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FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business

This is the assessment cover sheet for FNSPRM603 Assessment. The assessment tasks include a Short Answer Activity and a Marketing Plan Project. The assessment must be uploaded in an electronic format and the submission must be the student's own work. AAMC Training may conduct evaluation checks and contact the supervisor for discussion.

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Added on  2023-06-11

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This assessment requires the development of a marketing plan for a finance mortgage broking business to add new clients and increase sales. It includes a target market analysis, competitor analysis, key marketing objectives, financial services/products, promotion, adding new clients, increasing sales, growth implementation, staff requirements, monitoring/measuring objectives, and contingency plans.

FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business

This is the assessment cover sheet for FNSPRM603 Assessment. The assessment tasks include a Short Answer Activity and a Marketing Plan Project. The assessment must be uploaded in an electronic format and the submission must be the student's own work. AAMC Training may conduct evaluation checks and contact the supervisor for discussion.

   Added on 2023-06-11

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FNSPRM603 Assessment
Assessment cover sheet
In order for your assessment to be marked you must complete and upload all tasks
and this cover sheet via the AAMC Training Group portal. Your assessment tasks must
be uploaded in an electronic format i.e. Word, Excel, PDF or Scan. A maximum of five (5)
attachments (maximum 20MB each) can be uploaded for this assessment. Please see the step-
by-step instructions in your Member Area on how to upload assessments.
Student details
Course name
Assessment name FNSPRM603 Assessment
Surname Given name
Address Postcod
e
Email
Phone Phone
(other)
Current occupation
Industry Years in
industry
When you upload your assessment you will be asked to confirm that your assessment submission to
AAMC Training is your own work and NOT the result of plagiarism or excessive collaboration, and that all
material used from any third party has been identified and referenced appropriately. AAMC Training may
conduct independent evaluation checks and contact your supervisor to discuss your assessment.
Checklist of attachments:
Task 1 – Short Answer Activity
Task 2 – Marketing Plan Project
Please indicate style of course undertaken:
Correspondence Online Face to face Trainer’s name:
Once your assessment has been successfully uploaded it will be pending review with your
nominated course assessor. Your assessor will mark your assessment and you will receive an
email advising you if you have been assessed as satisfactory. If you are marked as not yet
satisfactory you will be contacted and asked to provide additional information or re-visit the
assessment and re-upload your amended case study or written tasks.
Please contact our head office if you need assistance with your assessment:
Office: +61 8 9344 4088 Fax: +61 8 9344 4188 Email: info@aamctraining.edu.au
Assessment V2.2 © AAMC Training Group A1
FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business_1
FNSPRM603 Assessment
FNSPRM603 ASSESSMENT TASKS
CREDIT TRANSFER
You may be able to claim credit transfer for a unit/s of competency that you have previously
completed with AAMC Training or another RTO. If you have been awarded a record of result
or statement of attainment for any of the units detailed below then please go to the Credit
Transfer tab in your Learning Centre and follow the prompts.
This assessment relates to the following units of competency:
FNSPRM603 Grow the practice
Please refer to AAMC Training’s full Recognition Policy for further details.
IMPORTANT INSTRUCTIONS
Your answers to each of the tasks are to be typed into this document or supplied
electronically and uploaded.
No assessment word count has been specified although you are expected to provide good
quality answers to each of the questions.
Although some general discussion between students covering the assessment is allowed
your responses to each of the questions must be an individual effort.
PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload parts
of the learning guide or instructions on how to complete. When this extra information is
uploaded it presents unnecessary work for the assessors and in turn delays our assessment
responses.
Task 1 – Short answer activity
1. What benefit to your business will a well compiled marketing strategy be?
A good and appropriate marketing strategy will boost up the business of an entity. Moreover, a proper marketing
strategy will contribute in the value creation of the customer and owners.
2. List five areas you must include in your marketing research.
1. Targeted market identification.
2. Developing the idea of strength and weaknesses of the competition.
3. Pricing strategy should be formed on market research analysis, i.e. at what price the competitors are selling
the products in the market.
4. Identification of the existing similar product in the market.
5. Place is one of the most significant factor for the market research. Research should be convey on
appropriate place.
A2 © AAMC Training Group Assessment V2.2
FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business_2
FNSPRM603 Assessment
3. What are three questions may you also ask yourself as part of evaluating your strategies
performance?
1. Are the employees are aware of my expectation?
2. Do I encourage for innovations?
3. Is my communicating procedure conveyed by the company culture in a clear way?
1. What are five areas that you should cover in your evaluation of strategies when marketing
finance?
1. revenues
2. profits
3. operational efficiency
4. capital efficiency and solvency
5. liquidity
2. Market segmentation can best be described as?
Market segmentation means the categorization of a customer or a group of customers on
the basis of behaviour, character, nature, financial position, common interest, way of living
and others. This help the marketing team to create a proper strategy to attract a particular
group of customers.
3. Describe at least five strategies that you would employ from your EXISTING clients that
would help you grow your practice.
1. Taking care of your regular customers.
2. Provide special offers to attract the customers.
3. Enterprise should praise reward to the profit making customers
4. Personalizing your follow up
5. Making proper schedule timing for your customers.
a. Rank these strategies in order of effectiveness. Justify these rankings and state the
criteria by which you have developed the rankings.
Business is all about the care that a business convey to its customers. If the company or enterprise is
taking care of the existing customers then they will enjoy better customer retention policy.
Special offers means seasonal or any kind of sales advantage that a business provides to its customer
for more sales.
Assessment V2.2 © AAMC Training Group A3
FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business_3
FNSPRM603 Assessment
All enterprises has its own loyal and dependable customer base, by which a portion of profit is
generated. The enterprise must reward them by discounts, or additional benefits so that the customer
remains loyal to the business.
For a good enterprise customers are not only a numbers, rather they are more important as persons
too. Therefore, the company must create a personal relationship with its loyal customers by
completing the necessary fields when registering a contact, using personal notes and other bits of
information.
The scheduling features clearly enable to follow-up calls or emails of customers. This will help in the
maintenance of the words that have been committed to the customers who have been worthy.
b. How would you implement these strategies in the form of a plan? Make sure you mention
the role of other stakeholders who you may consult and collaborate with in developing the
plan.
In order to convert into a fully functional plan, it has to be understood that the plan will completely depend
upon determined goals, assessment of institutional rules, roles and other available tools. An action tool should
also have to be formed which will be implemented, and post the implementation, measurement and evaluation
will be carried out in order to determine the success of the plan.
In action planning some circumstantial issues might appear where even the experts are unable to conclude
something to solve the issue. However, a proper planning will help the management of the corporate entity to
carry out the success of the plan. Furthermore, the stakeholders should always be considered prior to starting a
plan because they are the primary key to the success of a business and are the people who takes forward the
organization.
c. List all indicators that you would use as a benchmark to evaluate the success of the
plan.
Benchmarking is the fixed standards that will evaluate the prosperity of any plan or activity. Benchmarking
that will be used for the determination of the success of the planning are as follows
Retention rate of customers
Satisfaction level of customers
Increase in percentage of sales
Overall performance of the employees and the mangers in accordance with the plan.
d. Describe some of the problems you may encounter once you start implementing the
plan.
In the course of implementation, the following problems might be encountered:
Lack of knowledge of the planning process or the required activity to implement plan.
Sometime in the implementation process, trying to take too much at a single time will disrupts the process.
A4 © AAMC Training Group Assessment V2.2
FNSPRM603 Assessment: Marketing Plan for a Finance Mortgage Broking Business_4

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