Assessment 3: Practical- Evaluate marketing opportunities
Unit and Assessment Details
Assessment Title Practical- Evaluate marketing opportunities
Unit/Cluster Code BSBMKG501
Unit/Cluster Title Identify and Evaluate Marketing Opportunities
Course Code Title BSB50215 Diploma of Business
Assessor Name Amelia Bailey
Assessment Date/Due Date Refer to Unit Outline
Assessment Instructions for Students
1. This assessment involves two (2) tasks.
2. This assessment is to be completed over a period of last six (6) sessions in business/classroom environment.
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. Plagiarism, collusion and cheating are strictly prohibited [see NIT Student Handbook Section 13.10].
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 check grammar and spellings in your assessment before submission, specifically using tools such as Grammarly or spellcheck.
8. You must submit the completed assessment to your assessor by the above specified assessment due date.
9. You must keep a copy of all submitted work.
10. Assessments will not be considered for marking unless they are correctly formatted to academic standards (please see below criteria).
Please ensure all assessments are formatted using the criteria below:
a. Unit Code Unit Name
b. Assessment Number
a. Student Name
b. Student ID
c. Page Numbers
3. Font: Times New Roman
4. Font Size: 12
5. Headings: Bold (to distinguish from the rest of the document).
6. Spacing: 1.5
7. Please use the following naming convention when saving and submitting your assessments:
a. First Name _Student ID_Unit Code_Assessment Number
Required Resources and Tools
The following resources and tools are required to complete this assessment and will be made available to you at the time of assessment:
1. Computer Lab (Computers, Word processing software, Internet access)
2. Business Scenario Documents
You are marketing manager at Vogue Lighting. You have been asked to evaluate three marketing opportunities that have been identified, rank them in terms of viability and likely contribution to the business, and assess the impact of the top-ranked opportunity on operations. You will then prepare a report for the board of directors documenting identified marketing opportunities and required changes.
Task 1: Create a Report
Task 1 requires you to prepare a report for the board of directors documenting identified marketing opportunities and required changes.
NOTE: Your report must have a structure and layout reflecting real workplace practices.
Your report must include:
B. Analysis of the three opportunities outlined in the scenario in terms of likely fit with organisational goals and capabilities. Also consider:
• Vogue Lighting’s marketing plan, structure, products and services (Appendix 1)
• marketing mix (Appendix 1)
• additional marketing information such as survey results in the Vogue Lighting sales data worksheet. (Appendix 2)
C. Evaluation of opportunities: Evaluate each opportunity in terms of impact to current business and customer base. Evaluation should include investigation of:
• sales volume for each opportunity in FY 2017/18
• gross and net profit for each opportunity FY 2017/18
• use numerical analysis or statistical methods to forecast, for example, the size of potential markets in FY 2017/18.
• Consider also: impact on growth plans, market share, knockout factors to rule out opportunities.
D. Review of external factors: Assess external factors which may be relevant to each opportunity using a suitable methodology such as SWOT analysis, competitor analysis or market analysis. Also consider:
• codes of practice and models
• relevant legislation.
E. Risk Management: Referring to Vogue Lighting business documentation, summarise major costs, benefits and risks associated with each opportunity, including risks associated with potential competitors. Identify at least two strategies or approaches to mitigate risk.
F. Ranking: Calculate the return on investment for each opportunity. Calculate the profitability index for each opportunity.
Based on your analysis so far, rank each of the three marketing opportunities. Justify your ranking in terms of both financial and non-financial factors (such as organisational fit).
G. Changes in current operations: Using information from the Vogue Lighting sales data worksheet, for the top-ranked marketing opportunity, identify changes to current operations in order to take advantage of the opportunity. Ensure changes identified are adequate to:
• service an increased or different customer base
• provide continued quality of service.
H. Resource Requirements: Using information from the Vogue Lighting sales data worksheet, estimate and justify resource requirements and costs for changed operations. Consider:
• additional staff
• distribution costs
• promotional costs
• staff training.
I. Conclusion: Brief conclusion of your report, discussing viability of proposed changes.
Insert your report here.
Task 2: Send Report
Task 2 requires you to email your report to Board of Directors (Assessor) for approval. Attach a screenshot of email sent. Ensure you have a right subject, content and attachment in the email.
Insert your report screenshot here.
End of assessment.