Assessment description
The candidate is to write and present a report on the marketing mix in their own workplace or a workplace that they are familiar with. The full report should address the evaluation of all components within the marketing mix and marketing performance. The report is to be presented to the class.
The report and the presentation should consider the key characteristics of the product, the promotion methods and each component of the adjusted marketing mix. The report needs to evaluate the contribution made towards the organisation's marketing objectives, strategies and desired positioning.
Procedure
1. Research the marketing of your organisation's products and services.
2. Identify the key characteristics of the products and/or services and their significance to the market.
3. Review pricing policy and analyse pricing variables to determine their effect on demand. Include a copy of your organisations' policy and submit it as evidence along with your report.
4. Analyse the significance to market outcomes of:
a. promotional methods
b. customer base
c. channels of distribution
d. the level of customer service provided.
5. Establish the marketing mix components. Include information on how each element of the marketing mix has been used. Analyse and test their significance to each other and relevance to customer base.
6. Identify environmental factors and assess their potential impact on the marketing mix.
7. Identify customer/consumer priorities, needs and preferences and the way they impact the marketing mix.
8. Consider product, pricing, promotional activities, distribution channels and service variations. If additional products or services or new products will be offered, evaluate these against marketing objectives, target market characteristics and desired positioning.
9. Analyse the marketing mix in relation to your organisation's strategic and operational marketing objectives. Select the most appropriate mix and explain your decision.
10. Monitor the performance of the organisation's products and or services in order determine which components should be tested.
11. Evaluate the implications of altering one or more components of the marketing mix in response to market factors and consumer response.
12. Adjust components of the marketing mix in response to test results, ensuring that the final mix meets:
a. budget requirements
b. organisational strategic objectives
c. operational marketing objectives
a. desired market positioning.
Discuss whether or not any further adjustments were needed in order to meet these requirements.
2. Write a report to address the above points.
3. Present the report to the class.