Reference no: EM13838391
Activity 1
A small stationery shop recorded its diary sales for the years 2007 to 2011 in two tables provided
Dairy Sales
Year Units sold Sales value Average unit Value Average unit profit
2007 135 $1,300.75 $9.64 $5.78
2008 98 $988.82 $10.09 $5.05
2009 80 $897.58 $11.22 $4.82
2010 48 $803.3 $16.74 $7.03
2011 37 $421.8 $11.4 $4.21
Percentage diary Sales by customer age group
Age group 2007 2008 2009 2010 2011
30 32% 29% 16% 11% 6%
31-50 40% 40% 51% 52% 61%
51 28% 31% 33% 37% 33%
1. What further information would you need to analyse information on market and business needs to identify marketing opportunities?
Competitors' performance, Customer requirements, legal requirements, ethical requirements, market trends and developments, new and emerging markets.
2. What trends are revealed by the diary sales data?
The units sold and the average unit profits are decreasing, according the results from 2007 to 2011. On the other hand, the average unit value is getting high.
3. What trends are revealed by the percentage by age group data?
Age group 30 are minority customer. On the other hand, people aging 51 are considered target customer, but not as outstanding as people aging from 31 to 50, which the results show the percentage increasing for them.
4. You are contracted by an organization (of your choice) to analyze information on market and business needs to identify marketing opportunities. Briefly describe the organization and its current markets and then present your analysis in the table provided
Information Analysis Value to the organization
Comparative market information
Competitor performance
Customer requirements
Legal requirements
Ethical requirements
Market trends and developments
New emerging markets
Profitability
Sales figures
Activity 2
1. You are in charge of a research team which has been contracted by an organisation (of your choice) 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 organisation's 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 (identified in Activity 2 part
1) of attempting to enter your chosen market?
Activity 3
1. 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?
2. What are the four main sources of entrepreneurial marketing ideas?
3. Identify one idea suggested by each of these sources, showing how the idea was developed and analysing its potential for developing into a marketing opportunity, and showing how it would fit with the entrepreneur's current business.
Activity 4
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.
Identify a new market opportunity and analyse it, using this Checklist
Criteria Current Goals
Sales revenue
Profit margins
Staff levels
Staff training
Market segments
Product mix
2. 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.
Activity 5
Your supervisor has asked for your help in the marketing department. 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 factors which could determine the financial viability of each of the opportunities. Upload your answer for assessment.
3. Write a report which summarises your analyses and assesses the financial viability of each opportunity. Upload your answer for assessment.
Activity 6
The 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 investment for the marketing opportunity which you identified in question one. Use representative values
Activity 7
You have identified three new marketing opportunities for the 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 describe 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. Upload your answer for assessment.
Activity 8
Your client has identified a viable marketing opportunity and has asked you to identify and document changes needed to current operations to take advantage of this opportunity.
1. Create a brief that you received from your client, giving background information on their organisation and describing the opportunity (ie create a scenario). Upload your answer for assessment.
2. Write your report, showing the criteria you have considered and the changes required in each area. Upload your report for assessment
Activity 9
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. The 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 to their current customers and to their new ones?
Activity 10
1. What resource requirements must be estimated before an organisation enters a new market?
2. Your manufacturing organisation is deciding whether to expand by introducing a new product to your existing markets, or to enter the market in a new city with your existing products. Compare the estimated resource requirements for each potential market. Upload your answer for assessment.
Activity 11
1. Who are the key stakeholders in any organisation and what information do they need to ensure that proposed changes to current operations will be viable?
2. The 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 organisation's current markets
Activity 12
1. What changes can be needed when an organisation takes advantage of new marketing opportunities?
2. The organisation has committed 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. Upload your memo for assessment.