Module 5

Term and Year Term 1 2020

Qualification : BSB50215 Diploma of Business

Unit Code: BSBMKG501

Unit Title: Identify and evaluate marketing opportunities

Task 1: Case study & short questions

Assessment
Task 2: Short questions

Student Name: Vikram

Student ID No: v20190171

Assessor’s Name: Tanmaya joshi

Assessment submission (new) requirements

Please save this file as PDF format(include your name to the filename) before uploading onto
Moodle.

Assessment deadlines penalty

It is expected that unless a simple extension, special consideration or disability services adjustment
has been granted, candidates will submit all assessments for a unit of study on the specified due
date. If the assessment is completed or submitted within the period of extension, no academic penalty
will be applied to that piece of assessment.
If an extension is either not sought, not granted or is granted but work is submitted after the extended
due date, the late submission of assessment will result in a late penalty fee. For further information,
please refer to the Assessment Policy.
Assessment/evidence gathering conditions

Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A
student can only achieve competence when all assessment components listed under procedures and
specifications of the assessment section are Satisfactory. Your trainer will give you feedback after the
completion of each assessment. A student who is assessed as NYS is eligible for re-assessment.
Should the student fail to submit the assessment, a result outcome of Did Not Submit (DNS) will be
recorded.

Principles of Assessment

Based on Clauses 1.8 – 1.12 from the Australian Standards Quality Assurance’s (ASQA) Standards
for Registered Training Organizations (RTO) 2015, the learner would be assessed based on the
following principles:

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Fairness - (1) the individual learner’s needs are considered in the assessment process, (2) where
appropriate, reasonable adjustments are applied by the RTO to take into account the
individual leaner’s needs and, (3) the RTO informs the leaner about the assessment
process, and provides the learner with the opportunity to challenge the result of the
assessment and be reassessed if necessary.

Flexibility – assessment is flexible to the individual learner by; (1) reflecting the learner’s needs, (2)
assessing competencies held by the learner no matter how or where they have been
acquired and, (3) the unit of competency and associated assessment requirements, and
the individual.

Validity – (1) requires that assessment against the unit/s of competency and the associated
assessment requirements covers the broad range of skills and knowledge, (2) assessment
of knowledge and skills is integrated with their practical application, (3) assessment to be
based on evidence that demonstrates that a learner could demonstrate these skills and
knowledge in other similar situations and, (4) judgement of competence is based on
evidence of learner performance that is aligned to the unit/s of competency and associated
assessment requirements.

Reliability – evidence presented for assessment is consistently interpreted and assessment results
are comparable irrespective of the assessor conducting the assessment

Rules of Evidence

Validity – the assessor is assured that the learner has the skills, knowledge and attributes, as
described in the module of unit of competency and associated assessment requirements.

Sufficiency – the assessor is assured that the quality, quantity and relevance of the assessment
evidence enables a judgement to be made of a learner’s competency.

Authenticity – the assessor is assured that the evidence presented for assessment is the learner’s
own work. This would mean that any form of plagiarism or copying of other’s work may not
be permitted and would be deemed strictly as a ‘Not Yet Competent’ grading.

Currency – the assessor is assured that the assessment evidence demonstrates current
competency. This requires the assessment evidence to be from the present or the very
recent past.

Resources required for this Assessment

• All documents must be created using Microsoft Office suites i.e., MS Word, Excel, PowerPoint
• Upon completion, submit the assessment via the student learning management system to your
trainer along with the completed assessment coversheet.
• Refer the notes on eLearning to answer the tasks
• Any additional material will be provided by Trainer
Instructions for Students

Please read the following instructions carefully

• This assessment is to be completed according to the instructions given by your assessor.

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• Students are allowed to take this assessment home.
• Feedback on each task will be provided to enable you to determine how your work could be
improved. You will be provided with feedback on your work within 2 weeks of the assessment
due date.
• Should you not answer the questions correctly, you will be given feedback on the results and
your gaps in knowledge. You will be given another opportunity to demonstrate your knowledge
and skills to be deemed competent for this unit of competency.
• If you are not sure about any aspect of this assessment, please ask for clarification from your
assessor.
• Please refer to the College re-assessment and re-enrolment policy for more information.
Procedures and Specifications of the Assessment

Task 1

The candidate will demonstrate skills and knowledge required to investigate marketing opportunities.

You will analyse a real organisation or simulated business to identify two marketing opportunities,
research potential new markets, assess opportunities with respect to contribution to the business,
and explore innovative approaches. You will then prepare a brief presentation for marketing peers to
support and explain the two marketing opportunities you have identified.

You may base your analysis and report on BBQfun simulated business and requires you to identify
and evaluate marketing opportunities for your chosen organization or utilizing the BBQfun case
study. Identify two marketing opportunities for the organisation on your chosen organisation’s market
and business needs in terms of:

• comparative market information

• competitors’ performance
• customer requirements
• legal and ethical requirements
• market share
• market trends and developments
• new and emerging markets
• profitability
• sales figures

Task 2
To complete the unit requirements safely and effectively, the individual must:

• Identify and document changes needed to current operations to take advantage of viable
marketing opportunities
• Estimate resource requirements for changed operations
• Determine and communicate the viability of making changes to current operations to key

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 stakeholders
• Document newly identified marketing opportunities and required changes

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 Task 1

• Identify two marketing opportunities for the BBQfun’s market and business needs in terms of:

Characteristics Overview What does it mean for BBQfun?

It means BBQfun requires a wider

selection for customer choice. It has to
meet the needs of customers with easy
access facility and make some
uniqueness due to growing competition in
the market. The customers should be
provided with the privilege to access the
o High population growth of 5% stores with less inconvenience. The
per year competitive pricing is one of the important
matters to focus. The products and
• Queensland o New homes and renovated
services are required to priced
overview homes growing from a base
of 50,000 per year competitively in relation to the priced
a. comparative market information

offered by the competitors of high-end

o Low unemployment of 4.7%. outdoor lifestyles products (Adams, 2017).
The growing homes per year hold great
disposal of the household income from
the two income families. The low
unemployment rate of the company
provides proof of continuous price rise
with the disposable income of the
population.
The geographic market characteristics of
BBQfun has meant to promote the
business and expand the market across
Australia. It has measured the strategy to
extend and establish the geographic
o Our immediate geographic
target is the area of Brisbane
market within the broader customers of
with a population of 2,000,000 the country that should have the potential
customer base within the different
o A 30 km geographic area is preferences of the customers. As per the
Geographic
the average store market growing population 5% per year the
footprint company has decided to divides the
o The total targeted population business in the market. The geographical
is estimated at 450,000. segmentation is a useful area wise. It may
overcome the competition by making
double of its market share. The footprint
of the store market is required in those
geographical areas.

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 o Male and female
o Ages 20–50
The company is going to meet the various
o A high percentage of young types of demands for both men and
professionals who work in the women. The company has selected and
central business district targeted the people aged between 20-50
Demographic years as they hold a stable income. It
o A high percentage have
completed means that BBQfun is proceeding as per
undergraduate/postgraduate the study of demographic that effects on
study the company profitability.
o An average household
income of over $70,000.

it means that the competitors of BBQfun

o Has a limited selection but have made all the possible way to attract
significant depth. the customers and retain them. Though,
o All Australian made and no few selection options of Yard would make
b. competitors ‘performance

significant marketing or the company lack in the marketing that is

promotion. a failure to get the customer attention.
o The price point is high, but The yard is not extending its business in
the quality of the products is the region of Queensland, which may be
quite good. a positive turning point for BBQfun to rule
The Yard
market all alone(Bender, Delia and
o Not in south east Queensland
and considering e-commerce Majumdar, 2019). The e-commerce
options. segment and strategy of the company
Yard follows an efficient business and
o A considered potential treat
marketing technique that will attract a
for entering the market
through e-commerce because huge number of customers. It has a large
of the large distribution network distribution that is beneficial for
network company business growth and market
expansion.

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 Characteristics Overview What does it mean for BBQfun?

It has extended its selection for two more

o A broad range of outdoor products in the outdoor lifestyles that
lifestyle products, including include trinkets and furnishing. This may
trinkets and furnishings. be a unique strategy to attract the
o Lots of cheap imports and customers and retain the base of the
concentrating on customer as the customers are getting a
established markets. variety of products and selection. To
establish a market, it has reduced the
BBQ’s R Us o Strong in the replacements
segment.
imports item charges that will provide a
negative impact on BBQfun. BBQ's R Us
b. competitors ‘performance(cont.)

o Has one store in Brisbane is holding a significant strategy that

as mostly in Melbourne and
provides strong replacement segments to
Adelaide.
the customers. It has a growing its
o Considering e-commerce concerns over expanding its wings in the
options. region of Brisbane, Adelaide and
Melbourne.

o Large operations of only a

few stores per city.
It follows a unique strategy as it does not
o Mass markets outdoor
import products, but at the same time,
lifestyles at good value
some negativity persists with it. Many of
prices as there are no
imported goods. the customers nowadays are looking for
other foreign brands that can be achieved
o Extensive advertising and
by the import facility of the local
its goods are pitched at low
Outdoorz companies. There is extensive
to medium quality.
competition in the market that has to face
o Strong in the replacement by Outdoorz. It is a matter of concern for
segment rather than new BBQfun as the company is growing in the
and refurbished dwellings.
part of Brisbane and establishing the e-
o Gaining strength in the commerce (Chen, Sohal and Prajogo,
Brisbane market. 2016).
Considering e-commerce
options.

Factors What does it mean for BBQfun?

requirements
c. customer

Customers nowadays love to enjoy variety either for the low price products or
for the high price products. BBQfun has provided a wider range of products
Selection – a wide
which left no more lacking in understanding the customer requirements. It
choice of options.
has provided the facility to get the customers under a wide variety and to
meet their demands for the selection and purchase of the particular item.

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 Accessibility – the It has provided high accessibility to its customer base, which is no doubt an
customer needs important option for the customers to get the choices and selection as per the
easy access to the minimal inconvenience in the stores. The price segment of BBQfun is
store with minimal considered according to the selected market requirement (Clareand Uddin,
inconvenience. 2019).

Customer The company has to provide the consideration on the pricing segments
service – the based on the competitive perspective and influence. The price of the
customer needs products and the services are required to be changed as per the competitive
expert customer
pricing influence. The quality of products and services can be given to the
service to help sort
customers to meet customer expectation and demands easily. The guarantee
through choices.
on the products that have been imposed by it has a potential marketing
strategy to expand the market.

Factors What does it mean for BBQfun?

Competitive Competitive pricing has a good impact on BBQfun as the products and the
pricing – the
pricing of the services will be compatible with the market and other
customer needs all
competitors. The customers are nowadays very alert and concern about the
products/services
c. customer requirements(cont.)

to be competitively pricing and are prone to make a shift. To prevent customers from shifting to
priced. another company, it has definitely maintained a good strategy (Clow, 2016).

Flexible payment – Flexibility in payments and scheme of flexible payments is a good part for the
the customer company. It is preferred by many customers that understand the market
needs easily accordingly. The customer demands and requires the flexibility of the
managed payment
payment plans that is needful. BBQfun flexible payment and other payment
plan.
schemes provide helpful customer service to the entire targeted customers.
The payment terms are convenient for customers while purchasing products.

Quality The quality guarantee proposed by the customers is an essential scheme

guarantees – the that has been performed by BBQfun. It has maintained the level of trust to
customer requires the customers regarding the products and services. This is undoubtedly a
three year product
good approach taken by the company to retain customer trust and a good
guarantees (as
relationship with them. Though, it has been offered by most of the
offered by most
competitors). competitors still BBQfun is required to manage it in a better way to stick in
the competition (Cooperand Spence, 2020).

In the case of BBQfun’s marketing performance, we can see from the table below, suggesting its
findings of a survey of 500 customers as follows:

Survey questions New Renovator Replaceme What does it mean for BBQfun
builds s nts

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 BBQfun requires to pay attention in the
Have visited sector for replacement because the
BBQfun in the 70% 70% 50% market share is low in this sector.
previous month

The good market share of BBQfun should

Have bought a maintain the customer base in the future.
BBQfun product (Edeling and Himme, 2018).
70% 65% 50%
in the previous
month

The customer service facility is good of

the company.
Customer service
90% 95% 60%
is essential

From the survey it is recommended that

the company should be more careful and
Price is the most sensitive with price.
10% 20% 95%
important

The company wins over the trust and

market of Australian made products to
Australian made sell them (Fayezi and Mirkovski, 2017).
80% 65% 55%
is important

The e-commerce platform for trading is

operated by BBQfun properly.

Will buy online 100% 100% 100%

The customers are showing a loyalty for

e-commerce and online delivery is ready
Will pay for to provide payment by BBQfun.
online delivery 100% 100% 100%
if chosen

It has earned a low level of loyalty

customers that requires to be achieved by
Loyalty the customers through the value creation
30% 20% 10%
customer in the company.

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 Types of What it is about: How does it impact BBQfun
legislatio
n
This act includes the areas of the
The BBQfun requires to attend the
Competition and Consumer Act

market and makes the relationships

between the suppliers, wholesalers, service of after sale to its customers.
retailers and customers. It provides
coverages over the safety of the
products and the labelling, the price
monitoring part, the codes of
2010

industry, the industry regulations

and market practices that are not
fair. It denotes the industry
regulations within the regulations on
the airports, electricity and
telecommunications (Hogarth,
Hutchinsonand Scaife, 2018).

The e-commerce model in Australia The BBQfun requires incorporating the

Australian e-commerce model

is implementing some best practices laws of e-commerce regarding the trade.

into it. The government attempt to
make the model easy and reliable by
using the electronic communications
in the business. The model is a set of
guidelines that are required to follow
by a business entity and it has such
core values and standards. The
purchase decision is made on
comparing business online (Jain, and
Theetha, 2016).
e. market d. legal and ethical requirements

It meets the leading industry The BBQfun requires following the needs
Association - Direct Marketing
Australian Direct Marketing

standards that are relevant to the according to the norms (Jin, Li, and
business growth in future. The ADMA Cheng, 2018).
Code of Practice

code currently maintaining the

industry needs for flexibility. The
code development was discovered to
set the standards and marketers for
reducing the breaching and set the
benchmarks.

BBQfun’s comparative market information is largely determined by independent

share

competition where it focuses on locally produced products and they have a collective
market share of 48%. In 2009, the national outdoor lifestyle market reached $300 million.
Outdoor lifestyle sales were estimated to grow by at least 6% for the next few years.
This growth can be attributed to several different factors:
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 Factors What does it mean for BBQfun

The more purchasing power among the

Australian citizen is growing with the increasing
The higher disposable household
income from two income families disposable income of the individuals.

The Australian market provides the facility of

The greater availability of affordable and greater availability of a wide range of import
interesting quality imports with the high products according to the reasonable prices and
value of the Australian dollar the affordability of the customers.

The regular TVprograms in Australia is

increasing the contribution and market share
The marketing by popular TV lifestyle through the promotion of the advertised furniture
programmes.
and lifestyles to attract the people (Lammers,
Tomidei and Regattieri, 2018).

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 Factors What does it mean for BBQfun

The customers are attracted and required a

Item quality – the preference for high
variety of outdoor lifestyle products that have
quality items is increasing as
increased the quality of the products.
customers are learning to appreciate
the quality differences.
Market trends and developments

Unique – our patrons appreciate the The customersdemand unique items and
opportunity to include outdoor exclusive products.
lifestyles in their home that stand out
from the mass-produced and low-
quality items.

The customers prefer a wide range of portfolio of

Selection – people are demanding a
the products offered by the company (Li, Du and
larger selection of choices; they are no
Chin, 2018).
longer accepting a limited offer in
outdoor lifestyles.
f.

Factors What does it mean for BBQfun

The products advertisement is required to make

A growing market in a high growth the customers aware of the portfolio of products.
area with a significant percentage of
the target market still not aware of
BBQfun value proposition.
g. new and emerging markets

The extended operations by BBQfun in the

Increasing sales opportunities outside south east Queensland provides an advantage
of our store locations – south east regarding the market growth.
Queensland.

To capture and hold a large number of

customers, the company is required to
Growing opportunity for online sales. implement the e-commerce strategy
immediately.

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 Factors What does it mean for BBQfun

The Australian economy is expanding in a

Economy - the real estate market in broader way where the disposable income of
south east Queensland continues to the individuals is increasing. It will create an
rise in price, and with it the disposable impact of leading a considerable rise in the
income of the population. demand of the products and the services of
BBQfun.

The government is taking several

h. profitability

Political - the present Government measurements for helping the companies in

focus and emphasis in future their growth and development in the near future
legislative direction will be about (McKeown, et al., 2018).
growth and productivity

2014 2015 2016 How does it impact BBQfun

sales figures (forecast)

It is very obvious that the increase in sales

Total sales

volume will help the company in business

$11,000,0 $12,000,0 $15,000,0 operation expansion.
00 00 00

The gross profit meeting will help the company

Gross profit

to get its expenditure criteria.

$5,110,00 $6,500,00 $7,500,00
i.

0 0 0

Task 2

Complete the following activities individually.

1. Return on investment is the ratio of money of an investment relative to the amount of money
invested. Provide a brief discussion on:

Its average rate of return is the annual amount within the cashflow that generates
a. The average rate against the investment. The rate is calculated with the consolidation of expected
of return cash flow and divides by the number of investment years that is expected as the
last (Nolan, 2017).

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 It is implemented to derive the initial cost of investment recovery. It is considered
to be a technique of capital budgeting. The number of years for which the project
b. Payback period investment is made is required to get back. It is the simple calculation of the time
against which the time of initial investment can be derived to return.

This value exists between the present value of cash inflows and the outflows that
c. Net present takes place in the time of any project investment. The result of it may come either
value in positive or in negative.

It is a tool used in the capital budgeting profitability index. It provides the rank to
d. Profitability the projects as per the profitability amount. It is being calculated by dividing the
index present value of all cash inflows by the initial investments.

2. Provide a brief discussion on what are the considerations for an investment appraisal of new
opportunities:

The financial opportunities for the organization consist of the financial resources,
a. Financial including the organizational assets, bank deposits and financial investments
resources (Officer, 2018).

b. The purchase of It will provide a flow to the company operations and lowering the overall cost of the
equipment or manufactured products and services.
machines

To look ahead of the business climate and it provides the success for wealth
c. Buildings creation for the company. It will be affordable than leasing and hiring moreover;
the benefit of worry free trading is included in it.

d. Other assets for The other equipment that the company requires is the product development,
the development management, and strategy implement. It requires software asset management,
of new products new product development formula, design thinking and so on.

3. Discuss the various key investment considerations when deciding on new opportunities:

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 It provides opportunities to the spectrum of the investment management
a. Scale of the companies for being small or large. It updates the materials quarterly and helps
investment the organization to get something that can scale.

b. Length of time It depends on the return of the holding periods that covers the assets over a
before period of time. The yielding or the return calculated based on the total returns from
investment yield the assets. It is useful at the time of comparison of investment returns (Paltayian,
returns et al., 2017).

c. Length of time The length of time to pay back the investment depends on the value of money. It
to pay back the takes approximately five years to recover the investment and the payback period
investment is five years.

d. Expected profits It is the value that is derived from the difference between expected profits and
from the costs.
investments

e. Alternative The alternative investment may be from the private equity, venture capital, hedge
investment be funds, commodities and derivatives contracts. Real estate investment can be
better used considered as an alternative investment.
elsewhere

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4. New products and services have a direct effect on revenue generation which is the key reason
for a business being able to stay competitive and enabling it to reach its goal of continually
making a profit. It is therefore imperative that written plans keep the business and new product
on track. Discuss the reasons for identifying and documenting changes needed to current
operations to take advantage of viable marketing opportunities.

The process and technique of management against the new products and
a. Identify what is services. The competition has to be achieved and needs to stay competitive for
to be achieved reaching the goals to make a profit.

The viable marketing opportunities co-exist with the clarification of the ideas and
b. SMART goals the resources productively to clarify the demand for the achievement of the
organization.

The timeframe of the SMART goals is time-bound. Approximately it takes three

c. Timeframes months to complete and define and process (Payne,2016).

d. Types of Strategy, information on weakness, strength, opportunity and threats, technology

resources for e-commerce and planning.
required

Not to confine the specific elements in details. Less confidence in an employee

e. Risk analysis of and the lack of las. Personality may hamper the goals. Specific plans for the
resource company that is sufficient settings for the goal accomplishment that can be fall
requirements under risk due to lack of project budgets.

f. Stakeholder The transparent method to convey the information. The best possible manner of
communication looking into the way that is best for the company. Not to judge the stakeholders
strategy against their speech and decision.

Requires to target the demographics, establish the market research. The category
g. Revised of the business can be changed as per the demands of the business. To review
marketing plan the reason for the revenue decrease.

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5. Ensure organizational changes to service an increased or different customer base, including
provision for continued quality of service to existing customers. Discuss the possible issues
that may cause customer service to suffer:

a. Operational This can be raised from the supply chain and not confine the threats within it. It
disruption can happen due to critical event management and financial crisis of business.

The issue can arise from the rise of the products and services. The complex
b. Customer decision that has to face by the managers against the customer in the time of
inconvenience interaction. Hence, the customer may feel uncomfortable and unreliable.

c. Staff training to Lack of training for the staff does not provide enough support for the service. Lack
support of training can lead the company to a great risk due to loss of profit making. The
services lacking poor customer service can lead to a great problem.

d. Incomplete
infrastructure to It makes the business capability lower, which requires the best support through
support new products, services and practices.
product/
services

e. New product/
services The information about the new products or the services makes the process poor of
information the organization, and it cannot be better with slow and incomplete service
incomplete/ not information (Pradhanand Garg, 2018).
sent

f. Equipment/ The equipment for the task accomplishment and the operation of the business
facility not activities are required to work properly; otherwise, it can create more complexity
working for not being business-friendly.
properly

g. Inaccurate It brings bad marketing within the business organization. The inaccurate tools or
marketing the marketing resources brings the market loss, and it has several bad
resources consequences. As it brings a lot of dramatic changes in the market place.

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6. Building on your answers to Assessment Week 1, your task now is to draft out the newly
identified marketing opportunities briefly and required additional information to the company’s
marketing plan.
The marketing plan of BBQfun should be with the engagement of customers for
the promotion of the market research. Complete the customer survey and to
a. Summary identify the market opportunities. The company has built marketing opportunities
through the customer survey and market evaluation.
Strength – reputation building.
Weakness – no online business operation.
SWOT
b. Market analysis

Opportunities – increase the sales outside the store location that is in south east
analysis
Queensland.
Threat – the competition and low cost of the products.
Political – government focus on the future legislation and emphasis on the growth
and productivity.
PEST Economical – it has little affect on the disposable income of the individuals.
analysis Social – advertising and promotion to provide promotion for the company benefits.
Technological – the changes in customer buying patterns through technological
changes. This has made the disappointed sales result.

It provides a growth opportunity of the business expansion. It accurately

New
possesses the potential measurements for the business helps in the process of
segmentation

market
growing business (Schmidt, et al., 2018).
d. Market

New
It requires to assess the internal capabilities, define the market, prioritize the
business
market, develop market entry.
idea

f. New market To promote the products that derive the target market, completing the customer
objectives requirements, to define the specific target market.

g. Marketing strategies

New Present advertisement on the social media, rank in the search engine
Product

market optimization, build a marketing plan.

New
Attracted labels on the body of the products, detail information regarding the
business
elements in it with usage process.
idea
New
To provide an affordable range and all range of products from low to high.
market
Price

New
It has to ensure the quality according to price but comparing the competitor’s
business
products.
idea

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 New The promotion can be performed within the exclusive offers to the customers,
Promotion

market marketing through emails and in-store promotion.

New The promotion in the stores of south east Queensland where the competition
business is lower because of the new establishment of the business set up. Capturing
idea the target people, including the youngsters and the teenagers.
The place or geography is important and requires to understand the value of
New the products according to the demand of the customers of different ages and
market differentplaces. The choice of urban and rural customers and manufactured
Place

products accordingly would be a great task.

New
The target place can be the best options, including the target besides the
business
market, schools, colleges and offices.
idea
To the initial level, the budget of brands should be limited. The CFO Riz Mehra
has to overview the budget investment for the individual cost centres. The
l. Budget budget should include all the belongings and the essentials for the business
operation. The sales profit, investment income and marketing, communication
expenses are the major parts of the budgets.
The risk includes inventory management, unable to identify the changes in the
m. Risk external and internal environment, increased competition, unable to train the
assessment employees according to the marketing strategies.

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 Assessment Submission Checklist to be completed by the Trainer/Assessor

Unit name: BSBMKG501 Identify and evaluate marketing opportunities

Assessment: Task 1

Did the student complete and provide evidence for the following(please !): Yes No

1. Provide and present a market development proposal?

2. Provide analysis for a given case study?

3. Submit within the agreed timeframe?

During the demonstration or observation of skills/ meeting the

performance criteria, did the candidate do the following (please Yes No Assessor’s Notes(if any)
!):
1.1. Analyse information on market and business needs to
identify marketing opportunities

1.2. Research potential new markets and assess

opportunities to enter, shape or influence the market in
terms of likely contribution to the business

1.3. Explore entrepreneurial, innovative approaches and

creative ideas for their potential business application, and
develop into potential marketing opportunities

2.1. Identify and analyse opportunities in terms of their likely

fit with organisational goals and capabilities

2.2. Evaluate each opportunity to determine its impact on

current business and customer base

2.3. Use an assessment of external factors, costs, benefits,

risks and opportunities to determine the financial viability
of each marketing opportunity

2.4. Determine probable return on investment and potential

competitors

2.5 Describe and rank marketing opportunities on their

viability, and likely contributed to the business

3.4. Determine and communicate the viability of making

changes to current operations to key stakeholders

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 Feedback and result outcome for Task 1 (please ! )

Satisfactory

Not Yet Satisfactory

Re-assessment
required

Unit name: BSBMKG501 Identify and evaluate marketing opportunities

Assessment: Task 2

Did the student complete and provide evidence for the following(please !): Yes No

1. Answered all questions sufficiently?

2. Provide a brief draft for the newly identified marketing opportunities and required
additional information for a given case study?

3. Submit within the agreed timeframe?

Has the learner proven they can(please !): Yes No

2.3. Use an assessment of external factors, costs, benefits, risks and opportunities to
determine the financial viability of each marketing opportunity

2.4. Determine probable return on investment and potential competitors

3.1. Identify and document changes needed to current operations to take advantage of
viable marketing opportunities

3.2. Ensure organisational changes to service an increased or different customer base

include provision for continued quality of service to existing customers

3.3. Estimate resource requirements for changed operations

3.5. Document newly identified marketing opportunities and required changes

Feedback and result outcome for Task 2 (please ! )

Satisfactory

Not Yet Satisfactory

Re-assessment
required

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 Assessment Summary Result(please ! )

NY DN
Task 1 Observation & demonstration S
S S

NY DN
Task 2 Short questions S
S S

NY
Final Assessment Result for this unit C
C

YE
Feedback is given to the student on each Assessment task NO
S

YE
Feedback is given to the student on the final outcome of the unit NO
S

The result of my performance in this unit has been discussed and explained to me (please place a signature below)

Student Signature Date

18 March 2020

Trainer/ Assessor’s declaration: I hereby certify that the above student has been assessed by myself and all assessments
are carried out as required by the Principles of Assessments (Clause 1.8 of the Standards for RTO 2015).

Trainer/ Assessor’s Date

Initials

Appeal Process (only for mitigating circumstances)

I would like to appeal the outcome of this assessment as per the appeals procedure in the Student Handbook

Student Signature Date

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References:
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Clare, G. and Uddin, S., 2019. Corporate Image and Competitive Advantage for Apparel Companies.

Clow, K.E., 2016. Integrated advertising, promotion, and marketing communications. Pearson
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Cooper, C. and Spence, H., 2020. Adoption of Competitive Strategies in Export Processing Zone
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Edeling, A. and Himme, A., 2018. When does market share matter? New empirical generalizations
from a meta-analysis of the market share–performance relationship. Journal of Marketing, 82(3), pp.1-
24.

Fayezi, S. and Mirkovski, K., 2017. Toward supply chain agility: The case of the Australian
manufacturing sector. Supply Chain Quarterly.

Hogarth, K., Hutchinson, M. and Scaife, W., 2018. Corporate philanthropy, reputation risk
management and shareholder value: A study of Australian corporate giving. Journal of Business
Ethics, 151(2), pp.375-390.

Jain, R.K. and Theetha, S., Wipro Ltd, 2016. Method and device for determining risks associated with
customer requirements in an organization. U.S. Patent Application 14/666,636.

Jin, M., Li, G. and Cheng, T.C.E., 2018. Buy online and pick up in-store: Design of the service
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Lammers, T., Tomidei, L. and Regattieri, A., 2018, August. What Causes Companies to Transform
Digitally? An overview of drivers for Australian key industries. In 2018 Portland International
Conference on Management of Engineering and Technology (PICMET) (pp. 1-8). IEEE.

Li, Y.L., Du, Y.F. and Chin, K.S., 2018. Determining the importance ratings of customer requirements
in quality function deployment based on interval linguistic information. International Journal of
Production Research, 56(14), pp.4692-4708.

McKeown, T., Mazzarol, T., Rice, J., Soutar, G., Hanson, B. and Adapa, S., 2018. Inspiring future
workplaces: An Australian and NZ small business perspective. Small Enterprise Association of
Australia and New Zealand (SEAANZ). www. seaanz. org.

Nolan, J., 2017. Business and human rights: The challenge of putting principles into practice and
regulating global supply chains. Alternative Law Journal, 42(1), pp.42-46.

Officer, C.F., 2018. E Commerce Business Resource Proof Reading Services. Management.
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Paltayian, G., Gotzamani, K.D., Georgiou, A.C. and Andronikidis, A., 2017. Aligning customer
requirements and organizational constraints to service processes and strategies. Business Process
Management Journal.

Payne, A., 2016. Inspiration sources for Australian fast fashion design: tapping into consumer
desire. Journal of Fashion Marketing and Management.

Pradhan, D. and Garg, P., 2018. Interactions of learners and competitors with stars and the
implications for organizational performance.

Schmidt, R., Schnittmann, E., Meese, J., Müller, T., Zdrallek, M. and Armoneit, T., 2018. Identification
and evaluation of marketing opportunities for flexibility in local energy communities.

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