Evaluating Market Opportunities

Running head: EVALUATING MARKET OPPORTUNITIES
Evaluating market opportunities
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1EVALUATING MARKET OPPORTUNITIES
Assignment 1
Question: 1
The major regulation that applies in the marketing industry of Australia is the Australian
Consumer Law. It covers the welfare of the end customers and protects the consumers from the
unfair trading practices. In addition, the Australian Consumer Law also deals with the
relationship between the different stakeholders in the marketing process such as wholesalers,
retailers and customers. The next regulation is the Federal Privacy Act. This covers the provision
for protection of the customer privacy and confidentiality. It also bounds the marketers to take
the permission from the customers prior to using their private information. The next regulation is
the Spam Act 2003. This covers the protection and immunity of the customers from the spam
communication of the marketers (Wardle et al. 2014). It also forbids the marketers from sending
spam messages to the customers. Under this act, spamming is made civil offence. The
advertising standards regulation should also be considered by the marketers in designing their
advertising content. Thus, the marketers should have to follow a certain factors and elements in
making their advertisements. The last regulation is the Do Not Call registrar regulation for the
telemarketers. This entitles the marketers to not call the customers who have their names in the
Do Not Call registrar or they will be imposed a penalty.
Question: 2
Australian Marketing Institute Code of Professional Conduct is important for the
marketers because it provides certain standards that should be followed by the marketers in
maintaining their ethical business approaches. One of the major importances is to maintain the
public interest and respect. In the recent time, there are number of accusations being made

2EVALUATING MARKET OPPORTUNITIES
against the marketers in duping the customers and for communicating information harmful in
public interest. Thus, with Australian Marketing Institute Code of Professional Conduct in place,
the marketers are entitled to maintain the public interest or they will be prosecuted and fined for
the same. Furthermore, the Australian Marketing Institute Code of Professional Conduct also
states the marketers should avoid being in any illegal activities or promoting the companies
indulged in the illegal activities. Thus, it is important for the marketers to ensure that they are not
associated with any illegal activities.
Question: 3
One aspect of the Australian Marketing Institute Code of Professional Conduct code is
related to the identification of the marketing opportunities, which is the prevention of misleading
claims and misrepresentation of any factors. This is related with the enhancement of the
marketing opportunities due to the reason that misleading claims and misrepresentation of the
facts can be effective in catering to the new customers segments for the short term. However, this
will pose challenges for the marketers in the long term because misleading claims will get
detected and will affect the goodwill and brand value. In addition, detection of the misleading
claims will also attract lawsuits. Hence, the process and strategy of identifying more marketing
opportunities will get diluted and affected. In this case, following this code of Australian
Marketing Institute Code of Professional Conduct will be beneficial for the marketers to prevent
these issues in the long term and ensure the sustainable growth of marketing opportunities.
Question: 4
Market penetration refers to the process of developing newer variants of the existing
products for the existing markets, which helps in further penetrating and covering the untapped