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BSBMKG603 FINISH PDF Assessment Guide v1 Student
BSBMKG603 FINISH PDF Assessment Guide v1 Student
GUIDE
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Email: thomasprajna@gmail.com
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Question1.
What are the five (5) main kinds of trends that impact on marketing? For each, give a current or
recent example.
1. People are putting more trust in others they know and reputable content, not ads.
In fact, 30 percent of all internet users are expected to be using ad blockers by the end of
this year, meaning traditional ads now won’t even reach 30 percent of possible target
audience members.
2. Creativity, not conformity, will set successful marketers apart.
Simply put, everybody else had gone digital, and this company saw an opportunity to do
something different. Now, I’m not advocating that businesses should try to resurrect print
marketing or do something only because it’s uncommon and not because it resonates
with their audiences. But they should consider integrated campaigns and creative
distribution tactics that focus on ways to engage audience members that their industry
competitors might not be considering.
3. Winners won’t be concerned with internal barriers.
This engaging content doesn’t just help marketing, It can enable the sales team and
beneficial to rcructingruiting , investor communication, internal training, and just about
every other area of the business.
Leading companies are to built on department that work together. Creating engaging
content isn’t just marketing concern. Great content can fuel other part of the company,
resulting in better talent, lower cost, and improved relationships with investors.
the ways they like. That’s why it’s so important for marketers to be
Question2.
Outline an economic trend and its impact on marketing activities. Include a description of the
marketing options you identify. (Approx.80 words)
Question3.
Outline three (3) social trends and how these impact on marketing activities. (Approx.80 words)
Marketers will still need to publish content to multiple platforms, depending on their target audience.
There’s still not one single social platform that reaches all potential buyers. Instagram may be
climbing up there with 800 million active users, but that could never compare to Facebook’s 2 billion
monthly users. Beyond that, there is still a small but loyal group of holdouts hanging on to Snapchat,
regardless of how popular Instagram has become.
2.Social listening
It’s easy to set it and forget it when it comes to scheduling your social media posts. That doesn’t
help you stay on top of what your buyers are looking for, though. Believe it or not, your
customers are talking about you on social media. If you don’t hear the chatter, it’s because
you’re not listening.Take some time to seek out the posts about your business. In some cases,
you’ll be tagged, and that makes the posts easier to find. Sometimes, however, you’ll be
mentioned without a tag. You might have to get a little more creative with your searches in order
to find these posts. Use keywords that include your industry, your products, and your company
name to dig up all of them. There are also some tools that could help you get better at hearing
the chatter about your brand.
3.Chat bots
Chat bots sound so futuristic that it’s hard to wrap our heads around the possibilities available to
us. It’s possible right now to let a chat bot handle many of the day-to-day questions you receive
from your customers. With a little customization, the bot can answer FAQs, walk customers
through billing issues, provide suggestions for products, and more. There are actually some
chatbots available to even the least tech-savvy of us, but you might have to spend some time
finding the right option for you. The easiest chatbots can be installed for Facebook messenger.
These can be so simple as to let your visitors know that a message has been received and that
you’ll respond as soon as possible. This helps to keep your message/answer rate high without
running you ragged to answer messages at all hours of the day.
Question4.
Describe current marketing industry trends and how these impact on marketing activities. (100
words)
Timing – the Web and other technologies have made customers more impatient than ever.
Personalization – customers are expecting personalized offerings and will no longer tolerate a
"one size fits all" approach.
Value definition – customers who demand the total experience have redefined the value
proposition. They leave little or no room for error and they want to be satisfied at every touch
point.
Employee actions– customers are tired of brand promises; they want to see them carried
through in employee's actions.
Authenticity – the customer experience must be authentic.
All these trends force marketers to rethink the way they engage and interact with their
customers. More than ever before, today's marketers need to make sure that their marketing
offer is fully backed by an organization that is ready to deliver on the promise. Current trends in
marketing communication and their application to the field of tourism. The ever growing
importance of the Internet and the development of technologies that are becoming more
accessible to consumers have given rise to new kinds and forms of marketing communication
that need to accommodate to all these trends. Social media play a significant role both on the
demand and on the supply side and are starting to shape consumers' decision-making process.
In tourism, this concerns primarily the impact of online reviews (WOM or eWOM marketing),
mobile marketing and online marketing. The fact, that social media is an important part of the
communication mix in tourism is demonstrated by successfully implemented campaigns;
campaign of Cape Town on Facebook, first Twitter hotel Sol Wave House or TrueView
advertising of Nassau Paradise Island on YouTube. The first two of these campaigns are even
low cost and Facebook campaign of Cape Town meets the elements of buzz marketing. Social
media can be generally defined as the Internet and web-based technological platforms designed
to facilitate social interaction among individuals, groups and organizations, enabling
transformation of one-way communication (monologue – one to many) into a social dialogue
(many to many) (Mills, 2012). Social media, i.e. social networks and microblogs, are at an
increasing rate replacing traditional media. The buzz around these new marketing
opportunities seems to be an unlimited space (Bruhn, Schoenmueller, & Sch, 2012). Blogs,
podcasts, e-books, press releases and other forms of online content provide organizations with
space that allows them to get closer to the customer who will appreciate this form (Scott,
2008). Among one of the most popular social media include Facebook. The most frequent
goals of Facebook advertising campaigns were increasing company's website visit rate (78%),
sales boosting (68%), improving client awareness about trademark or company (56%) or
launching a new product or a service (12%) (Vejacka, 2012). The following Tab. 1 sums up the
most common social media tools and their objectives
Question5.
(a) What is marketing?
Marketing is the study and management of exchange relationships. Marketing is the business
process of creating relationships with and satisfying customers. With its focus on the customer,
marketing is one of the premier components of business management.
The marketing mix is one of the most famous marketing terms. The marketing mix is the tactical
or operational part of a marketing plan. The marketing mix is also called the 4Ps and the 7Ps.
The 4Ps are price, place, product and promotion. The services marketing mix is also called the
7Ps and includes the addition of process, people and physical evidence.
Question6.
What are the ‘7Ps of Marketing? List them and provide a brief description of each. (100 words)
• People – All companies are reliant on the people who run them from front line Sales staff to
the Managing Director. Having the right people is essential because they are as much a part
of your business offering as the products/services you are offering.
• Processes –The delivery of your service is usually done with the customer present so how
the service is delivered is once again part of what the consumer is paying for.
• Physical Evidence – Almost all services include some physical elements even if the bulk of
what the consumer is paying for is intangible. For example a hair salon would provide their
client with a completed hairdo and an insurance company would give their customers some
form of printed material. Even if the material is not physically printed (in the case of PDFs)
they are still receiving a “physical product” by this definition.
Though in place since the 1980’s the 7 Ps are still widely taught due to their fundamental logic
being sound in the marketing environment and marketers abilities to adapt the Marketing Mix to
include changes in communications such as social media, updates in the places which you can
sell a product/service or customers expectations in a constantly changing commercial
environment.
Question7.
The typical structure of a large organisation consists of board, managers, supervisors and
operators. Describe what roles and responsibilities each of these have in relation to marketing
activities.
Managers Managers organise and plan their units to exceed the expectation
of internal and external customers. They work closely with other
managers across the organisation to promote a range of benefits,
including:
○ Continuous process improvements
○ Improving accuracy
○ Reducing the need to repeat work
○ Driving up efficiency year on year.
Operators Operators are at the ‘coal face’ and are responsible for the day-to-
day operations of the organisation. This is the level at which a
graduate might enter the organisation in order to learn all aspects
of the business. The role requires accuracy, efficiency and a high
level of individual responsibility. Graduates can achieve rapid
progress to more senior levels in the business
Question8.
Strategic management is the process of examining both present and future environments,
formulating the organisation’s objectives, and making, implementing, and controlling decisions
focused on achieving these objectives in the present and future environments.
Strategic management is a continuous process that involves attempts to match or fit the
organisation with its changing environment in the most advantageous way possible.
Industry analysis is one major element of a strategic analysis process. It includes an overall
assessment of the sector in which the business operates. A movie rental store would evaluate
the size of the movie rental market, current competitors, target markets and market trends.
Understanding the current industry structure allows a business to decide how best to position
itself in the market place .
(c) What is a SWOT analysis? How can it help with strategic management?
SWOT analysis (or SWOT matrix) is a strategic planning technique used to help a person or
organization identify strengths, weaknesses, opportunities, and threats related
to business competition or project planning. It is intended to specify the objectives of the
business venture or project and identify the internal and external factors that are favorable and
unfavorable to achieving those objectives. Users of a SWOT analysis often ask and answer
questions to generate meaningful information for each category to make the tool useful and
identify their competitive advantage. SWOT has been described as the tried-and-true tool of
strategic analysis. Strengths and weakness are frequently internally-related, while opportunities
and threats commonly focus on the external environment. The name is an acronym for the four
parameters the technique examines:
• Strengths: characteristics of the business or project that give it an advantage over others.
• Weaknesses: characteristics of the business that place the business or project at a
disadvantage relative to others.
• Opportunities: elements in the environment that the business or project could exploit to its
advantage.
• Threats: elements in the environment that could cause trouble for the business or project.
Question9.
What are the five (5) key steps in marketing management? Briefly explain each step.
1. Planning – Attempting to develop systems and plans that enable an organisation to achieve
its aims. This generally involves determining what an organisation wants to achieve and
developing a marketing plan (which at this stage is generally strategic in nature).
2. Research – Attempting to determine exactly what the customer wants. The Marketing
Concept states that the organisation should attempt to satisfy the needs of the customer. In
order to do this, the organisation needs to understand exactly what it is the customer actually
wants. Research in the form of focus groups and surveys are excellent in gaining this crucial
information.
3. Implementation – Once you know what you want to do, you need to develop a plan that will
allow you to get there. We will be focussing on implementation in detail later in this section.
4. Control – All good plans have a focus on control - examining how we will ensure that a plan
stays focused and on track. Controlling exactly what is occurring is key to ensuring that the plan
works effectively.
5. Evaluation – Planning should always include elements of evaluation. This is a quality control
tool that ensures that the organisation learns from its experiences and that future plans have
elements built into them that reflect the need to continuously improve continually the processes
that are put in place
Question10.
For each of the following statistical and data evaluation techniques you could use to measure
marketing performance, provide a brief description and an example of when you could use it.
Statistical evaluation:
Sales results The results usually as a number of last month our company success
sales monthly or a year depend sold nearly 200k of new product.
what is the company rule. It could This number bigger than the
be positive or negative. previous month.
Market share Market share represents the Let's assume Company A sells
percentage of an industry, or a $50 million a year in widgets. If
market's total sales, that is earned the total amount of widgets sold
by a particular company over a from all companies within the
Cost compared to Total cost we used for one product Our new product cost the
sales should cover by our sales and we company about $100k and the
can say we get profit. team sales reach $500k in a
month for only that product.
financial performance is a
Financial performance Line items such as revenue from
subjective measure of how well a
operations, operating income, or
firm can use assets from its
cash flow from operations can be
primary mode of business and
used, as well as total unit sales.
generate revenues. This term is
Furthermore, the analyst or
also used as a general measure of
investor may wish to look deeper
a firm's overall financial health over
into financial statements and seek
a given period. Analysts and
out margin growth rates or any
investors use financial performance
declining debt.
to compare similar firms across the
same industry or to compare
industries or sectors in aggregate.
Data evaluation techniques
Model building In looking for an operational New product with new idea and
definition of what a Marketing good price to attract new
Model is, certain key words customer and new market
emerge. These are representation,
real world, events, objects,
processes and relationships.
Surveys of intention A forecasting technique in which The team sales sell the new
known purchasers of a product are product direct to the point market
asked to predict their requirements and do research and survey by
for a given future period. point target.
ASSESSMENT 2: PROJECT
TASK2
A.Marketing Plan
Blue Sea Fashion was established in 2009 and specialises in male and female clothing and
footwear, with cutting edge fashion made to suit the Australian lifestyle. Clothing and
footwear aremostly Australian designed and made. although there are some imported
ranges. Accessories such as bags and jewellery are sourced from all over the world.
Company mission is to provide its customers with the opportunity to find clothing for any
occasion from everyday basics to evening clothing that is ethically made and suits the
Australian lifestyle.
The company has its head office in Melbourne and five stores in inner city Melbourne, as
well as two stores in inner city Sydney and three in Brisbane. The target group are
essentially professional, men and women aged 25 to 50. Not much is known about the
existing customers other than their age. The company is interested in knowing more about
customers but not sure where to start on this.
In the areas where the shops are based, there are a number of other similar stores and
competition is fierce within the fashion industry generally.
Products include a full range of clothing for men and women from casual to smart, formal.
Shoes sold are also casual, as well as formal.
The market for fashion clothing in Australia is estimated last year at $21 billion per annum with an
anticipated growth rate of ten percent in the coming year.
The next six-month campaign is designed to take advantage of growth in the fashion industry and
seasonal variations.
In this company believed that the extra expenditure in web marketing was justified in
preparation for theexpansion in on-line merchandise sales that will be included in the next
marketing period. You also believe that there is a need for the company to shift more of its
marketing budget into web marketing activities in line with the industry trends.
With a growing market you believe that by maintaining market share the company will get
solid and controllable growth. Pushing for increased market share in a growing market
could cause customer service and management issues
B. Action Plan
Marketing Manager -Set up a good strategy to The new season coming and
reach the goal. new product release.
(Marie) -Manage the new promotion.
-Make sure all the team know
well about the new product
and have motivation to sell
the product into new market
and new season.
Specialist research Set up everything about the -The new season coming
and Engine website new product in the website -new product launching
Manager and make sure every regular
-special offer for new product
customer and new customer
easy to access into the
(Tony)
website and they all know
about the new product.
Financial / -Design new payroll system Time when due to new fiscal
Accounting -make sure the budget and Season
(Dylan) expenses are balance.
Manager : Good morning Marie and Tony… how everything all good?
Manager : I heard you have some problem Marie? Could you please tell me what
happen actually?
Manager : Ok Marie, I think better for you to have some training outside and some
course for build your confidence. And also I will arrange some regularly meeting with
you.
Manager : Tony I need discuss with you with some issue that I heard.
Mgr :I understand you skill and capabilities for digital marketing is the best in this
office, but one thing is very important too is you are have to communicate with other
staff and also need team so you can work together. I am pretty sure that in the end
the result will much better for our company.
Tony : alright next time I will follow your advise. Thank you
Marketing Manager -Set up a good strategy to The new season coming and
reach the goal. new product release.
(Marie) -Manage the new promotion.
-Make sure all the team know
well about the new product
and have motivation to sell
the product into new market
and new season.
Specialist research Set up everything about the -The new season coming
and Engine website new product in the website -new product launching
Manager and make sure every regular
-special offer for new product
customer and new customer
easy to access into the
(Tony)
website and they all know
about the new product.
Financial / -Design new payroll system Time when due to new fiscal
Accounting -make sure the budget and Season
(Dylan) expenses are balance.
E.COMMUNICATION PLAN
Marketing Manager Marie is a new staff; the best way communicate with her is
Slowly talk and nicely, do more than the others and try to
understand how she is learn anything also how fast she’s
can catch up with all other staffs.
Specialist research With Tony need must show respect with the other colleague,
and Engine website be kind and share with everyone with his skills and always
Manager welcome everyone to practice and improve their skill. show
what the positive he has and what negative impact to the
company if not cooperative with another dept.
Tony
HRD Manager Make sure update the list of employees, provide training to the
Rudy staff, make plan and always recruit good and competitive new
staff.
F.Brief
Advertising promotes the seller’s product through printed and electronic media. Advertising is an
important strategic device for maintaining a competitive advantage in the marketplace. Advertising
budgets represent a large and growing element in the cost of goods and services. So clearly,
advertising must be carefully planned
advertising is justified on the basis of the revenue it produces. Revenue in this case may refer
either to sales or profits. Marketing managers must be aware that for any advertised product, it can
be assumed a point is eventually reached at which additional advertising produces little or no
additional sales. The marketing manager must make two key decisions. The first decision deals
with determining the size of the advertising budget, and the second deals with how the advertising
budget should be allocated
This Company have to communicate first with Advertise person, it can be more important to advise
what need be adversities our product.
For example, a particular newspaper ad must compete with other ads, pictures, or stories on the
same page. In the case of radio or TV, while only one firm’s message is usually broadcast at a
time, there are other distractions (noise) that can hamper clear communications, such as driving
while listening to the radio.
To IT person,
G. Report
In this company history after six months later, Extend Marketing Consulting provides you with a
report on the fashion market in Melbourne, Sydney and Brisbane.
Their latest estimate is that the market for this fashion clothing niche in the Brisbane market is
$796 million per annum up from $700 million per annum last year. The predicted growth was
10% for this year. Melbourne had a similar growth pattern. Extend Marketing said that the large
increase in interstate migration was increasing the growth and consequently the clothing
sector. Extend Marketing expects this trend to continue for at least the next five years.
You print a copy of the latest store averages and note that the average weekly sale for the 3
Brisbane stores and 5 Melbourne stores has grown to an average of $56,400 per week per
store. Expectation was 8.5% Growth on $49,360 per week per store. Market share was
targeted at 12%.
You also check the latest market expenditure report to see the amount of money invested in
marketing activities to get the stores to this new level. You note the following expenditure over
the past six months.
Advertising $250,000, PR $30,000, in-store promotions $60,000, internet marketing $100,000.
You believed that the extra expenditure in web marketing was justified in preparation for
theexpansion in on-line merchandise sales that will be included in the next marketing period.
You also believe that there is a need for the company to shift more of its marketing budget into
web marketing activities in line with the industry trends.
With a growing market you believe that by maintaining market share the company will get solid
and controllable growth. Pushing for increased market share in a growing market could cause
customer service and management issues.
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submit the report to your assessor.
16/05/19
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