Establish and Adjust Marketing Mix BSBMKG502
Added on 2020-07-22
31 Pages9017 Words158 Views
Professional DevelopmentHigher Education
|
|
|
AssessmentToolBSBMKG502Establish and Adjust Marketing MixJuly 2016
Contents3.Assessment Information..................................................................................................................................................................34.Pre-assessment Checklist.................................................................................................................................................................65.Assessment Submission Sheet.........................................................................................................................................................76.Assessment Event 1 – Short Answer Questions.............................................................................................................................87.Question 1.........................................................................................................................................................................................88.Question 2.........................................................................................................................................................................................89.Question 3.........................................................................................................................................................................................810.Assessment Event 2 – MyRTO Simulation..................................................................................................................................911.Task 1: Evaluate Each Component of Marketing Mix...............................................................................................................912.1.2 Review pricing policy and analyse pricing variables to determine their effect on demand............................................1013.1.3 Analyse promotional methods to determine their importance to marketing outcomes..................................................1114.1.4 Review channels of distribution and estimate their significance to marketing outcomes...............................................1115.1.5 Identify and analyse level of customer service provision to determine its significance to marketing outcomes...........1116.1.6 Identify potential customer base and key pressure points.................................................................................................1217.1.7 Analyse and test the effect of the components of marketing mix......................................................................................1218.Task 2: Determine Marketing Mix for Specific Markets.........................................................................................................1419.2.1 Identify and assess environmental factors, and their impact on marketing mix.............................................................1420.2.2 Identify consumer priorities, needs and preferences affecting marketing mix................................................................1421.2.3 Evaluate marketing mix variables against objectives, target market and positioning....................................................1522.2.4 Select marketing mix that best satisfies target market and meets marketing objectives................................................1523.2.5 Seek approval to the marketing mix decision......................................................................................................................1524.Task 3: Monitor and Adjust the Marketing Mix......................................................................................................................1725.3.1 Monitor marketing mix against marketing performance and isolate components for testing.......................................1726.3.2 Evaluate implications of altering components of marketing mix......................................................................................1827.3.3 Adjust components of marketing mix in response to test results and market-response evaluation..............................1828.3.4 Ensure adjusted marketing mix meets budgetary requirements......................................................................................2029.3.5 Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning.....................................................................................................................................................................2030.Task Outcome Sheets...................................................................................................................................................................2231.Assessment Event 1......................................................................................................................................................................2232.Assessment Event 2 - Simulation................................................................................................................................................2333.Student Feedback Form..............................................................................................................................................................241.2.
3.Assessment InformationWelcome to your Student Assessment Workbook for BSBMKG502 Establish and Adjust the MarketingMix.This Student Assessment Workbook is where you will write all your answers for the knowledge questionsand simulation tasks. Please refer to the Student Assessment Guide for more information.This assessment has the following two events:Assessment Event 1 – Short Answer QuestionsThere are three questions that will provide us with evidence on your general knowledge of principles andconcepts of marketing, elements of marketing mix and statistical techniques used in market intelligence.This assessment is completed in your own time and by a submission date provided by your assessor. Youmay use support material in the development of your answers, but you must indicate the source. Inaddition, you must not cut and paste answers from your source, rather, use your own words, unless it is adirect quote.Assessment Event 2 – Simulation: MyRTOYou will complete a number of tasks in evaluating, developing, monitoring and adjusting a marketing mixfor a Registered Training Organisation (RTO), MyRTO. These tasks will be based on your role as aMarketing Officer in a simulation for MyRTO, an Australian RTO that provides a blend of accredited andnon-accredited training. To complete the simulation, you will need to refer to the following resources:Strategic Marketing PlanThis document provides detailed information on MyRTO’s strategic initiatives.It includes critical information about the current marketing mix, desiredpositioning, external landscape, budget, etc. You will use this documentthroughout the simulation to analyse the current market environment anddetermine the most suitable marketing mix to ensure MyRTO’s organisationalgoals are achieved.Budget TemplateThis document is a template provided in the format of an Excel spreadsheet.You will use this spreadsheet template in Tasks 2 and 3 to calculate the budgetrequired to successfully execute the marketing mix.Market Response DataThis data provides insight about the success of the marketing mix. You willuse this data in Task 3 when evaluating the components of the marketing mixin relation to market factors and consumer response. Marketing Policy and ProceduresPolicies and procedures to ensure marketing practices are conducted ethicallyand lawfully. You will need to refer this when establishing the marketing mix.Please note that your responses for both assessments can (where appropriate) use dot point format. Seebelow of an example of a dot point answers and a full sentence:Dot point formatPresentation Plan includes the following:outcomesneeds of the audiencecontext.Full sentence formatWhen you are preparing for a presentation, there a number of tasks that must becarried out. These are listing the outcomes that you want to achieve, followed bythe identification of the needs of your audience. When you have completed thesetwo tasks you then check on the room that you will be conducting thepresentation.
Note that to be deemed competent for this unit, you must achieve a satisfactory outcome for all of theassessment questions and tasks. This includes meeting the following conditions:you must complete all of the tasks outlined in this Student Assessment Guide document to the standardindicated in the Performance Requirements; these are listed under each of the tasks you will then submit your completed workbook to your assessor electronically (note, your assessor mayallow you to submit Assessment Event 1 and receive feedback before starting Assessment Event 2)you must perform the above two points within the given timeframes by your Assessoryou must complete both assessment events and submit by the deadline specified by your Assessoryour work must be your own work and in your own wordswhere you use to an external source, you must provide citation.
4.Pre-assessment ChecklistYour assessor will go through the assessment for this unit, BSBMKG502 Establish and Adjust theMarketing Mix. It is important that you understand this assessment before taking on the tasks. To confirmthat you have been given this overview, we ask you to complete the following Pre-Assessment Checklist.You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm yourunderstanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason underthe ‘Comments’ section.When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that yourTrainer/Assessor has discussed all of the information with you prior to undertaking this assessment. ChecklistY NI, the student, understand the purpose of the assessment.Y NI understandwhen and where the assessment will occur, who will assess me, how and in what format the assessment will be submitted.Y NI understand the methods of assessment.Y NI understand what resources are required to successfully complete this assessment.Y NI understand the performance level required for each assessment event.Y NI understand that it must be my own work. I have been explained and understood the serious consequences in case this work is found plagiarised.Y NI understand the process if I am deemed not yet competent.Y NI understand the feedback process and the appeals process.Y NThe assessor has discussed with me if I have any special needs and if so what arrangements have been put in place.
5.Assessment Submission SheetStudent Feedback onAssessment:Wouldyou like to make anycomments about thisassessment?AssessmentReceipt
6.Assessment Event 1 – Short Answer QuestionsThe information contained in this assessment event lists the questions that you will need to develop a writtenresponse. These questions are theoretical and provide evidence of your understanding of principles andconcepts of marketing, elements of marketing mix and statistical techniques used in market intelligence. 1.Question 1Describe each of the five principles of consumer behaviour, and for each one, provide an example of how itinfluences buying behaviour.Write your response into the table: Principles of consumer behaviourExplanation of principleExamples of buyer behaviourCulturalThe Cultural principle ofconsumer behaviour states thatthe culture influence thebehaviour of every consumer,people from different culturehave different needs andpreferences. For example – People from Asiahave different clothing and eatingculture which makes their buyingbehaviour different from that of thepeople in United Kingdom. SocialThe social principle states thatpeople from various societyhave different purchasingpreferences as social valueshighly influence their choice ofproducts and services. For example – The society consistof certain values and beliefs whichhave a great impact on the buyerbehaviour. If the society is againsta product, the buyer will avoidbuying it. PersonalPersonal principle also highlyinfluence the consumerbehaviour, each and everyindividual have their ownchoices and preferences. Theconsumer's personal choicehighly influence theirbehaviour with respect todifferent products and services.For example if a person likes towear Nike shoes he or she willalways prefer to buy shoes form thesame brand rather than choosingany other brand. PsychologicalThe Psychological principlemeans that the consumerbehaviour also depends uponthe psychology of the people.This psychology develops fromvarious elements or thinking ofa person.For example If an individual have afear of something he or she willstay away from everything relatedto it. This describes that a person'spsychology highly affect thebuying behaviour of the customers.SituationalSituational principle ofconsumer behaviour isuncertain conditions orsituations which affect theconsumer behaviour. Thesituations or conditions affectthe consumer behaviour suchas buying or not buying aproduct or service. For example – If a person lost hismobile phone he will be influencedby the situation to buy or purchasea new phone. This is the situationalprinciple that affects the purchasingbehaviour of the costumers.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
BSBMKG502 Establish and Adjust the Marketing Mix Assessment Workbooklg...
|27
|6421
|280
Establish and adjust the marketing mixlg...
|6
|1484
|101
BSBMKG502 Establish and adjust the marketing mixlg...
|9
|3108
|390
BSBMKG502 Establish and adjust the marketing mixlg...
|9
|1900
|189
Developing an Integrated Marketing Communication Plan for FitLifelg...
|29
|5990
|23
FNSACC504 - Prepare financial reports for corporate entitieslg...
|38
|8133
|200