BSBMKG501 Identify and Evaluate Marketing Opportunities

There are two parts to this assessment task. Part A requires you to identify and evaluate two opportunities for your chosen organisation. In part B, you will explain the opportunities.

Part A

Part A requires you to identify and evaluate two opportunities for your chosen organisation.

1.Choose an organisation to analyse. Identify two marketing opportunities for the organisation you have chosen.

To identify opportunities, analyse information on your chosen organisation’s market and business needs, for example:

a.comparative market information
b.competitors’ performance
c.customer requirements
d.legal and ethical requirements
e.market share
f.market trends and developments
g.new and emerging markets
h.profitability
i.sales figures

2.Research potential new markets for the organisation, for example:

a.export markets
b.segments of the market not currently penetrated
c.Consider strategic marketing approaches such as:
i.increasing market share
ii.developing new markets
iii.developing new products
iv.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:

a.ecommerce
b.businesstobusiness marketing
c.direct marketing
d.ideas marketing
e.marketing of goods
f.public sector marketing
g.services marketing
h.telemarketing.

4.Estimate the effect of the two marketing opportunities on the business, for example:

a.effect on sales volume
b.growth
c.market share
d.profitability.
5.Use numerical analysis or statistical methods to forecast effects. For example, use the least squares method to estimate demand. Use estimated demand to calculate effect on sales and profitability.

6.Explore and develop entrepreneurial, innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organisation.
For example, if you identify an 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.

Part B

Presentation for marketing peers 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.

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.

2.Describe innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organisation. 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 realising the proposed opportunities.

3.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.
4.Prepare and keep presentation notes and other materials used in the presentation such as PowerPoint slides and handouts.
5.Deliver your presentation as per specifications (below).
6.Submit presentation notes, PowerPoint slides, etc. to your assessor. Keep a copy of all documentation for your records.