Identify Marketing Opportunities
Student Details
Student Name
Student ID
Unit and Assessment Details
Assessment Title Assessment 1 – Identify opportunities
Unit/Cluster Code BSBMKG501
Unit/Cluster Title Identify and evaluate marketing opportunities
Course Code - Title BSB50215 –Diploma of Business
Assessor Name Jasleen
Assessment Date/Due Date Submission: Thursday week 8
Assessment Instructions for Students
1. This assessment involves two (2) tasks.
2. This assessment is to be completed over a period of 7 weeks. Refer to due date above.
3. If you require any clarification or support to complete this assessment, ask your assessor.
4. For a satisfactory result in this assessment, you must successfully complete ALL tasks to a satisfactory standard.
5. Your assessor will assess you individually for each assessment task in this assessment.
6. Support is available for students with special needs or learning difficulties. If you require any support or modified equipment to complete this assessment, please ask your assessor.
7. Make sure you complete and attach an Assessment Cover Sheet on top of your assessment submission.
8. Make sure you check grammar and spellings in your assessment work before submission.
9. You must submit all completed assessment work to your assessor by assessment due date.
10. You must keep a copy of all submitted work.
Required Resources and Tools for this assessment
Following resources and tools required to complete this assessment will be available to you at the time of assessment:
2. Computer Lab (Computers, Word processing software such as MS Word, Internet access)
Performance objective
The candidate must demonstrate ability, knowledge and skills to undertake an analysis of the market environment of an organisation to develop organisational marketing objectives. This involves reviewing the organisation's internal and external environments, evaluating past and current marketing performance, and exploring and evaluating new marketing opportunities.
Assessment description
You will analyse a real organisation to identify two marketing opportunities, research potential new markets, assess opportunities with respect to contribution to the business, and explore innovative approaches. You will then prepare a brief presentation for the stakeholders (assessor) to support and explain the two marketing opportunities you have identified.
You may base your analysis and report on an organisation you are familiar with, such as current or previous employment, and from which you can access organisational strategic and marketing plans to identify and evaluate marketing opportunities.
You need to identify and evaluate two opportunities for your chosen organisation and explain the opportunity to your peers in a 15-20minute presentation.
Research Report Requirements
Task 1:
1. Choose an organisation to analyse and identify two (2) marketing opportunities for the organisation you have chosen. To identify opportunities, analyse information on your chosen organisation’s market and business needs, for example:
• Comparative market information
• Competitors performance
• Customer requirements
• Legal and ethical requirements
• Market share
• Market trends and developments
• New and emerging markets
• Profitability
• Sales Figures
2. Research potential new markets for the organisation like export markets or segments of the market not currently penetrated. Consider strategic marketing approaches such as: Increasing market share, developing new marketing, developing new products, diversification.
3. Using a suitable methodology, such as GAP analysis, market or marketing analysis or competitor analysis, identify and decide on two marketing opportunities to focus on and investigate further.
In your analysis, consider types of markets and aspects of the marketing mix such as distribution, products and types of promotional activities, for example:
• E-commerce
• Business to business marketing
• Direct marketing
• Ideas marketing
• Marketing of goods
• Public sector marketing
• Services marketing
• Telemarketing.]
4. Estimate the effect of two marketing opportunities for example:
• Effect on sales volume
• Growth
• Market share
• Profitability
5. Use numerical or statistical analysis to forecast the effects of these opportunities on the organisation that you have chosen.
6. Explore and develop entrepreneurial, innovative or creative options (one for each opportunity) to apply the marketing opportunities in context of the organisation.
For example, if you identify e-commerce opportunity, determine how to apply the e-commerce opportunity to the organisation including aspects such as media, web-design to appeal to target markets, integration with existing operations, marketing strategy and overall strategic directions.
Task 2:
Prepare a 15-20 minute presentation for marketing peers (assessor) explaining and supporting the two marketing opportunities you have identified. Ensure you complete the following:
1. Describe two marketing opportunities and how you identified them. Describe the process you undertook to analyse your organisation to identify the marketing opportunities. Refer to current organisational marketing plan and products/services.
2. Support your choice of marketing opportunities with reference to market information such as market trends and sales figures. Include relevant statistics.
3. Describe the effect of opportunities on the business, for example:
a. Sales volume
b. Growth
c. Market share
d. Profitability
Note: You must use evidence to support your assertions, such as:
a. refer to quantitative or qualitative data
b. show/use results of statistical methods of forecasting demand
c. show results of break-even or profit analysis
4. Describe innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organization. Refer to aspects of the marketing mix, i.e., product, price, promotion, place (distribution). Refer to principles of marketing that apply to your approaches to realizing the proposed opportunities.
Presentation Specifications:
1. Use appropriate language and level of formality to satisfy needs of your audience.
For example:
a. Professional but semi-formal language
b. Technical vocabulary, potential need to define more obscure marketing terms or statistical methodologies.
c. Assume no knowledge of specific organisational policies or marketing strategies.
d. Be prepared to answer questions
e. Provide for response and feedback.
2. Prepare and keep presentation notes and other materials used in the presentation such as PowerPoint slides and handouts.
Submission Requirements
You must submit the following:
1. A detailed research report on newly identified marketing opportunities.
2. A 15-20minute presentation
3. Presentation notes and other material used in presentation such as handouts and PowerPoint slides.