Identify and Evaluate Marketing Opportunities

This study focuses on identifying and evaluating essential marketing opportunities for Coffeeville. It explores creative and innovative ideas, conducts research on potential competitors, and develops a marketing plan. The study also discusses the importance of abiding by regulations and laws in the marketing industry. It outlines the four phases of the product life cycle and the components of the marketing mix. Statistical methods and forecasting techniques for evaluating marketing opportunities are also described.

RUNNING HEAD: Identify and Evaluate Marketing Opportunities
Lakhwinder – excellent attempt but you have not answered the
questions being asked. I have highlighted these for you and provide
some direction
Task 2 – you need to introduce Coffeeville and separately answer
each part clearly identify each part you are answering
Stop referencing your work – just refer back to your textbook (Cole
6e)
Identify and Evaluate Marketing Opportunities

Identify and Evaluate Marketing Opportunities
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Executive Summary
In the current study, essential factors in aspects of marketing and its opportunities that can be
identified by an organization in order to achieve success have been exhibited. Furthermore, it has
also been demystified about three specific marketing opportunities for Coffeeville and based on
the same, the marketing plan has been developed. Planned meeting agenda has been prepared
and discussed with team members. Feedback and perspectives have been represented to the
Managing Director and relevant decisions have been made accordingly.

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Table of Contents
Introduction......................................................................................................................................2
Assessment Task 1: Written questions............................................................................................2
Question 1........................................................................................................................................2
Question 2........................................................................................................................................3
Question 3........................................................................................................................................3
Question 4........................................................................................................................................4
Question 5........................................................................................................................................5
Question 6........................................................................................................................................6
Question 7........................................................................................................................................7
Question 8........................................................................................................................................7
Question 9........................................................................................................................................8
Question 10......................................................................................................................................8
Assessment Task 2: Identify and investigate marketing opportunities project...............................9
1. Explore creative and innovative ideas and conduct research relevant to the business’ products
and/or services, potential new and emerging market competitors and any other factors you deem
relevant, to prepare a list of three (3) potential marketing opportunities........................................9
2. Based on your review of the marketing plan and research, identify three (3) potential
marketing opportunities for the company. Investigate these opportunities in detail with the
intention of developing a report and suggesting an order of priority based clearly on their
viability and contribution to the business......................................................................................10
3. Based on the report, provide an overview of the company, their business objectives and
marketing plan and ensure your report is professional presented and error free...........................11
4. Submit your list of three (3) original potential marketing opportunities and your Report in an
email to the Managing Director. Make sure to write your email professionally to the Managing
Director and request the MD’s feedback.......................................................................................12

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Conclusion.....................................................................................................................................13
References......................................................................................................................................14

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Introduction
Identifying marketing opportunities enables organizations to plan and design effective and
suitable strategies. It also helps to enhance the corporate image in the relevant market, by
offering most demanding products and services. The study focuses on identifying and
evaluating essential marketing opportunities. In order to gain informative data and findings for
the topic, assistance from a coffee company named, Coffeeville has been considered. All the
essential facts based on marketing planning and marketing opportunities have been investigated.
To provide strong findings for the topic, relevant statistics and figures have been exhibited that
will enable the company to evaluate essential marketing opportunities that are necessary for an
organization to gain success.
Assessment Task 1: Written questions
Question 1
Identify and concisely outline five (5) items of regulations and laws that apply to the
marketing industry in Australia
The government and legislative of Australia have established their own national laws in order to
protect the values of customers and to promote fair trading in the market. Some of the lists of
regulations highly mandated to be conducted during marketing activities are discussed below:
● Competition laws
The statutory framework of Australia accentuates fair trading for consumers and businesses and
is enforced by the Australian Competition and Consumer Commission (ACCC).
● Consumer law
Consumer Protection Act is governed that ensures to protect consumers from unfair marketing
practices. The respective act encompasses product safety laws, consumer right guarantees,
unsolicited consumer agreements and penalties to unfair marketing practices
● Product liability regulation

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The Australian government to regulate informative standards of business and product safety for
consumers has established a separate statutory framework.
● Environmental legislation
The Australian Government has formulated specific laws and regulations in order to administer
environmental protection from marketing activities, especially for specific businesses.
● Privacy laws
Separate privacy law under the Office of the Australian Information Commissioner (OAIC) has
been regulated that accentuates legal methods that can be adapted by business owners in to
collect, store and access personal information.
Question 2
Briefly outline the importance for marketers to abide by the provisions of the Australian
Marketing Institute Code of Professional Conduct
Australian Marketing Institute (AMI) is a professional and governing body for the marketing
practitioners in Australia. The main objective of AMI is to identify a certain code of Professional
Conduct and create boundaries for marketing practices and theory that would lead to fuel
Marketer careers. The code of professional conduct encompasses accountability, collaboration,
professional standards and learning that are essential for the growth of the business of the
dynamic marketing profession.
Question 3
Describe one (1) aspect of this Code that is important in relation to identifying marketing
opportunities

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The act with integrity or not giving false information substantiates the practice of being honest
and show consistency towards customers. Through this act, Coffeeville would be able to
generate more loyal and potential customers ensuring that they are not trapped into falsification.
The standards of integrity would be effective for resolving conflicts apparently. This also
includes upholding the quality standards of the services as well. Implementation of such a code
of conduct would eventually lead to the stimulated figure of sales and the lessened threat of
substitution.
Question 4
Briefly describe each of the following terms as they relate to increasing marketing
opportunities:
Figure 1: Terms related to market opportunities
(Sources: Biroscak et al., 2019)
● Market Penetration
Increase sales through promotions: Market Penetration can help Coffeeville in the context of
selling their products and services in particular market by overall estimation of the market by
analyzing the needs the customers and the position of the competitors in the market. The
strategy that can be incorporate by the concerned company is can be by using promotional

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campaigns so that the sales and profit margin can be enhanced and they can gain a substantial
share in the market with their strategies of penetration.
● Market Development
Ie/ selling products into new markets: Market Development is the strategy that can help to
identify and design the new market segments for recent products. The strategy can be for the
non-buyers in the target segment of the market. This can be implemented by the Coffeeville by
selling the products in the new markets with the help of innovative methods and promotions.
● Product Development
Offer new products where customers are unfamiliar: In order to develop the products and
services, the concerned organization can offer a new range of products for the customers who are
non-buyers and expand their business in the market where they have trying to penetrate with the
help of various strategies.
● Diversification
Offer different products: This can be considered as a significant aspect as offering a range of
products to the customers can help to enhance their experience and improve the customer base in
a significant manner for the respective company.
Question 5
Identify and outline each of the four (4) phases of the product life cycle
Four phases of the product life cycle and are discussed below.
● Introduction stage
This stage of the product is relatively expensive, as the established products are required to
promote in the potential market In the case of Coffeeville, cost incurred in consumer testing,
research and development on the demands of markets require large amounts of investment
especially when the market is competitive.
● Growth stage
The strong sales of the company can be determined under the stage of growth as the company
starts to gain huge income from its economic scale of production and brand name in the market.
● Maturity stage

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After building a stable image of the products offered by Coffeeville to its customers, the next
level falls under maintaining the market shares Under this stage, the company is suggested to
invest wisely in promotions as it is the most competitive time.
● Decline Stage
This is the stage when the market of the product starts shrinking, declining stage arouses
However, coffee is a product that is always in demand in order to stay active and focused. Hence,
the marketing strategy make adapted by Coffeeville enables to mitigate of this stage of the
product life cycle.
Question 6
Identify each of the four (4) components of the Marketing Mix and briefly and explain
what each component means. Give one or more examples of each component
The strategy of the marketing mix will enable to create customer values and awareness in
Coffeeville while identifying arising marketing opportunities in order to build customer referrals
and loyalty.
Product
Coffeeville is engaged in offering rich and fine coffee beans, daily fresh cakes and pastries and
gourmet foods to its customers. In order to trigger success in the changing market environment,
it is essential to maintain the highest possible quality of the products. Consider packaging in
addition to the quality.
Price
The menu price list of Coffeeville is higher than the price list of its competitors in the market.
However, it is due to the quality and standard that are mandatorily maintained. Interestingly, the
pricing strategy also intends to raise the sales and revenues of the company in the market. Maybe
consider loyalty discounts.
Place
Clientele segmentation is the strategy adopted by Coffeeville which enables the company to gain
70% of its business opportunities in changing the market. The company has also launched its
takeaway service facility for those who struggle between the traffic and skip their meals. This

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strategy of takeaway services increased the brand name of the company while gaining a
competitive market.
Promotion
Advertisement through reviews and encouraging articles are an effective promotional strategy
adopted by the company in order to spread their core messages to potential customers. To gain a
large business market, online presentation and social networking are the additional steps
undertaken by the company in the changing marketing environment.
Question 7
Identify the four (4) steps in the marketing process and provide a brief explanation of each
step
Consider – analysis of the marketing opportunities
This can be said as the most vital aspect of the marketing process as determine the demands of
the consumers and the position of the competitors along with various factors that can impact the
business operations needs to be done in a proper manner.
Identify the target market
The target market like the younger generation (20-60 years of people) who are the most frequent
market-goers can be said to be the target market of Coffeeville. The products and services need
to be developed by considered this group of people as a targeted market.
Develop the marketing mix – 4 Ps
This can help to determine the place, promotion, products, and people who are associated with
the marketing plan and can be considered to be one of the most vital parts of the marketing
process which needs to be considered by Coffeeville
Management of the planning and implementation
The final and crucial aspect of the marketing process is managing and monitoring the strategies
that are planned and needs to be incorporated for proper marketing of the products and services
of the concerned organization in an effective and efficient manner.

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Question 8
Describe four (4) statistical methods and/or forecasting techniques that can be used to
evaluate marketing opportunities.
Four forecasting methods/techniques that can be implemented in order to evaluate marketing
opportunities are as follows:
Delphi method- Under this method the group of experts of marketing is considered for a series of
a questionnaire and their responses are recorded then the analyses if the responses can be
performed to forecast the market.
Causal method- It helps to assume that the variables that are dependable along with other
variables called explanatory variables can be linked together to predict the behavior of the
market in the future.
Market research- The market research can be performed with the help of various statistics which
can further help to determine the pattern and behavior of the industry for proper evaluation of the
marketing opportunities.
Time series forecasting- There are various types of techniques that can fall under this category
but the concerned organization needs to select the proper approach and help to evaluate the
opportunities of any particular market.
Question 9
Briefly describe one (1) method for forecasting market growth rate.
Time series forecasting technique is an effective method for forecasting market growth rate that
enables marketers to observe essential patterns in sales and revenues.
Question 10
Define the term ‘return on investment’ and outline how it is calculated.
Return on investment is a ratio of loss or profit that is made in the fiscal year that is expressed in
terms of investment.
Figure 2: Formula to calculate return on investment

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(Source: Srivastava, 2018)

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Assessment Task 2: Identify and investigate marketing opportunities project
1. Explore creative and innovative ideas and conduct research relevant to the business’
products and/or services, potential new and emerging market competitors and any other
factors you deem relevant, to prepare a list of three (3) potential marketing opportunities
Coffeeville is a certified and fair coffee trader that strives for locally course organic ingredients
and products. The company is focused on providing absolute and highest standards of quality
products to its customers. The company is also concerned about providing entertainment to its
customers and also ensuring their ease. The ambiance of the coffee house with the aromatic scent
and scheduled art shows have attained the attention of the customers.
Marketing Plan
Objectives and goals Strategies Planning
Increase brand recognition in
their area.
Initially adopting strategies
for conducting surveys to
understand the preferences of
customers regarding the kind
of restraints they prefer.
Through this, the company
will be able to achieve
increased revenue.
Planning for online surveys,
organizing for targeted
marketing campaigns.
To position itself as a
provider of superior coffee
experience to its customers
and be the supplier of
gourmet food in its area and
surroundings.
For this, Coffeeville has to
ensure about deploying
trained and well-skilled
employees to maintain
superior product quality and
uphold the quality standards
It is necessary to plan
accordingly by considering
ethical and environmental
responsibility, recruiting and
selecting highly trained and

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of the products. skilled staff.
To control direct and indirect
operational costs.
The company must devise
strategies to ensure the flow
of supply chain management
in bulk purchasing.
Recruiting operations
manager for handling the
operations tactfully.
Table 1: Marketing Plan
Creative and innovative ideas for a company like Coffeeville would help in enhancing their
products and services, emerge into a competitive market and gain potential customers. Based
on the above-prepared marketing plan, it has been stated about the major objectives that the
company is planning to establish with the help of appropriate strategies with planning. Brand
name and quality products and services are enough to catch the attention of the customers.
Innovations like customizable interior walls, play area, art gallery could attract customers more.
Under laid are the different market opportunities through which the company would be able to
conduct its marketing research on a wider basis:
● Multiplying the number of targeted customers by the penetration rate of the market
● Identification of sources of customer activities and monitor them accordingly
● Key performance indicators like Lifetime Value of a Customer (LTV) and Cost of
Customer Acquisition (COCA)
It is necessary for Coffeeville to conduct its business analysis on the basis of the above-
deciphered market opportunities.
2. Based on your review of the marketing plan and research, identify three (3) potential
marketing opportunities for the company. Investigate these opportunities in detail with the
intention of developing a report and suggesting an order of priority based clearly on their
viability and contribution to the business
a) With the prepared marketing plan, Coffeeville is able to establish its objectives and
organizational goals successfully. It has been observed that increasing the number of targeted

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customers as per the penetration rate of the market, identification of customers activities and
KPIs are certain major marketing opportunities that are the goal of Coffeeville.
b) Targeted customers of the company are the people who are between 20 to 60 and who would
love and be delighted by the charisma of the coffee shop.
c) The overall benefit would be accessibility, customer service, competitive and appropriate
pricing, and ethical and environmental business practices would be enhanced.
d) With the identification of marketing opportunities, it has been observed that sales,
profitability, growth, and market share have been blooming. In Coffeeville, the customer trend
for a more sophisticated cafe patron has been observed. The sales graph is also found to be
reaching high with an increasing number of customers.
e) Cost-benefit data (like maintaining the direct and indirect operational costs) would be
effective in the long run of the concerned company. As per statistical tools, it has been observed
that coffee shops like Coffeeville might get the return on investment of 2.5%.
f) The company is unsurpassed by any competitors, coffee and food offerings of Coffeeville are
found to be superior in quality and speed. This reduces the threat of substitution for the company.
Coffeeville is found to be anticipating the focus of the Australian government towards future
legislation regarding the growing economy and skills growth. This would enable the company to
recruit skilled employees to gain more profitability.
g) With the help of technologies like the internet, social media platforms that provide the people
with wide space to put forth their viewpoints and share their feedbacks. However, the concerned
company might not implement a fair work act for supporting the employees and their hard work.
h) This might make the company face a higher rate of employee turnover. It is necessary to
create a contingency plan, where the company is required to state the risk factors that might be
encountered by the company while its operations. Issues like climate change cause issues for
Arabica, labor shortages, and limited ability to value coffee.

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3. Based on the report, provide an overview of the company, their business objectives and
marketing plan and ensure your report is professional presented and error-free
The main objective of the company is to deliver consistent and authentic products to its
customers. The company wants excel in becoming best suppliers of gourmet coffee and food. In
order to execute next marketing opportunity, it is necessary for the company to monitor and
analyze the activities of the customers.
As mentioned above, adoption of technologies, accessibility for customers and ethical and
environmental practices would be helpful for analyzing response of customers towards the
company. These ideas would eventually lead to the succession of next marketing opportunity.
4. Submit your list of three (3) original potential marketing opportunities and your Report
in an email to the Managing Director. Make sure to write your email professionally to the
Managing Director and request the MD’s feedback
The major marketing opportunities have been identified in the above section, based on this,
underlaid is an email professionally written to the Managing Director and also asking for his
feedback:
To: ___________ Cc Bcc
Subject: ____________
To,
The Managing Director
Hi,
This is to bring into your information that I and my team members have initiated for a meeting,
where it has been discussed about the market opportunities that if implemented would be
effective for the company, Coffeeville to expand itself on a further basis and also attract
customers. Based on the agenda of the meeting, I am here to inform you that, your point of
view is required to be there in planning that has been initiated. Henceforth, I am looking
forward to your reply against the proposal initiated by me

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Thanks and Regards
Marketing Head

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Conclusion
From the above study, it has been concluded that it is necessary for every organization to identify
and evaluate different marketing opportunities for the succession of the company. The study has
also unfolded about the necessity of the factors that are responsible for analyzing the significance
of market opportunities for the chosen company, Coffeeville. It has been discussed about the
product life cycle, market penetration, product development and other related factors for a better
understanding of the operations of the company.