Assessment activity 1: Analyse information on market and business neeeds to identify marketing opportunities
A small stationery shop recorded its diary sales for the years 2007 to 2011 in two tables:
Diary sales
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Year Units sold
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Sales value
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Average unit value
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Average unit profit
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2007 135
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$1,300.75
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$9.64
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$5.78
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2008 98
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$988.82
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$10.09
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$5.05
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2009 80
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$897.58
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$11.22
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$4.82
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2010 48
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$803.30
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$16.74
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$7.03
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2011 37
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421,80
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$11.40
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$4.21
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Percentage diary sales by customer age group
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Age group
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2007
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2008
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2009
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2010
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2011
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<30
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32°/o
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29°/o
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16%
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11%
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6%
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31-50
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40%
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40%
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51%
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52°/o
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61%
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>51
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28°/o
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31%
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33%
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37%
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33%
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1: What further information would you need to analyse information on market and business needs to identify marketing opportunities?
2: What trends are revealed by the diary sales data?
3: What trends are revealed by the percentage by age group data?
4: YOu are contracted by an organisation to analyse information on market and business needs to identify marketing opportunities. Briefly describe the organisation and its current markets and then present your analysis in the table
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information
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analisys
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value to the organization
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Comparative market information
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competitor performance
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customer requeriments
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legal requirements
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ethical requirements
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market trends and development
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new and emerging markets
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profitability
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sales figures
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Assesment activity 2: Research potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business
1: you are in charge of a research team which has been contracted by an organisation to research potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business. using the organisations current markets as a starting point, what information would you direct your researchers to find
2: choose one new market identified by your researchers and analyse the risks and benefits to the organisation of attempting to enter your chosen markeT?
Assesment activity 3: Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing oppoturnities
1: an entrepenur has asked for your help to explore entrepeneurial, innovative approaches and creative ideas for their potential business application, and development into potential marketing opportunities. what question would you ask them to give you the background you need to begin your exploration?
2:what are the four main sources of entrepeneurial marketing ideas?
3: identify one idea suggested by each of these sources, showing how the idea was developed and analysing its potenial for developing into a marketing opportunity, and showing how it would fit with the entrepeneurs current business.
Assesment activity 4: Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities and evaluate each opportunity to determine its impact on current business and customer base
1. you are the marketing manager of an organisation which is seeking new market opportunities to realise these goals to:
a: Increase sales by 10% in the next 12 months
b: Penetrate a new market segment
c: Broaden its product mix
2. Identify a new market opportunity and analyse it, using this checklist
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Criteria
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Current
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Goals
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Sales Revenue
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Profit margins
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staff levels
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staff training
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market segnments
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product mix
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3.evaluate the likely impact of this opportunity on current business and customer base, using these criteria:
a: knock out factors
b: return on investment
c:ethical principles
Assesment activity 5: use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity
You supervisor has asked for your help in the marketing deparment. You have been assigned three tasks
1: Briefly describe the organisation in terms of:
a. Current Products
b. Current market segments
c. Three potential new marketing opportunities which have been identified by the marketing department
2: Analyse the external factor which could determine the financial viability of each of the offers
3: Write a report which summarises your analyses and assesses the financial viability of each opportunity
Assesment activity 6: Determine probable return on invesment and potential competitors
You organisation has identified a new marketing opportunity and you have been asked to determine probable return on investment and potential competitors
1: What factors must you consider?
2: Calculate the probable return on invesment for the marketing opportunity which you identified in question one. Use representative values when calculating ROI.
Assessment activity 7: Describe and rank marketing opportunities in terms of their viability and likely contribution to the business
You have identified three new marketing opportunies for you organisation and the board has asked you for a report which shows how you would describe and rank these marketing opportunities in terms of their viability and likely contribution to the business
1: Briefly descibre the organisation and its current markets
2: PResent your report in a table which compares the three opportunities according to the criteria which show their viability and contribution to the business
Assessment activity 8: Identify and document changes needed to current operations to take advantage of viable marketing opportunities
Your cliente has identified a viable marketing opportunity and has asked you to identify and document changed needed to current operation to take advantage of this opportunity
1: Create a brief that you received from your cliente, giving background information on their organisation and describring the opportunity (ie create a scenario)
2: Write your report, showing the criteria you have considered and the changes required in each area.
Assessment activity 9: Ensure organisational changes to service an increased or different customer base include provision for continued quality of service to existing customers
1: What factors does an organisation need to consider to ensure that organisational changes to service an increased or different customer base include provision for continued quality of service to existing customers?
2: Your organisation has increased its market by 50% by targeting a new suburb and by introducing deliveries to all customers who spend over $200 in one order, How can they ensure that they will maintain their current standard of service ot their current customers and to their new ones?
Assessment activity 10: Estimate resource requirements for changed operations
1: What resource requirements must be estimated before an organisation enters a new market?
2: Your manufacturing organisation is deciding wheter to expand by introducing a new prodcut to your existing marekts, or to enter the market in a new city with your existing products. Compare the estimated resource requirements for each potential market
Assessment activity 11: Determine and communicate viability of making changes to current operations to key stakeholders
1: Who are the key stakeholders in any organisation and what information do they need to ensure that proposed changes to current operation will be viable?
2: Your organisation has decided to enter a new market. Draft a memo to the key stakeholders, describing the new market and show evidence that it is viable in terms of financial estimates, physical requirements and its effects on the organisations current markets.
Assessment activity 12: Document newly identified marketing opportunities and required changes
1: What changes can be neeeded when an organisation takes advantage of new marketing opportunities?
2: Your organisation has commited to developing a new product for its existing markets and to entering a new market for its existing products. You have been directed to document the changes needed for one of these markets. Draft the memo which you would issue in response
Assessment tool 2 (AT2): Written/oral questions
Learners should answer the following questions either orally or in writing as agreed with the assessor.
1: How would the competition and consumer act 2010 (CTH) (Formerly trade practices act 1974) and state fair trading acts affect opportunities to enter one market in which you are interested?
2: What are the provision of the code of practive for one market or marketing method of choice?
3: What is the definition of a market and of a market segment?
4: How does legislation protect consumers from online marketing?
5: What is the marketing approach and how is it different from selling?
6: What are the advantages and disadvantages to an organisation of having a broad marketing mix?
7: How can marketers ensure that their marketing complies with anti-discrimination legislation when they target minority market segments
8: How do ethical principles affect deicions about marketing opportunities?
Marketing Management
Assesment tool 3 (AT3): Project
Project 1
You are the marketing manager for an organisation. Briefly describe the organisation, its products or services and its current markets. Identify two opportunities to enter new market, with current or new products and two opportunities to introduce new products to your current markets.
Analyse and coument these opportunities in term of:
- their potential contribution to your organisations business
- their fit with your oganisations goals and capabilities
- likely impact on your current business and customers
- external influences on the financial viability of each opportunity
- probable return on investment
- changes needed to current operations
- changes need to maintain current quality of customer service
- resources required to make the necessary changes
Communicate your findings and recommendations to the key stakeholders in your organisation
Project 2:
Choose an industry (prefered Australian Company) and give detailed explanations of the legislation and codes of ethics which apply to its marketing activities. Prevent your findings as a report which lists all the source of your information