This assessment addresses the following subject learning outcomes:
a) Identify and evaluate key theories and principles of practical marketing strategies
b) Critically evaluate client needs with regard to the creation of value for the organisation
c) Critically evaluate the impact of the application of the marketing mix to the target market
Objectives:
• To enhance a clear understanding of the importance of marketing in modern business and to provide a grasp of effective contemporary marketing practices;
• To provide a theoretical overview of marketing theory and practical application of innovative marketing strategies;
• To critically analyse all relevant factors affecting the exchange process.
How the assessment fits into the subject/course:
Marketing in the 21st Century has drastically evolved and is a critical component of business administration. The design of marketing plans is integral to business organisation and the assessment for this subject aims to provide students with the opportunity to apply the knowledge of developing effective marketing strategies. This assessment requires the students to analyse market trends before developing a marketing strategy. There is a short scenario for students to address the assessment tasks.
Linkages between Assessments 1 and 2:
Assessment 1 requires students to create a case study and review marketing plans. Specifically, assessment 1 requires students to establish the context through analysing market trends. Assessment 2 requires students to devise a marketing plan of products or services offered by their own organisation and to consider how the marketing plan will add value to their organisation.
Instructions:
This assessment task requires you to develop a Marketing Environmental Analysis. A Marketing Environmental Analysis of the microenvironment and macro environment is key to understanding the possible impact of any external local, national or international factors on a small business. These factors tend to be outside a business owner’s direct control, however, as you have seen, business and marketing strategies can be modified to take advantage of the opportunities they present while also minimising any potential threats.
Therefore, in this assessment task you will need to:
• Demonstrate your learning about marketing concepts and principles covered so far and allow yourself to demonstrate your level of understanding of them.
• Analyse the link between marketing practice and marketing theory
• Demonstrate research skills to reveal the insights
• Apply appropriate business report writing skills
• Use the appropriate citation of references and a reference list in your written work. It is essential that you use the appropriate APA style for citing and referencing research. Please see more information on referencing here: http://library.laureate.net.au/research_skills/referencing
• Practise aligning strategies to your market analysis
Scenario:
Donald B is a chocolate product maker and owns two stores in Melbourne. He wants to grow his brand nationally and internationally and compete with larger rivals producing cocoa product, confectionery, crystallised or glazed fruit, drinking chocolate, liquorice, marshmallow, candied nut, candied popcorn, etc. He has also considered selling through Coles and Woolworths, Aldi options or creating high-end specialty stores.
Tasks:
You will be writing a report for Donald’s company. For this assessment, your report should contain the following elements:
1. Discuss the buyer behaviour in relation to chocolate products
2. Analyse the microenvironment (the relevant publics, the suppliers and the marketing
intermediaries).
3. Summarise the likely competitors, what they offer and who they seem to target
4. Analyse the macro environment. What are the society-wide influences on chocolate products? Are there demographic, economic, natural, technological, political, or cultural trends that have, or will, affect fast food consumption?
Note: Take the time to find good quality references to support your ideas, suggestions and explanations using marketing theory in your report. Use headings/sub-headings, as you must write a formal document.
