mean you will return to that restaurant, as there are many other restaurants that you might like to try. However, often when a customer's expectations are exceeded, the customer will very likely