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Assessment Task 1: Identify and investigate marketing opportunities project

About your assessments:

BSBMKG501 Identify and evaluate marketing opportunities, this unit requires that you complete 3 assessment tasks.

You must complete all tasks to achieve Competency for this unit.

Write in the due date as advised by your assessor.

Assessment Task	About this task	Due Date
Assessment Task 1: Identify and investigate marketing opportunities project	You must identify a business, review its Marketing Plan, conduct research on the market and investigate marketing opportunities.
Assessment Task 2: Evaluate and report marketing opportunities project	You must evaluate and report on three identified marketing opportunities.
Assessment Task 3: Written questions	You must correctly answer all 10 questions to show that you understand the knowledge required of this unit.

Task summary:

This assessment requires you to conduct research and an analysis to identify the marketing opportunities, and investigate and report on those opportunities

What do I need in order to complete this assessment?

· Access to a computer with Microsoft Office or similar program

· Access to the Internet for research.

When do I do this task?

· If you are a class-based student you will do this task in the classroom as part of the simulated work environment.

· If you are a workplace-based student you will do this task during a workplace visit from your assessor.

what do I need to submit?

· List of potential marketing opportunities

· Analysis report of three marketing opportunities with a recommended order of priority.

How to submit your assessments

When you have completed each assessment task you will need to submit it to your assessor.

Instructions about submission can be found at the beginning of each assessment task.

Make sure you photocopy your written activities before you submit them – your assessor will put the documents you submit into your student file. These will not be returned to you.

Assessment Task Cover Sheet

At the beginning of each assessment task, you will also receive an Assessment Cover Sheet. Please fill it in for each task, making sure you sign the student declaration.

Your assessor will give you feedback about how well you went in each task, and will write this on the Assessment Cover Sheet.

Assessment appeals

You can make an appeal about an assessment decision by putting it in writing and sending it to us. Refer to your Student Handbook for more information about our appeals process.

what do I need to do if I get something wrong?

If your assessor sees that you have not demonstrated the required skills/techniques and have not been marked as satisfactory; you will be provided with an opportunity to redo the parts of the task that are incorrect. The details of resubmission will be discussed directly with you.

‘This is a modified document based on materials prepared by Eduworks Resources.’

Instructions:

Read the information below and complete the activities that follow.

This assessment task requires you to identify and evaluate marketing opportunities for a company of your choice. You will need to identify the company and access its marketing plan. The marketing plan must include sufficient information in order to be able to complete this assessment; this means the marketing plan must include business goals, target customers, marketing/branding strategy, sales forecasts and marketing budget. You may access your chosen company's marketing plan personally or via an Internet search. If you are not able to find a plan with sufficient information you may select one from this site http://www.mplans.com/ Before you start the assessment task, you should discuss your choice of company with your assessor who will need to approve your choice before you start the assessment project. For the purposes of this assessment, assume that you are the Marketing Manager of your chosen company and that your assessor is the Managing Director. Assume that the location of the business is in the city or suburb you are living in.

1 After reading and becoming familiar with your marketing plan, explore creative and innovative ideas and conduct research relevant to the business’ products and/or services, potential new and emerging market competitors and any other factors you deem relevant, to prepare a list of potential marketing opportunities.

2 Based on your review of the marketing plan and research, identify three potential marketing opportunities for the company. Investigate these opportunities in detail with the intention of developing a report and suggesting an order of priority based clearly on their viability and contribution to the business. Later you will need to present your recommended priorities to the Management Team for consideration.

Analyse and evaluate the following for each potential opportunity:

Alignment with the company's objectives and goals and the objectives and goals described in the Marketing Plan

Target customers for each opportunity. Identify if they are they new or existing customers

Overall benefits to the business of pursuing the opportunity

Anticipated effect of the marketing opportunity on sales, profitability, growth and market share. A cost-benefit analysis or existing data in the Marketing Plan could be used to help you estimate this

Estimated effect on return on investment. This should be an approximate estimate taking into account how much the likely cost of the opportunity would be against anticipated return. Use the information in the Marketing Plan to help you answer this

Potential competitors – these may be existing competitors or new ones depending on the marketing opportunity

How any changes in economic conditions could impact on the marketing opportunity

Technological factors that may affect the marketing opportunity

Legal issues associated with the marketing opportunity

Risks associated with the marketing opportunity. A risk assessment must be completed for each opportunity

3 Develop your report addressing all of the points above and your recommended order of priority. As an introduction to your report provide an overview of the company (their structure, products and services), their business objectives and marketing plan (strategies, target market, etc.). Ensure your report is professional presented and error free.

4 Submit your list of original ideas from question 1 and your report in an email to the Managing Director (your assessor). The Managing Directory will provide feedback and give approval for you to present your marketing opportunities to the Management Team.

End of Assessment

Clinton Education Pty. Ltd. T/as Clinton Institute

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