BSBMKG501 Identify and Evaluate Marketing Opportunities Assessment 2022

Module 5
Term and Year Term 3 2019
Qualification : BSB50215 Diploma of Business
Unit Code: BSBMKG501
Unit Title: Identify and evaluate marketing opportunities
Assessment
Task 1: Case study & short questions
Task 2: Short questions
Student Name:
Student ID No:
Assessor’s Name: Andrey Loburets/ Michal Tomcik
Student Declaration: I declare that this work has been completed by me honestly and with integrity. I understand that the
Elite Education Vocation Institute’s Student Assessment, Reassessment and Repeating Units of Competency Guidelines
apply to these assessment tasks.
Student Name:
Student Signature: Date:
Assessment submission (new) requirements
Please save this file as PDF format (include your name to the filename) before uploading onto Moodle.
Assessment deadlines penalty
It is expected that unless a simple extension, special consideration or disability services adjustment has been granted,
candidates will submit all assessments for a unit of study on the specified due date. If the assessment is completed or
submitted within the period of extension, no academic penalty will be applied to that piece of assessment.
If an extension is either not sought, not granted or is granted but work is submitted after the extended due date, the late
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submission of assessment will result in a late penalty fee. For further information, please refer to the Assessment Policy.
Assessment/evidence gathering conditions
Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A student can only
achieve competence when all assessment components listed under procedures and specifications of the assessment
section are Satisfactory. Your trainer will give you feedback after the completion of each assessment. A student who is
assessed as NYS is eligible for re-assessment. Should the student fail to submit the assessment, a result outcome of Did
Not Submit (DNS) will be recorded.
Principles of Assessment
Based on Clauses 1.8 – 1.12 from the Australian Standards Quality Assurance’s (ASQA) Standards for Registered Training
Organizations (RTO) 2015, the learner would be assessed based on the following principles:
Fairness - (1) the individual learner’s needs are considered in the assessment process, (2) where appropriate, reasonable
adjustments are applied by the RTO to take into account the individual leaner’s needs and, (3) the RTO informs
the leaner about the assessment process, and provides the learner with the opportunity to challenge the result
of the assessment and be reassessed if necessary.
Flexibility – assessment is flexible to the individual learner by; (1) reflecting the learner’s needs, (2) assessing competencies
held by the learner no matter how or where they have been acquired and, (3) the unit of competency and
associated assessment requirements, and the individual.
Validity – (1) requires that assessment against the unit/s of competency and the associated assessment requirements
covers the broad range of skills and knowledge, (2) assessment of knowledge and skills is integrated with their
practical application, (3) assessment to be based on evidence that demonstrates that a learner could
demonstrate these skills and knowledge in other similar situations and, (4) judgement of competence is based
on evidence of learner performance that is aligned to the unit/s of competency and associated assessment
requirements.
Reliability – evidence presented for assessment is consistently interpreted and assessment results are comparable
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irrespective of the assessor conducting the assessment
Rules of Evidence
Validity – the assessor is assured that the learner has the skills, knowledge and attributes, as described in the module
of unit of competency and associated assessment requirements.
Sufficiency – the assessor is assured that the quality, quantity and relevance of the assessment evidence enables a
judgement to be made of a learner’s competency.
Authenticity – the assessor is assured that the evidence presented for assessment is the learner’s own work. This would
mean that any form of plagiarism or copying of other’s work may not be permitted and would be deemed
strictly as a ‘Not Yet Competent’ grading.
Currency – the assessor is assured that the assessment evidence demonstrates current competency. This requires the
assessment evidence to be from the present or the very recent past.
Resources required for this Assessment
 All documents must be created using Microsoft Office suites i.e., MS Word, Excel, PowerPoint
 Upon completion, submit the assessment via the student learning management system to your trainer along with the
completed assessment coversheet.
 Refer the notes on eLearning to answer the tasks
 Any additional material will be provided by Trainer
Instructions for Students
Please read the following instructions carefully
 This assessment is to be completed according to the instructions given by your assessor.
 Students are allowed to take this assessment home.
 Feedback on each task will be provided to enable you to determine how your work could be improved. You will be
provided with feedback on your work within 2 weeks of the assessment due date.
 Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge.
You will be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit
of competency.
 If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
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 Please refer to the College re-assessment and re-enrolment policy for more information.
Procedures and Specifications of the Assessment
Task 1
The candidate will demonstrate skills and knowledge required to investigate marketing opportunities.
You will analyse a real organisation or simulated business to identify two marketing opportunities, research potential new
markets, assess opportunities with respect to contribution to the business, and explore innovative approaches. You will
then prepare a brief presentation for marketing peers to support and explain the two marketing opportunities you have
identified.
You may base your analysis and report on BBQfun simulated business and requires you to identify and evaluate marketing
opportunities for your chosen organization or utilizing the BBQfun case study. Identify two marketing opportunities for the
organisation on your chosen organisation’s market and business needs in terms of:
 comparative market information
 competitors’ performance
 customer requirements
 legal and ethical requirements
 market share
 market trends and developments
 new and emerging markets
 profitability
 sales figures
Task 2
To complete the unit requirements safely and effectively, the individual must:
 Identify and document changes needed to current operations to take advantage of viable marketing opportunities
 Estimate resource requirements for changed operations
 Determine and communicate viability of making changes to current operations to key stakeholders
 Document newly identified marketing opportunities and required changes
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Task 1
 Identify two marketing opportunities for the BBQfun’s market and business needs in terms of:
Characteristics Overview What does it mean for BBQfun?
 Queensland overview
o High population growth of 5% per
year
o New homes and renovated homes
growing from a base of 50,000 per
year
o Low unemployment of 4.7%.
1. BBQ fun should introduce new
products. Population increase would
mean new customers with diverse
tastes and preferences which the
existing retailers may not have met
successfully. BBQ Fun should
conduct the market research to gain
information about the newly emerging
demands of customers. The company
can then market products in alignment
with the changing customer demands,
thus ensuing higher levels of customer
satisfaction and revenue generation.
2. The retail chain should offer
discounts in order to attract more
customers.
Geographic o Our immediate geographic target is
the area of Brisbane with a
population of 2,000,000
o A 30 km geographic area is the
average store market footprint
1. Introduce new products
2. Introduce new variants of existing
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a. comparative market information
o The total targeted population is
estimated at 450,000.
products.
Demographic
o Male and female
o Ages 20–50
o High percentage of young
professionals who work in the
central business district
o High percentage have completed
undergraduate/postgraduate study
o An average household income of
over $70,000.
1. Introduce premium lifestyle
products.
2. Extensively use ecommerce portals
and its own retail network to market
its products.
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b. competitors ‘performance
The Yard
o Has a limited selection but
significant depth.
o All Australian made and no
significant marketing or promotion.
o The price point is high, but the
quality of products is quite good.
o Not in south east Queensland and
considering e-commerce options.
o Considered potential treat for
entering market through e-
commerce because of large
distribution network
1. BBQ fun should introduce new
products. Population increase would
mean new customers with diverse
tastes and preferences which the
existing retailers may not have met
successfully. BBQ Fun should
conduct the market research to gain
information about the newly emerging
demands of customers. The company
can then market products in alignment
with the changing customer demands,
thus ensuing higher levels of customer
satisfaction and revenue generation.
2. The retail chain should offer
discounts in order to attract more
customers.
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Characteristics Overview What does it mean for BBQfun?
BBQ’s R Us o Broad range of outdoor lifestyle
products including trinkets and
furnishings.
o Lots of cheap imports and
concentrating on established
markets.
o Strong in the replacements
segment.
o Has one store in Brisbane as
mostly in Melbourne and Adelaide.
o Considering e-commerce options.
1. BBQ Fun should conduct the
market research to gain information
about the newly emerging demands of
customers. BBQ fun should introduce
new and innovative products
particularly in the outdoor lifestyle
segment. The company can then
market these products in alignment
with the changing customer demands,
thus ensuing higher levels of customer
satisfaction and revenue generation.
2. The company acquire its smaller
competitors to reduce threats of new
entrant firms.
3. The company should introduce a
line of products which would
exclusively Australian which would
make competitors selling generic
products difficult to replace.
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b. competitors ‘performance (cont.)
Outdoorz
o Large operations of only a few
stores per city.
o Mass markets outdoor lifestyles at
good value prices as there are no
imported goods.
o Extensive advertising and its
goods are pitched at low to
medium quality.
o Strong in the replacement
segment rather than new and
refurbished dwellings.
o Gaining strength in Brisbane
market. Considering e-commerce
options.
1. BBQ Fun should conduct the
market research to gain information
about the newly emerging demands of
customers. BBQ fun should introduce
new and innovative products
particularly in the outdoor lifestyle
segment. The company can then
market these products in alignment
with the changing customer demands,
thus ensuing higher levels of customer
satisfaction and revenue generation.
2. The company acquire its smaller
competitors to reduce threats of new
entrant firms.
3. The company should introduce a
line of products which would be
environment friendly and encourage
people to reuse and recycle them to
the feasible extent.
Factors What does it mean for BBQfun?
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Selection – a wide
choice of options.
1. This would mean that customers would have more options to choose
from the available product assortment.
2. BBQ Fun would be able to ensure higher level customer satisfaction
and customer loyalty.
3. Repeat business from existing customers and more revenue.
4. Acquisition of more customers.
Accessibility – the
customer needs easy
access to the store
with minimal
inconvenience.
1. Opening stores in locations which are more accessible to customers.
2. Making more goods available on the ecommerce portals.
Customer service – the
customer needs expert
customer service to
help sort through
choices.
1. Providing customer service on help line number round the clock.
2. Making it possible for customers to post questions on emails and get
reply on the same.
c. customer requirements (cont.)
Factors What does it mean for BBQfun?
Competitive pricing –
the customer needs all
products/services to
be competitively
priced.
1. Adopt competitive pricing for the products.
2. Provide some of the goods slightly lower than competitors.
Flexible payment – the
customer needs easily
managed payment
plan.
1. Provide EMI services to customers.
Quality guarantees –
the customer requires
three year product
guarantees (as offered
by most competitors).
1. Provide guarantee on specific products.
2. Provide after sales services to customers.
In the case of BBQfun’s marketing performance, we can see from the table below suggesting its findings of survey of
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500 customers as follows:
Survey questions New
builds
Renovators Replacements What does it mean for BBQfun
Have visited
BBQfun in
previous month
70% 70% 50%
BBQfun should communicate with
these customers.
Have bought a
BBQfun product
in previous
month
70% 65% 50%
1. The retail chain should introduce
new products to attract customers
which it lost to the competitors.
2. The retail should provide
replacement offers to customers who
have bought products in the previous
months subject to terms and
conditions.
Customer service
is essential
90% 95% 60%
1. The retail chain should train its
employees to provide customer
services to customers.
2. The company should
communicate with who have
escalated and try to negotiate with
them.
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Price is most
important
10% 20% 95%
Offering discounts
Australian made
is important
80% 65% 55%
Offer with Australian origin
products
Will buy online 100% 100% 100%
1. Offer more products on
ecommerce platforms
2. Offer discounts on ecommerce
purchase.
Will pay for
online delivery
if chosen
100% 100% 100%
1. Offer more products on
ecommerce platforms
2. Offer discounts on ecommerce
purchase.
Loyalty
customer
30% 20% 10% 1. Offer more products on
ecommerce platforms
2. Offer special discounts on
ecommerce purchase.
3. Offer loyalty cash back on making
online payments.
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d. legal and ethical requirements
Types of
legislation
What it is about: How does it impact BBQfun
Competition and Consumer Act 2010
The act seeks to protect the
interests of consumers by
ensuring that the business
organizations marketing goods
and service conduct in
appropriate so as not to cheat the
customers (Legislation.gov.au.
2019)
The retail chain should comply with
the act and ensure that it does not
charge illegitimate prices for
products.
Australian e-commerce model The Australian e-commerce
model seeks to build a strong
ecommerce network which would
enable the customers view and
order goods on the online portals
(Archive.treasury.gov.au. 2019)
BBQfun should strengthen its
ecommerce portals and operate them
following the model.
Australian Direct Marketing
Association - Direct Marketing
Code of Practice
The codes of practice seek to
establish common standards for
marketing of products in
Australia
The company should comply with the
codes of practice and incorporate
them in its core strategies.
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e. market share
BBQfun’s comparative market information is largely determined by independent
competition where they focuses on locally produced products and they have a collective
market share of 48%. In 2009, the national outdoor lifestyle market reached $300 million.
Outdoor lifestyle sales were estimated to grow by at least 6% for the next few years. This
growth can be attributed to several different factors:
Factors What does it mean for BBQfun
The greater disposable household
income from two income families
The company should market more premium
and superior quality products.
The greater availability of affordable and
interesting quality imports with the high
value of the Australian dollar
The company should market products of
both Australia and foreign origin.
The marketing by popular TV lifestyle
programmes.
The company should sponsor TV lifestyle
shows.
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f. Market trends and developments
Factors What does it mean for BBQfun
Item quality – the preference for high
quality items is increasing as
customers are learning to appreciate
the quality differences.
The company should produce items with
superior quality which would enable the
customers to differentiate them from
competitor products.
Unique – our patrons appreciate the
opportunity to include outdoor
lifestyles in their home that stand out
from the mass-produced and low-
quality items.
The company should market more
innovative and superior quality products.
Selection – people are demanding a
larger selection of choices; they are no
longer accepting a limited offer in
outdoor lifestyles.
The company should provide more variants
of products to ensure higher levels of
customer satisfaction.
g. new and emerging markets
Factors What does it mean for BBQfun
A growing market in a high growth area
with a significant percentage of the
target market still not aware of BBQfun
value proposition.
The company should market its products in
new markets which would enable it get
access to new consumer base.
Increasing sales opportunities outside
of our store locations – south east
Queensland.
The company should open stores in South
east Queensland.
Growing opportunity for online sales.
Make more products available online.
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h. profitability
Factors What does it mean for BBQfun
Economy - the real estate market in south east
Queensland continues to rise in price, and
with it the disposable income of the
population.
Provide more superior quality
products.
Political - the present Government focus and
emphasis in future legislative direction will be
about growth and productivity
Comply with the legislations.
i. sales figures (forecast)
2014 2015 2016 How does it impact BBQfun
Total sales
$11,000,000
$12,000,00
0
$15,000,000
Increase in revenue generation and
ROI which the company can give to
its retailers.
Gross profit
$5,110,000 $6,500,000 $7,500,000
Increase in revenue generation and
ROI which the company can give to
its retailers.
Task 2
Complete the following activities individually.
1. Return on investment is the ratio of money of an investment relative to the amount of money
invested. Provide a brief discussion on:
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a. Average rate of
return
Average rate of return is the minimum amount of return which has to be
achieved on investment in order to execute a project.
b. Payback period
Payback period refers to the period which is required to get the amount
invested back.
c. Net present
value
Net present value is the difference between the present value of the inflows
of cash and the present value of outflow of cash.
d. Profitability
index
The profitability index is the ratio between the revenue which would be
generated against a particular amount invested.
2. Provide a brief discussions on what are the considerations for an investment appraisal of new
opportunities:
a. Financial
resources
It should be considered that the investments which the companies would
undertake should generate positive returns on investments.
b. The purchase of
equipment or
machines
The equipment purchase should utilize minimum amount of fuel but
produce higher amount of productivity.
c. Buildings
The buildings should utilize less energy. The buildings must be managed in
environment friendly ways. For example, they should have water recycling
systems installed in them which would enable recycling of water. The
buildings can also be fitted with solar panels which would enable
generation of solar energy. This would enable lowering the use of
electricity sourced from coal and/or petrol.
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d. Other assets for
the develop of
new products
The company should develop assets which would boost its productivity.
The assets like plants to manufacture products should be energy efficient
and utilize less energy.
3. Discuss the various key investment considerations when deciding on new opportunities:
a. Scale of the
investment
The company should make decisions of the scale of investments in terms of
the market in which it wants to invest and the amount it would invest. The
management of the company while deciding on the scale of investments
should consider the risks which it might face which would impact the ROI
negatively.
b. Length of time
before
investment yield
returns
The company should calculate the time for which it wants to invest so as to
earn high ROI. The business should invest in assets which would enable it
to generate positive ROI through a longer span of time.
c. Length of time to
pay back the
investment
The company should decide on the length of time for which it should
invest. The company should take into account the fact that short term
investments giving higher rates of returns may be risky. This means that the
company should select an appropriate payback time which enable it to
diversify the risks and losses.
d. Expected profits
from the
investments
The company should expect super normal profits from investments. The
company should consider several types of securities like shares, debentures
and bonds. Bonds are less risky compared to shares but give lower returns
compared to the latter. This means that the company should invest portfolio
combining all these assets so as to diversify the risks and generate higher
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ROI.
e. Alternative
investment be
better used
elsewhere
The company instead of investing in one asset should diversify its
investments over a wide range of assets. This would ensure diversification
of the risks of investments.
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4. New products and services have a direct effect on revenue generation which is the key reason
for a business being able to stay competitive and enabling it to reach its goal of continually
making a profit. It is therefore imperative that written plans keep the business and new product
on track. Discuss the reasons for identifying and documenting changes needed to current
operations to take advantage of viable marketing opportunities.
a. Identify what is
to be achieved
Higher revenue, lower expenses, lower amount of waste generated and
higher levels of sustainability.
b. SMART goals
The objectives should be measurable on the SMART grounds. This means
that the objectives should be specific, measurable, attainable, relevant and
time bound. If any goal does not qualify the SMART criteria, the goal
should not be pursued.
c. Timeframes
The companies should decide on the time frames within which they aim to
generate the invested amount and profits. The time frames should be set for
both revenue generation as well as generation of returns of investments.
d. Types of
resources
required
Human resources, financial resources, technology, knowledge, IPR
e. Risk analysis of
resource
requirements
Attached
f. Stakeholder
communication
strategy
The stakeholder communication strategy should take into account the
stakeholders concerned. For example, the company should use the strategy
of promotion to communicate with customers. When it comes to investors,
the appropriate strategy would be press releases. The appropriate
communication strategy to communicate with external stakeholders would
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be meetings and emails.
g. Revised
marketing plan
To be formed on the basis of the discussion with stakeholders. The
company should consult the important stakeholders like customers,
investors and employees.
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5. Ensure organizational changes to service an increased or different customer base including
provision for continued quality of service to existing customers. Discuss the possible issues that
may cause customer service to suffer:
a. Operational
disruption
Efficient operational management should be achieved as the outcome of the
changes. The company should gain participation of the employees to ensure
their participation in the operations post changes.
b. Customer
inconvenience
Superior customer services should be provided
c. Staff training to
support services
lacking
Training of staff
d. Incomplete
infrastructure to
support new
product/
services
The management of the company should either dismantle the incomplete
infrastructure or restructure them.
e. New product/
services
information
incomplete/ not
sent
The company should conduct open innovation to introduce new products.
f. Equipment/
facility not
working properly
Installation of new facilities. The facilities should be energy efficient.
g. Inaccurate
marketing
resources
Acquisition of new marketing resources which would be aligned to the
business requirements.
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6. Building on your answers to Assessment Week 1, your task now is to briefly draft out the newly
identified marketing opportunities and required additional information to the company’s
marketing plan.
a. Summary
b. Market analysis
SWOT
analysis
The company should conduct a SWOT analysis of itself to recognize its
strengths and weaknesses.
PEST
analysis
PEST analysis of Australia would be conducted to recognize the present
and future trends in the market. This would lead of recognition of the
business opportunities and threats which would be considered while
making the business strategies.
d. Market segmentation
New
market
The company should recognize the appropriate market segments which can
be catered with the products. This would lead to generation of more
revenue.
New
business
idea
The company should recognize the appropriate market segments which can
be catered with the products. This would lead to generation of more
revenue.
f. New market
objectives
The company should recognize the appropriate new markets which can be
catered with the products. This would lead to generation of more revenue.
g. Marketing strategies
Product
New
market
The company should recognize the appropriate new markets which can be
catered with the products. This would lead to generation of more revenue.
New
business
The company should recognize the appropriate new markets which can be
catered with the new business ideas. This would lead to generation of more
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idea revenue.
Price
New
market
The company should recognize the appropriate new markets which can be
catered with the products by modifying the prices appropriately. This
would lead to generation of more revenue.
New
business
idea
The company should recognize the appropriate new markets which can be
catered with the products by modifying the prices of appropriately. This
would lead to generation of more revenue.
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Promotion
New
market
The company should recognize the appropriate new markets which can
be catered with the products by appropriately modifying the
promotional mix. This would lead to generation of more revenue.
New
business
idea
The company should recognize the appropriate new markets which can
be catered with the products by appropriately modifying the
promotional mix. This would lead to generation of more revenue.
Place
New
market
The company should recognize the appropriate new markets which can
be catered with the products by appropriately modifying the place
strategy. This would lead to generation of more revenue.
New
business
idea
The company should recognize the appropriate new markets which can
be catered with the products by appropriately modifying the place
strategy. This would lead to generation of more revenue.
l. Budget
The management should recognize the budgets to cater to each market
by taking into account the market conditions of concerned markets.
m. Risk assessment The management should also recognize the risks present in each market.
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Assessment Submission Checklist to be completed by the Trainer/Assessor
Unit name: BSBMKG501 Identify and evaluate marketing opportunities
Assessment: Task 1
Did the student complete and provide evidence for the following (please  ): Yes No
1. Provide and present a market development proposal?
2. Provide an analysis for a given case study?
3. Submit within agreed timeframe?
During the demonstration or observation of skills/ meeting the
performance criteria, did the candidate do the following (please  ): Yes No Assessor’s Notes (if any)
1.1. Analyse information on market and business needs to identify
marketing opportunities
1.2. Research potential new markets and assess opportunities to
enter, shape or influence the market in terms of likely
contribution to the business
1.3. Explore entrepreneurial, innovative approaches and creative
ideas for their potential business application, and develop into
potential marketing opportunities
2.1. Identify and analyse opportunities in terms of their likely fit with
organisational goals and capabilities
2.2. Evaluate each opportunity to determine its impact on current
business and customer base
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2.3. Use an assessment of external factors, costs, benefits, risks
and opportunities to determine the financial viability of each
marketing opportunity
2.4. Determine probable return on investment and potential
competitors
2.5 Describe and rank marketing opportunities on their viability,
and likely contribution to the business
3.4. Determine and communicate viability of making changes to
current operations to key stakeholders
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Feedback and result outcome for Task 1 (please
 )
Satisfactory
Not Yet Satisfactory
Re-assessment required
Unit name: BSBMKG501 Identify and evaluate marketing opportunities
Assessment: Task 2
Did the student complete and provide evidence for the following (please  ): Yes No
1. Answered all questions sufficiently?
2. Provide a brief draft for the newly identified marketing opportunities and required
additional information to for a given case study?
3. Submit within agreed timeframe?
Has the learner proven they can (please  ): Yes No
2.3. Use an assessment of external factors, costs, benefits, risks and opportunities to determine the
financial viability of each marketing opportunity
2.4. Determine probable return on investment and potential competitors
3.1. Identify and document changes needed to current operations to take advantage of viable
marketing opportunities
3.2. Ensure organisational changes to service an increased or different customer base include
provision for continued quality of service to existing customers
3.3. Estimate resource requirements for changed operations
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3.5. Document newly identified marketing opportunities and required changes
Feedback and result outcome for Task 2 (please
 )
Satisfactory
Not Yet Satisfactory
Re-assessment required
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Assessment Summary Result (please
 )
Task 1 Observation & demonstration S
NY
S
DN
S
Task 2 Short questions S
NY
S
DN
S
Final Assessment Result for this unit C
NY
C
Feedback is given to the student on each Assessment task
YE
S
NO
Feedback is given to the student on final outcome of the unit
YE
S
NO
The result of my performance in this unit has been discussed and explained to me (please place signature below)
Student Signature
Date
Trainer/ Assessor’s declaration: I hereby certify that the above student has been assessed by myself and all assessments are carried
out as required by the Principles of Assessments (Clause 1.8 of the Standards for RTO 2015).
Trainer/ Assessor’s Initials
Date
Appeal Process (only for mitigating circumstances)
I would like to appeal the outcome of this assessment as per the appeals procedure in the Student Handbook
Student Signature Date
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