Mkg502 - Introduction To Marketing Mix

R `MKG502
Introduction to Marketing Mix
Assessment
Contents
Assessment instruction........................................................................................................................3
Unit information......................................................................................................................................5
Formative assessments........................................................................................................................6
Activity 1...............................................................................................................................................6
Activity 2...............................................................................................................................................7
Summative assessments......................................................................................................................8
Activity 3...............................................................................................................................................8
Activity 4...............................................................................................................................................9
Activity 5.............................................................................................................................................10
Activity 6.............................................................................................................................................11
Activity 7.............................................................................................................................................12
Activity 8.............................................................................................................................................13
Activity 9.............................................................................................................................................14
Activity 10...........................................................................................................................................15
Activity 11...........................................................................................................................................16
Activity 12...........................................................................................................................................17
Activity 13...........................................................................................................................................19
Evidence Summary sheet...................................................................................................................20
MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

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Assessment instruction
Participant Name
Resources required to undertake this assessment
Participants must have access to these resources:

 Copies of the activities, questions, projects nominated by the trainer/assessor
 Relevant organizational policies, protocols and procedural documents
 An appropriate workplace or simulated workplace
Assessment instructions
Participants should respond to the formative and summative assessments either

verbally or in writing, as agreed with the trainer/assessor. Written responses can be
recorded in the spaces provided (if more space is required attach additional pages) or
submitted in a word-processed document.
Participants should also undertake observable tasks that provide evidence of

performance. Trainer/Assessors must provide instruction to participants, on what is
expected during observation, and arrange a suitable time and location for
demonstration of these skills.
Participants must fully understand what they are required to do to complete these
assessment tasks successfully, then sign the declaration.
Performance standards
To receive a satisfactory result for the assessments participants must complete all
activities, questions, project/s and tasks nominate by the assessor, to the required
standard.Completion of all tasks, to a satisfactory level, will contribute to a final
assessment of competence.
Assessors must clearly explain the required performance standards.
Declaration
I declare that:
 The assessment requirements have been clearly explained to me
 All the work completed towards assessment will be my own
 Cheating and plagiarism are unacceptable
Participant
Participant Name
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©smallprint V3 Apr 2015 Page 3 of 28
Trainer
Trainer Name
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Unit information
Unit Code MKG502
Unit title Introduction to marketing mix
This unit describes the skills and knowledge required to

determine the optimum marketing mix for a business through
analysis of interrelated marketing components.
Application
It applies to individuals in marketing management roles who
are responsible for developing marketing and promotional mix
within an organization. They may also adjust the marketing mix
when new marketing opportunities are identified.
Licensing, legislation,
No licensing, legislative or certification requirements apply to
regulation or certification
this unit at the time of publication.
requirements
Foundation skills This unit contains foundation skills
Pre-requisite, co-requisite
or interdependent None specified.
assessment units
Assessment must be conducted in a safe environment where

evidence gathered demonstrates consistent performance of
typical activities experienced in the business development –
marketing field of work and include access to:
Assessment conditions
 An actual or simulated workplace
 Office equipment and resources
 Organizational and marketing strategic plans
Assessor must satisfy NVR/AQTF assessor requirements.

Formative assessments
Activity 1.
The organization for which you work is developing a new set of products. It is quite different
from any other product generally sold by the organization. You have been asked to head the
marketing team. Before you and your team can develop a marketing plan you must identify
the key characteristics of the products and their variations.
Q1. Write 500 words explaining what product information you will need and how this
information will assist with the development plan.
Marketing Plan involves all of the internally focused decision, steps and tasks necessary to
develop a successful product. Product, price, place, promote are the 4Ps I am using in this
marketing plan. The first thing I want to talk about is Place. The geographic location of the
target market and the point of distribution will influence the marketing target. Places like
centralized locations where the public can pick up life sustaining commodities following a
disaster or emergency. Place is a unique feature because it does not move from production
site to consumer or consumer outlet which means that the buyers visit to make purchases. If
the location or place does not change marketing can emphasize the actual site. Giving the
customers a better lifestyle by locating where all the amenities are nearby or designing the
store in a unique way which could uplift the image of the product. After all the stages, you’ll
have to present the customer, by this way you can make the bond between prospects and
you trustable. It’s very important to give the physical evidence. So that the customers can see
before purchasing. And the second thing is the Product. Product is way easier to market than
a service because it’s a tangible thing. Prospect usually can see or feel the product. There
can be cure products with additional services and benefits. For example, a customer who
purchases a gym membership maybe seeking health or convenience. Foot wear, protein bars
and towels are all legitimate core products because it satisfies the most basic need at the
customer. The third thing is Price. Pricing involves the determination of the product or service
and exchangeprocess.So I have to focus whether the service or product can be provided at a
price that makes it reasonable so that It’ll attract theprospect. If the product satisfies the
prospect, price is not the main determinant of purchasing anymore. There can heavy
discounts or free products or a small sample as a trial can sometimes attract prospect too. At
the same time you’ll have to know details such as how much/how many must be sold at what
price to make a profit within a specific time frame. The condition at the market you are in and
your competitors,”how are they making their money”.Searching marketing opportunities and
using the gap could be very beneficial .You have to persuade in order to get the prospects
interest. Promotions plays a big part by helping to communicate effectively with the target
market in a convincing and persuasive manner. The AIDA approach can be used, create
Attention, maintain Interest, arouse Desire and initiate. Promotions involves advertising,
media relations and so on. Advertising is paid for so it’s a way of using mass media.
Advertising is very good for introducing products/ services / companies, informing and
reminding customers; customers. It can be used to create attention and draw customers to a
product or service. It is easier to market if people understand the audience and their specific
market or customer groups.

Assessor Comments: Satisfactory/Not Satisfactory

Activity 2
Q1. Why is it necessary to review an organization’s pricing policy and to analyze pricing
variables? When should this be done? Suggest at least four things that might trigger a
review.
Pricing policy and analyzing pricing variables are necessary because it gives direction to
pricing strategies which are related to what the company wants to sell, how much or how
often. This should be identified and established before determining the price itself.If the
product is too expensive the customers would hesitate to buy it. Cost comparisons are
commonly found in reviews. Unless a product has more features or extended positives than
the competitor’s product or service. Because people are more likely to go with a cheaper
price.
Q2. In 300 words explain the 4Cs of price determination and why they are important.
Looking at the price determination, it is categorized into 4 Cs such as Consumer, Cost,

Company, and Climate.
Firstly, consumers are the one who regard the pricing as a delicate part but still leave out
other factors that affect their choice and what they buy which has a connection with the
individual’s opinions on their profits and satisfaction. This factor is affected by things such as
standard, assurance, service agreement and exchangeable rules. It’s important to be clear of
what the consumer wants and needs and especially the target group (Micah Pratt, 2013).
In order to consider the cost, it is important to observe competitors first. Majority of workers
feel enough and satisfied with their own products and pricing however they don’t examine
whether the buyers are comfortable with the pricing. Comparing each product in terms of
pricing is important because easy access to the internet also makes buyers research
regardless of place.
Therefore, it’s more possible for the buyers to choose the affordable one unless the other one
is more unique.
For the company factor, it includes things such as the factories and companies where the
product is manufactured. In order to finalize the pricing, it is also necessary to consider the
material costs, equipment costs, rent, salaries and marketing cost. The manufacturing
company needs to decide the price that will make up the mentioned costs and create profit.
Things such as the company’s brand image, investment and profits play a huge role.
Climate is basically the outer factor that can’t be managed. Things such as natural disaster,
employment, economy rate, demand and other political factors. For example; if the

employment rate increases, it will decrease economic growth. Therefore, this will cause
inflammation which will result in things such as low sales that the pricing needs to be
reconsidered again.

Summative assessments
Activity 3
Investigate a product with which you are familiar and which has undergone a rigorous
promotion. This can be any product from children’s toy to fast food insurance products.
Describe the product.
Conduct research to identify and document the different promotional methods used for the
one product.
How do you think the organization conducting the promotion identified its target market?
Consider the promotion in terms of mix – was it effective or ineffective? Which parts of the
mix were most effective?
Write 300 – 500 words explaining, as a result of your research, how and how well the product
was promoted.
What do you think the objectives of the promotion were and do you think it is likely to have
achieved those objectives? Explain why.
One of the world’s most consumed fizzy, carbonated drinks, Coca-Cola, has been the world’s
best selling drink for almost a century. Coca-Cola’s name is originated from kola nuts and
coca leaves. Coca-Cola’s, or now called Coke, is a sweet, carbonated drink with an aftertaste,
which was originally produced as a patent medicine. However, some ‘rigorous promotion’ led
to the company being one of the most sold products in the marketing world. Coca-Cola is very
flavorsome, as it contains vanilla, cinnamon, citrus oils, nutmeg, and caffeine. Coca-Cola is
not only famous its name, but also the taste of products. For example, when you buy a set of
Burgers and French Fries, Coca-Cola always comes together with them. This is because
Coca-Cola makes the consumer feels light after a heavy meal. Since Coca-Cola’s core target
audience is the youth community, there are times where Coca-Cola does promotional
activities. Advertisements in different parts of the world, countries, and states grab the
attention of the people. One of Coca-Cola’s strategy is Advertising. Many of their
advertisements are seen on billboards, pop banners, televisions. Coca-Cola also has a lot of
media attention; Facebook, Youtube , and other Media stream the Coca-Cola ads to pitch
more consumers. As time went by, consumers started to see changes in their bodies as they
consume Coca-Cola soft drinks. Companies started noticing the different varieties of soft
drinks consumers want to drink. And so, they started producing other types of flavors, like
orange, grape, lime and zero-coke(a non sugar Coca-Cola). These different flavors brought
more consumers into the market. Coca-Cola has done many sponsorship for different events;
music, sports, scholarly events, and even reality shows. These sponsorships are a good
investment that has allowed the Coca-Cola company to promotes its name, image, and
products – allowing the company to distribute to more parts of the world. Millions of people
come to these events, and like a jackpot for Coca-Cola, it has gained more audience. Coca-
Cola has also produced drinks with fun wraps on the bottles- this varies in different parts of
the world. In Japan, Coca-Cola bottles come with gift bows, which allow buyers to buy and
give others as an easy present. In Korea, Coca-Cola has put pictures of K-pop stars on the
bottles. K-pop fans like Armies and Blinks buy these bottles. As Coca-Cola continues to
manufacture these types of products, its name, image, and reputation grow bigger as the
percentage of consumers also increases. From a business perspective, I think Coca-Cola’s
promotions were very effective. On a scale of 1-10, I’d give a 100 on how the product was
promoted. Coca-Cola was first manufactured in late 1886. And for over centuries, it has been
the world’s most- consumed drink. From my point of view, I think the objectives of the

promotion were to expand their marketing field and target, together with allowing the
consumers to enjoy the product. If Coca-Cola continues to keep up the way they promote
their product, I believe they can still do so much in the future.

Activity 4
Investigate a place or distribution channel for a product or service with which you are familiar.
 Explain what product/service you are investigating and what distribution channel/s
is/are applicable.
 What is appealing about the product and distribution channel (place) and what sets it
aside from those used by competitors selling similar products?
 What benefits are presented to consumers with regard to the place or distribution
channel and how are they encourage to engage with the product or service provider?
 How significant are these to the marketing process?
Apple's business strategy makes use of both direct and indirect channels. Apple offers its
items only via its Apple Stores. The channel distribution of Apple products is indirect
marketing channel which include more than one middleman. Apple develops, produces, and
sells personal digital gadgets to consumers via its online retailers, store outlets, e - commerce
websites, and third-party distributors and merchants. Apple Inc.'s economic plan includes
corporation outlets along with third-party distributors licensed by the corporation. Apple's
distribution plan should contain in these areas such as Apple official website and other e-
commerce platform for mobile and PC, licensed vendors, Apple retail stores and telecom
companies. Apple Store is an Apple Inc. subsidiary that maintains actual or concrete block
shops that sell the business's goods as well as related items from those other companies.
These retailers, for instance, offer MacBook devices and other firms' accessory equipment.
Consumers may also purchase things via Apple's internet and social shops for mobile and
PC. Customers may purchase personal gadgets on the company's site. Applications, songs,
videos, as well as other digital material are accessible via desktop and mobile web retailers
such as the iTunes Store and the App Store. The addition of these digital platforms in this
component of the marketing mix aids in optimizing global market reach. Apple Inc.'s
distribution plan also includes retail stores. These retailers have outlets in a variety of key
places, such as shopping centers, in different markets throughout the globe. Major retailers
such as Walmart and Best Buy are among the vendors. Some approved distributors distribute
via their own storefronts as well as their Amazon.com seller accounts. Furthermore, the
business has partnerships with several mobile operators, like as Verizon, AT&T, and Sprint,
to include iPhone devices in certain of their telecommunication packs offered to customers in
national or state target areas. As a result, Apple's market segmentation is broad, using both
virtual and non-online distribution networks.

Activity 5
In 300 words explain why it is necessary to take the service component of sales into
consideration when identifying the promotional strategies that will be followed in order to
achieve identified marketing outcomes.
The intention of promotion and marketing activities is to make the buying public aware of the
company and of the product on offer.
Customer service can be a very significant part of the sales outcome. Often, customers will
choose to purchase on the basis that they receive good services from the selling
organization. They will often choose not to purchase from an organization which does not
provide good service.
They will use word of mouth advertising to let others know whether they received good or
poor service.
This is something that should be taken into consideration when determining the marketing
mix, developing and implementing marketing and promotional strategies.
The service component of sales is one of the main strategies that help a business gain
beneficial marketing outcomes. Providing good customer service is crucial because it helps
generate more marketing and sales opportunities – you also receive satisfied customers and
a good reputation as a bonus. When you provide adequate, you gain more loyal customers.
These loyal customers provide positive endorsements and good reviews that help strengthen
the particular business or brands. Customer service is a component that many
businesspersons underrate and ignore. Good customer service can range from promptness,
politeness, professionalism, and personalization. Customer service defines the management
of a particular business, and if the service provided to customer impresses them, marketing
outcomes will be better. Customer service is also one of the most crucial components in the
marketing mix because it allows business owners to improve their weaknesses based on the
customer’s feedbacks. A salesperson can analyze whether their customer service component
in your marketing field allows you to statist if your business is running well or not. Good
customer services and bring connections and trusted relationships with customers, allowing a
free promotion to a product or a brand. Although there are many different types of customers,
if they are treated as they expected, the marketing sales would likely rocket as you’ve favored
them. If you don’t satisfy your customers, they could leave without buying a product even if
they are interested in it. It is essential to consider the service component of sales because it is
one of the underrated purchasing a product. During a technological time like today, customers
can post a review of an item or a brand online, and depends on the customer service
provided; the marketing outcomes could be positive or negative in a short amount of time.
Assessor Comments: Satisfactory/Not Satisfactor

Activity 6
In 400 words explain why it is important to identify specific characteristics of a potential
customer base and any key pressure points applicable to the customer base. You might need
to conduct your own research.
In the marketing sector, there are many transactions between the marketing company and a
buyer. There can be many different types of buyers in a marketing focus, so it is crucial to
make sure that your promotions of a product or a brand reach a specific target. To know your
target, you require an analysis of who buys your products; this analysis is called a customer
base. A customer base is one of the components of a marketing mix, which consists of all
information of the consumers of a brand, company, or organization. When you have a firm
customer base, you know certain things about your market target like:
(a) the needs
(b) the expectations
(c) who the buyers are
(d) why they buy
(e) where they are from- and so on.
These are some of the mild points that helps a business run smoothy as it supports the
production and manufacturing of the customer’s products. Having a customer base allows you
to reform your organization if needed, like the customer service, promotions of a brand or a
product, and other marketing activities and partners. It also benefits the development of an
organization as it provides information that helps amplify the products to a specific marketing
target. The customer service will maintain the momentum of the products’ quality and
quantity. However, to maintain the momentum to sellers and consumers, we also need to put
pressure points or opposing points into consideration. Pressure points are external pressures
that the marketing organization cannot control, but can improve by adding more strategies to
fix. The pressure points depend on the customer’s behavior and opinions. A business is not
one sided; a positive outcome can only be seen, if both parties have the same momentum. As
the marketing team cannot control how the customers react, they can look over the customer
base for solutions and improvements. When a business organizer cannot identify a
customer’s pressure point or does not know what a customer base is, the business will be in
shambles and go out of business. Identifying the importance of a customer base helps a
business organizer quickly point out the needed improvements in their business. It also helps
them with how they address their target audiences.

Activity 7
Consider a product or service with which you are familiar. For the product or service you have
chosen, you have been asked to help design the research procedures that will enable data
collection and analysis of the effects of the different components of the marketing mix on
each other and of their importance to the customer base.
Nominate the sources of data (primary and/or secondary) you would choose to access and
explain why you would use those sources.
What data would you collect? What procedures would you follow to analyses it?
How would you use the results?
Where necessary conduct your own research and remember to cite and reference
appropriately.
Marketing strategies usually depend on four (4) parts and These four (4) play a very
important role in any business:
1- Price
What it costs is the price of your product. Sellers aim to charge the maximum amount
feasible, while consumers want to pay the least amount feasible. The product price is a
compromise between what vendors desire and customers. The pricing is somewhere in the
centre. The trick is to locate that sweet spot, since pricing your product or service correctly is
critical. If you charge too low, you may have a large amount of sales yet lose money. If you
charge too much, your sales may suffer. This defines the price of the product selected for the
business and helps to promote it with other competitors in the market.
2- Product
Product is what you sell, whether the things are physical or intangible. However, when
considering your product, you need also consider the consumer experience. A product can be
anything for example, a ball or an iWatch. It depends how you market the product. Everything
like features, advantages and benefits depends on it.
3- Promotion
The best product is not enough and the right pricing alone. The promotion comprises all you
need to communicate your products and services to others. Promotion is the main structure of
any product available in the business. If there is no promotion about the product you are
selling then there will be no consumer. This is something that tells the customers about the
benefits of the product that will increase the purchasing behavior in the market with other
people.
4- Place
The place of your goods is critical. From a marketer's standpoint, it's the site of your product
or service's distribution, whether it's a brick-and-mortar storefront or an internet store. This
considers a place where you can market your product with the targeted audiences or different
kinds of people. For example, if you are selling a ball then you need to find the young people
to market your product so place plays a very important part in terms of marketing the selected
product.
These four (4) factors account for the market mix, which influences the business's operations
and modes of distribution. This pertains to the manner in which buyers and consumers
receive and react to the price set by the individual or business selling the goods.

There are few steps for data collection in any business which includes:
1- surveys
2- internet marketing
3- focus groups
The product will be dependent on these three (3) circumstances. First we will take out surveys
about the product selling related to the market behavior which includes people from different
age and gender. After that, people are going to tell us about the needs of the product or the
things they expect before buying the selected product through surveys which helps the
organization to collect the data and work it on from the feedback. Second, internet marketing,
which is such an important part in today's business. The product testing is necessary like how
the targeted audience is reacting on the launch product which includes the promotion of the
program and this helps people to better understand about the key features and benefits of the
product and lastly, target audience is important in terms of marketing the product cause this
tells you about the behavior of the people.
This whole process is a part of the marketing mix which helps to collect the data and proceed
according to the given responses from the targeted audience. This will determine the
promotion of the product is going well or is there something more we can add in terms of
marketing the product. Results will enable us to reach the goal of our product like how its
affecting the market and based on the results, the company can make an accurate
determination regarding to the success of the product but still there are some points of
consideration which includes:
1- The target market is not always the whole market so the business might extend
somewhere else according to the need of the product.
2- This will improve the effectiveness of the product in terms of investment and development.
3- The main goal was to test the market with the given price to help it to reduce the product
price which means less investment risk at all.

Activity 8
List at least seven internal and seven external environmental factors that might be considered
in a PEST or SWOT analysis. Conduct research if it is necessary.
Internal Environmental Factors

Human Resources
Technology Resources and
Dependencies
Financial Resources
Employment management
Labor Manage
Financial Forecast
Physical Assets (e.g. equipment and tools)
Instructions and Policies
Communication amongst owners and employees
Promotions
External Environment Factors
Customer’s Opinions
Economy
Politics
Public Audience
Marketing and Media
Competitor and Rivals
Advance in Technology
Ethical Issues
Regulatory bodies
Natural Resources
Why is it important to conduct this type of analysis?

It is important to conduct an analysis of internal and External Factors because the business
environment is the impacts that affect a business’s process, rate , vision, strategy and
outcome. Analysis like these helps configure the outcomes of a business. Configuring the
factors that influence a brand, products, services and other business factors helps foresees
an organization’s future. Knowing the PEST and SWOT well benefits in knowing how effective
the marketing mix is beside the external factors.

Activity 9
In a short paragraph explain how organizations can identify can identify the customer
priorities, needs and preferences that are likely to affect the marketing mix.
In the marketing field, it is important to identify the customer’s priorities, needs, and
preferences. To identify these, there are a few workable methods that help organizations
analyze their marketing mix. Advanced technology has improved the ways organizations
identify the consumer’s preferences. As technology improves, e-marketing and online
marketing have become a trend, allowing customers to browse through their favorites and
preferences. Online, cookies and tracking tools like URLs are saved to help organizations and
businesses record their consumers’ priorities. Other ways that allow the organizations to gain
information about their consumers are through online surveys interactive advertisements.
Such components promote brand awareness in the online community, as audience targets to
visit sites. Especially when a product is sponsored by an influencer, for example, the
audience becomes interested as they urge to click on links, websites or emails. Sponsoring is
a sort of partnership through social media, as it promotes products and conversations
between organizations and consumers. Things are easier with technology compared to non-
digital business format. For non-digital business format, analysis can be taken to account by
keeping track to account of different processes. However, to improve your business, both
internal and external factors must be taken into account. To collect the information of the
factors as a non-digital organizations, methods like surveys, sales figures , focus groups,
promotions, brand events, tokens, and slips help organizations informed about their consumer
and their intra-statistics. By using these methods, consumers will give authentic feedbacks
based on how they were treated and how much a product or a service have impressed them.

Activity 10
Product Life Cycle is a useful concept to use when determining what resources should be
allocated for promotion, distribution and service variations. Explain why and explain also what
PLC actually is. (400 words)
In the product life cycle (PLC) describes the life of a product in the market concerning
commercial costs and sales measures. It goes through four phases, involves many
professional disciplines, and requires a multitude of skills, tools, and process. This is not to
say that product lives cannot be extended – there are many good examples of this – but
rather, each product has a ‘natural’ life through which it is expended to pass.
There are four stages in the product life cycle; the introduction phase, the growth stage, the
maturity stage, and the decline stage.
(1)Introduction stage
A stage when a product can benefit from high-level exposure so that it becomes popular
among the customers. During this stage, promotions are made to inform and make familiar
with the products to customers.
(2)Growth Stage
A stage when the production and selling rate sprints off as more competition center the
market. There will be a decline in prices as it persuades customers will continue to purchase
repeatedly.
(3)The Maturity Stage
A stage where the sales growth decline. As the market is prone to a particular product,
customers stop buying, and producers eventually leave the market. However, sales will
continue among loyal customers.
(4)Decline Stage
A stage where sellers choose to decrease the price of a product in order to delete the product
from a market. In this stage, new products will start taking over the market, which means the
previous product will be no longer valuable or almost no cost. This stage is when sellers
purposely reduce the price to get rid of the old product in order to give to a new life.
The Product Life Cycle depends on pricing, promotions, distribution, and services to fit into a
target market. The Product Life Cycle identifies when a new product should be idealized and
produced. A product must have both qualities that satisfy the customers needs and quality
that impresses the customer’s desire – this means that the product must have a good design
and use.


Activity 11
In a short paragraph explain how an organization can select a marketing mix that satisfies
their target market and meets marketing objectives.
To satisfy a target market and meet the marketing objectives, an organization must have the
right marketing mix. You must look into external environment factors that are the main
strategies of satisfying a target market. The few conditions that help an organization select a
marketing mix are:
The products and the service of an organization must have good quality and must also
provide fitting uses for customers.
The cost of the product or service must be reasonable. A good way to keep a price range is
by setting a range for wholesale buyers and retail buyers. Wholesale buyers will buy a large
quantity of a product if the price is reasonable. The targeted products and services of a
customer must be accessible at the place and time he/she wants.
The target marketing group must also keep in mind that the product can die out depending on
promotions and trend.
By following this marketing mix, the products or services will meet the qualified standards that
the target markets want- the production and selling will be successful. Adjustments must be
made according to the changing behavior of different marketing targets and consumers.

Activity 12
You are working for an organization that sells financial services which include insurance,
superannuation, investment portfolios, retirement fund management etc. by comparison with
competitor companies the cost of the services is quite high. They are located in the central
business district.
The marketing mix for the organization includes advertising on television and they have a
website customer can go to gather information. Customers are expected to respond to the
advertising and internet messages by contacting the company to organize a time for face-to-
face interaction.
The number of contacts has been very low lately and the organisation’s marketing objectives
are not being achieved.
The marketing manager is considering making changes to the marketing mix and has called
you all in to the boardroom to present monitoring data and analyses and to discuss options.
As a result of the discussion it is decided to isolate components of the marketing mis in
relation to marketing to market factors and customer response.
How would you do this?
What data might be presented and what options might be looked at? Give sound reasons for
your answers.
What actions might be taken to change the marketing mix and why might this be necessary?
Consider price, product, promotion and place. How do you think would help? (400 words)
The main purpose of collecting the data in terms of promotion is to find the risk inside of the
business. According to the given case studies, the organization is not quite well doing
because of their poor responses from the customers. The main thing in the business is to
achieve the target and goals from the selected targeted audience. If the customers are not
following the marketing promotion which is displayed on television or through their website,
then that means the organization is missing some of the key points.
The first reason about the advertising which is displayed on television might not be clear like
for the customers, it makes them feel confused after watching the product marketing and cost
is linked with this kind of marketing which means the more you pay the more they pay the
advertisement of the product. In that, the organization is not taking it seriously plus delaying
the payment of the advertisement and there is no communication thing between the seller and
customers like contact no about the product and business.
The other reason can be about the organization website. The customers feel difficult to use it
or give any feedback because the components on the website are not arranged and the
website is not attracting the customers due to the color and font style which is ugly. Some of
the key features on the website also not responding so that might develop the problem where
the organization is not achieving the targets. Organization functions require proper monitoring
and procedures to make sure they are going according to the plan.
In any business, the marketing objectives should have been clearly identified before
launching the product and in this situation, the marketing team failed as if they didn’t follow up
the process of the given products. Considering the four (4) P’s price, product, promotion and

place: Thebutterfly theory which states that the small change can bring large differences in
larger state so according to all this, the organisation needs to revalue their marketing
strategies for example, the television advertisement they need to make a bond with the
customers by giving them proper piece of information about the product and all the details
about the features. The marketing team has to advise them about contacting the organisation
by any means of confusion and they should implement ansms system for all the targeted
audience. The organization also needs to evaluate the cost of the product as it is higher for
the customers. They should implement some more marketing tactics which includes social
media marketing and making the website up to date with the latest features where the user
can find information easily and make the content interesting by applying some traditional
colors or putting ads on the website. They also need to advertise the product according to the
targeted people which means the place.
All these factors are highly important for the marketing team to adopt in terms of achieving the
goals and targets of the organization.


Activity 13
In 300 words explain the procedures that might be followed to develop a marketing budget
and use it to monitor marketing success. When might it need adjustment?
In terms of marketing expenditure, companies and enterprises vary greatly, however there are
numerous typical approaches for determining which kind of budget would apply. The budget
may be determined based on what the firm believes can be financed. This is not especially
logical, does not aid in long-term budgeting, and rejects the notion of advertising as an
investment. Some firms or organizations base their budgets on a certain proportion of
revenues. This has various benefits, the most important of which is that it pushes
management to understand the concept of the link between marketing expenses, product
cost, and profit. A competitor technique might be applied. The company will strive to spend a
certain amount as its rivals. This is not continuous since detecting rival expenditure is tough,
and reputation, opportunity, and sources will alter the objective-and-method. The task
approach directs the sales team to create a budget set of specific marketing goals. The
department is tasked with determining one of most expense strategies to achieve the goals. A
company's marketing budget should not be restricted to implementing marketing expenditures
such as promotion, brand management, digital ads, and discounts. It should design proper
marketing strategies and establish expenditures for each element of the plan in terms of initial
expenses, continuing expenses, media expense, and documenting and reporting marketing
activities. When creating a budget, the management team could make a list of the many
elements of the marketing endeavor, such as investigation, experimentation, innovative
creation, communications, and monitoring. Calculate the expenses of acquiring market data,
generating customer information, analyzing rivals, and so on. Calculate Include goods offers,
opinion polls, the development of several item types, the sale of new things in small
quantities, and follow-up questionnaires. Determine the expenses of a stimulating campaign
that will deliver the brand message to the purchasing public. Include the expense of design
concept for branding, advertisements, sites, and other promotional materials. Evaluate the
prices of preferred media purchases, such as print advertisements, internet banners, and
television and/or radio advertising. Consider email marketing, trade exhibitions, public affairs,
competitions, and promotions, as well as the cost of developing and implementing a website.
Evaluate the price of control and tracing communication activities. This might involve
purchasing a site analytics packages, visiting merchants that offer the product, gathering
customer feedback, or doing consumer telegraph surveys. Add up all of the estimates and, if
required, figure out where you can reduce down. Make a spending model that links the
marketing budget to a proportion of sales and allows you to track sales performance. If the
marketing strategy alters or it will become essential to update elements of the marketing mix
in order to research outcomes and global economy assessments, a budget proposal may be
developed, or the present budget may be altered. Monitoring activities is vital to achieve that
the marketing mix satisfies financial criteria.

Evidence Summary sheet
Participant Name Kyeemyint
Trainer/Assessor Name Vino
To be judged as competent participants must have a satisfactory result recorded for each
assessment activity. If a result of not satisfactory is recorded for any assessment task, the
trainer/ assessor will determine whether additional training and/or assessment is required.
Formative assessment – Activities

The participant provided the necessary knowledge evidence to address the requirements for
the elements and performance criteria.
Satisfactory Not satisfactory Not applicable
Summative assessment – Activities and Projects
The participant provided the knowledge evidence and where appropriate, the performance
evidence.
Overall result

Feedback for participant
I have received feedback and been informed

of the assessment result and the reasons for
The participant has been provided with
the decision.
feedback and informed of the assessment
result and the reasons for the decision.
I agree with the assessment result and any
resulting actions.
Trainer/ assessor
Participant signature
signature
Date Date

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Introduction to Marketing Mix

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Resources required to undertake this assessment

Participants must have access to these resources:

Participants should respond to the formative and summative assessments either

Participants should also undertake observable tasks that provide evidence of

Assessors must clearly explain the required performance standards.

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Unit title Introduction to marketing mix

This unit describes the skills and knowledge required to

Assessment must be conducted in a safe environment where

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

Looking at the price determination, it is categorized into 4 Cs such as Consumer, Cost,

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactor

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

How would you use the results?

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Internal Environmental Factors

Assessor Comments: Satisfactory/Not Satisfactory

Why is it important to conduct this type of analysis?

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

(3)The Maturity Stage

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

How would you do this?

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Assessor Comments: Satisfactory/Not Satisfactory

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

Trainer/Assessor Name Vino

Formative assessment – Activities

Satisfactory Not satisfactory Not applicable

Summative assessment – Activities and Projects

Satisfactory Not satisfactory Not applicable

Satisfactory Not satisfactory Not applicable

I have received feedback and been informed

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

MKG502 Assessment Workbook Version No. 1.0 Produced August 2020

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