Discuss the advantage and disadvantage to an organization of having a broad marketing mix
Assessment 1: Writing Questions
Answer the following questions:
Question 1- What are codes of practices? What is the difference between voluntary and mandatory codes of practice? List three objectives of the Australian Direct Marketing Association (ADMA).
Question 2- Briefly explain how the following legislation is applied to marketing activities:
a) Trade practices legislation
b) Fair trading legislation
c) Consumer protection legislation
d) Import legislation
e) Sales of good legislation
f) Privacy law
g) Anti-spam laws
Question 3- Discuss the structure/form that direct marketing can take.
Question 4- Describe the advantage and disadvantage to an organization of having a broad marketing mix? Provide at least two examples of each.
Question 5- Against what kind of goals should marketing opportunities be evaluated? Provide at least five examples and briefly describe how they should be structured/quantified.
Assessment 2 – Project
Assessment Instruction:
You are marketing manager for an organization. Briefly describe the organization, its products or services and its current market. Identify two opportunities to enter new market with current or new products and two opportunities to introduce new products to your current market.
Assessment details: Write a marketing plan for your organization, address the following requirements:
1. Briefly describe the organization’s background and history.
2. Discuss the organization’s existing products/services.
3. Discuss the current markets.
4. Conduct PESTEL and SWOT analyses (see the diagram below) to identify marketing opportunities.
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5. Research potential new markets and assess opportunities to enter, shape or influence each market.
6. Calculate Retune On Investment (ROI) taking into consideration the following factors:
a) Increased staff
b) Staff training
c) Overheads associated directly with the marketing campign
d) Capital equipment
e) Regulatory and legal cost
f) Environmental levies
7. Evaluate the market opportunities in terms of:
a) Their potential contribution to your organization business
b) Their fit with your organization’s goals and capabilities
c) Likely impact on your current business and customers
d) External influences on the financial viability of each opportunity
e) Probable return on investment
f) Changes needed to current operations
g) Changes needed to maintain current quality of customer’s service
h) Resources required to make necessary change.
Observation – Market analysis report and presentation
Assessment details – You are to make 10 minutes presentation which cover an overview of market trends and development of the organization’s current performance and a forecast of emerging market needs.
