BSBMKG502 - Marketing Mix: Knowledge Assessment, [University Name]

This document presents a comprehensive solution to the BSBMKG502 Knowledge Assessment, covering key aspects of marketing mix, consumer behavior, and marketing strategies. It includes detailed answers to questions on organizational policies, marketing communication methods, product development, the purpose and components of the marketing mix, consumer behavior principles, the product life cycle, and various pricing, promotion, and distribution strategies. The assessment also delves into statistical techniques for gathering and analyzing marketing information. The provided answers demonstrate an understanding of core marketing concepts and their practical application, making this a valuable resource for students studying marketing. This assignment is a knowledge assessment for the BSBMKG502 unit, focusing on establishing and adjusting the marketing mix. The assessment includes questions on various marketing topics, such as product and service analysis, marketing mix components, consumer behavior, the product life cycle, pricing strategies, promotion strategies, distribution strategies, and statistical techniques for gathering and analyzing marketing information. The assessment aims to evaluate the student's understanding of marketing principles and their ability to apply them in different scenarios. The document provides a detailed and insightful response to each question, demonstrating a strong grasp of the subject matter.

BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
ASSESSMENT COVER SHEET – ASSESSMENT 1
KNOWLEDGE ASSESSMENT
Instructions to the learner:
Print this coversheet and complete it by filling in all the required information and affixing your
signature in the space provided. Your signature must be hand-signed. Scan the completed cover
sheet and submit it along with your evidence submissions. Use the filename BSBMKG502
Assessment 1- Knowledge Assessment Cover Sheet.
Unit Title BSBMKG502
Unit Name Establish and adjust the marketing mix
Student Name Kate Smith
Phone & Email 0477004637 [e-mail]
Circle the submission Submission 1 Submission 2
Please read the Learner Declaration below and if you agree to the terms of the declaration, sign and date
in the space provided.
Information relating to assessments:
 Students are required to keep a copy of each assessment submitted to Assessor.
 When resubmitting an assessment, attach the previous assessment.
By submitting this work, I declare that:
 I have been advised of the assessment requirements, have been made aware of my rights and
responsibilities as an assessment Learner, and choose to be assessed at this time.
 I am aware that there is a limit to the number of submissions (2) that I can make for each
assessment, and I am submitting all documents required to complete this assessment.
 I have organised and named the files I am submitting according to the instructions provided, and I
am aware that my assessor will not assess work that cannot be clearly identified and may request
the work be resubmitted according to the correct process.
 This work is my own and contains no material written by another person except where due
reference is made. I am aware that a false declaration may lead to the withdrawal of a
qualification or statement of attainment.
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
Name: Kate Smith Signature: Date: 15 Feb 2020
ASSESSMENT 1 - KNOWLEDGE ASSESSMENT
Assessment Instructions for learners:
You need to answer all of the written questions correctly.
Your answers must be word processed and submitted together with the coversheet on
Moodle.
Resources Required:
 Access to textbooks/other learning materials
 Computer and Microsoft Office
 Access to the internet/Moodle
Assessment Submission:
Your assessor will advise you of the due date of these submissions.
What evidence to Submit:
• Answers to all questions
Written answer question guidance:
The following written questions use a range of “instructional words” such as “identify” or
“explain”, which tell you how you should answer the question. Use the definitions below
to assist you to provide the type of response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail,
and identify important points and key features. Generally, you are expected to write a
response one or two paragraphs long.
Compare – when a question asks you to compare something, you will need to show how
two or more things are similar, ensuring that you also indicate the relevance of the
consequences. Generally, you are expected to write a response one or two paragraphs
long.
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
www.kcbt.wa.edu.au|[e-mail]
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
Contrast – when a question asks you to contrast something, you will need to show how
two or more things are different, ensuring you indicate the relevance or the
consequences. Generally, you are expected to write a response one or two paragraphs
long.
Discuss – when a question asks you to discuss something, you are required to point out
important issues or features and express some form of critical judgement. Generally, you
are expected to write a response one or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most
noticeable qualities or features. Generally, you are expected to write a response two or
three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting
forward arguments for and against something. Generally, you are expected to write a
response one or two paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”,
where you should provide a detailed response with key points and features and provide
critical analysis. Generally, you are expected to write a response one or two paragraphs
long.
Explain – when a question asks you to explain something, you should make clear how or
why something happened or the way it is. Generally, you are expected to write a
response two or three sentences long.
Identify – when a question asks you to identify something, this means that you are asked
to briefly describe the required information. Generally, you are expected to write a
response two or three sentences long.
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
www.kcbt.wa.edu.au|[e-mail]
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
1. Outline two organisational policies and procedures that are relevant to marketing.
Marketing and Advertising Policy and Procedure: the purpose is to ensure accuracy and
integrity of the marketing meet the standards of the organisation and provide details of
authorised personell who sign off marketing efforts. They may also reference any laws
that may have to be adhered to within the Marketing efforts of an organisation.
Social Media Policy: Most organisations now have Social Media policies for employees to
abide by. The purpose of the policy is to ensure employees conduct themselves in the
appropriate manner when representing the organisation or representing themselves but
have links to the organisation. It will usually outline what is and isn’t acceptable. Having a
policy in place ensures that the organisation’s reputation remains intact.
2. Analyse the following information on products and services and, based on your
analysis, recommend an appropriate marketing communication method. Provide a
rationale for your recommendation.
Product
NatureCare Products is an Australian owned producer of natural skin care products.
Its main target groups are professional women aged 25 – 55. The company wishes
to promote its products as high quality, eco-friendly products. Currently products
are sold online and through health care shops. However, the company wishes to
find other media options that fit its branding image. Being a profitable company, it
can afford to spend at least $50,000 on marketing.
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
Service
Grow Management Consultants provide leadership development services to
businesses. The company has been established for six months only and has 5
clients. The company would like to expend its client based but due to limited funds
is seeking advice on low cost and effective media options.
Due to the demographics of the target audience I would recommend using Facebook as
a free marketing platform to generate brand awareness and target potential leads.
Although FB have targeted ads an organic campaign can also be implemented. Facebook
is also a good platform to network and engage with potential customers and to really
voice the organisation values.
3. Outline how the development of new products or services can provide marketing
opportunity options for a business, both in existing and new markets.
When developing any new line or product The target market, customer profile,
demographics and market analysis will need to be conducted. Developing new products
can help meet current customer needs, the development of new products can also help
reach other target markets.
4. Describe the purpose of the marketing mix and each of its components.
The purpose of the marketing mix is to effectively communicate with the target audience. The marketing
mix consists of:
Price: It is the total money which is charged for the particular services and the product or total sum value
which the consumers generally exchange for gaining the benefits for using the services or products.
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
www.kcbt.wa.edu.au|[e-mail]
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
Product: it refers to the actual item which is required to be sold in the market on a complete basis.
Place: Place refers to the actual selling point understanding the demand along with taste and preference of
consumers.
Promotion: It generally means the activities which are undertaken for the part of making the servicesor the
products known to trade and the users.
5. Describe three key principles of consumer behaviour and their influences on
consumer buying behaviour.
Principles Influences on consumer behaviour
1. Reciprocity For the consumers, it generally means offering and aviling the
system of free samples or generous discounts.
2. Commitment
For the consumers once they are usia service related to a
particular product them they are more commited under the
area of paying any respective amount for it.
3. Pack Mentality
When brands genrally demonstrate their popularity for large
population of customer base, then other consumers may also
demonstrate their interest in buying it.
6. Describe how consumer behaviour impacts on determining the marketing mix.
Through the system of adopting certain marketing mix factors needs and tual interest
related to the taste and preference of consumers can be easily identified for the part of
making marketing decision in the future. This also has beneficial role under the area of
market planning function. The tactics and stargies of the market is ciimpletely based and is
related to the system of consumer ebhavior on a complete basis.
7. Describe the product life cycle and its impact on the marketing mix.
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
Product life cycle within the internal environment of the organization or the market is
generally categorised under four major heads which generally involves, introduction,
maturity, growth and decline. It is ised by the market to understand and avaluate what
can be the actual time for increasing advertising, reducing the prices, expanding in to new
markets and redesigning the packaging system.
8. Describe three types pricing strategy that a business could adopt.
Pricing Strategy
1. Penetrating
2. Skimming
3. Following
9. Describe three types promotion strategy that a business could use.
Promotion Strategy
1. Online and traditional adverstising
2. Direct marketing and,
3.Direct Selling
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
10. Describe the three types of distribution strategy that a business could use.
Distribution Strategy
1. Indirect Distribution
2.Intensive distribution and,
3.Exclusive Distribution
11. Outline two statistical techniques that can be used to gather and analyse
marketing information.
Statistical Techniques
1. Factor Analysis : This particular method is used for the part of establishing what are the stronges
domsnions which are underlying for a large set variables which are completely intercorrelated.
2. Cluster Analysis : This particular method is used when the goal is genrally to group set of
data objects together in to homogeneous groups
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
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BSBMKG502 Establish and adjust the marketing mix
Assessment 1 – Knowledge Assessment
170 Wellington Street, East Perth 6004, WA, Australia | Phone: [phone] | Fax: [phone] |
www.kcbt.wa.edu.au|[e-mail]
Current Version: 1.1 Current Version Date: April 2019 Next Review: April 2020 PAGE NO: 9
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