Prepare a brief presentation for marketing peers

Assignment Help Marketing Management
Reference no: EM13840629

Identify and evaluate marketing opportunities

ASSESSMENT 1 - DIRECT OBSERVATION / PORTFOLIO OF WORK

ASSESSOR INSTRUCTIONS

1. This assessment requires student to identify and investigate marketing opportunities (for BBQfun Simulated Business - APPENDIX 1).
Student will analyse BBQfun Simulated Business - APPENDIX 1 (to be provided by your) to identify and evaluate marketing opportunities by completing 3 parts of this assessment:

1. PART A: Identify two marketing opportunities, research potential new markets and explore innovative approaches (Student required to complete APPENDIX 2: Competitor Profiling Activity)

2. PART B: Assess opportunities with respect to contribution to the business using APPENDIX 3: BBQfun Sales Data Worksheet for this assessment.

3. PART C: Prepare a brief presentation for marketing peers (classmates and you) to support and explain the two marketing opportunities they have identified.

Student must save their assessment work as they will be using the completed BBQfun Sales Data Worksheet information, completed competitor profiling activity and presentation information in this assessment to complete Assessment 2 of this unit.
Student may base their analysis and presentation on:

• An organisation they are familiar with, such as a current or previous employment, and from which they can obtain enough information to complete the assessment task to specification. Student must seek you approval before doing so, or alternatively work with BBQfun simulated business.

2. Provide student with a copy of the Student Assessment Guide.

3. Make yourself familiar with the assessment task.

4. Provide access to simulated workplace environment, office equipment and resources such as computer with internet facilities

5. Provide access to BBQfun's strategic and marketing plans

6. Provide assistance to the students to understand the BBQfun's Sales Data Workshee - Appendix 3 of this assessment in the Student Assessment Guide

7. Advice student about the date and time of their marketing presentation.

8. During presentations ensure students have the opportunity to use appropriate language and level of formality to satisfy needs of the presumed audience (marketing peers):

a. Respond positively to professional but semi-formal language

b. Ask questions on technical vocabulary; potential need to define more obscure marketing terms or statistical methodologies.

c. Ask questions on specific organisational policies and marketing strategies.

9. Advise student of submission date & method (hard copy or soft copy).

SAMPLE ANSWERS for APPENDIX 2: Competitor profiling activity

Rate the competitors by number and estimated market share.

Number Competitor Estimated Market Share
Local Independent

The Yard

BBQs R us

Outdoors 30 %

00 %

22 %

24 %

Look a little deeper and make some estimations of the competition:

1 2 3

Estimated sales per year $

Estimated market share % 30 00 22

Description of their sales force large distribution network In Melbourne and Alidade Large operations

Marketing tactics Considering e-commerce options. Lots of cheap imports No imports - all Australian made

Selling terms point is high Data not available Data not available

Advertising and promotion No significant marketing or promotion Considering e-commerce options.

Distribution channels large distribution network- Considering selling on line One store in Brisbane - Considering selling on line few stores per city Considering selling on line

Service and support Data not available Data not available Pricing high Data not available Data not available

Major strengths All Australian made- significant depth Broad range of outdoor lifestyle products No imported goods

Major weaknesses No significant marketing or promotion One store in Brisbane Low to medium quality

Assess each competitor's product or service and profitability:

Competitor Costs and Profitability

Product or Service

limited selection but significant depth

Broad range of outdoor lifestyle products including trinkets and furnishings outdoor lifestyles, Strong in the replacement segment

Sales Price

Quite high Data not available Data not available

Sales Level

The largest market share

Not in south east Queensland Concentrating on established markets Gaining strength in Brisbane market.

ANSWERS for APPENDIX 3: Example calculations

Least squares: BBQ customers, total market with e-commerce included

Consider historical data plotted in chart:

Year Sales (y) Coded time (x) XY

FY2008/9 25,000 1 25,000 1

FY2009/10 35,000 2 70,000 4

FY2010/11 40,000 3 120,000 9

FY2011/12 45,000 4 180,000 16

Total ( )

145,000 10 395,000 30

Mean ( ), ( )

36,250 2.5

N= number of years

The estimated number of BBQ customers for 2012/13 is approximately 52,500

(So, therefore, at 24% market share, BBQfun could expect to sell 12, 600 BBQs)

Least squares: Outdoor Furniture customers, total market with e-commerce included

Year Sales (y) Coded time (x) XY

FY2008/9 13,000 1 13,000 1

FY2009/10 15,000 2 30,000 4

FY2010/11 17,000 3 51,000 9

FY2011/12 19,000 4 76,000 16

Total ( )

64,000 10 170,000 30

Mean ( ), ( )

16,000 2.5

The estimated number of Outdoor Furniture customers for 2012/13 is approximately 21,000

(So, therefore, at 24% market share, BBQfun could expect to sell 5,040 Outdoor Furniture)

Least squares: BBQ Accessories customers, total market with e-commerce included

Year Sales (y) Coded time (x) XY

FY2008/9 42,000 1 42,000 1

FY2009/10 58,000 2 116,000 4

FY2010/11 68,000 3 204,000 9

FY2011/12 75,000 4 300,000 16

Total ( )

243,000 10 662,000 30

Mean ( ), ( )

60,750 2.5

The estimated number of BBQ Accessories customers for 2012/13 is approximately 88,000

(So, therefore, at 24% market share, BBQfun could expect to sell 21,120 BBQ Accessories)

Total market potential

BBQs Outdoor Furniture BBQ Accessories Total

2008/9 25,000 13,000 42,000 80,000

2009/10 35,000 15,000 58,000 108,000

2010/11 40,000 17,000 68,000 125,000

2011/12 45,000 19,000 75,000 139,000

2012/13 52,500 21,000 88,000 161,500

With e-commerce

Assume market share of 24% for BBQfun to calculate projected number of units to sell for each item in 2012/13.
BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(24% of total market potential for individual item) 12,600 5,040 21,120

Quantity 1 1 3

Average price $620 $880 $55

Sales volume (units)

(Number of buyers X Quantity) 12,600 5,040 63,360

Own Branded products

Assume market share of 24% for BBQfun to calculate projected number of units to sell for each item in 2012/13.

BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(24% of total market potential for individual item) 7,200 3,120 13,440

Quantity 1 1 3

Average price $600 $850 $50

Sales volume (units)

(Number of buyers X Quantity) 7,200 3,120 40,320

Bargain market

Assume market share of 25% for BBQfun to calculate projected number of units to sell for each item in 2012/13.

BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(25% of total market potential for individual item) 10,000 5,000 17,500

Quantity 1 1 3

Average price $500 $650 $40

Sales volume (units)

(Number of buyers X Quantity) 10,000 5,000 52,500

Gross and net profit for each opportunity

Own brand E-commerce Bargain market

Sales volume (units) BBQ: 7,200 BBQ: 12,600 BBQ: 10,000

Furniture: 3,120 Furniture: 5,040 Furniture: 5,000

Accessories: 40,320 Accessories: 63,360 Accessories: 52,500

Price BBQ: $600 BBQ: $620 BBQ: $500

Furniture:$850 Furniture: $880 Furniture: $650

Accessories:$50 Accessories:$55 Accessories:$40

Revenue per item

(sales volume x price) BBQ:$4,320,000 BBQ:$7,812,000 BBQ:$5,000,000

Furniture:$2,652,000 Furniture:$4,435,200 Furniture:$3,250,000

Accessories:$2,016,000 Accessories:$3,484,800 Accessories:$2,100,000

Total revenue $8,988,000 $15,732,000 $10,350,000

Unit contribution margin

BBQ: $500 BBQ: $300 BBQ: $200

Furniture: $600 Furniture: $420 Furniture: $220

Accessories: $40 Accessories: $20 Accessories: $10

Gross profit per item

(Unit contribution margin X number of units) BBQ:$3,600,000 BBQ:$3,780,000 BBQ:$2,000,000

Furniture:$1,872,000 Furniture:$2,116,800 Furniture:$1,100,000

Accessories:$1,612,800 Accessories:$1,267,200 Accessories:$525,000

Total gross profit 2012/13 $7,084,800 $7,164,000 $3,625, 000

Total fixed cost

Inclusive of given additional fixed costs

(Total expenses $4,884,714 from BBQfun Budget summary) $4,884,714 + $1,000,000 + $500,000 + $500,000 =

$6,884,714 $4,884,714 + $50,000 + $100,000 + $150,000 + $250,000 + $50,000 =

$5,484,714 No additional fixed costs 884,714 + $0 $4,884,714

Total net profit 2012/13

Total gross profit - total fixed cost) $200,086 $1,679,286 ($1,259,714)

Profitability index for each opportunity for 2012/13

Profitability index (PI) = Present value (PV) of future cash flows

Present value (PV) of initial investment

Own brand E-commerce Bargain market

Cash flow 2012/13

(Use total gross profit figures from Gross and net profit for each opportunity table above) $7,084,800 $7,164,000 $3,625,000

Opportunity cost 8% 8% 8%

(Future cash flow / 1 + Opportunity cost)

Present value of future cash flows $7,084,800 / 1.08 = $7,164,000 / 1.08 = $3,625,000 / 1.08 =

$6,560,000 $6,633,333 $3,356,481

Present value of initial investment

(Use total fixed cost figures from Gross and net profit for each opportunity table above) $6,884,714 $5,484,714 $4,884,714
Profitability index 0.95 1.2 0.69

Assessment Criteria - Identify and investigate marketing opportunities

Did the student submit the following documents

Completed Appendix 2: Competitor profiling activity

Completed Appendix 3: BBQfun Sales Data Worksheet

Presentation notes on - two marketing opportunities on potential new markets on market trends, competitor information, exploring innovative approaches and assess opportunities with respect to contribution to the business.

PowerPoint slides

Within the required timeframe

Did the student submit a presentation that includes:

Description of two marketing opportunities and methodology to identify them

Reference to current organisational marketing plan and products/service

Provide comparative market information and competitor performance information; and support it with the information completed in the competitor profiling activity

Support for choice of marketing opportunities with reference to market information such as market trends and sales figures (relevant statistics)

Description of the effect of opportunities on the business, for example:

• Sales volume

• Growth

• Market share

• Profitability.

• Student must support their assertions:

o Show/use results of statistical methods of forecasting demand, etc.

o Refer to quantitative or qualitative data, and results of analysis, for example:

? Show results of break-even or profit analysis

? Show ROI estimation

? Show Gap analysis.

Describe innovative or creative options (one for each opportunity) to apply to the two identified marketing opportunities in the context of the organisation.

Refer to aspects of the marketing mix, i.e., product, price, promotion, place (distribution).

Refer to principles of marketing that apply to your approaches to realising the proposed opportunities.

Did the student

Deliver a 15-20 minute presentation on two marketing opportunities

Analyse information on market and business needs to identify marketing opportunities. For example, in presentation, student refers to:

• Comparative market information

• Competitors' performance

• Customer requirements

• Legal and ethical requirements

• Market share

• Market trends and developments

• New and emerging markets

• Profitability

• Sales figures

• Total market potential.

Research potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business. For example , in presentation, student refers to:

? Domestic markets

? Export markets

? Segments of the market not currently penetrated.

Explore innovative approaches and creative ideas for business applications, and develop them into potential marketing opportunities. In presentation, student describes:

• Two innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organisation

• Principles of marketing that apply to their approaches to realising the proposed opportunities.

• Innovative approaches may include, for example:

o An e-commerce opportunity with description of media, aspects of web-design to appeal to target markets

• Ways to exploit opportunity at lease cost or risk

• Integration or synergy with existing operations, marketing strategy and overall strategic directions.

Describe the effect of opportunities on the business, for example:

• Sales volume

• Growth

• Market share

• Profitability.

• Student must support their assertions:

o Show/use results of statistical methods of forecasting demand, etc.

o Refer to quantitative or qualitative data, and results of analysis, for example:

? Show results of break-even or profit analysis

? Show ROI estimation

? Show Gap analysis.

During presentation, student uses appropriate language and level of formality to satisfy needs of their audience. For example:

• Professional but semi-formal language

• Technical vocabulary; potential need to define more obscure marketing terms or statistical methodologies

• Openness to response and feedback.

Ability to identify and evaluate marketing opportunities to determine whether they will meet organisational objectives

Apply culturally appropriate communication skills employed to relate to people from diverse backgrounds and people with diverse abilities

Demonstrate literacy skills to identify and interpret market information and to write in a range of styles for different audiences

Demonstrate numeracy skills to calculate and evaluate financial information on new marketing options

Demonstrate research and evaluation skills to gather information on and interpret market trends to identify marketing opportunities

Demonstrate understanding of organisational marketing plan, and products and services

Demonstrate understanding of principles of marketing and the marketing mix

Demonstrate understanding of statistical methods and techniques to evaluate marketing opportunities, including forecasting techniques.

Demonstrate understanding of key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations.

ASSESSMENT 2 -PORTFOLIO OF WORK/ REPORT

ASSESSOR INSTRUCTIONS

1. This assessment requires student to investigate marketing opportunities and evaluate required changes to current operations (for BBQfun Simulated Business - APPENDIX 1).

Student will review the information completed in Assessment 1 of this unit; and BBQfun scenario given under this assessment task in the

Student Assessment Guide and BBQfun Simulated Business - APPENDIX 1 (to be provided by your) to investigate and evaluate the three given marketing opportunities by completing 2 parts of this assessment:

1. PART A: Evaluate three marketing opportunities that have been identified in BBQfun scenario, rank the three marketing opportunities in terms of viability and their likely contribution to the business and assess the impact of the top-ranked opportunity on operations. Student is required to evaluate and complete the available resources and costs information by completing APPENDIX 2: BBQfun sales data worksheet for this assessment.

2. PART B: Prepare an evaluation report for the board of directors documenting identified marketing opportunities and required changes to operations.

Student must use the information they completed in Assessment 1 of this unit i.e. completed BBQfun Sales Data Worksheet information, completed competitor profiling activity and presentation information to complete this Assessment.

2. Provide student with a copy of the Student Assessment Guide.

3. Make yourself familiar with the assessment task.

4. Provide access to simulated workplace environment, office equipment and resources such as computer with internet facilities

5. Provide access to BBQfun's strategic and marketing plans along with policies and procedures

6. Provide assistance to the students to understand the BBQfun's Sales Data Worksheet - Appendix 2 of this assessment in the Student Assessment Guide

7. Advice student about the date and time of the report submission to the board of directors (you).

8. Advise student of submission date & method (hard copy or soft copy).

ANSWERS for APPENDIX 2: Example calculations

Least squares: BBQ customers, total market with e-commerce included

Consider historical data plotted in chart:

Year Sales (y) Coded time (x) XY

FY2008/9 25,000 1 25,000 1

FY2009/10 35,000 2 70,000 4

FY2010/11 40,000 3 120,000 9

FY2011/12 45,000 4 180,000 16

Total ( )

145,000 10 395,000 30

Mean ( ), ( )

36,250 2.5

N= number of years

The estimated number of BBQ customers for 2012/13 is approximately 52,500

(So, therefore, at 24% market share, BBQfun could expect to sell 12, 600 BBQs)

Least squares: Outdoor Furniture customers, total market with e-commerce included

Year Sales (y) Coded time (x) XY

FY2008/9 13,000 1 13,000 1

FY2009/10 15,000 2 30,000 4

FY2010/11 17,000 3 51,000 9

FY2011/12 19,000 4 76,000 16

Total ( )

64,000 10 170,000 30

Mean ( ), ( )

16,000 2.5

The estimated number of Outdoor Furniture customers for 2012/13 is approximately 21,000

(So, therefore, at 24% market share, BBQfun could expect to sell 5,040 Outdoor Furniture)

Least squares: BBQ Accessories customers, total market with e-commerce included

Year Sales (y) Coded time (x) XY

FY2008/9 42,000 1 42,000 1

FY2009/10 58,000 2 116,000 4

FY2010/11 68,000 3 204,000 9

FY2011/12 75,000 4 300,000 16

Total ( )

243,000 10 662,000 30

Mean ( ), ( )

60,750 2.5

The estimated number of BBQ Accessories customers for 2012/13 is approximately 88,000

(So, therefore, at 24% market share, BBQfun could expect to sell 21,120 BBQ Accessories)

Total market potential

BBQs Outdoor Furniture BBQ Accessories Total

2008/9 25,000 13,000 42,000 80,000

2009/10 35,000 15,000 58,000 108,000

2010/11 40,000 17,000 68,000 125,000

2011/12 45,000 19,000 75,000 139,000

2012/13 52,500 21,000 88,000 161,500

With e-commerce

Assume market share of 24% for BBQfun to calculate projected number of units to sell for each item in 2012/13.

BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(24% of total market potential for individual item) 12,600 5,040 21,120

Quantity 1 1 3

Average price $620 $880 $55

Sales volume (units)

(Number of buyers X Quantity) 12,600 5,040 63,360

Own Branded products

Assume market share of 24% for BBQfun to calculate projected number of units to sell for each item in 2012/13.

BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(24% of total market potential for individual item) 7,200 3,120 13,440

Quantity 1 1 3

Average price $600 $850 $50

Sales volume (units)

(Number of buyers X Quantity) 7,200 3,120 40,320

Bargain market

Assume market share of 25% for BBQfun to calculate projected number of units to sell for each item in 2012/13.

BBQs Outdoor Furniture BBQ Accessories

Number of buyers

(25% of total market potential for individual item) 10,000 5,000 17,500

Quantity 1 1 3

Average price $500 $650 $40

Sales volume (units)

(Number of buyers X Quantity) 10,000 5,000 52,500

Gross and net profit for each opportunity

Own brand E-commerce Bargain market

Sales volume (units) BBQ: 7,200 BBQ: 12,600 BBQ: 10,000

Furniture: 3,120 Furniture: 5,040 Furniture: 5,000

Accessories: 40,320 Accessories: 63,360 Accessories: 52,500

Price BBQ: $600 BBQ: $620 BBQ: $500

Furniture:$850 Furniture: $880 Furniture: $650

Accessories:$50 Accessories:$55 Accessories:$40

Revenue per item

(sales volume x price) BBQ:$4,320,000 BBQ:$7,812,000 BBQ:$5,000,000

Furniture:$2,652,000 Furniture:$4,435,200 Furniture:$3,250,000

Accessories:$2,016,000 Accessories:$3,484,800 Accessories:$2,100,000

Total revenue $8,988,000 $15,732,000 $10,350,000

Unit contribution margin

BBQ: $500 BBQ: $300 BBQ: $200

Furniture: $600 Furniture: $420 Furniture: $220

Accessories: $40 Accessories: $20 Accessories: $10

Gross profit per item

(Unit contribution margin X number of units) BBQ:$3,600,000 BBQ:$3,780,000 BBQ:$2,000,000

Furniture:$1,872,000 Furniture:$2,116,800 Furniture:$1,100,000

Accessories:$1,612,800 Accessories:$1,267,200 Accessories:$525,000

Total gross profit 2012/13 $7,084,800 $7,164,000 $3,625, 000

Total fixed cost

Inclusive of given additional fixed costs

(Total expenses $4,884,714 from BBQfun Budget summary) $4,884,714 + $1,000,000 +

$500,000 + $500,000 =

$6,884,714 $4,884,714 + $50,000 +

$100,000 + $150,000 +

$250,000 + $50,000 =

$5,484,714 No additional fixed costs

$4,884,714 + $0

$4,884,714

Total net profit 2012/13

Total gross profit - total fixed cost) $200,086 $1,679,286 ($1,259,714)

Profitability index for each opportunity for 2012/13

Profitability index (PI) = Present value (PV) of future cash flows

Present value (PV) of initial investment

Own brand E-commerce Bargain market

Cash flow 2012/13

(Use total gross profit figures from Gross and net profit for each opportunity table above) $7,084,800 $7,164,000 $3,625,000

Opportunity cost 8% 8% 8%

(Future cash flow / 1 + Opportunity cost)

Present value of future cash flows $7,084,800 / 1.08 = $7,164,000 / 1.08 = $3,625,000 / 1.08 =

$6,560,000 $6,633,333 $3,356,481

Present value of initial investment

(Use total fixed cost figures from Gross and net profit for each opportunity table above) $6,884,714 $5,484,714 $4,884,714

Profitability index 0.95 1.2 0.69

Operational costs

Resources Costs

Additional staff $25,000 year average

Given: 4 additional warehouse workers + 6 additional drivers (4+6) x $25,000 =

$250,000

Plant and equipment Delivery trucks ($20,000 )

Given: 6 delivery trucks $20,000 x 6 =

$120,000

Forklifts ($10,000 )

Given: 3 Forklifts $10,000 x 3 =

$30,000

Promotional costs $500,000

Website developers Contractors ($2000/day)

Given: 50days $2000 x 50 =

$100,000

Staff training Online customer service training $3,000 per staff member

Given: 8 online & customer service people $3000 x 8 =

$24,000

Management change leadership training for store managers and team leaders $3,000 each

(From the BBQfun simulated business, Chapter 6 - Description of operations)

1 Brisbane store manager,

4 Brisbane team leaders,

1 Gold Coast store manager and

3 Gold Coast team leaders 9 x $3,000 =

$27,000

Warehouse and office reconfiguration

(From Gross and net profit for each opportunity table - Ecommerce - additional costs) $50,000

Total $1,101,000

Assessment Criteria - Investigate and evaluate marketing opportunities

Did the student submit the following documents

Completed Appendix 2: BBQfun Sales Data Worksheet

Evaluation report for the Board of Directors that ranks the three marketing opportunities in terms of viability and likely contribution to the business and assesses the impact of the top-ranked opportunity on operations.

Within the required timeframe

Did the student submit an evaluation report that:

Identifies and analyses opportunities in terms of their likely fit with BBQfun's goals and capabilities. Report refers to:

? Organisational marketing plan, structure, products and services. For example, report considers opportunities in light of strategic directions and possible expansion plans

? Principles of marketing and the marketing mix.

o For example, report refers to importance of consumer and market data to determine customer need;

o Report refers to elements of the marketing mix entailed by each opportunity: Price changes and discounts, Product offering, Distribution

(online), Promotion ($500,000 marketing campaign).

Evaluates each opportunity to determine its impact on current business and customer base.

Based on the calculations completed in BBQfun Sales data worksheet:

? Effect on sales volume for each opportunity for 2012/13

? Market share

? Profitability (gross and net profit for 2012/13) (see example calculations)

? Own brand may be knocked out of contention because of market need for Australian made goods.

Includes at least two instances of numerical analysis or statistical methods (completed using BBQfun Sales data worksheet). For example:

? Profitability index

? Least squares to calculate online market

? CVP analysis to calculate gross and net profit.

Uses an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity

Identifies external factors relevant to each opportunity, for example:

• ATO Regulations and GST implications of importation relevant to own brand opportunity

• manufacturing, Australian standards consideration relevant to own brand opportunity

• E commerce Best Practice Model relevant to e-commerce opportunity

• Marketing codes of practice and conduct, such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice, The Free TV Australia Commercial Television Industry Code of Practice, and the Australian:

o Privacy Act

o Anti-discrimination legislation

o Competition and Consumer Act.

Refers to relevant BBQfun policies and procedures.

Assesses and summarises the viability of each opportunity:

? Major costs associated with each opportunity, for example:

? Reconfiguration (e-commerce)

? Lease (own brand)

? Plant and equipment (own brand).

? Potential benefits, for example financial and strategic

? Risks associated with each opportunity and (mitigation strategies), for example:

? Competition from competitors entering e-commerce space (increased marketing spend, reducing margins)

? WHS, insurance risks associated with manufacturing (training)

? WHS risks associated with increased traffic and distribution (training)

? Risks associated with managing change in the organisation (leadership training for managers).

Determines probable return on investment i.e. Profitability index calculations completed in the BBQfun sales data worksheet

Determines potential competitors, for example:

• The Yard: has a limited selection but significant depth. All Australian made. No significant marketing or promotion. The price point is high, but the quality of products is quite good. Not in SE Queensland. Considering e-commerce options. Considered potential treat for entering market through e-commerce because of large distribution network.

o E-commerce could mitigate or head-off threat

• BBQ's R us: Broad range of outdoor lifestyle products including trinkets and furnishings. Lots of cheap imports. Concentrating on established markets. Strong in the replacements segment. One store in Brisbane. Mostly in Melbourne and Adelaide.

o Considering e-commerce options.

• Outdoorz: Large operations of only a few stores per city. Mass markets outdoor lifestyles at good value prices. No imported goods. Extensive advertising. Low to medium quality. Strong in the replacement segment rather than new and refurbished dwellings. Gaining strength in Brisbane market. Considering
e-commerce options.

o Bargain market opportunity could capture market share.

Describes and ranks marketing opportunities in terms of their viability and likely contribution to the business i.e. it considers financial and non-financial information in arriving at ranking. Determines ranking based on the calculation completed in BBQfun Sales data worksheet for:

1. E-commerce

2. Own brand (But may be considered knocked out because of risk of offending market)

3. Bargain market.

Identifies and documents changes needed to current operations to take advantage of viable marketing opportunities. Identifies changes, for example:

? Current stores may need to be reconfigured to accommodate more stock and online order delivery

? Office space may need to be reconfigured

? Head office could move to gold coast to allow office space in Brisbane to be used for online sales and customer service

? CRM and ERP software may need to be adapted to accommodate increased distribution. Extra training may be needed.

Ensures organisational changes to service an increased or different customer base include provisions for continued quality of service to existing customers.

Identifies:

• Service an increased or different customer base., for example:

o Need for trained online customer service staff

o Additional staff required in warehouse

o Sales training required.

• Ensure continued quality of service, for example:

o Training required for online customer service staff

o Training required for all staff on importance of service quality to target market.

Justifies changes on the basis of maintaining quality.

Estimates resource requirements for changed operations.

Identifies resource requirements and explains costs based on the calculations completed in BBQfun Sales data worksheet.

Determines and communicates viability of making changes to current operations to key stakeholders.

Documents newly identified marketing opportunities and required changes

Did the student

Use appropriate language and level of formality in documenting their report to satisfy needs of readers:

? Formal language

? Technical vocabulary; no need to define terms such as ‘marketing mix'

? Assumed knowledge of organisational policies and marketing strategies.

Prepare a report that addresses to the Board of Directors as per BBQfun scenario and conforms to all requirements and specifications of BBQfun and assessment procedure.

Evaluate marketing opportunities to determine whether they will meet organisational objectives

Document how current business operations will need to be modified and what resources will be required to take advantage of newly identified and evaluated opportunities.

Demonstrate literacy skills to identify and interpret market information, to write in a formal style appropriate to a professional audience and to document outcomes and requirements

Demonstrate Numeracy skills to calculate and evaluate financial information on new marketing options

Demonstrate understanding of principles of marketing and the marketing mix

Demonstrate understanding of organisational marketing plan, structure, products and services

Demonstrate understanding of statistical methods and techniques to evaluate marketing opportunities, including forecasting techniques.

Session 1 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Identifying marketing opportunities

Discussion: Case study analysis

Discussion: Pareto Principle

1. After the introduction, you should move on to provide more detail about analysis techniques:

a. environmental, industry and competitor analysis

b. customer analysis - segmentation.

o Simply Roses: Customer analysis

2. Ask learners to undertake the learning activity from Section 1 of the Student Workbook, ‘Simply Roses - Customer analysis'.

1. Alternatively, provide learners with the Simply Roses Workbook scenarios (Appendix 1) and the following questions from the activity:

a. Identify three motivations of the highest spending Simply Roses customers to buy Simply Roses products. This group consists of women aged 45 years and over who all have incomes of greater than $100,000 per annum.

b. Consider the market groups that are not Simply Roses customers. Identify three possible motivations for the following customers not to buy Simply Roses products:

i. Women aged 25 years to 45 years

ii. Females from Teens to 25 years.

c. How could Simply Roses adjust their marketing strategies to target the following markets?

i. Women aged 25 years to 45 years

ii. Females from Teens to 25 years.

3. From what they have identified in the above task, ask learners to identify which customer segment would best achieve the desired performance of $2 million revenue per annum.

4. Learners to work in groups to discuss and report back to the group.

2. Qualitative and quantitative research methods

5. Explain to learners an outline of the different methodologies of qualitative and quantitative research methods.

6. Learners are to complete the learning activity ‘Qualitative and quantitative research 1' in Section 1 of the Student Workbook to plan and discuss how Simply Roses could plan qualitative and quantitative research questions.

3. Alternatively, provide learners with the following questions from the activity:

a. Qualitative research:

i. Plan four questions that Simply Roses could ask its customers from the 25 years to 45 years age group in a focus group.

b. Quantitative research:

i. Plan three questions that could be used as an internet based survey when Simply Roses customers purchase a product using PayPal.

ii. The purpose of the questions are to find out what other products customers would buy and the price they would be prepared to pay.

4. Break-even analysis

7. Once a strategy and possible product or service has been identified, learners are to outline how to calculate a break-even analysis.

8. Learners are then to complete break-even analysis calculations in the Student Workbook.
Follow-up questions

Ask learners the following questions to prompt discussion:

? Is this type of analysis conducted in the business where you work?

? Are other types of customer analysis undertaken?

? How is this information acted upon in the business?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Analysing information on market and business needs.

Researching new markets and their contribution to the business.

Entrepreneurial marketing approaches.

Handout Student Assessment Guide

Session 2 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Identifying marketing opportunities

Discussion: Case study analysis

Discussion: Pareto Principle

1. Divide learners into three teams.

2. Each team will have four tasks:

a. take notes and summarise the guest's presentation

b. devise two questions to ask the presenter

c. provide a summary of the presentation to other learners by the next session.

Follow-up activity

? Ask learners how they could incorporate ideas from the presentations into their case study analyses for Assessment Task 1

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours.

Session 3 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Investigating market opportunities

Profitability index calculator

1. Learners can conduct this activity individually or in pairs.

2. Draw the following table on the whiteboard or flip chart:

3. Instruct learners to visit the website below and use the online profitability index calculator to help them to rank the projects in the table.

a. ‘Profitability index calculator', Money-Zine, viewed June 2012, https://www.money-zine.com/Calculators/Investment-Calculators/Profitability-Index-Calculator/ .

4. As a group, discuss learners' rankings and create a definitive list on the whiteboard/flip chart.
Follow-up questions

Ask learners the following questions to prompt discussion:

? Why would you need to calculate a profitability index?

? What are your observations of the online profitability index calculator?

Was it helpful?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Organisational fit of new marketing opportunities.

Evaluation of new opportunities.

External factors affecting financial viability of marketing opportunities.

Return on investment and potential competitors.

Describing and ranking marketing opportunities.

Session 4 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Investigating market opportunities

Profitability index calculator

Review

Marketing strategies

1. Break learners into pairs.

2. Pairs are to search the bank websites to identify their strategy and business objectives.

3. Ask learners to identify what differences there are (if any) between the marketing strategies the banks employ for their products.

4. Learners can document their ideas on butchers' paper before presenting them to the rest of the group.

Follow-up questions

Ask learners the following questions to prompt discussion:

? Was it easy for you to identify the banks' strategies and business objectives? Why/why not?

? Why do you think some banks choose particular strategies over others that work for other banks?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Organisational fit of new marketing opportunities.

Evaluation of new opportunities.

External factors affecting financial viability of marketing opportunities.

Return on investment and potential competitors.

Describing and ranking marketing opportunities.

Session 5 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Investigating market opportunities

Profitability index calculator

Review

Marketing strategies

Review

Competitors

1. As a group, discuss and identify the classes of competitors:

a. Strong versus weak.

b. Close versus distant.

c. Good versus bad.

2. Break learners into small teams of two to three.

3. Provide teams with copies of a case study that contains simulated or real organisational documents and information sufficient for learners to be able to analyse competitors':

a. Strengths and weaknesses

b. Sales

c. Marketing

d. Customer service

e. Pricing.

4. Using the internet, each team is to identify who the businesses' four main competitors are.

5. Provide learners with copies of the Competitor Profiling Activity (Appendix 2).

6. Learners are to complete each table (to the best of their ability) as follows:

a. For the first, rate the competitors by number and estimated market share.

b. For the second, make some estimations of the competition.

c. For the third table, assess each competitor's product or service and profitability.

7. Bring the whole group back together and discuss.

Follow-up questions

Ask learners the following questions to prompt discussion:

? Could you find all the information required by the tables? What couldn't you find? What do you think prevented you from accessing the information?

? How do you feel the organisation in the case study/scenario compared to the competitors you identified?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Organisational fit of new marketing opportunities.

Evaluation of new opportunities.

External factors affecting financial viability of marketing opportunities.

Return on investment and potential competitors.

Describing and ranking marketing opportunities.

Session 6 of 10

Units of Competencies Content Notes

Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Investigating market opportunities

Profitability index calculator

Review

Marketing strategies

Competitors

Review

Legislation.

1. You should identify any learners in the group who may already be working in the marketing environment.

2. Find out about their experiences in relation to marketing practice and legislation.

3. Discuss relevant legislation, codes of practice and national standards that will impact business decision-making in marketing, showing learners the websites of the following:

a. Legislation:

i. Competition and Consumer Act 2010, https://www.accc.gov.au/content/index.phtml/itemId/788579

ii. Guide to advertising and selling under the Competition and Consumer Act 2010, https://www.accc.gov.au/content/index.phtml/itemId/
655127

iii. Do-Not-Call legislation, https://www.donotcall.gov.au/consumerfaq.cfm

iv. Privacy legislation in Australia, https://www.privacy.gov.au

v. Do Not Call Register Small Business Guide, https://www.acma.gov.au/webwr/_assets/main/lib100844/donotcall-guide-for-your-business.pdf

vi. Australian Register of Government Lobbyists and the associated Lobbying Code of Conduct, https://lobbyists.pmc.gov.au .

b. Codes of practice:

i. Australian eMarketing Code of Practice, https://www.acma.gov.au/WEB/STANDARD/pc=PC_7011

ii. The Advertising Standards Bureau (ASB), https://www.adstandards.com.au .

c. e-Marketing Regulation in Australia:

i. Spam legislation, https://www.acma.gov.au/WEB/STANDARD/pc=PC_2861

ii. Australian Securities and Investments Commission (ASIC), https://www.asic.gov.au

iii. Australian Institute of Company Directors (AICD), https://www.companydirectors.com.au .

d. Intellectual property:

i. Trademarks, https://www.ipaustralia.gov.au

ii. Australian copyright law: Copyright Agency Limited (CAL), https://www.copyright.com.au/

iii. International copyright law: Digital Millennium Copyright Act (USA), https://www.copyright.gov .

e. Industry codes of practice associations:

i. Australian Direct Marketing Association (ADMA) Code of Practice, https://www.adma.com.au

ii. Commercial Television Code of Practice, https://www.acma.gov.au/WEB/STANDARD/pc=IND_REG_CODES_

BCAST

iii. Australian Communications and Media Authority (ACMA), Commercial Television Industry Code of Practice, https://https://www.freetv.com.au/ .

f. General legislation (not industry specific):

i. Anti-discrimination and equal rights:

(1) Age Discrimination Act 2004

(2) Australian Human Rights Commission Act 1986

(3) Disability Discrimination Act 1992

(4) Racial Discrimination Act 1975

(5) Sex Discrimination Act 1984

https://www.hreoc.gov.au/info_for_employers/fact/index.html .

ii. Privacy legislation, https://www.privacy.gov.au

iii. Work health and safety legislation, https://www.safeworkaustralia.gov.au/sites/swa/legislation/pages/modelwhslegislation.aspx .

Follow-up questions

Ask learners the following questions to prompt discussion:

? Have any learners been exposed to marketing practice that is against the law?

? Are they more aware of who to make a complaint to should this happen again?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Organisational fit of new marketing opportunities.

Evaluation of new opportunities.

External factors affecting financial viability of marketing opportunities.

Return on investment and potential competitors.

Describing and ranking marketing opportunities.

Session 7 of 10

Units of Competencies Content Notes

BSBMKG501B Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Group activity - gathering information about a classmate

Evaluating required changes to current operations

Review

Customer service

1. Break learners into pairs.

2. Pairs are to discuss any customer service problems they have encountered when dealing with a business just starting up.

3. Bring the whole group back together to discuss.

Follow-up questions

Ask learners the following questions to prompt discussion:

? What common issues have you noticed?

? Are there particular challenges, do you think, to customer services when starting a business?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Identifying and documenting organisational changes.

Maintaining service quality when new opportunities are embraced.

Estimation of resources required for changed operations.

Determining changes and communicating with key stakeholders.

Documenting new marketing opportunities.

Session 8 of 10

Units of Competencies Content Notes

Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Group activity - gathering information about a classmate

Evaluating required changes to current operations

Review

Customer service

1. Break learners into pairs.

2. Pairs are to discuss any customer service problems they have encountered when dealing with a business just starting up.

3. Bring the whole group back together to discuss.

Follow-up questions

Ask learners the following questions to prompt discussion:

? What common issues have you noticed?

Are there particular challenges, do you think, to customer services when starting a business?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Identifying and documenting organisational changes.

Maintaining service quality when new opportunities are embraced.

Estimation of resources required for changed operations.

Determining changes and communicating with key stakeholders.

Documenting new marketing opportunities

Session 9 of 10

Units of Competencies Content Notes

Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Group activity - gathering information about a classmate

Evaluating required changes to current operations

Review

Customer service

Review

Stakeholders.

1. Provide copies of the case study to each learner.

2. Allow five to ten minutes for learners to read the case study.

3. As a group, compile a list of stakeholders that may have influence on the business in the case study. Write the list on the whiteboard/flip chart.

4. For each stakeholder listed, as a group, identify:

a. Their motives and aspirations in regard to the business

b. The best way to communicate with each stakeholder.

Follow-up questions

Ask learners the following questions to prompt discussion:

? How did you go about identifying who the stakeholders were?

? What did you consider when working out stakeholder motives?

? Why could communication styles differ between stakeholders?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Identifying and documenting organisational changes.

Maintaining service quality when new opportunities are embraced.

Estimation of resources required for changed operations.

Determining changes and communicating with key stakeholders.

Documenting new marketing opportunities

Session 10 of 10

Units of Competencies Content Notes

Identify and evaluate marketing opportunities

Element 1. Identify marketing opportunities

Element 2. Investigate marketing opportunities

Element 3. Evaluate required changes to current operations

Group activity - gathering information about a classmate

Evaluating required changes to current operations

Review

Customer service

Review

Stakeholders.

1. Provide copies of the case study to each learner.

2. Allow five to ten minutes for learners to read the case study.

3. As a group, compile a list of stakeholders that may have influence on the business in the case study. Write the list on the whiteboard/flip chart.

4. For each stakeholder listed, as a group, identify:

c. Their motives and aspirations in regard to the business

d. The best way to communicate with each stakeholder.

Follow-up questions

Ask learners the following questions to prompt discussion:

? How did you go about identifying who the stakeholders were?

? What did you consider when working out stakeholder motives?

? Why could communication styles differ between stakeholders?

Equipment Requirements:

Student Workbooks, activities, templates

PowerPoint, readings

Computer with internet facility, printer, projector and white board.

Timeframe Requirements:

7 Hours

Identifying and documenting organisational changes.

Maintaining service quality when new opportunities are embraced.

Estimation of resources required for changed operations.

Determining changes and communicating with key stakeholders.

Documenting new marketing opportunities.

Reference no: EM13840629

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