Bsbmkg609 Develop A Marketing Plan Assessment Answers

In order to expand into other countries, list five (5) examples of marketing opportunity which you could research which could lead to the growth of your business? 

List three (3) marketing strategies you could develop that would address the strengths and opportunities within your organisation’s project capabilities and resources?

Explain why it is important to develop feasible marketing strategies and why you should justify your selection?

If you were to develop a marketing performance review strategy, explain what this would involve?

When developing tactics, you need to ensure that it meets legal and ethical requirements. Explain what this may include?

When developing a marketing plan, it is important that you as a senior manager must ensure that your marketing plan meets your organisational, as well as marketing, objectives and incorporates marketing approaches and a strategic marketing mix.  Explain what does marketing approaches and strategic marketing mix mean?

Marketing approaches  

Strategic marketing mix 

Explain why you need to involve all relevant stakeholders when developing a marketing plan?

Explain the objectives of the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice and how it can have an impact on your business.

As a senior marketing manager, you must be familiar with relevant legislation you need to comply with.  Research the five (5) legislations below, you need to be familiar with and  explain each legislation and how it would relate to your role?

If your work is marked as Not Satisfactory you will be provided with feedback from your assessor and then given time to complete the task. Your assessor will provide you with a timeline in which you will be required to submit your task. Resubmission timeline will be determined by the assessor and based on the extent of the re-submission.

When you have completed all tasks in this document you will be granted an overall competency outcome, which will be either Competent or Not Yet Competent.

If your work is marked as Not Yet Competent you will be asked to resubmit the assessment tasks as indicated by your assessor. You will not be able to gain competency if any of your tasks are not fully completed.

Assessment Appeals Process

If you are dissatisfied with the outcome of one of the assessment tasks or the final outcome of the assessment task because you feel that the result is unfair or incorrect, you may request to have the task/s or overall assessment task reviewed.  If you are still dissatisfied with the outcome, you may lodge a formal assessment appeal. Refer to SBTA’s Complaints/Appeals Policy and Procedure.

This unit describes the skills and knowledge required to research, develop and present a marketing plan for an organisation.

It applies to individuals working in senior marketing positions who are responsible for formulating a marketing plan by developing specific marketing strategies and tactics in accordance with the organisation’s overall marketing objectives. Individuals operating at this level may receive input from people working under their supervision who collect information required to devise specific marketing strategies and tactics.

Assessment matrix

The tables below demonstrate how all assessment tasks in this assessment pack contribute to the outcomes of your learning and assessment activities.

ELEMENTS BSBMKG609 Develop a marketing plan PERFORMANCE CRITERIA ASSESSMENT TASKS

1. Devise marketing strategies 1.1-1.6 Task 1, 2, 3
2.  Plan marketing tactics 2.1-2.5 Task 1, 2, 3
3. Prepare and present a marketing plan 3.1-3.4 Task 1, 2, 3

Performance Evidence devise, document and present a marketing plan including:

• evaluation of marketing opportunity options
• marketing strategies that utilise existing strengths and opportunities and develop resources and expertise as needed to meet objectives
• marketing tactics that are legal, ethical, achievable and can be reviewed
• costs, scheduling, responsibilities and accountabilities for tactics
• strategic use of marketing approaches and marketing mix
• rationale for objectives and chosen strategies and tactics
• adjust marketing plan in response to feedback from key stakeholders and disseminate for implementation. Task  2, 3

Knowledge Evidence summariseorganisational structure, products and services and overall strategic and marketing objectives outline common marketing opportunity options including:

• strategic alliances and cooperative business models
• new products or services to target specific markets
• greater market penetration with existing products or services
• take-overs
• new businesses and franchising
• other options relevant to the organisation
• outline common marketing strategies and marketing approaches
• explain processes to ensure marketing strategies, approaches and marketing mix align to organisation’s objectives and are legal, ethical and achievable
• outline the legislative and regulatory context of the organisation as relevant to the marketing plan. Task 1, 2, 3

Foundation Skills   Writing, Oral communication, numeracy, navigate the world of work, interact with others, get the work done Task 1, 2, 3

Dimensions of Competency Task skills, task management skills, communication management skills, analysis & problem solving skills Task 1, 2, 3

Read all the questions below in class with your colleagues and your trainer and assessor, and provide answers to each question below.

Answer guide: This assessment task is to be typed with 2-3 paragraphsminimum per question unless indicated otherwise i.e. list or select

You are a senior Marketing Manager for Global Enterprises.  Your organisation is exporting widgets to the European market.  Your organisation’s objective is to expand your trade to other countries and to increase the sales to the European market as well.  

Your role as the Senior Marketing Manager is to conduct research and establish how you are going to achieve your organisation’s objectives

1.1.In order to expand into other countries, list five (5) examples of marketing opportunity which you could research which could lead to the growth of your business? 

1.Technology advancement

2.Competitors level

3.Demand of the product

4.Logistics convenience

5.Cross cultural management

1.2.List three (3) marketing strategies you could develop that would address the strengths and opportunities within your organisation’s project capabilities and resources?

1.Relationship marketing

2.Diversity marketing

3.Online marketing

1.3.Explain why it is important to develop feasible marketing strategies and why you should justify your selection?

Feasible marketing strategies are important for the business as it makes it easier for the marketing managers and the business to meet the goals and the objectives of the business easily. It investigates the strategies, ideas, business, campaign etc of the business in an effective way so that the implementation could be impressive.

Feasible marketing strategies have been used in the given case to meet the goals and the objectives of the business easily.

1.4.If you were to develop a marketing performance review strategy, explain what this would involve?

If in the given case, if a marketing performance review strategy is developed than the following factors are required to be involve for a better study and the performance which are as follows:

1.Assesses the core activities of the business

2.Assess the business efficiency of business

3.Review the financial position of the company

4.Conduct a new analysis on the competitors business

5.Conduct the market analysis and the customer analysis

6.Models for the strategic analysis

7.Strategic review etc.

1.5.When developing tactics, you need to ensure that it meets legal and ethical requirements. Explain what this may include?

The tactics of marketing plan must always be prepared by the business after considering and managing all the related aspect of the business. The following topics  must be covered while preparing the tactics for the ethical and legal requirements of the business:

Truth in the content and the communication of the business

Organizational policy and procedure

State legislation and regulation

Professional ethical standards

International treaties and conventions

Commonwealth legislation etc.

1.6.When developing a marketing plan, it is important that you as a senior manager must ensure that your marketing plan meets your organisational, as well as marketing, objectives and incorporates marketing approaches and a strategic marketing mix.  Explain what does marketing approaches and strategic marketing mix mean?

Marketing approaches Market approach is a process to evaluate the appraisal value of the assets which is mainly based on the selling price of the substitute products or the similar products. It is a business valuation model which is used by the marketing manager of the company to evaluate the worth of the business.

As a senior manager, it becomes important for the manager to evaluate the related aspect and the business valuation to meet the objectives and the goals of the business.

Strategic marketing mix Marketing mix is the action which is taken by the business to sell the services and the product to make a contribution in the total turnover of the company. Marketing mix includes product, price, place and promotion.

As a senior manager, it becomes important for the manager to evaluate the marketing mix to meet the objectives and the goals of the business.

1.7.Explain why you need to involve all relevant stakeholders when developing a marketing plan?

Stakeholders are the organizations, individuals and other parties which impact on a business. Stakeholders of a business could be investors, suppliers, customers, bank, financial institution etc. It is important to involve all the stakeholders in the business plan to enhance the overall position and the performance of the business plan. They affect the entire objectives, actions and the policies of the business. Involvement of all the parties would reduce the risk level of the business.  

1.8.Explain the objectives of the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice and how it can have an impact on your business.

ADMA has administered a code of practice in order to direct marketing that all the members of ADMA must abide at the time of conducting direct marketing campaigns. The direct marketing is the part of good laws and goods and services of the company.

A business could be impacted by the ADMA at a huge level. It would assist the business to enhance the overall operations and the performance of the business at market.

1.9.As a senior marketing manager, you must be familiar with relevant legislation you need to comply with.  Research the five (5) legislations below, you need to be familiar with and  explain each legislation and how it would relate to your role?

1 Anti-discrimination Anti discrimination law explains that the right of an individual must be treated equally, Few of the countries mandate it in the employment, in the consumer transactions, political participations etc,

This rule must be followed in the business to maintain the dignity and the performance of the business.

2 Australian E-Commerce Best Practice Model These are the standards which protects the customers in e – commerce. It offers the industry groups and the individual business along with voluntary model code of conduct which would help the business to set up the e-commerce business effectively.

3 Confidentiality requirements Confidentiality is the protection of all the personal information. It means keeping the information of client among the business and the civet itself. It must be followed by the business to manage the proper business. It would help the business to manage the loyalty and goodwill in the market.

4 Copyright laws Copyright is the bundle of rights which must be taken and followed by the business to manage the proper functions. It would help the company to save itself from any issues.

5 Trade Practices Act Trade practices act is a competition and consumer act which describes that the trade must be legal and ethical. It would help the company to save itself from any issues. 

1.10.Once you have received feedback on your marketing plan, explain how you would communicate the changes to all relevant stakeholders.

Once the entire feedback about the marketing plan has been received, the changes and the other information could be communicated with the stakeholders of the company through organizing a meeting or an event in which all the details would be given to the stakeholders of the business about the business plan and the implementation of the plan.