Assessment Task
InstructionsAssessment Task 1: Scenario Analysis
You are required to individually conduct some desk research or critical thinking in answering all of the following tasks:
Scenario 1: Elements / Performance Criteria 1.1:
You are contracted by an organisation to analyse information on market and businessneeds to identify marketing opportunities. You need to explain different types of information (ie what can be analysed from each type of information and its value to theorganisation).
Scenario2: Elements / Performance Criteria 1.2:
You are in charge of a research team which has been contracted by an organisation toresearch potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business. Using the organisation's currentmarkets as a starting point, what information would you direct your researchers to find?Provide at least 10 examples:
Scenario3: Elements / Performance Criteria 1.3:
An entrepreneur has asked for your help to explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and development into potential marketing opportunities. What questions would you ask them to give you the background you need to begin your exploration? Provide at least five examples.What are the four main sources of entrepreneurial marketing ideas?
Scenario4: Knowledge Evidence 1:
Choose an industry and give detailed explanations of the legislation, regulations and codes of ethics which apply to its marketing activities. Present your findings as a report which lists all the sources of your information. (500-750 words)
Scenario5: (Elements / Performance Criteria 2.1):
You are the marketing manager of an organisation which is seeking new market opportunities to realise these goals to:
• Increase sales by 10% in the next 12 months.
• Penetrate a new market segment.
• Broaden its product mix.
In one sentence each, identify what goals are or should be under the following headings:
a) Sales revenue
b) Profit margins
c) Staff levels
d) Staff training
e) Market segments
f) Product mix
Scenario6: Elements / Performance Criteria 2.2:
How would you evaluate the likely impact of such an opportunity on current business and customer base, using these criteria?
a) Knock out factors.
b) Return on investment.
c) Ethical principles
Scenario7: Elements / Performance Criteria 2.3:
From your own workplace experience, analyse at least three of the external factors which could determine the financial viability of the opportunities.
Scenario8: Elements / Performance Criteria 2.4:
Identify a marketing opportunity for an organisation you are familiar with. The organisation has asked you to determine the probable return on investment and potential competitors. What factors must you consider? Provide at least six examples.