Recent Question/Assignment

[ Assessment Task 1
Part A: Identify New Marketing Opportunities
Description:
As businesses are constantly being influenced by changes in their external (e.g. market, competition, politics, technology) and internal (e.g. resources, management, culture) environments, marketers need to simultaneously understand the prevailing marketing environment and modify their marketing plans so as to maximise opportunities and minimise threats.
Marketing is defined as -the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (AMA). In other words, marketing is the process of identifying, anticipating and satisfying customer requirements.
In this assessment task, you will assume the role of a marketeer working for a government tourism agency responsible for marketing the state (or a city) to domestic and international audiences (For example, Tourism Victoria, promoting Victoria as an investment and a tourist destination). The state government has invested in a new city precinct comprising of social, cultural, entertainment and sporting venues close to the city centre. You have been asked to identify new marketing opportunities in Australia or overseas for promoting the new precinct.
You are required to;
^ Articulate precincts marketing needs (what needs to be promoted)
^ Develop marketing goals and objectives (what needs to be achieved)
^ Research target markets and choose one specific market for this task
^ Identify and describe target audience (e.g. institutions, people or groups)
^ Assess opportunity to access the market
^ Identify and describe three key marketing opportunities in the target market
^ Explain the applicable legal requirements
Potential opportunities may include, but are not limited to, event hosting, sponsorship, investment, strategic
partnership, cultural exchange and tourism. You will need to present this information in a written paper
appropriately structured and formatted as a formal document.
Assessment Criteria
The following assessment criteria will be used for marking this assessment task. Ensure that you have
addressed all of the criteria in your work.
^ Described marketing needs of the precinct based on its marketing assets and characteristics
^ Developed marketing goals and objectives that contains measures and timelines
^ Undertook research to identify and evaluate potential markets for marketing opportunities
^ Identified and interpreted market information from a range of diverse markets
^ Identified the most relevant and potential market for the relevant marketing needs
^ Identified and described the target audience for the purpose
^ Listed and described marketing opportunities in the target market(s)
^ Marketing opportunities are realistic and reflective of a real-life situation/context
^ Marketing opportunities are relevant and within the context of the task
^ Researched legal information and identified applicable legal requirements
^ The document is appropriately structured and reflects a formal style suitable for corporate purpose Please note, all external sources must be cited and appropriately referenced using Harvard Referencing System. Links to the same are provided in the learner resources section of this unit. Further information will provided by your trainer/assessor in the class.
Submission Guidelines
Submit:
^ Written paper with a signed assignment cover sheet.
discretion of the teacnericISSCS)V1 .
Part B: Analyse and Implement New Marketing Opportunities
Description:
Implementing any new initiatives in an organisation may lead to, or require, a change in existing operations and/or marketing methods.
In this assessment task, you will build on the work done in Assessment Taskl, Part A and develop an implementation plan for implementing the new marketing opportunities under the same role. An essential part of implementation would be to align new opportunities with organisational goals and capabilities. As the organisation used in Assessment Taskl was fictitious, you will need to first develop a one-page organisational brief as part of this assessment containing organisational goals, profile and role within the state government sector. You may use examples of existing organisations such as Tourism Victoria with appropriate citations and acknowledgements. However, a straight copy-paste will not be accepted (which may also be construed as
plagiarism). You will need to develop the profile in your own words. Your teacher/assessor will play the role of the Marketing Director and provide you with ongoing feedback and suggestions.
Once you have developed a profile;
• Describe how the new opportunities help achieve organisational goals
• Analyse the each of the new opportunity for its impact on the organisation (what changes will they cause/require)
• Describe the required changes and new resources
• Devise strategies for implementing changes (with minimal interruption to existing programs)
• Assess external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity
• Determine marketing activities and resources needs to capitalise on the new opportunities
^ Determine approximate investment/funding requirements (finance needed for marketing or resources)
• Prepare a basic marketing forecast to determine expected return on investment
• Prioritise the new opportunities based on their financial viability
• Explain how the implementation process will be communicated to the stakeholders
As this task requires specific skills and knowledge in marketing forecasting and financial analysis, ensure that you have familiarised yourself with these concepts and practiced them in the class.
You will need to present this information in a written paper appropriately structured and formatted as a formal document.
Assessment Criteria
The following assessment criteria will be used for marking this assessment task. Ensure that you have
addressed all of the criteria in your work.
• Developed an organisational profile document based on a research of similar organisations
• Profile contains organisational goals, existing capabilities, role, key stakeholders and scope of
operations
• Explained the relevance and significance of new marketing opportunities in relation to organisational
goals
• Identified the resources required to implement new opportunities
• Identified and described impact of new opportunities on the organisation and its operations
• Described new processes/changes required to implement the opportunities
• Developed appropriate strategies to manage the change process
• Calculated estimated costs of resources and cost to the company in implementing the changes
^ Determined financial viability of each new opportunity based on external factors, cost, benefits, risk and opportunities
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^ Financial viability is prepared and presented in an appropriate format consistent with common financial practices
^ Determined funding/investment requirements based on financial analysis
^ Justified the investment/funding with a forecast of revenues to determine estimated ROl
^ Marketing forecast is prepared and presented in an appropriate format consistent with common financial practices
^ Forecast is error-free, realistic and balanced
^ Prioritised the implementation of opportunities based on their financial viability and return
^ Identified and listed key stakeholders in the project
^ Developed a plan to communicate the changes to the relevant stakeholders
^ Cited all external sources using an appropriate referencing system
^ The document is appropriately structured and reflects a formal style suitable for corporate purpose
Submission Guidelines
Submit:
^ Written paper with a signed assignment cover sheet
Electronic versions of the assessment task and email/electronic submission arrangements are at further
discretion of the teacher/assessor.

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