BSBMKG502 Establish and Adjust Marketing Mix Assignment

This student assessment workbook for BSBMKG502 Establish and Adjust the Marketing Mix covers various aspects of marketing, including consumer behavior, the marketing mix, and statistical techniques used in market intelligence. The assessment is divided into two events: knowledge questions and a MyRTO simulation. The knowledge questions require students to describe consumer behavior principles, the marketing mix, and statistical techniques. The MyRTO simulation involves evaluating, developing, monitoring, and adjusting a marketing mix for a Registered Training Organisation (RTO). Students are required to analyze strategic initiatives, develop a marketing mix for a non-accredited training program, monitor the mix against market response, and finalize the mix. The assignment includes resources such as a strategic marketing plan, budget template, market response data, and marketing policy and procedures to aid in completing the tasks. The assessment emphasizes ethical and lawful marketing practices and requires students to provide citations when using external sources.

Student Assessment Workbook
BSBMKG502
Establish and Adjust the Marketing Mix
Version 1.0
October 2016
Student Full Name:
Student ID:
Date Submitted:
Address: Level 2, 16 – 18 Wentworth Street Parramatta NSW 2150
Phone : [phone] Email : [e-mail] Web: www.avlc.edu.au

Assessment Information
Welcome to your Student Assessment Workbook for BSBMKG502 Establish and Adjust the Marketing Mix.
This Student Assessment Workbook is where you will write all your answers 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 Event 1 – Knowledge Questions
There are three questions that will provide us with evidence on your general knowledge of principles and concepts
of marketing, elements of marketing mix and statistical techniques used in market intelligence.
Assessment Event 2 – Simulation: MyRTO
You will complete a number of tasks in evaluating, developing, monitoring and adjusting a marketing mix for a
Registered Training Organisation (RTO), MyRTO. These tasks will be based on your role as a Marketing Officer in
a simulation for MyRTO, an Australian RTO that provides a blend of accredited and non-accredited training.
To complete the simulation, you will need to refer to the following resources:
Strategic Marketing Plan This document provides detailed information on MyRTO’s strategic initiatives. It
includes critical information about the current marketing mix, desired positioning,
external landscape, budget, etc. You will use this document throughout the
simulation to analyse the current market environment and determine the most
suitable marketing mix to ensure MyRTO’s organisational goals are achieved.
Budget Template This document is a template provided in the format of an Excel spreadsheet. You will
use this spreadsheet template in Tasks 2 and 3 to calculate the budget required to
successfully execute the marketing mix.
Market Response Data This data provides insight about the success of the marketing mix. You will use this
data in Task 3 when evaluating the components of the marketing mix in relation to
market factors and consumer response.
Marketing Policy and
Procedures
Policies and procedures to ensure marketing practices are conducted ethically and
lawfully. You will need to refer this when establishing the marketing mix.
Please note that your responses for both assessments can (where appropriate) use dot point format. See below of an
example of a dot point answers and a full sentence:
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 several 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.
To Achieve Competence
To be deemed competent for this unit, you will need to meet the following requirements:
 complete all the questions and tasks listed in the Student Assessment Workbook
 meet all the requirements listed in this Student Assessment Guide
BSBMKG502 Student Assessment Workbook | Student ID: Page 1

 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 timeframes
 your work must be in your own words
 where you use an external source of information, you must provide citation.
BSBMKG502 Student Assessment Workbook | Student ID: Page 2

Pre-assessment Checklist
Your assessor will go through the assessment for this unit, BSBMKG502 Establish and Adjust the Marketing Mix. It
is important that you understand this assessment before taking on the 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’ section.
When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that your
Trainer/Assessor has discussed all the information with you prior to undertaking this assessment.
Checklist Comments
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 me, how 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 successfully 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
understood the serious consequences in case this work is found
plagiarised.
Y   N I understand the process if I am deemed not yet competent.
Y   N I understand the feedback process and the appeals process.
Y   N The assessor has discussed with me if I have any special needs and if
so what arrangements have been put in place.
Student Full Name Student ID Student Signature Date
BSBMKG502 Student Assessment Workbook | Student ID: Page 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 principles and concepts of marketing,
elements of the marketing mix and statistical techniques used in market intelligence.
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.
Question 1
Describe each of the five principles of consumer behaviour, and for each one, provide an example of how it influences
buying behaviour.
Write your response into the table:
Principles of consumer behavior Explanation of principle Examples of buyer behavior
Cultural These aspects have a great
effect on the behavior of a
consumer and the way their
influence behavior is
considerably profound and
wider. There is a need
therefore for marketers to
recognize consumer’s culture,
subculture, and social class and
identify the roles played by
them on buyer’s behavior.
 Culture of the buyer
 Subculture and
 Social class
Social Social elements which include
small groups of consumers,
their families, consumer’s
social roles and their status
have a great impact on the
behavior of consumers.
 Social groups
 Family
 Status and roles
Personal The characteristics of an
individual which include their
age, lifestyle, profession, their
economic condition, their
personality, and own
perception affect the decisions
of consumers as it greatly
influences their behavior.
 Age
 Profession
 Condition of the economy
 Personality and own
perception
 Lifestyle
Psychological Psychological factors have a
great impact on the decisions
made by the buyers. These
aspects affecting buyer
decision include the level of
motivation a product exerts to
an individual, their insight,
principles, and attitudes as well
as knowledge brought about by
the product or service to be
bought.
 Motivation
 Level of need
 Opinions and insights
 Principles and attitudes
 Knowledge
Conditional/ Situational The condition in which the  Physical condition/situation
BSBMKG502 Student Assessment Workbook | Student ID: Page 4

buyer is in will influence
his/her decisions. Situational
factors are short term and they
have a deeper influence on the
buyer depending with the level
or the extent to which the
consumer need a product.
These factors whether a
consumer will either purchase
a service or a product, purchase
extra services or even buy none
of your offerings.
 Social circumstances
 Tome situations
 Buyer’s own reasons for
purchase and
 The moods of the customer
Question 2
Describe the four principles of the marketing mix and apply them to an industry context.
Write your response into the table:
Principles of the marketing mix Explanation of the marketing
mix
Industry-specific example
Product A product can be described as
anything designed or
developed in order to meet the
requirements of a given group
of individuals. A product can
take any shape or form which
is either physically tangible
good or an intangible form
such as a service.
i. Detergents and cosmetics
ii. Clothing
iii. Healthcare supplies
iv. School supplies among
others.
Price Price is the valuation of a
product and it includes what
consumers give in return to
enjoying a product. Price is a
significant factor when
designing a marketing mix
strategy.
i. Price skimming
ii. Reduced/low-cost pricing
iii. Package pricing
iv. Premium pricing
Promotion Promotion involves the
creation of brand awareness to
the public in order to gain a
broad base of customers to buy
your product. Through
promotion which is conducted
through various campaigns
including advertising can help
in boosting recognition of a
brand and also the sales level
can also go up.
i. Social media platforms
ii. Newspapers
iii. Magazines
iv. Televisions and radios
v. Flyer
vi. Brochures
vii. Posters
viii. Internet
Placement This can be said to be the place
at which sales will be done and
it includes the channels to be
used in distributing the
products from the producers to
consumers. To enhance the
accessibility of the product,
i. Channels of distribution
 Physical office
 Wholesalers
 Retailers
 Salespersons
 Firm’s branches
BSBMKG502 Student Assessment Workbook | Student ID: Page 5

there has to be a well-defined
channel of distribution
including physical offices
where potential customers can
purchase the products.
Question 3
Outline five statistical techniques used to gather and analyse marketing information, and then explain how each can be
used in market intelligence.
Write your response into the table:
List of five statistical techniques Explanation of the technique Industry-specific example
Factor analysis This is a statistical technique
used in explaining the variation
in the observed, interrelated
variables in relations to the
possibility of a reduction in the
number of the unnoticed
variables referred to as factors.
Analysis of variance (ANOVA) This is where numerous
models of statistics are brought
together with their procedures
of estimation to examine the
differences existing between
groups. Group means
differences are analyzed in a
sample. Ronald Fisher who is a
biologist and a statistician
came up with this tool. The
tool can be significant when
testing groups which are more
than three.
Correlation statistics This is a very useful tool which
is used in the identification of
the relationship which exists
between variables. The method
can be useful when finding out
different factors in an
individual which significantly
varies with other factors in the
same individuals with a similar
one factor while other factors
may be varying.
Sampling It is a process where different
thoughts and ideas are
collected from people and this
is applicable where there is no
possibility of accessing the
whole population.
Regression analysis It is the technique used in
approximating variable
relationships. The technique
involves examination of
BSBMKG502 Student Assessment Workbook | Student ID: Page 6

various variables where the
concentration is made on a
single dependent variable
where the relationship with
other independent variables is
analyzed.
BSBMKG502 Student Assessment Workbook | Student ID: Page 7

Assessment Event 2 – MyRTO Simulation
In this assessment, you will undertake a number of tasks associated with developing and adjusting the marketing mix
for a Registered Training Organisation (RTO), MyRTO. The focus is on determining the marketing mix for a non-
accredited training program and adjusting it to meet organisational marketing objectives. To achieve this, you will
perform the following actions:
 review and evaluate the current marketing mix from the Strategic Marketing Plan
 develop the marketing mix for the non-accredited training program
 monitor the marketing mix against market response
 finalise the marketing mix for the non-accredited training program.
Task 1: Evaluate Each Component of Marketing Mix
In Task 1, you will evaluate MyRTO’s strategic initiatives and establish a groundwork to determine the marketing mix
that best satisfies the marketing initiatives.
To achieve this, you will need to refer to the Strategic Marketing Plan provided to you as a separate attachment.
1.1 Identify key characteristics of the Change Management training program
Insert your response into the table:
Key characteristics Significance to the market
Interdisciplinary This involves the development of something which is generally new by
thinking across restrictions.
Networked By seeing the big picture of the organization and considering it from the
main viewpoint of distributors, much will be gained in regards to the
complexity of the existing relationships and elements of the organization.
Personalized This involves the methods of achieving the requirements of customers in a
cost-effective way while at the same time making communications quicker
and easier, customer satisfaction will be achieved due to quality customer
service and repeat visits by customers is probable.
Collaborative This is where organizations agree and decide through the signing of a
consent to share their resources with each other in order to achieve a
common goal.
Inquiry-based This is the type of learning in which individuals directs questions to
themselves and to answer these questions, they have to undertake research.
This technique inspires someone to come up with questions which will be
useful in learning about a given topic instead of providing students with
straight away knowledge.
BSBMKG502 Student Assessment Workbook | Student ID: Page 8

1.2 Review pricing policy and analyse pricing variables to determine their effect on
demand
Insert your responses into the table:
Pricing policy and variables Effect on demand
Pricing policy 1: Deals with special
packages
 public: the offer attractiveness will be increased if
discounts are offered to groups.
 NGOs: quality products which are reasonably priced will
raise the level of sales
 corporate: the demand for the product may be affected
positively
Pricing policy 2: Price discrimination  public: unavailable
 NGOs: raising sales through price reduction
 corporate: unavailable
Pricing variable
1:
Chosen price point  public: discounts offered to groups may inspire people to
purchase an offer
 NGOs: providing products of good quality will raise
product demand
 corporate: medium and high-class people will be attracted
to the high prices set for a product with the perception of
the product having good quality.
Pricing variable
2:
Premium pricing  public: medium and high-class individuals will be
attracted
 NGOs: unavailable
 corporate: high and medium class people will regularly be
attracted to high prices as they related the prices with
good quality products.
Pricing variable
3:
Flexible payment
options
 public: pricing strategy will be negatively affected
because expenses will be incurred
 NGOs: unavailable
 corporate: people will be attracted to this but loyalty must
be maintained
BSBMKG502 Student Assessment Workbook | Student ID: Page 9

1.3 Analyse promotional methods to determine their importance to marketing
outcomes
Insert your response here:
 Public relations
This is a strategy where the mutual relationship between organizations, the general public, and media is
created. A positive coexistence between different party has to be maintained. Other than ensuring proper
public relationship which entails the development of favorable publicity through the media, its also
important to ensure the reduction of negative situations which might occur.
 Personal selling
This involves the creation of brand awareness where the salesperson representing a particular firm interacts
with their targeted audience of consumers on a face to face dealings where they transact business.
Significance of these promotional methods to marketing outcomes
Promotion of goods and services is significant when marketing firm’s products. This is where an
organization brand is introduced to a targeted audience to inform them about the availability of the brand
including communicating to them the key ingredients of a product and the benefits accrued with the use of
the product. Customers through promotional campaigns get aware of a product offering and probably get
attracted to the brand thus becoming interested in the product. Promotions provide an organization with
customers who become loyal to the organization and its offering. Several methods are used in promotion
including advertising, personal selling, and public relations.
1.4 Review channels of distribution and estimate their significance to marketing
outcomes
Insert your response here:
Zero level channel Direct channel
Producers here distribute their goods and services directly to the consumers rather than using intermediaries
such as wholesalers or retailers.
Indirect channel
This is where the producers of goods and services use the intermediaries of middlemen to assist in the
distribution and selling of goods to the consumers by taking the products from the point of production to the
consumers.
1.5 Identify and analyse level of customer service provision to determine its significance
to marketing outcomes
Insert your response here:
Customer service
BSBMKG502 Student Assessment Workbook | Student ID: Page 10

Companies produce goods and services to offer in the market place to a targeted audience where that
audience happens to e in need of the product offering. The company will, therefore, transact business with
the customers where they will offer their products and receive money in return. This is a swift method where
once each party is satisfied, the transaction is closed
Customer engagement
This can be described as an interaction between customers and companies where customers keep in touch
with their favorite companies in order to develop a mutual relationship, trust, and loyalty between them and
the company. Customer engagement is not about transacting businesses but it’s about the creation of the
relationship. Through mutual understanding, customers will always purchase their products from the
company they are well engaged for a long time.
Customer intimacy
This is the point at which the company due to the relationship that exists between them and the customers,
can foresee the needs of customers and therefore act in resolving the issue in order to meet these needs in
future.
BSBMKG502 Student Assessment Workbook | Student ID: Page 11