Assessment Task 1 (BSBMKG502) Assessment Task 1BSBMKG502 Establish and adjust the marketing mix Evaluate and determine the marketing mix Submission details Candidate’s name Phone no. Assessor’s name...

There are two tasks each to be answered separately . Thanks


Assessment Task 1 (BSBMKG502) Assessment Task 1BSBMKG502 Establish and adjust the marketing mix Evaluate and determine the marketing mix Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s This assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective You will demonstrate the ability, knowledge and skills to evaluate each component of the marketing mix and determine a suitable marketing mix for a specific product/surface and its target market. Assessment description You will write a report on a simulated or real organisation. The report should address the key characteristics of a product or service and estimate its significance to the market, the promotion methods and each component of the marketing mix. Assess the marketing mix that the organisation has selected for its specific market and evaluate each component’s contribution to the organisation’s marketing objectives and strategies. Procedure Scenario You are a marketing manager or external marketing consultant who has been asked by senior decision makers in an organisation to write an evaluation of the marketing mix for a product or service. Research and prepare the report. 1. Identify and agree with your assessor on a real or simulated business for evaluating and determining the marketing mix for a product or service. a. You will need to meet with your assessor to ensure your chosen business is suitable and that you have access to enough information to complete this task, for example, access to: i. applicable market research ii. a marketing plan, or at least, branding and strategy, target market or segment information, marketing mix information iii. demand and revenue projections iv. a marketing budget v. operational planning vi. relevant policies. 2. Identify the key characteristics of the business’s products and services and their significance to the market. 3. Consider the impact of at least two changes to pricing on resulting consumer demand. Prepare to briefly explain in your report your methods and calculations. Prepare to explain the impact on, for example, profitability or other business goals. Note: You will need to agree with your assessor on demand and revenue assumptions in order to calculate the effect of pricing on demand in several ‘what if’ scenarios. 4. Analyse the importance of the following elements to marketing outcomes: a. the promotional methods b. the channels of distribution c. the level of customer service provided. 5. Identify the business’s potential customer base and keys to success in reaching them. 6. Identify the components of the marketing mix, including information on how each element of the marketing mix has been used, their significance to each other and their relevance to the customer base. 7. Identify external environmental factors and assess their potential impact on the marketing mix. 8. Identify consumer priorities, needs and preferences and the way they impact the marketing mix. 9. Evaluate products or services against marketing objectives, target market characteristics and desired positioning. Prepare to explain and justify your evaluation. 10. Assess the marketing mix in relation to the organisational, strategic and operational marketing objectives and complete the following: a. Select the most appropriate mix and prepare to explain your assessment. b. Consider the integrated effect of each component of the marketing mix on each other. c. Identify specific objectives, for example, financial objectives, customer satisfaction objectives or operational efficiency objectives. 11. Identify at least two pieces of legislation, codes of practice, or organisational policy relevant to implementing your recommended marketing mix. 12. Document your evaluation of the marketing mix in a written report. Ensure your report: a. identifies, defines and examines the product or service’s key characteristics b. examines promotion methods and marketing mix components c. evaluates the marketing mix d. defines the business’s marketing objectives and strategies. Note: Ensure also that your report is written in a formal style appropriate to a managerial audience. 13. Submit your report in the agreed format and within the agreed timeframe to your assessor. Specifications You must submit: · a three-to five-page written report evaluating the marketing mix. You assessor will be looking for a report that demonstrates: · reading skills to research and evaluate marketing mix information from a range of sources, including, for example, marketing plans, market research reports and online sources · writing skills to write reports in a formal style, using language appropriate for a managerial audience · numeracy skills to evaluate and explain pricing scenarios and calculations · workplace navigation skills to consider own role (as marketing consultant or manager, in this case, writing a report to further the aims of the business) and legal and policy implications of marketing mix recommendations · marketing skills to evaluate marketing options and assess impact on strategic aims · knowledge of: · principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix · key provisions of relevant legislation, codes of practice and national standards that may affect aspects business operations. · organisational policies, procedures, products and services. 1st edition version: 1 Page 4 of 4 Assessment Task 2 (BSBMKG502) Assessment Task 2BSBMKG502 Establish and adjust the marketing mix Monitor and adjust the marketing mix Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective You will demonstrate the ability, knowledge and skills to evaluate each component of the marketing mix and determine a suitable marketing mix for specific markets, as well as monitor and adjust the marketing mix. Assessment description In a follow-up to Assessment 1, you will monitor the performance of recommended elements of the marketing mix against business objectives. Given performance results against objectives, you will prepare a written report that: outlines and explains your rationale for a suitable adjustment to the marketing mix in response; outlines changes to planning and budget required to implement adjustments; and outlines a brief monitoring strategy for the new changes. Procedure Scenario You are a marketing manager or external marketing consultant who was asked by senior decision makers in an organisation to write an evaluation of the marketing mix for a product or service. You made several recommendations on the marketing mix to be implemented and monitored. Six months have passed. Initial recommended changes to the marketing mix have been tested and you now have enough data to review the effectiveness of the marketing mix against business objectives. You will need to prepare a report to evaluate performance and recommend adjustments to the marketing mix in response to market testing and changes to planning and budget to allow for such adjustments to be implemented. You will need to ensure changes are monitored effectively over the next two financial quarters. 1. Meet with your assessor to discuss performance of the marketing mix against objectives. Such objectives may be, for example, operational, customer-satisfaction related, or financial. 2. Evaluate performance against objectives. 3. Identify areas of poor performance to be adjusted and monitored. Evaluate the implications of altering one or more components of the marketing mix in relation to market factors and consumer response. 4. Consider possible adjustments to components of the marketing mix in response to performance, ensuring that the final mix meets: a. budget requirements b. organisational strategic objectives c. operational marketing objectives d. desired market positioning e. internal and external requirements of the organisation. 5. Prepare a written report to: a. outline performance of the marketing mix against objectives b. outline proposed changes, using the results of monitoring performance to argue for changes c. outline and explain impact of changes on planning and marketing or organisational budgets d. explain relevance of organisational policies and relevant legislation, regulations and codes of practice e. outline a monitoring strategy to ensure changes to marketing mix meet objectives, including clear objectives, performance benchmarks, responsibilities, and regular monitoring activities within a set timeframe. Note: Ensure your report is written in a style and uses language appropriate to a senior managerial audience. 6. Submit your report, including planning, budget changes and monitoring strategy, to your assessor in the agreed format and within the agreed timeframe. Specifications You must submit: · a written report: · evaluating the performance of the marketing mix against objectives · including: · recommended adjustments · planning considerations or changes to operations · changes to budget · monitoring changes. You assessor will be looking for a report that demonstrates: · reading skills to analyse, for example, marketing plans, operational plans, organisational policy, or online information on legislation · writing skills to write reports in a formal style, using language appropriate for a managerial audience · numeracy skills to make changes to budgets · workplace navigation skills to consider your own role (as marketing consultant or manager, in this case, writing review of performance) and legal and policy implications of marketing mix recommendations · marketing skills to evaluate marketing options and assess impact on strategic aims · planning skills to: · assess impact of changes to the marketing mix to operations · plan monitoring activities · knowledge of: · principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix · key provisions of relevant legislation, codes of practice and national standards that may affect aspects business operations. · organisational policies, procedures, products and services 1st edition version: 1 Page 3 of 3 BBQfun simulated business (BSBMKG502) BBQfun (simulated business) Table of contents Chapter 1 – Business plan (excerpt)2 Chapter 2 – Organisational chart and management profiles3 Chapter 3 – Management responsibilities4 Chapter 4 – Budget summary5 Chapter 5 – Operational plan6 Chapter 6 – Description of operations9 Chapter 7 – Organisational risk register10 Chapter 8 – Marketing plan12 Chapter 9 – Sales and marketing policy24 Chapter 10 – BBQfun privacy policy26 Chapter 11 – Anti-discrimination policy30 Chapter 12 – Procurement policy and procedures31 Chapter 13 – List of preapproved suppliers36 Chapter 1 – Business plan (excerpt) From BBQfun business plan FY 2016–2017 About BBQfun BBQfun was established in 2013 by current CEO, Pat Mifsud. BBQfun offers an extensive product range, incorporating both local and imported goods. Since 2014, the increasingly competitive retail environment, technological change, changes in consumer buying patterns and consumer confidence has led to disappointing sales. However, BBQfun intends to return to healthy sales of $11 million in 2016 through building on its organisational strengths, through targeted marketing strategies aimed at key segments and through exploiting marketing opportunities. Currently, BBQfun operates two stores, one in Brisbane (Kenmore), and one on the Gold Coast.