BSBMKG502 Establish and Adjust the Marketing Mix Assessment Answers

BSBMKG502 Assessment Answers for Establish and Adjust the Marketing Mix

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Assessment Task 1: Written Questions

Task summary

  • This is an open book test, to be completed in the classroom.
  • A time limit of 1 hour to answer the questions is provided.
  • You need to answer all of the written questions correctly.
  • Your answers must be word processed and submit to the assessor.

Required

  • Access to textbooks/other learning materials
  • Computer and Microsoft Office
  • Access to the internet

Timing

Your assessor will advise you of the due date of this assessment.

Submit

  • Answers to all questions

Assessment criteria

All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.

Re-submission opportunities

You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

If any parts of the task are not satisfactorily completed,the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Written answer question guidance

The following written questions use a range of “instructional words” such as “identify” or “explain”, which tell you how you should answer the question. Use the definitions below to assist you to provide the type of response expected.

Note that the following guidance is the minimum level of response required.

Analyse – when a question asks you to analyse something, you should do so in in detail, and identify important points and key features. Generally, you are expected to write a response one or two paragraphs long.

Compare – when a question asks you to compare something, you will need to show how two or more things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are expected to write a response one or two paragraphs long.

Contrast – when a question asks you to contrast something, you will need to show how two or more things are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to write a response one or two paragraphs long.

Discuss – when a question asks you to discuss something, you are required to point out important issues or features and express some form of critical judgement. Generally, you are expected to write a response one or two paragraphs long.

Describe – when a question asks you to describe something, you should state the most noticeable qualities or features. Generally, you are expected to write a response two or three sentences long.

Evaluate – when a question asks you to evaluate something, you should do so putting forward arguments for and against something. Generally, you are expected to write a response one or two paragraphs long.

Examine – when a question asks you to examine something, this is similar to “analyse”, where you should provide a detailed response with key points and features and provide critical analysis. Generally, you are expected to write a response one or two paragraphs long.

Explain – when a question asks you to explain something, you should make clear how or why something happened or the way it is. Generally, you are expected to write a response two or three sentences long.

Identify – when a question asks you to identify something, this means that you are asked to briefly describe the required information. Generally, you are expected to write a response two or three sentences long.

List – when a question asks you to list something, this means that you are asked to briefly state information in a list format.

Outline – when a question asks you to outline something, this means giving only the main points, Generally, you are expected to write a response a few sentences long.

Summarise – when a question asks you to summarise something, this means (like “outline”) only giving the main points. Generally, you are expected to write a response a few sentences long.

Assessment Task 1 Instructions

Provide answers to all of the questions below:

  1. Outline two organisational policies and procedures that are relevant to marketing.
  2. Analyse the following information on products and services and, based on your analysis, recommend an appropriate marketing communication method. Provide a rationale for your recommendation.

Product

Nature Care Products is an Australian owned producer of natural skin care products. Its main target groups are professional women aged 25 – 55. The company wishes to promote its products as high quality, eco-friendly products. Currently products are sold online and through health care shops. However, the company wishes to find other media options that fit its branding image. Being a profitable company, it can afford to spend at least $50,000 on marketing.

Service

Grow Management Consultants provide leadership development services to businesses. The company has been established for six months only and has 5 clients. The company would like to expend its client based but due to limited funds is seeking advice on low cost and effective media options.

  1. Outline how the development of new products or services can provide marketing opportunity options for a business, both in existing and new markets.
  2. Describe the purpose of the marketing mix and each of its components.
  3. Describe three key principles of consumer behaviour and their influences on consumer buying behaviour
  4. Describe how consumer behaviour impacts on determining the marketing mix.
  5. Describe the product life cycle and its impact on the marketing mix.
  6. Describe three types pricing strategy that a business could adopt
  7. Describe three types of promotional strategy that a business could use.
  8. Describe the three types of distribution strategy,
  9. Outline two statistical techniques that can be used to gather and analyse marketing information.
Student’s name:
Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? Completed successfully Comments
Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Task Outcome: Satisfactory   ¨ Not Satisfactory   ¨
Assessor signature
Assessor name
Date

 

Assessment Task 2: Marketing Mix Selection Project

Task summary

This assessment task requires you to identify and report on a suitable marketing mix for a case study company.

This assessment is to be completed in the simulated work environment in the RTO.

Required

  • Access to textbooks/other learning materials
  • Computer with Microsoft Office and internet access
  • Marketing Mix Report Template

Timing

Your assessor will advise you of the due date of these submissions.

Submit

  • Draft of an email along with marketing mix report

Assessment criteria

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed,you will be asked to complete further assessment to demonstrate competence.

Re-submission opportunities

You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Assessment Task 2 Instructions

Carefully read the following:

Local Realtors are a Real Estate company operating in Melbourne, Victoria Familiarise yourself with the company and its vision in the Case Study document.

For the purposes of this assessment, assume that you are the Marketing Manager of Local Realtors and that your assessor is the Managing Director.

Complete the following activities:

  1. Write a marketing mix report

Ensure that you understand the products and/or services provided by the business, marketing objectives, target customers, pricing and promotional and distribution methods, as well as desired positioning.

You will also need to conduct research about the external environment that the business is operating in, for example, current economic conditions, legal or political factors that affect the business and consumer needs and preferences in relation to the product/service offered by the business.

You will use all of the above information to prepare your report. Your report must address all of the following:

  1. Overview of the company and its objectives, desired position and target market characteristics
  2. An evaluation of components of the marketing mix as follows:

Product/Service:

  • Who is the product or service aimed at?
  • What key features and benefits does the product or service provide?
  • What will be the most important features or benefits of the product or service in relation to the target market?

Price:

  • What is the business’ approach to pricing?
  • How will pricing of the product or service affect take up of the product or service?
  • Considering the factors above, what price should the product or service be offered at?
  • Should any additional price variables be considered such as discounts?

Promotion:

  • What possibilities are there for promoting the product/service?
  • What targeting strategies could be used?
  • What is the best way/s to promote the product/service?

Place:

  • What possible distribution channels are there for the product/service?
  • What is the best way/s to distribute the product/service?
  • People and Customer service:
  • What type and level of customer service are provided to customers?
  • What customer service will be provided from the product/service?
  1. Analysis of varying the marketing mix
  • the importance of each component of the marketing mix.
  • Impact of varying components of the marketing mix. For example, if the price for the product or service was varied, how would this affect the promotion?
  • at least four examples of how varying a marketing mix variable affects another part of the marketing mix variable.
  1. Determination of the final marketing mix
  • External environmental factors that may impact on the selected marketing mix, for example, economic conditions, the political or legal environment?
  • Effect of identified environmental factors on the marketing mix?
  • Consumer priorities, needs and preferences that affect the marketing mix for the product/service.
  • Impact of marketing objectives (including positioning as identified in the marketing objectives), as well as target customer characteristics have on the selected marketing mix?
  1. Recommended marketing mix for the product or service based on a review of all factors.

Although not every one of these points and questions can be conclusively answered for this case study, you are expected to show that you understand the point being discussed. If it does not directly apply to the case study, state why, and how it could be relevant in another situation.

The report should be approximately 3 to 4 pages long.

Use Marketing Mix Report Template to guide your work.

  1. Prepare a draft of an email to be sent to the Managing Director (your assessor).

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment.

Submit your Marketing Mix Report along with the draft of email.

Assessment Task 2 Checklist

Student’s name:
Did the student: Completed successfully Comments
Yes No
Provide an analysis of overview of the company and its objectives, desired position and target market characteristics?
Provide an analysis of:

  • Who is the product or service aimed at?
  • What key features and benefits does the product or service provide?
  • What will be the most important features or benefits of the product or service in relation to the target market?
Provide an analysis of pricing of product/service including:

  • General approach to pricing?
  • Impact of price on demand?
  • Recommended pricing strategies?
  • Additional price variables to be considered such as discounts?
Provide an analysis of:

promotional methods including:

  • The range of promotional methods?
  • Targeting strategies?
  • Recommended promotional methods?
Provide an analysis of the range of distribution channels and recommended way/s to distribute the product or service?
Provide an analysis of:

provision of type and level of customer service are provided to customers and intended customer service?

Provide an analysis of varying the marketing mix including:

  • The importance of each component of the marketing mix.
  • Impact of varying components of the marketing mix. For example, if the price for the product or service was varied, how would this affect the promotion?
  • at least four examples of how varying a marketing mix variable affects another part of the marketing mix variable?
Provide an analysis of the impact of external factors including:

  • External environmental factors that may impact on the selected marketing mix, for example, economic conditions, the political or legal environment?
  • Effect of identified environmental factors on the marketing mix?
Provide an analysis of consumer priorities, needs and preferences that affect the marketing mix for the product/service?
Provide an analysis of the impact of marketing objectives (including positioning as identified in the marketing objectives), as well as target customer characteristics have on the selected marketing mix?
Provide an analysis of recommended marketing mix for the product or service based on a review of all factors?
Use effective written communication skills to clearly explain concepts and ideas?
Task Outcome: Satisfactory   ¨ Not Satisfactory   ¨
Assessor signature
Assessor name
Date

 

Assessment Task 3: Marketing Mix Adjustment Report

Task summary

For this assessment task,the you are required to develop a short report about adjusting the marketing mix for the case study based in response to lower than expected sales.

This assessment is to be completed in the simulated work environment in the RTO.

Required

  • Access to textbooks/other learning materials
  • Computer with Microsoft Office and internet access
  • Case Study
  • Revised Marketing Mix Report Template

Timing

Your assessor will advise you of the due date of these submissions.

Submit

  • Draft of an email along with revised marketing mix report

Assessment criteria

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.

Re-submission opportunities

You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Assessment Task 3 Instructions

Carefully read the following:

It is 1 year later, and the marketing mix that you had selected has not resulted in the desired increase in sales.

  • Whereas Local Realtors’ business goal was to exceed $1.7 million in revenue in the first year, but only $1.5 million in revenue was realised.
  • Due to an economic contraction over the last year, first home purchases dropped 10%.
  • The company’s share of the first-time couples’ house purchase business increased 2%.
  • The proportion of leads that have been converted into sales has remained constant

As a result, you need to review the marketing mix and provide a brief report on recommended changes.

In developing your report, you should take into account that the Managing Director has indicated that any changes must ensure that overall business objectives are still met, as well as the desired positioning as expressed in the marketing objectives in the Marketing Plan.

You have also been asked to ensure than the change incurs either minimal or no expenses.

Complete the following activities:

  1. Write a revised marketing mix report

The report should address each of the points below.

  • An analysis of market trends in Melbourne real estate over the last twelve months, and whether this may have affected Local Realtors’ results.
  • A review of any changes to legislation (such as negative gearing, or lending restrictions, and whether this may have affected Local realtors’ results.
  • An analysis of each component of the marketing mix and possible reasons as to why this component of the marketing mix may have not led to the increase in sales desired.
  • Based on the information that your assessor has given you, an analysis of which component/s of the marketing mix should be changed and why.
  • Testing marketing mix components. Choose two components of the marketing mix changes that you have suggested and outline how their influence on overall performance could be tested.
  • An assessment of how you think changing the component/s of the marketing mix affect the business’ performance, especially with regard to sales.
  • An assessment of how you believe changing the component of the marketing mix will affect the business’ customers
  • How you consider the changes you suggest still meet business objectives
  • Whether changes to the marketing mix will incur further expenses

Although not every one of these points and questions can be conclusively answered, you are required to demonstrate that you understand the point being discussed.

The report should be approximately 2 to 3 pages long.

Use Revised Marketing Mix Report Template to guide your work.

  1. Prepare a draft of an email to be sent to the Managing Director (your assessor).

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment,

Submit your Revised Marketing Mix Report along with the draft email.

Assessment Task 3 Checklist

Student’s name:
Did the student: Completed successfully Comments
Yes No
Provide an analysis of external environmental factors that may impact on the marketing mix, for example, economic conditions, the political or legal environment?
Monitor their marketing mix against company performance and isolate components that could be tested?
Report on component/s of the marketing mix that could be changed and why?
Assess how changing the component/s of the marketing mix affect the business’ performance?
Assess how changing the component of the marketing mix may affect the business’ customers?
Discuss how changes to be made to marketing mix can still ensure that business objectives are met?
Discuss how changes to the marketing mix will ensure that minimal or no further expenses are incurred?
Task Outcome: Satisfactory   ¨ Not Satisfactory   ¨
Assessor signature
Assessor name
Date

 

Assessment Task 4: Marketing Mix Case Study

Task summary

This assessment task requires you to review a case study and provide answers to questions based on the case study

The questions and their answers should be provided in a new Word document andsaved as Case Study Report.

This assessment is to be completed in the simulated work environment in the RTO.

Required

  • Access to textbooks/other learning materials
  • Computer with Microsoft Office and internet access

Timing

Your assessor will advise you of the due date of these submissions.

Submit

  • Case study report

Assessment criteria

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.

Re-submission opportunities

You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly, or have other appropriate grounds for an appeal.

You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Assessment Task 4 Instructions

Listen to, or read the case study at the following link:

http://businesscasestudies.co.uk/parcelforce-worldwide/using-the-marketing-mix-to-drive-change/introduction.html#axzz2YPRzq8SW

Answer the questions below.

Each question should be answered in approximately one paragraph.

  • What was the key starting point for Parcelforce Worldwide in adjusting the marketing mix?
  • What were the key outcomes of the research conducted into Parcelforce Worldwide’s services?
  • What changes did Parcelforce Worldwide make to its pricing strategies to meet identified needs and why?
  1. What changes did Parcelforce Worldwide make to its distribution strategies and why?
  2. What promotional strategies is Parcelforce Worldwide using to meet identified needs? How does the company decide on which promotional activities give the best return on investment?
  3. Describe one further change that Parcelforce Worldwide could make to any aspect of the marketing mix.
  4. What do you think was a key success factor for Parcelforce Worldwide in adjusting its marketing mix?

Assessment Task 4 Checklist

Student’s name:
Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? Completed successfully Comments
Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Task Outcome: Satisfactory   ¨ Not Satisfactory   ¨
Assessor signature
Assessor name
Date

 

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