BSBMKG501: Identify and Evaluate Marketing Opportunities - Assessment

This document presents a comprehensive assessment workbook for the BSBMKG501 unit, focusing on identifying and evaluating marketing opportunities. The assignment covers key provisions of relevant legislation, codes of practice, and national standards affecting marketing operations, including the ADMA code, ACMA, ACCC, and Australian Consumer Law. It also delves into the principles of marketing and the marketing mix, providing detailed explanations. Furthermore, the assignment explores statistical methods and techniques, including forecasting, to evaluate marketing opportunities. A significant portion of the assessment involves a simulation where the student takes on the role of a Marketing Specialist for Emu Fitness, analyzing market data, researching new markets, and exploring entrepreneurial approaches to identify and capitalize on potential marketing opportunities, including consultancy and distance coaching services, and calculating potential ROI.

Identify and Evaluate
Marketing Opportunities

1. Assessment Information
Welcome to your Student Assessment Workbook for BSBMKG501 Identify and Evaluate
Marketing Opportunities.
This Student Assessment Workbook is where you will write all your responses for the
knowledge questions and simulation tasks. Please refer to the Student Assessment Guide for
more information.
This assessment has the following two events:
Assessment
Workbook
BSBMKG501
Identify and Evaluate
Marketing Opportunities

To complete the Simulation, you will need to refer to the following resources:
Please note that your responses for both assessment events can (where appropriate) use dot
point format. See below an example of a dot point response and a full sentence response.
To Achieve Competence
To be deemed competent for this unit, you will need to meet the following requirements:
 complete all of the questions and tasks listed in the Student Assessment Workbook
 meet all the requirements listed in this Student Assessment Guide
 your responses to the questions and tasks must be relevant, accurate and specific
 submit your completed Student Assessment Workbook to your Assessor within the set
time-frames
 your work must be in your own words
 where you use an external source of information, you must provide citation.
Assessment Event 1 – Knowledge Questions:
There are three questions that will provide us with evidence of your general knowledge of
legislative requirements in marketing operations, principles of marketing and marketing
mix, and statistical techniques to evaluate marketing opportunities.
Assessment Event 2 – Simulation: Emu Fitness
You will complete a number of tasks that will provide us with evidence of your
skills with reviewing then planning the implementation of marketing opportunities
within the fitness industry. These tasks will be based on your role as a Marketing
Specialist in a simulation with an organisation called Emu Fitness that operates in
the fitness and health sector.
Strategic
Marketing
Review
This document is used in Task 1.1 where you will review the
current market and potential opportunities.
ROI and Cost
Template
Excel template used in Task 2.3 where you will calculate the
probable return on investment for each of your proposed marketing
opportunity.
Dot point format Presentation Plan includes the following:
 outcomes
 needs of the audience
 context.
Full sentence
format
When you are preparing for a presentation, there are a number of
tasks that must be carried out. These are listing the outcomes that you
want to achieve, followed by the identification of the needs of your
audience. When you have completed these two tasks you then check
on the room that you will be conducting the presentation in.

2. Pre-assessment Checklist
Your assessor will go through the assessment for this unit, BSBMKG501 Identify and
Evaluate Marketing Opportunities. It is important that you understand this assessment before
taking on the questions and tasks. To confirm that 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 your understanding or ‘N’ if you disagree. In case you disagree with an item, please
provide your reason under the ‘Comments’ column.
When you have done this, we ask you to sign this Pre-Assessment Checklist. This
acknowledges that your Trainer/Assessor has discussed all of the information with you prior
to undertaking this assessment.
Pre – assessment Checklist
C
o
m
m
e
n
t
s
Y
  N I, the student, understand the purpose of the assessment.
Y
  N I understand when and where the assessment will occur, who
will assess and in what format the assessment will be submitted.
Y
  N I understand the methods of assessment.
Y
  N I understand what resources are required to complete this
assessment.
Y
  N I understand the performance level required for each assessment
event.
Y
  N
I understand that it must be my own work. I have been
explained and understand the serious consequences in case this
work is found plagiarised.
Y
  N I understand the process if I am deemed not yet competent.

Student Full
Name
Student ID Student
Signature
Date

3. Assessment Event 1 – Knowledge Questions
The information contained in this assessment event lists the questions that you will need to
develop a written response. These questions are theoretical and provide evidence of your
understanding of legislative requirements in marketing operations, principles of marketing
and marketing mix, and statistical techniques to evaluate marketing opportunities.
Note you must answer these questions in your own words. Remember, you must get a
satisfactory result with each question to be deemed satisfactory for the whole of Assessment
Event 1.
1. Question 1
Outline key provisions of relevant legislation, codes of practice and national standards
affecting marketing operations.
Write your response into the table:
Legislation/Codes/
Standards
Summary of Key Provisions
1. Association for Data-
Driven Marketing and
Advertising (ADMA)
The ADMA is marketing code of practice that sets leading
industry standards which are relevant and also allow for
future development and growth. This code meet all the
current needs of industry like future proof approach and
flexible approach to self regulations (Sawhney and Miniati,
2017).
The ADMA code was developed for setting standard of
conduct for the marketers in order to reduce the risk of
breaching regulation provisions. This also helps in
promoting a best practice culture and serves as benchmark
that settles disputes and also increases the confident for
doing business with members of ADMA who are bounded
by the code provisions. Thus, this code of practice
influences and affects the marketing operations and
practices of the business.
2. Australian
Communications Media
Authority (ACMA)
Australian Communications Media Authority is the
government body that is responsible to regulate the radio-
communications, broadcasting, online content and
telecommunications. The roles and responsibilities of
ACMA also includes promoting of the self-regulations and
the competition while protecting the customers and also
other users.
Therefore, the business and its marketing operations may
get influenced and affected due to practices and standards
of the government bodies.
3. Advertising Standards
Regulation in Australia
The Advertising Standards Bureau focuses on
administering the advertising system and self-regulations of

the Australia through the Advertising Standards Board and
also the Advertising Claims Board. The Advertising
Standards Board websites includes guidance and links for
the member public for complaining in relation to any
particular adverts within the Australia (Cirillo and et.al.,
2016).
The self-regulation system focus on recognising that
advertisers share common interest for promoting customer
confidence in and also respect for the respect the
advertising's general standards.
The Advertising Standard Board aims at providing free
public service in relation to resolving the complaints. It
focus on providing determinations on the complains about
many forms of the advertising in respect to issues as well.
Thus, these standards and regulations affects and influences
the marketing practices and operations of the businesses.
4. Content Marketing
Associations (CMA) The Content Marketing Association is agency professional
group that is committed for establishing standards and
codes of practice and also expands the boundaries for the
industry of content marketing (Rundh, 2015).
The members of the CMA needs to conduct their marketing
affairs in ethical and professional manner and in accordance
with current codes of practices of the Content Marketing
Association (CMA). All the members have the positive
duty for observing the highest standards within the content
marketing practices. Thus, it can be said that such practices
can affect and influence the marketing operations of the
business.
5. Australian Competition
and Consumer
Commission (ACCC)
The ACCC is the national agency of the Australia's Federal
government that deals generally with the competition
matters. The ACCC promotes competition and also fair
trade within the market place for benefiting the customers,
business and community as well. The marketing operations
of business may get influenced and affected due to the
Advertising and Selling Guide for the businesses.
6. Direct Marketing Code of
Practice The Association for Data-Driven Marketing and
Advertising (ADMA) and its Code of Practice focuses on
providing agile and principle-based compliance framework
which places the interest of customers at its core. It also
provides guidance and support to marketers that they need
for making responsible decisions regarding the technology,
data, content, customer experience and creativity.
The direct marketing code of practice helps the direct
marketing industries for gaining the interest of customers
(Shepherd and Zacharakis, 2018).

Therefore, these code of practices leads to bring influences
on the business and its marketing operations as well.
7. Australian Association of
National Advertisers
Australian Association of National Advertisers (AANA) is
a peak national body that champions the advertiser's of
Australia. This national body exists for inspiring and
promoting the innovative, responsible and respected
marketing, through the commitment for sustainable
industries collaboration. And thus, it brings influences on
the marketing operations as well.
8. Australian Consumer
Law The Australian Consumer Law covers the customer
guarantees which needs to be considered by the marketing
professionals and particular attention needs to be also paid
(Ajdari, Soltanifar and Ansari, 2016). This is related to the
marketing as it covers the topic about what is actually
described or promised in the marketing message or contents
to the customers before the purchase is made. Therefore, it
can be concluded that this law leads to bring affects on the
marketing operations of the business.
9. Do-Not-Call legislation The new telemarketing law or legislation of Australia
named as Do-Not-Call legislation came into effect from 31st
may 2007. The Australian Communications and Media
Authority regulates the Do-Not-Call legislation. The law
describes that it is considered as illegal if telemarketers are
calling to Australian phone numbers which are for domestic
and personal use. And also if the owner of the number has
put telemarketers on the do-not-call register. Therefore, this
legislations leads to bring affects and influences on the
marketing operations of business (Cirillo and et.al., 2016).
10. Anti- Spam Legislation The Anti- Spam bill was introduced to the Australian
Federal parliament in the September 2003. The legislation
describes that it is considered as the civil offence is the
business uses address harvesting software for constructing
the distribution list of the recipients or any list framed in the
same way. This has also became as a common practice for
the email marketing companies. Thus, the marketing
operations of business gets affected by this legislation.
2. Question 2
Explain principles of marketing and marketing mix.
Write your response into the table:

3. QPrincip
les Explanation of the marketing mix Industry-specific example
Product
The product are the goods and
services offered by the company to
its customers.
The product is the item which is
produced or built for satisfying the
needs and wants of people. The
product can be tangible or intangible
as it can also be in the form of
services.
 The base of operations of EMU
fitness centre is in North Sydney
and it offers following services
and facilities:
1. gym for cardio and weight-
lifting.
2. Boxing, martial arts and kendo.
3. Classes for yoga, pilates, cycle,
BodyPump, Full Body Life, Fat
Burner and BodyAttack.
 The EMU Fitness centre
provides quality services classes
and has also maintained quality
equipments.
 Diverse equipments are offered
by EMU Fitness (Bell, Bryman
and Harley, 2018).
Price
The price ensures about the fair
value within the transaction of goods
and services.
The price of the product is the
amount which customers pays for
the goods and services being
purchased (Erzurumlu, Canakoglu
and Erzurumlu, 2018). It is
considered as an important element
of the marketing mix because it
determines the profitability of the
company.
 The EMU Fitness centre has low
cost structure that includes
labour, maintenance and service
delivery.
 The membership price is also
convenient for the customers or
members.
Promot
ion
It can be referred as the information
and communication regarding the
goods and services.
The promotion helps the company to
boost brand reputation and
recognition and increases sales. It
comprises of various important
elements such as public relations,
advertising, sales promotion and
sales organisation.
 The EMU Fitness centre have
maintained online presence.
 The sales team of EMU Fitness
is effective and promote the
centre effectively.
 Innovative offerings are
provided by the EMU Fitness
centres that helps in promoting
the brand.
 Innovative and effective
facilities of EMU Fitness centre
also acts as promotional effort
of company.
Placem
ent
This can be referred as the delivery
or distribution of the goods and
services.
Placement is also referred as the
distribution and it is very important
element of the marketing mix as
 The EMU Fitness centre
operates in Sydney having 15
health clubs and there 7500
active members of the EMU
fitness centre. And its operating

uestion 3
Describe statistical methods and techniques, including forecasting techniques, to evaluate
marketing opportunities.
Write your response into the table:
Statistical techniques and
methods
Industry-specific example
1. Opportunity stages
forecasting method
This technique can be used by the EMU Fitness centre for
assessing the performance of its team and for checking if
they need any improvement. In order to implement this
technique, EMU Fitness centre needs to analyse and
understand the past performance of the team (Kumar,
2018).
2. Business Intelligence
tools
EMU Fitness can make use of these tools for
understanding the preferances of customers in better way
and evaluating the market opportunities.
3. Survey and Judgemental
forecasting techniques
The judgemental and survey techniques rely on
judgements of people and it includes expert opinions,
customer intention survey, customer surveys and estimates
by sales persons.
4. Time-series forecasting
method
This statistical techniques observes the sales pattern.
Trend analysis is one of time-series technique which can
be used for measuring the rate of increase of sales in the
past and forecase it for the future.
5. Correlates techniques
This is considered as the special form of the trend
analysis. This technique bases sales forecase on various
trend patterns of the relatble variables (Perez, Lu and
Younge, 2015).
6. Response models
The EMU Fitness centre can base its marketing forecase
which is based on the past responses of the customers to
the marketing techniques.
7. Regression model
This model is casual forecasting method output which
establishes the relationship between the variables. The
EMU fitness can use this technique for getting an in-depth
quantitative review about the factors that may affect the
sales of business and make required changes to the sales
process.
8. Market Tests
This techniques is considered as the experimental model.
EMU Fitness can launch a new fitness program in small
market for gaining the knowledge about how large market
will respond to it.
9. Delphi method
This method is intended by the EMU Fitness for achieving
the consensus forecast. Respondents, decision makers or
experts and staff coordinator or staff personnel are the
participants of the Delphi method.
10. Jury of executive opinion
Through this method, EMU Fitness centre can evaluate
marketing opportunities (Witten and et.al., 2016). The
opinions of high level managers is considered and then
comined with statistical data. These are then pooled for

4. Assessment Event 2 – Emu Fitness Simulation
In this simulation, you will take the role of Marketing Specialist for a fitness and health
organisation called Emu Fitness (Witten and et.al., 2016). In this role, you will show your
skills in identifying, evaluating and taking advantage of marketing opportunities. You will
undertake an analysis of the market data and information, review the characteristics and
trends, and then assess the viability of changes to its current operations.
4. Task 1: Identify marketing opportunities
In this task, you will focus on an analysis of the external market in particular variables such
as consumer interests, technology, competition etc. in an attempt to identify potential
marketing opportunities (Shepherd and Zacharakis, 2018).
5. 1.1 Analyse information on market
Insert your responses into the table:

6. 1
.
2
Research potential new markets
Insert your responses here:
Segments of the market that are not currently penetrated: The EMU Fitness centre can
pentrate into the consultancy markets. The EMU fitness can provide guidance and direction
to the people regarding the helathy food habits and enter into new market segments by
providing health related advices and guidance to people (Perez, Lu and Younge, 2015).
Distance Coaching: The EMU Fitness have the potential new markets i.e. distance coaching.
This refers to providing personal services to people such as personal trainer.
7. 1.3 Explore entrepreneurial approaches for their potential business
application
Insert your responses here:
Macro Factors Marketing Opportunities Rationale
1. Consumer interest The customers interest in the
goods and services of
company can be used for
analysing the available
market opportunities
(Sawhney and Miniati,
2017). The customers are
interested for having
personal trainers.
The interest of customer
helps in identifying the exact
opportunities available in the
markets.
2. Politcal factors The government supports
the intiatives towards the
healthcare services and
service providers.
Market opportunities can be
effectively analysed by
analysing the changes in
regulatory framework can
create market opportunities
(Rundh, 2015).
3. Technology The new and advanced
technologies for the gym and
fitness excerises are entering
the markets.
The changes in technological
factors leads to create market
opportunities.
4. Competition Innovative services and
programmes are being
offered by the key
competitors.
For effectively analysing the
demand and purchase, it is
important to analyse the
overall supply including
competitors.
5. Brand reputation Good brand image of
company can make the
customer base more strong
and helps in gaining benefits
of market opportunities.
The reason for analysing the
brand image and reputation
is that it will help in
identifying the market
position of the company.