Student Assessment Workbook

BSBMKG501
Identify and Evaluate Marketing Opportunities

Version 1.0
November 2016

Student Full Name:

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Assessment Information
Welcome to your Student Assessment Workbook for BSBMKG501 Identify and Evaluate Marketing Opportunities.
This Student Assessment Workbook is where you will write all your responses for the knowledge questions and
simulation tasks. Please refer to the Student Assessment Guide for more information.
This assessment has the following two events:

Assessment Event 1 – Knowledge Questions:

There are three questions that will provide us with evidence of your general knowledge of legislative
requirements in marketing operations, principles of marketing and marketing mix, and statistical techniques to
evaluate marketing opportunities.

Assessment Event 2 – Simulation: Emu Fitness

You will complete a number of tasks that will provide us with evidence of your skills with reviewing then planning
the implementation of marketing opportunities within the fitness industry. These tasks will be based on your role
as a Marketing Specialist in a simulation with an organisation called Emu Fitness that operates in the fitness and
health sector.

To complete the Simulation, you will need to refer to the following resources:

Strategic Marketing Review This document is used in Task 1.1 where you will review the current market and
potential opportunities.

ROI and Cost Template Excel template used in Task 2.3 where you will calculate the probable return on
investment for each of your proposed marketing opportunity.

Please note that your responses for both assessment events can (where appropriate) use dot point format. See
below an example of a dot point response and a full sentence response.
Dot point format Presentation Plan includes the following:
 outcomes
 needs of the audience
 context.

Full sentence format When you are preparing for a presentation, there are a number of tasks that must be
carried out. These are listing the outcomes that you want to achieve, followed by the
identification of the needs of your audience. When you have completed these two tasks
you then check on the room that you will be conducting the presentation in.

To Achieve Competence
To be deemed competent for this unit, you will need to meet the following requirements:
 complete all of the questions and tasks listed in the Student Assessment Workbook
 meet all the requirements listed in this Student Assessment Guide
 your responses to the questions and tasks must be relevant, accurate and specific
 submit your completed Student Assessment Workbook to your Assessor within the set timeframes
 your work must be in your own words
 where you use an external source of information, you must provide citation.

BSBMKG501 Student Assessment Workbook | Student ID: Page 1

BSBMKG501 Student Assessment Workbook | Student ID: Page 2
Pre-assessment Checklist
Your assessor will go through the assessment for this unit, BSBMKG501 Identify and Evaluate Marketing
Opportunities. It is important that you understand this assessment before taking on the questions and tasks. To
confirm that you have been given this overview, we ask you to complete the following Pre-Assessment Checklist.
You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm your
understanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason under the
‘Comments’ column.

When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that your
Trainer/Assessor has discussed all of the information with you prior to undertaking this assessment.

Pre – assessment Checklist Comments

Y N I, the student, understand the purpose of the assessment.

I understand when and where the assessment will occur, who will
Y N assess and in what format the assessment will be submitted.

Y N I understand the methods of assessment.

I understand what resources are required to complete this

Y N assessment.

I understand the performance level required for each assessment

Y N event.

I understand that it must be my own work. I have been explained

Y N and understand the serious consequences in case this work is found
plagiarised.

Y N I understand the process if I am deemed not yet competent.

Y N I understand the feedback process and the appeals process.

The assessor has discussed with me if I have any special needs and if
Y N so what arrangements have been made.

Student Full Name Student ID Student Signature Date

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Assessment Event 1 – Knowledge Questions
The information contained in this assessment event lists the questions that you will need to develop a written
response. These questions are theoretical and provide evidence of your understanding of legislative requirements in
marketing operations, principles of marketing and marketing mix, and statistical techniques to evaluate marketing
opportunities.
Note you must answer these questions in your own words. Remember, you must get a satisfactory result with each
question to be deemed satisfactory for the whole of Assessment Event 1.

Question 1
Outline key provisions of relevant legislation, codes of practice and national standards affecting marketing
operations.
Write your response into the table:
Legislation/Codes/Standards Summary of Key Provisions

1. Anti-discrimination legislation and
the principles of equal opportunity,
equity and diversity
2. Marketing codes of practice and
conduct
3. Health and safety legislation
(OHS/WHS)
4. Privacy Act
5. Advertising Standards Bureau (ASB)
6. The Australian Direct Marketing
Association (ADMA)
7. Trade Practices Act
Ensure that no racial prejudice or misconduct happens to any
employee or prospective employee. Employees in the whole
organization are being urged to take meaningful steps and facilitate a
fair opportunity.
A collection of standards for advertisers to reduce the likelihood of
violations of regulatory legislation and to encourage a code of good
conduct are commercial strategies as defined in the ADMA
(Association for Data-driven Marketing & Advertising).
Occupational wellness covers all facets of workplace health and safety
and relies primarily on key risk reduction.
Australia’s statutory statute on personal information security is
utilized by federal departments of the Federal and ACT states.
Including the freedom to access and correction to personal details for
persons.
Tests the media self-regulation system’s grievances settlement
mechanism. Our goal is to be Australia’s first authority to manage
advertisement and brand campaigns grievances.
The primary goal of ADMA is to support businesses to produce
positive campaign performance by leveraging targeted
communication in a professional manner.
The aim is to establish a healthy and sustainable market climate for
firms. This involves antifreezing activity, setting costs, irrational
actions and other things such as attention.

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Question 2
Explain principles of marketing and marketing mix.
Write your response into the table:
Principles Explanation of the marketing mix Industry-specific example
The company has to reach or be so convincing that
Market goods should be defined as items that
customers conclude that it has market demand.
Product are very small shopping activities for which
Many promotional choices must be taken before a
customer purchases are able.
publicity campaign is written up.
The price shall be the sum charged or expected to
Some retailers, such as Wal-Mart, tend to focus
be paid by the buyer for good. Price expense,
on constantly low prices without real sales.
advertisement, and promotion expenses, the
Price Instead, there are other retailers with prices
volatility of consumer rates, production costs, etc.
that are a little higher if not discounted. Normal
are a significant element of pricing. Competitive
purchases are balanced by cuts in costs.
pricing is another important factor.
Marketers have to determine if their goods and
Integrated Communication on Advertising
services should be marketed. This includes
involves the concept of integrating the
Promotion marketing, commercials and web promotions. TV,
marketing activities of a organization such that
radio , print media and billboards are traditional
the maximum overall results are obtained.
methods of publicity.
Breaking bulk — consumers can purchase small
Marketers will decide which specific sales amounts at a time. Small and small dealer. A
networks they are utilizing to market their goods library, for example, may buy small amounts.
Placement
and services. This involves through physical This program eliminates quantity differences
locations and websites to market their goods. between suppliers and consumers in supply-
demand ties.

Question 3
Describe statistical methods and techniques, including forecasting techniques, to evaluate marketing opportunities.
Write your response into the table:
Statistical techniques and methods
1. Multiple Regression
2. Logistic Regression
3. Discriminant
4. Multivariate Analysis of Variance
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Industry-specific example
The most commonly used multivariate technique is multiple regression.
It examines the connection between a single dependent metric variable
and two or more independent metric variables. The algorithm uses the
linear relation with the lowest number of square variances to evaluate
definitions of normality, linearity, and equal variance.
Often named “option models,” this approach is a multiple regression
variant that helps the occurrence to be forecast. This is important to use
nonmetrical dependent variables since the goal is to test a binary option
probabilistically. The separate variables can be discreet or continuous.
The aim is to categorize observations or persons into homogeneous
groups correctly. The objective variables will be linear and have a
minimum specification. The discriminant analysis generates a linear
sorting method and then characterize the statements.
This approach explores the relation between several independent
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 Statistical techniques and methods
5. Factor Analysis
6. Cluster Analysis
7. Multidimensional Scaling
8. Correspondence Analysis
9. Conjoint Analysis
10. Canonical Correlation
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Industry-specific example
categorical variables and two or more contingent metrics. In comparison,
variance analysis evaluates the differences within classes.
This is a strategy of equality, with no predictor based. The analyst then
looks for an original data matrix form. The independent variables are
ideally normal and continuous, with a factor of at least three to five
variables.
The goal of cluster analyzes is to reduce a wide variety of data to
manageable subgroups. A series of defined properties shall be separated
according to the similarity of the objects. This strategy is a concern for
outliers, often induced by so many unrelated variables.
This is an approach of decomposition that uses perceptual mapping to
show the dimensions. In an exploratory method, unrecognized
measurements of goods and comparable comparisons of goods may be
investigated where the reason for the contrast is unclear.
In this method, an item ranking on a series of attributes is decreased
dimensionally, resulting in a visual chart of ratings. It is a strategy that is
helpful because other characteristics and organizations occur. It is often
helpful. It is more widely used to test marketing promotions efficacy.
It is also a technique of composition and dependency, where a degree of
choice is formed for a mixture of attributes and values. For each level of
each attribute, a part value or utility is calculated, with combinations of
characteristics at specific levels to produce the biggest gains for the
characteristic at all levels.
The technique has the least limitations of any multivariate technique so
that the results are interpreted carefully based on relaxed assumptions.
Often the dependent variables are connected as well as the independent
variables are linked, so it is challenging without a method like canonical
correlation to find a relationship.
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Assessment Event 2 – Emu Fitness Simulation
In this simulation, you will take the role of Marketing Specialist for a fitness and health organisation called Emu
Fitness. In this role, you will show your skills in identifying, evaluating and taking advantage of marketing
opportunities. You will undertake an analysis of the market data and information, review the characteristics and
trends, and then assess the viability of changes to its current operations.

Task 1: Identify marketing opportunities

In this task, you will focus on an analysis of the external market in particular variables such as consumer interests,
technology, competition etc. in an attempt to identify potential marketing opportunities.

1.1 Analyse information on market

Insert your responses into the table:
Macro Facts
1. Demographic Factors
2. Economic Factors
3. Social and Cultural Forces
4. Technological factors
Marketing Opportunities
The wide variety of backgrounds
presents industry prospects as well
as obstacles. The analysis of people
is crucial to advertisers, especially in
times of rapid global population
growth and global demographic
change. This is because
demographic changes mean that
markets are changing.
Factors affecting consumer
acquisition power and spending
patterns relate to the economic
forces. For example, before
examining how many people can be
spent, a company should never start
exporting to a country
Socio-cultural forces are linked to
factors that influence the
fundamental values, preferences,
and behavior of society. The fact
that people belong in a society and
culture group that influences their
convictions and values forms the
basis for these factors.
Throughout the MacroSystem,
special powers are a deciding
power. The forces that develop
emerging innovations and generate
existing commodity and consumer
prospects are included.
Rationale
Demographic strength affects
various segments of the market,
including region, country, age,
education, ethnicity, lifestyle,
cultural standards, and values.
The customer’s internal
development and decision-making
method often have an economic
effect.
The effects of the services and
products of your organization on
society must be taken into account
when there is an aspect that is
detrimental to humanity in the
manufacturing cycle or commodity
so that it can be removed as it is an
organization’s social obligation.
Technological considerations must
be taken into account as
information and expertise employed
in the manufacture of products. The
technologies and resources used in
products and services development
lead to the smoothing of the market

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 Macro Facts
5. Political and Legal Factors
Marketing Opportunities
The political environment is limited
to every business. It involves laws,
policy departments, and stresses.
This affects and restricts institutions
and citizens in society. Marketing
strategies are often highly affected
and guided by international trends.
Rationale
cycle.
Throughout the decision-making
process, the company will take note
of political and legal changes in the
sector and organisation.

1.2 Research potential new markets

Insert your responses here:
EMU FITNESS SIMULATION

1. Size and growth of the opportunity

Emu Fitness is a chain of private health clubs with 15 health clubs and 7,500 active members operating in
Sydney. In the sports and wellness field, Emu Health is a minor participant.

Over the last decade, the sector has expanded significantly, raising $2.2 billion in total sales across 3,265
fitness clubs, and 32,875 workers throughout the nation. Emu Fitness has played an important role in
improving Australians’ health and fitness, although since its foundation in 2005, Emu Fitness has always
struggled to maintain market share. Despite the struggle of the organization, its operating margins are
relatively good, primarily because of its low wages and poor equipment. The business understands well that
strategic strategies need to be established if long-term success is to continue.

Over the past few years, the organisation’s market value has been lost. It has engaged an external company
to conduct some preliminary studies of the organisation. They identified both internal and external problems
affecting the company. Competition always grows as the demand expands. Many internal conditions
influence the organization’s company:

 Bad organizational skills.

 Marketing to increase market share and reduce expenses in the pursuit of income are sought through
the company model.
 Low morals have caused more and more member complaints.

GOALS AND OBJECTIVES:

Every company has some priorities and objectives to expand and better represent. Two of EMU simulation’s
primary goals and priorities are as follows:

 To contribute to customer fitness

 Increasing ownership

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  Development and maintenance of the leading organisation’s standing.
 To insure that the environment is constructive and workable
 Create balance in the organization’s impact and subtlety.
 Improved workout equipment availability

An overview of internal strengths and vulnerabilities, global opportunities and risks, industry development
research, and the macro-environmental report has developed a framework for the planning of this strategy
evaluation. New business strategies for different consumer niches are mainly established.

2. External risks of entering this market

Emu Fitness has lost its market share in the past few years and hired an outside firm to perform some
preliminary research to evaluate the factors which contributed to its recession. Emu Fitness has found many
internal and external problems impacting the group. Emu Fitness also explores the impact of various internal
influences on a company’s admission decisions. Emu Fitness must be assessed, along with the potential
threats of competition into its market, as these considerations play a significant part in the decision phase.

When an Emu Fitness decides to enter a particular market, it is exposed to certain risks in the chosen market.
Such threats can be common and will significantly impair the activities of the business if not well handled.
When assessing the possible danger of obstacles, Emu Fitness will remain vigilant and establish effective
methods to tackle them. Emu Fitness can integrate all this knowledge regarding the decision cycle, the
modality of admission, the contextual variables influencing decision-making, and the threats involved with
it, into a structure that can then be used to articulate the admission decision process.

Business risks are influences that may hinder Emu Fitness from meeting its marketing targets in an external
setting. Identifying such risks is part and parcel of the SWOT policy analysis phase for assessing
weaknesses. SWOT-analysis helps to build a marketing threat strategy, either by using the strengths of Emu
Fitness to reduce their risk vulnerability or by removing internal vulnerabilities, which makes the business
susceptible to external risk threats.

The overall goal of all marketing efforts is to increase an organization’s productivity. This is important to
assess in depth the economic effect of a campaign initiative and to determine how long it takes the efforts to
produce a profit. This and the anticipated income margin must be taken into consideration in the context of
start-up costs and the possibility of failure. The company will determine that the expense of start-up and loss
probability is competing against future income and that it is likely to be recognized in an reasonable period.

1.3 Explore entrepreneurial approaches for their potential business application

Insert your responses here:

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  Size and growth of the opportunity

Emu Fitness is a private health club company, containing fifteen health clubs with around 1000 active
members each. In the sport and wellness market, Emu Wellness serves as a limited participant. They are
committed to developing innovative health clubs to deliver state-of-the-art fitness and lifestyle programs that
inspire people of all ages, backgrounds, and abilities to lead active, healthier lives.

Emu Fitness will be targeting 2019-2020:

 Innovative products or services of fitness and lifestyle to include new markets

 To swap the Emu picture with the “Tiger” version
 To expand the workforce for the future

Emu Fitness is also aiming to produce, within the next 12 months, at least two original fitness items or
services. Such two recent creative approaches would boost the rising fitness center’s gross sales by 10%
during the next 12 months.

 External risks of entering this market

Reaching new markets will offer opportunities to increase the volume of sales, expansion, market share, and
return. To order to reconcile the possible rewards of joining the new industry with costs, rigorous analysis is
required before a new company joins.

To evaluate the effect, emerging business prospects must be measured. All future impacts are assessed
objectively; unintended effects may harm the company or ruin a new opportunity. Factors in knock out will
be determined. Some would knock the whole business out, while others would just knock one of its markets
out. The effect of new goods can be knock out. A new business may disrupt an established market.

Cash flows can have an impact on customer service, in particular financial issues. Entering new markets
must ensure that a cash crunch causes them to scale back on their existing consumers’ business. The
entrance to a new sector is expensive and will be profitable only if the rewards exceed the costs. Resistance
by the individuals concerned may be a significant danger of some transition.

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Task 2: Investigate marketing opportunities
In this task, you will review your two marketing opportunities for alignment with the organisations capability. This
analysis will lead to an estimation of the return on investment and from this the development of a priorities matrix.

2.1 Analyse fit between marketing opportunities and organisational goals and capabilities
Insert your responses here:
Sustainable development and productivity are rarely a certainty in today’s market climate. Technological
and scientific developments shorten product and service life cycles, change business models, and new
competition from elsewhere in the industry.

The first timeline of the implementation of EMU is for the following organizational targets to be
accomplished:

 Contribute to customers’ fitness

 Down on the property holders
 Growth and retention of the leading organisation’s standing.
 To insure that the fitness atmosphere is constructive and feasible
 Provide consistency between the organization’s influence and subtlety.
 Building on fitness gear quality.

The external analysis examines the opportunities and threats that exist in the environment of your
organization. The organization is independent of both opportunities and threats.

The appropriateness encompasses the scale, development, and operational capability of the conceptual
justification. Power, vulnerability, potential, and hazard analysis (SWOT) is one tool for determining
appropriateness. An effective plan suits the purpose of the organization, represents the strengths of the
business, recognizes prospects in the outer world while preventing risks. A strategic edge should be obtained
from an acceptable approach. In an organization’s environment, opportunities are favorable conditions that
can yield benefits if properly leveraged. We find the improvements to our growth target and plan, the
business lines in which we are based and how these business lines work together.

The strategy is structured accordingly. That determines the plan is the organisation. Changing tactics
involves adjusting what everybody does in the business. When an entity adjusts its framework rather than
policy, the policy shifts to suit the current organization.

The first move to establish and execute a successful corporate approach is the SWOT analysis. The next step
after a thorough SWOT analysis is to identify and document the strengths, weaknesses, opportunities, and
threats. In terms of its internal capability or external climate, the EMU will then assess its strategic fitness.

With the external market risk, an organization enters new markets only if the advantages are greater than the
risk. It is a core feature of EMU Exercise Training in the modern business which includes four main fields:

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ONE: Sales volume

Entering a new business would normally raise (usually beneficial) revenue value. The company must ensure
that they are able to manage increased sales. An increase in sales would be counterproductive at the cost of
lower customer service. Cash flow problems may also arise if economic consequences are not handled
properly.

TWO: Growth

In one single market, companies often reach a threshold for their growth and enter new markets to permit
continuous growth. A property company might reach a certain amount on the home sector and thought it
would be uneconomic to seek to increase its market share further if the commercial property industry were
to continue to develop internationally. The possibility of exponential development could be that the listings
in the emerging sector can not be adequately managed without resources and experience. An organization’s
growth must be planned and monitored carefully.

THREE: Market share

Increased market share does not reach a new industry scientifically, but the advantages and costs are
identical. A growing share of the industry:

 Could contribute to higher revenue and development

 There may be a decline in another sector in one sector. If the growing market is profitable, and the
declining market is less profitable, the organizational change would be beneficial.

2.2 Evaluate each opportunity to determine impact on business and customer base
Insert your responses here:

The essence and feasibility of the improvements will be communicated to core stakeholders of the enterprise
until the efficacy of modifying activities is established. The feasibility of the recall should be assessed in
terms of:

Financial: The transition must be willing, without seriously decreased cash flow by the company during the
time date, to deliver income within a reasonable timeline

Physical: Human services should be accessible when required, such as suitable buildings, necessary
facilities, and adequate infrastructure

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Effects on other markets: The reforms proposed would improve or at least not harm current competitive
markets for the organizations

Effects on the overall operations: The entrance into the new business is costly, and the possibility will only
be feasible if the advantages exceed the costs. Resistance by those concerned may be a significant challenge
to incorporate some improvements.

Many parties concerned do not want to understand all the details and the viability of the proposal. We also
want to ensure sure everything is properly assessed by the appropriate workers. The offer of complete
analysis reassures these persons that the data is provided and allows for a short and simple message that
increases the chances of its understanding. Everyone who needs all the details will still access it.

2.3 Determine probable return on investment

Insert your responses into the ROI and Costs Template Excel template which is a separate document provided to you
by your Assessor, and attach a print output to your Student Assessment Workbook.

2.4 Determine potential competitors

Insert your responses here:
Comparative research aims to determine the strengths and limitations of rivals on the market, tactics that
offer EMU Fitness Simulator distinct advantages, obstacles to competition’s market penetration, and any
shortcomings that could be exploited within the product creation process.

Thailand Gym Boot Camp will be the top participants of the EMU Training Simulator. The validated
workout strategies they use are one of the reasons why the Tropical Workout BootCamp is so successful.
The preparation is customized to every individual. While everybody trains in a group, everything is
different. They teach their customers the methods they need to be fit and healthier and more effective as
soon as possible.

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The Tropical Workout Bootcamp is an intense exercise system that is available to men and women of all
ages. The plan will help to enhance physical health, body mass and weight reduction, endurance, or even
toning. Though, whether you are in the ’50s and the ’60s, the bulk of participants go to camps in the 20’s so
the 30’s, and we are sure that you will always get some fantastic outcomes.

International Fitness Holidays are the second major competitors for EMU Fitness Simulation. Their primary
objective is for their customers to live a great fitness holiday at the International Fitness Holidays. Founded
by Leroy Faure, a tourist enthusiast and founder of many companies, Leroy incorporated fitness to his
holidays. By developing a service that allows everyone to rest and be fine, he decided to share his passion
for travel as well as fitness.

International fitness holidays are gyms that take place in some of the most amazing and adventurous parts of
the world. Their lifestyle holidays vary with excitement, joy, health, rest, and leisure from boot camp
meetings on the beautiful nation beaches of Bali to walking over 5000 meters above sea level from Nepal to
Everest base Camp.

Thailand Wellness Boot Camp and International Workout Tours are designed to support their clients achieve
their wellbeing and safety goals while profiting at the same time. We spent time to perform a successful
SWOT analysis according to the exercise and fitness facility marketing campaign, before spending their
hard earned cash they realize rivalry exists in the workout and fitness field.

You know that if you get right before you start your fitness and exercise center, you will not have to fight to
attract loyal customers and build a base of membership that will allow you to stop easily. Thai Fitness Boot
Camp and International Fitness Holidays.

2.5 Describe and rank marketing opportunities

Insert your responses into the table below:

Opportunity Fit with Market Size Potential Investment Capability of Time to

Name strategy? needed organisation? profit
$
Online Health Yes 85% $10bn $1.5bn Yes 2021-2030
Coaching
9

Training and Yes 97% $11bn $1.2bn Yes 2025-2032

professional
development
8

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BSBMKG501 Student Assessment Workbook | Student ID: Page 15
Task 3: Evaluate required changes to current operations
In this task, you will develop strategies and resources to ensure that Emu Fitness can provide quality customer
service to its current members which will take advantage of the planned marketing opportunities.

3.1 Identify and document changes and resources required for current operations
Insert your responses here:

A company may require some improvements in its service as it profits from the new business opportunities.
Such modifications may be listed as key headings:

1) Staff

In order to cope with increasing sales and provide after-sales service, new sales and support workers may be
necessary. All workers will be qualified in their current business positions.

2) Work practices

Policies and policies will be updated to ensure that they are appropriate for the modern environment and the
implementation of all emerging technologies.

3) Legal

A company can be exposed to regulations that have not historically extended to its activities in emerging
markets. An organization that, after selling its products exclusively to the business market, decides to sell its
products to the consumer market would be subject to consumer protection legislation. It needs to document
its duties in detail as well as ensure that all relevant staff understands the new duties.

4) Financial

In the preparation phase, the anticipated financial effect of new business development is important. Cash
flow forecasts, profit estimates, cost analysis and investment return forecasts would be included in the
relevant information. And certain companies, such forecasts require expert guidance. When capital resources
are to be collected for the new sector, financial organizations and strategic planning include investment
strategies, feasibility reports and cash flow projections.

When an organization enters a new market, it requires additional resources and a reallocation of
existing resources to open the market and service it. During the planning stage, these resources will be
identified, and new resources will be located. This could include negotiating offers of supply because costs
need to be budgeted and reliable supply, at the required levels, needs to be confirmed.

a) Promotion

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Advertisements on various platforms, promotional rewards, conferences, interactive exhibits, direct mail
promotions, leaflet drops, spruiker, and contests will be used in the development of new markets.
Organizations will organize their advertising activities according to their own desires, traditions and
strategies in order to insure that they have the appropriate resources.

b) Research and development

In order to maximize their ability, marketing strategies must be extensively investigated. Organizations must
be aware of what resources they need for research and whether they can perform their own data analysis or
use market research organisations. It needs to be developed, particularly for a new product, after a new
market was established.

c) Re-tooling

Manufacturers that produce innovative goods have to rebuild and fund their plants while the company is
creating a new business. This can be a simple resource adjustment, as with Emu Fitness.

3.2 Communicate viability of changes to current operations

Not required. You will be holding a meeting with two stakeholders. Please refer to your Student Assessment
Workbook for detailed instructions.
The nature and viability of the changes must be conveyed to key stakeholders within the organization after
the determination of the viability of changing operations. The viability of recollection will be evaluated in
relation to:

 Financial: In an reasonable amount of time, the adjustment must be able to deliver income without
significantly rising cash flow in the company
 Physical: Physical resources should be available or available, such as suitable premises, adequate
equipment, and appropriate infrastructure
 Effects on other markets: the proposed changes should enhance or at least cause no damage to the
organizations existing viable markets
 Impact on the organization’s general activities

There is a danger of joining the new business, so the opportunity cannot be sustainable because the benefits
are larger than the costs. Resistance from the individuals concerned may be a significant challenge to make
certain reforms. If several workers have not noticed and acknowledged the need for reform and the desire to
improve and have not been active. A landscape provider who decided to add garden furniture to the range of
products should explain its proposal, its advantages and its risks. This may be done in a conference, an e-
mail or both.

Most potential people do not want to learn all the specifics and viability of the plan. You also want to be
sure that the individual involved has properly examined it. The complete research package reassures these
individuals that the proof is present and allows it easier to keep the response brief and simple, raising their
BSBMKG501 Student Assessment Workbook | Student ID: Page 17
likelihood of being heard. Many that like all the information will still see them. A key player is someone
who plays a part in introducing the transition or who has its position influenced by the shift, although the
scale and scope of both organizations vary:

Board of The committee is wholly accountable for the performance of the

Directors organization and
Any amendments to operations must be authorized. We will always be
kept updated as the improvements are made.
Finance staff Finance workers can be active in the planning and execution of
improvements and budgets. They must also be sufficiently briefed as
controls are introduced to be able to monitor the financial aspects and
ensure compliance with the budget.
Human Responsible for ensuring the correct personnel to introduce the transition are
resources properly educated. Throughout the growth of a competitive sector, HR
staff employees have three key functions: hiring workers to make improvements,
selecting existing staff for new or expanded positions to be educated or
retrained; and all necessary teaching and retraining plan and supervise.
Managers If the proposed amendments affect a department, its manager must be
informed. When launching a new product or opening a new segment, the
sales team will be necessary. The manager of sales must be fully informed.
If the company reached a new market with an established commodity, it
could not alter its activities, but the shop manager will have to be
encouraged to prepare and raise its turnover.

Marketing Marketing personnel identifies and develop new marketing opportunities and,
personnel if they have a chance, they must develop a campaign to ensure that the
organization enters the new market successfully. Campaign workers work
and will be kept aware of almost all marketing operations.

The owners The viability of the organization is concerned, like the Board of Directors.
All big improvements to procedures will be informed and told.
Production Many changes involve the development of new goods, whereas others need
staff more proven commodity output. Organizations that produce their goods will
advise and train suppliers to achieve the amounts needed for the latest
products and extra volumes of current products to preserve consistency.

Changes to current operations can include:

 Staff, including new staff and new staff recruitment and training and retraining
 The job process, including the alteration and implementation of new methods
 Premises for expansion, refurbishment or finding of new premises
 Equipment for adjustment and reproduction and the purchase of new equipment;
 Compliance issues and administrative enforcement
 Financial practices and refinancing
 Adopt new accounting methods and billing

BSBMKG501 Student Assessment Workbook | Student ID: Page 18

The feasibility of the proposed operational changes must be identified and then communicated to all key
actors because it is their support that depends on the success of the changes. The primary players concerned
are not going to have the necessary help until they fully recognize the value of the reforms and believe that
the plan has been tested correctly.

3.3 Document newly identified report on marketing opportunities and required changes
to
Upon the receipt of the feedback from the stakeholders, make the necessary adjustments to your earlier findings
where necessary.
Changes which need to be made in response to new marketing opportunities must be documented:

 To ensure all changes, including knock-off effects, are identified, and appropriate plans are made to
manage them
 As a means of informing all personnel who need to know about them

New markets may require an organization, depending on the relationship between the new market and its
current markets, to increase its ability to operate or introduce new practices and procedures.

When a distribution business of dry and packaged food was alone in a big breakfast cereal producer but did
not have to undergo any significant improvements to existing strategy and practices, it would have to expand
its manufacturing ability.

The new company could boost the bakery business of the same maker so that another breakfast cereal brand
could be knocked off. If the same wholesaler became a supplier of fresh meat, new procedures, equipment,
and working practices would have to be introduced, and a new set of rules and laws would be subject to
them.

The changes depend on the nature, existing markets, and operations of the organization and new marketing
opportunities. Some organizations and certain markets would need to change in others, while certain
organizations would not have to consider these factors.

BSBMKG501 Student Assessment Workbook | Student ID: Page 19

 For Assessor Use Only

Task Outcome Sheets

The Outcome Sheet below is the assessment questions and tasks for each of the assessment events that the student
is required to complete. Assessors, tick ‘S’ if the student achieved a satisfactory outcome for an assessment task and
‘NYS’ if the student does not meet these requirements. Also, you are required to write comments on the quality of
this evidence under the ‘Comments’ column. For your judgement on the student’s overall performance, tick
‘Satisfactory’ if the student achieves a satisfactory outcome for all of the tasks or ‘Not-Yet-Satisfactory’.

Assessment Event 1 – Knowledge Questions

Assessment Event 1
S NYS Comments
Knowledge Questions

Question 1

Question 2

Question 3

The student’s performance for Assessment Event 1 is  Satisfactory  Not-Yet-Satisfactory

Assessor Signature: Date:

BSBMKG501 Student Assessment Workbook | Student ID: Page 20

Assessment Event 2 - Simulation
Assessment Event 2 S NYS Comments

Sub Task
1.1

Task 1:
Sub Task
Identify Marketing 1.2
Opportunities

Sub Task
1.3

Sub Task
2.1

Sub Task
2.2
Task 2:
Investigate Sub Task
Marketing 2.3
Opportunities
Sub Task
2.4

Sub Task
2.5

Sub Task
3.1
Task 3:
Evaluate Required Sub Task
Changes to Current 3.2
Operations
Sub Task
3.3

The student’s overall performance is  Satisfactory  Not-Yet-Satisfactory

Assessor Signature: Date:

BSBMKG501 Student Assessment Workbook | Student ID: Page 21

 Assessment Outcome Sheet
Student ID Family Name First Name

Course Code Course Title

Unit Code BSBMKG501 Unit Title Identify and Evaluate Marketing Opportunities

Assessment Outcome
Assessor, please tick and date the student’s final outcome of this assessment:
Initial Submission Date Re-submission 1 Date Re-submission 2 Date
C NYC ___/___/____ C NYC ___/___/____ C NYC ___/___/____

Assessor’s Feedback
Assessor, please provide your comments on the student’s final outcome of this assessment:

Assessor Full Name Signature Date

Receipt of Student’s Assessment

Assessor, you must provide the completed copy of this receipt to the student as an evidence of submission of
their assessment to you.
First
Student ID Family Name
Name
Course Code Course Title
BSBMKG50
Unit Code Unit Title Identify and Evaluate Marketing Opportunities
1
Extensio
n Date
Date __/__/__
Due Date __/__/___ YN Approve __/__/___
Received _ Approve d
d
Initial Submission  Re-submission 1  Re-submission 2  Assessor’s

BSBMKG501 Student Assessment Workbook | Student ID: Page 22

 Signature

BSBMKG501 Student Assessment Workbook | Student ID: Page 23

Student Feedback Form
Dear Student,
We are keen to improve our products and services, and assessment tools are a key part of this. Therefore, we would
welcome your feedback on the assessment. If you could take a few minutes to complete the form below, it would be
greatly appreciated. Please provide thoughtful responses as your opinions are highly valued.

Yes No Questions

Y N Did the assessment cover the training you received for this unit?

Were the tasks in Assessment Event 2 based on realistic activities that you would expect to be
Y N doing in a workplace?

Y N Did you understand the assessment instructions?

Y N Were the tasks easy to understand?

Y N Did the Assessor set up and run the simulation professionally?

Y N Was the Assessor’s decision fair?

Y N Was the Assessor’s feedback specific?

Y N Was the Assessor’s feedback comprehensive?

Y N Was the Assessor’s feedback constructive?

Y N Was the Assessor’s feedback timely?

Y N Were you satisfied with your effort in this assessment?

What would you change about this assessment?

What could the Assessor have done differently to improve the

assessment process and/or assessment feedback?

Overall, what was the most significant challenge of this assessment?

Overall, what did you like the most about this assessment?

Do you have any other comments?

BSBMKG501 Student Assessment Workbook | Student ID: Page 24