Answer To: SITXMPR007 Student Assessment Booklet Page: 1 of 73 Version: 3.0 Responsibility: Course Coordinator...
Saloni answered on Oct 22 2021
Assessment Task 1
1. Core activities, customer base, business values and current business direction.
2. Review information on current and past marketing strategies and their effectiveness.
3. SWOT analysis.
4. Engage a specialist contractor to help you, such as a web developer or designer.
5. Record and report on the information according to organisational requirements.
6. Maturity
7. Changes in labour force and economic activity can affect the method you choose for implementing your marketing plan.
8. Benchmarking is the process of comparing your establishment’s performance against other businesses in the same industry, or in another industry where similar processes exist.
9. Increasing concern for the environment.
10. Using manipulative sales techniques to coax a person into a sale contract that they don’t fully understand.
11. Record and report on the information according to organisational requirements.
12. A clear understanding of your business and what’s going on in the external environment helps you identify potential marketing opportunities or changes in market needs.
13. E-marketing.
14. Introduce a frequent diner card offering customers a free drink with every meal purchase.
15. Advertising Australian beef on a menu when the beef is actually imported from overseas.
16. Key stakeholders such as colleagues, other managers, supervisors, directors and establishment owners.
17. Marketing tactics.
18. Yes. By keeping them involved you’re more likely to gain their support and commitment when it comes to implementing the plan.
19. Poor, inaccurate or sloppy presentation could result in your marketing plan being pushed aside and disapproved of by senior management. .
20. Contingency plan.
21. To help gain funding and approval for future marketing projects.
22. Keep them up to date with marketing progress and share the results of marketing activity with them.
23. Marketing evaluation should be an ongoing process.
24. As soon as you identify that things are not going the way you would like them to, stop what you’re doing and take prompt action to rectify the situation.
25. Adjust your marketing plan and inform colleagues of any changes impacting their role.
Assessment Task 2
1. The three questions that needs to be confirmed before start planning a marketing strategies are
· What do you do ?
· What is important to you ?
· Where are you heading ?
2. Environmental scanning refers to the process of collecting and analyzing information about internal and external environment. Internal environment focus on customer and market segment; potential of past and ongoing marketing strategies; performance of historical data; success factors, current strengths and weakness ; and current capabilities and resources. External environment focus comparison in the market, customer development and trends and ethical and environmental restrictions.
3. Four example of the market segmentation are demographics, social class, location, and psychographics. Demographic segmentation is on the basis of age, sex, race , education, family size , religion, income and background. A restaurant have different dishes on the menu for different customers. Social class effects the sustainability of the location of the establishment or type of product/service. Location decides to place of the establishment. Psychographics defines the thinking of the customer and focusing on what ticks on the customers.
4. Five sources that can be used to access information on the effectiveness of current and past marketing strategies are research on the internet, business advisory services, financial institution and government agencies or industry association.
5. It is important to review performance data to analyze the performance of the business data and understand which departments are under performing and what need to be adjusted. It allows us to transfer new knowledge and and skills to the place required the most. It helps us understand that movement towards the goals and objective of the company.
6. SWOT analysis look into the Strengths and Weakness of the company and how they deal with the Opportunities and Threats in the marketplace. This will help recognize critical success factors that gives business a competitive advantage.
It will help the business to analyze the organization’s strengths, weakness, opportunities and threats to build on what they are positive in, understand what they are lacking so that any risk in future is overcome and to take advantage of the chances of success.
7. Three things that needs to be considered while assessing the capabilities of the establishment are staff skills level ( a team of committed, quality and highly skilled staff); communication capabilities (ability to communicate with customers, supplier , marketing consultant in different language through numerous medium of communication; and e-business capabilities (beneficial to attract interstate or international customer).
8. Three things to assess the current establishment resources are human resources , financial resources and equipment capacity. Human resource coordinates activities like induction, training, performance review, recruitment and leave entitlement. Financial resources maintain departement budget and marketing budget . Equipment capacity maintains the updation services of the existing equipment by use of modern technology.
9. I will consider getting someone who is an expert in marketing for my products and services. Many specialist services are available in the market and will be hired according to the need of the organization and existing resources. I will seek help from a advertising and marketing agency for advice.
10. The employee and colleagues( subordinates and superiors) needs to know about the internal business environment. They will help to identify the reason for poor performance and suggest marketing strategies. It can be communicated in a written or verbal report.
Section 2
11. The service has reached the decline phase of the market. It was at the maturing and growth stage six months ago as it was meeting the requirement of the society. The drop in the demand of the services refers decline phase of the services in the market.
12. Four ways a change in labour force or economic activity affect the customers and establishment-
· The amount of the cash money income with the customers
· The expenses required to operate
· The rate of employment
· Power of negotiation with the suppliers over the cost.
13. Best practices refers to finding and applying the best ways of operating in the target to achieve business goals. It involves keeping up to date with the ways business operate and analyse the method used by the leaders of the market. Best practices can relate all area of the business: people management, marketing, quality control, health and safety, record keeping or customer service.
14. Emerging trends and development can be find out by reading journals, local newspaper, listening to radio, advertisement and marketing distribution material. Interacting with the customers and listening to what they are communicating and similarly interacting with the supplier about the new product development.
15. To stay up to date with the legal requirements of the business, one can search information through internet; reference books; media access like magazines, television, radio and newspaper and industry journals. Internet access can be used for state and federal government, legal discussion and industry changes and business compliance expert. Reference books can be obtained from industry experts, libraries or government departments and industry journal can be used to stay updated about the industry and legislative changes.
16. Ethical constraint means selling products and services to live up to the commitment and promises; treating the customers, suppliers, competitors and staff with professionalism, respect and dignity. It refers to the process of being persuasive without being manipulative. For example, it would be unethical to mislead any customer and get into a deal which they don’t understand.
17. Environmental legislation refers to the public concern for the environment which is at all time high . Resources conservation by recycling and waste minimization promotes cultural, social and economic sustainability of marketing initiatives.
18. External market information should be known to all its key stakeholders., organization owner, management team, employees, marketing staff and direct reports .
Section 3
19. Marketing objective define what you want to achieve , marketing strategies define how to achieve and tactics are the day-to-day steps needed to undertake to achieve marketing strategies and marketing objectives. Objectives must be SMART, pricing and promotional strategies recorded in a action plan or a to-do list.
20. The internal and external research is to recognize market different opportunities in the market. It gives a clear direction and understanding of the organization and its products and services and look into the external market for opportunities.
21. The 7 P’s of marketing mix are product, price, place, promotions,process, people and physical evidence.
22. Three benefit of internal marketing are 24*7 access to people around the world, internet traffic attraction ,monitor sales conversion rate and online survey can be conducted.
23. Price penetration refers to the strategy where price of the product is initially set low to attract more clients, capture a larger market share and initiate word of mouth. Once the market has been established prices are increased in accordance to the competitors pricing.
24. The decision is inconsistent with the direction, values...