BSBMKG501 Identify And Evaluate Marketing Opportunities Assignment-Australian Vocational Training Institute

Assessment Type	This is a summative assessment, which requires each student to have adequate practice prior to undertaking this assessment
Assessment Methods	Observations	Assessment 1 (research marketing opportunities)
	Written Assessment or Project	Assessment 2 (Written Assessment  /  Project)

Assessment: BSBMKG501 Identify And Evaluate Marketing Opportunities

Unit Summary

This unit describes the performance outcomes, skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing the characteristics of possible markets and assessing the viability of changes to operations. This unit applies to individuals working in senior marketing management roles who, together with a marketing team, identify, investigate and evaluate marketing opportunities to determine whether they meet organisational and marketing objectives. Based on this evaluation, changes to current business operations can be determined to take advantage of marketing opportunities

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Unit Code:	BSBMKG501
Unit Title:	Identify and evaluate marketing opportunities

ASSESSMENT 1 – STUDENT INFORMATION

For this assessment, you are to identify and evaluate potential new marketing opportunities for a company (client) of your choice.  Please refer below for details regarding the client.

During your research, you are to hold at least one meeting with your client to determine (as a minimum):

• business structure
• products / services offered
• budgets
• current marketing strategy (if any)
• previous marketing strategies and outcomes
• client expectations

Remember to be prepared for any discussions with the client.  Know what you want to find out, and what you want to ask.  Don’t forget to consider the clients previous experiences, budget and expectations whilst identifying and choosing suitable marketing opportunities.

You are to present at least 3 marketing options for your client, ranked in terms of viability and likely contribution to the business.  Your presentation must:

• be professional
• include handouts
• present appropriate and relative new marketing opportunities
• outline the reasons behind your proposed marketing opportunities
• be compelling

This assessment may be undertaken in the following formats: 

• On the job.
  • Using real clients, products and services. Please discuss this opportunity with your assessor prior to commencing the task, to ensure appropriateness to unit.  Remember – your assessor will need to observe your client presentation.

• Classroom / Simulated environment. These assessments must
  • Your assessor may present a business, an “imaginary company” or the college as your client
  • Your assessor will play the role of the client throughout the assessment.
  • You must ensure all dealings with your “client” is professional, as you will be assessed throughout the full process.

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ASSESSMENT 1 – ASSESSOR CHECKLIST

In undertaking this assessment, did the student		Satisfactory	Comments
Gather background information on the product and client to improve understanding		r Yes r No
Arrange a time to discuss requirements / expectations with the client		Yes r No
Talk with the client and discuss / confirm
Company history / structure		Yes r No
Company direction		r Yes r No
Marketing history		r Yes r No
Expectations		r Yes r No
Budgets		r Yes r No
Constraints		r Yes r No
Time-lines		r Yes r No
Identify and research the product / service to be marketed		r Yes r No
Identify options for marketing (please tick)	B2B marketing Direct marketing Ideas marketing Marketing of goods Public sector marketing Services marketing Telemarketing
Consider new markets (please tick)	e-commerce export markets new segments other:
Assess marketing opportunities in terms of
Effect on sales volume		r Yes r No
Growth		r Yes r No
Market share		r Yes r No
profitability		r Yes r No
Consider external factors that may impact on marketing strategy (codes of practice, policies / guidelines, regulations, legislation, etc)		r Yes r No
Consider a variety of marketing sources (such as  print, business to business, leaflet drops, internet marketing, fax / direct mail, radio, television, billboards, front of house signage, etc)		r Yes r No
Provide realistic and plausible reasons for selecting the type and frequency of marketing (rationale)		r Yes r No
Develop a creative marketing medium		r Yes r No
Evaluate each marketing opportunity in terms of
Knock out factors		r Yes r No
Present value analysis		r Yes r No
Return on investment		r Yes r No
Scored criteria		r Yes r No
Weighted criteria		r Yes r No
Appropriateness to business goals / objectives		r Yes r No
Probable impact on business		r Yes r No
Probable impact on customer base		r Yes r No
Present marketing opportunities that are current in terms of market trends		r Yes r No
Present marketing opportunities that meet organisational objectives		r Yes r No
Detail how the strategy will be implemented		r Yes r No
Detail changes required in business operations to comply with marketing strategy		r Yes r No
Detail resources required for each marketing strategy		r Yes r No
During the presentation, did the student
Provide an outline / summary of the client expectations		r Yes r No
Discuss the considerations undertaken when identifying marketing strategies		r Yes r No
Discuss appropriateness of each strategy to business expectations in terms of		r Yes r No
Production costs		r Yes r No
Promotional costs		r Yes r No
Equipment required		r Yes r No
Staff required		r Yes r No
Training required		r Yes r No
Expected outcomes		r Yes r No
Implementation summary		r Yes r No
Outline required business resources for each proposal		r Yes r No
Production costs		r Yes r No
Promotional costs		r Yes r No
Use language that achieves the following
Impact – attention grabbing, stopping power		r Yes r No
Interest – Holding power, keeping attention		r Yes r No
Memorable – Sticking power		r Yes r No
Clarity – single minded, focused		r Yes r No
Organisation – ordered and logical structure		r Yes r No
Embracing – culturally appropriate		r Yes r No
Rank each marketing opportunities appropriately		r Yes r No
Allow opportunities for questions		r Yes r No
Answer questions appropriately and professionally		r Yes r No
Provide handouts for the client that are professional, accurate and hold appropriate impact		r Yes r No
Written proposal attached		r Yes r No
Presentation observed		r Yes r No
Handouts attached		r Yes r No

ASSESSMENT 2 – WRITTEN ASSESSMENT /  PROJECT

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