Assessment Tool Establish and Adjust Marketing MixBSB50215Version 1.0July 2016ContentsAssessment…

Assessment Tool Establish and Adjust Marketing MixBSB50215Version 1.0July 2016ContentsAssessment Information 2Pre-assessment Checklist 4Assessment Submission Sheet 5Assessment Event 1 – Short Answer Questions 6Question 1 6Question 2 6Question 3 6Assessment Event 2 – MyRTO Simulation 7Task 1: Evaluate Each Component of Marketing Mix 7Identify key characteristics of the Change Management training program 7Review pricing policy and analyse pricing variables to determine their effect on demand 8Analyse promotional methods to determine their importance to marketing outcomes 9Review channels of distribution and estimate their significance to marketing outcomes 9Identify and analyse level of customer service provision to determine its significance to marketing outcomes 9Identify potential customer base and key pressure points 10Analyse and test the effect of the components of marketing mix 10Task 2: Determine Marketing Mix for Specific Markets 11Identify and assess environmental factors, and their impact on marketing mix 11Identify consumer priorities, needs and preferences affecting marketing mix 11Evaluate marketing mix variables against objectives, target market and positioning 12Select marketing mix that best satisfies target market and meets marketing objectives 12Seek approval to the marketing mix decision 12Task 3: Monitor and Adjust the Marketing Mix 13Monitor marketing mix against marketing performance and isolate components for testing 13Evaluate implications of altering components of marketing mix 14Adjust components of marketing mix in response to test results and market-response evaluation 14Ensure adjusted marketing mix meets budgetary requirements 15Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning 15Task Outcome Sheets 16Assessment Event 1 16Assessment Event 2 – Simulation 17Student Feedback Form 18Assessment InformationWelcome to your Student Assessment Workbook for BSBMKG502 Establish and Adjust the Marketing Mix.This Student Assessment Workbook is where you will write all your answers for the knowledge questions and simulation tasks. Please refer to the Student Assessment Guide for more information.This assessment has the following two events:Assessment Event 1 – Short Answer QuestionsThere are three questions that will provide us with evidence on your general knowledge of principles and concepts of marketing, elements of marketing mix and statistical techniques used in market intelligence.This assessment is completed in your own time and by a submission date provided by your assessor. You may use support material in the development of your answers, but you must indicate the source. In addition, you must notcut and paste answers from your source, rather, use your own words, unless it is a direct quote.Assessment Event 2 – Simulation: MyRTOYou will complete a number of tasks in evaluating, developing, monitoring and adjusting a marketing mix for a Registered Training Organisation (RTO), MyRTO. These tasks will be based on your role as a Marketing Officer in asimulation for MyRTO, an Australian RTO that provides a blend of accredited and non-accredited training.To complete the simulation, you will need to refer to the following resources:Strategic Marketing Plan This document provides detailed information on MyRTO’s strategic initiatives. It includes critical information about the current marketing mix, desired positioning, external landscape, budget, etc. You will use this document throughout the simulation to analyse the current market environment and determine the most suitable marketing mix to ensure MyRTO’s organisational goals are achieved.Budget Template This document is a template provided in the format of an Excel spreadsheet. You will use this spreadsheet template in Tasks 2 and 3 to calculate the budget required to successfully execute the marketing mix.Market Response Data This data provides insight about the success of the marketing mix. You will use this data in Task 3 when evaluating the components of the marketing mix in relation to market factors and consumer response.Marketing Policy andProcedures Policies and procedures to ensure marketing practices are conducted ethically andlawfully. You will need to refer this when establishing the marketing mix.Please note that your responses for both assessments can (where appropriate) use dot point format. See below of an example of a dot point answers and a full sentence:Dot point format Presentation Plan includes the following:• outcomes• needs of the audience• context.Full sentence format When you are preparing for a presentation, there a number of tasks that must be carried out. These are listing the outcomes that you want to achieve, followed by the identification of the needs of your audience. When you have completed these two tasksyou then check on the room that you will be conducting the presentation.Note that to be deemed competent for this unit, you must achieve a satisfactory outcome for all of the assessment questions and tasks. This includes meeting the following conditions:• you must complete all of the tasks outlined in this Student Assessment Guide document to the standard indicated in the Performance Requirements; these are listed under each of the tasks• you will then submit your completed workbook to your assessor electronically (note, your assessor may allow you to submit Assessment Event 1 and receive feedback before starting Assessment Event 2)• you must perform the above two points within the given timeframes by your Assessor• you must complete both assessment events and submit by the deadline specified by your Assessor• your work must be your own work and in your own words• where you use to an external source, you must provide citation.Pre-assessment ChecklistYour assessor will go through the assessment for this unit, BSBMKG502 Establish and Adjust the Marketing Mix. It is important that you understand this assessment before taking on the tasks. To confirm that you have been given this overview, we ask you to complete the following Pre-Assessment Checklist.You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm your understanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason under the ‘Comments’ section.When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that your Trainer/Assessor has discussed all of the information with you prior to undertaking this assessment.Checklist CommentsY •• NI, the student, understand the purpose of the assessment.Y •• N I understand when and where the assessment will occur, who willassess me, how and in what format the assessment will be submitted.Y •• NI understand the methods of assessment.Y •• N I understand what resources are required to successfully complete this assessment.Y •• N I understand the performance level required for each assessment event.Y •• N I understand that it must be my own work. I have been explained and understood the serious consequences in case this work is foundplagiarised.Y •• NI understand the process if I am deemed not yet competent.Y •• NI understand the feedback process and the appeals process.Y •• N The assessor has discussed with me if I have any special needs and if so what arrangements have been put in place.Student Full Name Student ID Student Signature DateAssessment Submission SheetCourse Title Course CodeUnit Title Establish and Adjust Marketing Mix Unit Code BSBMKG502Version 1.0 Created onPlease read and sign this assessment coversheet and submit it together with your assessment to your Assessor by the due date.Student Name Student IDAssessor Date DueDeclaration I affirm that all work submitted in this assessment is my own work and does not involve plagiarism or teamwork other than that authorised for any particular assessment activity. I have read the Student Assessment Handbook under Section 2 Assessment Guidelines and understood the seriousconsequences in case this work is found plagiarised.Student Signature: Date Signed: / /Assessor Use OnlyFirst Submission Date Re-submission Date Re-assessment DateS NYS / / S NYS / / S NYS / /Feedback: Trainer/Assessor’s Comments:I hereby confirm that I have been given feedback from the Assessor and I agree with the assessment outcome.Student Signature Assessor SignatureDate/ /Student Feedback on Assessment: Would you like to make any comments about this assessment?Assessment ReceiptStudent Name Student IDCourse Code & Title BSB50215 – Diploma of Business Extension Granted Yes ? No ?Unit Code & Title BSBMKG502 – Establish and Adjust Marketing Mix Date Received / /First Submission ? Re-submission ? Re-assessment ? Received byAssessment Event 1 – Short Answer QuestionsThe information contained in this assessment event lists the questions that you will need to develop a written response. These questions are theoretical and provide evidence of your understanding of principles and concepts of marketing, elements of marketing mix and statistical techniques used in market intelligence.Question 1Describe each of the five principles of consumer behaviour, and for each one, provide an example of how it influences buying behaviour.Write your response into the table:Principles of consumer behaviour Explanation of principle Examples of buyer behaviourCulturalSocialPersonalPsychologicalSituationalQuestion 2Describe the four principles of the marketing mix and apply them to an industry context.Write your response into the table:Principles of the marketing mix Explanation of the marketing mix Industry-specific exampleProductPricePromotionPlacementQuestion 3Outline five statistical techniques used to gather and analyse marketing information, and then explain how each can be used in market intelligence.Write your response into the table:List of five statistical techniques Explanation of the technique Industry-specific exampleAssessment Event 2 – MyRTO SimulationIn this assessment, you will undertake a number of tasks associated with developing and adjusting the marketing mix for a Registered Training Organisation (RTO), MyRTO. The focus is on determining the marketing mix for a non- accredited training program and adjusting it to meet organisational marketing objectives. To achieve this, you will perform the following actions:• review and evaluate the current marketing mix from the Strategic Marketing Plan• develop the marketing mix for the non-accredited training program• monitor the marketing mix against market responsefinalise the marketing mix for the non-accredited training program.Task 1: Evaluate Each Component of Marketing MixIn Task 1, you will evaluate MyRTO’s strategic initiatives and establish a groundwork to determine the marketing mix that best satisfies the marketing initiatives.To achieve this, you will need to refer to the Strategic Marketing Plan provided to you as a separate attachment.Identify key characteristics of the Change Management training program• identify five key characteristics of the training program• explain the significance of these five key characteristics to the marketInsert your response into the table:Key characteristics Significance to the marketReview pricing policy and analyse pricing variables to determine their effect on demandNote that before undertaking this subtask, you will need to review the pricing policy in the Strategic Marketing Plan.• identify the pricing policies and the pricing variables• explain their effect on demandInsert your responses into the table:Pricing policy and variables Effect on demandPricing policy 1: • public:• NGOs:• corporate:Pricing policy 2: • public:• NGOs:• corporate:Pricing variable 1: • public:• NGOs:• corporate:Pricing variable 2: • public:• NGOs:• corporate:Pricing variable 3: • public:• NGOs:• corporate:Analyse promotional methods to determine their importance to marketing outcomesNote that before undertaking this subtask, you will need to review the promotional methods in the Strategic Marketing Plan.• identify the two promotional methods• write a summary explaining the importance of these promotional methods to marketing outcomesInsert your response here:Review channels of distribution and estimate their significance to marketing outcomesNote that before undertaking this subtask, you will need to review the channels of distribution in the Strategic Marketing Plan.• identify the two channels of distribution• write a summary on the significance of these channels of distribution to marketing outcomesInsert your response here:Identify and analyse level of customer service provision to determine its significance to marketing outcomesNote that before undertaking this subtask, you will need to review the customer service provisions in the Strategic Marketing Plan.• identify the three levels of customer service provision• identify the three levels of customer service provisionInsert your response here:Identify potential customer base and key pressure pointsPrior to undertaking this task, you will need to review the target market profile in the Strategic Marketing Plan.• identify the customer base• profile each customer base• identify the key pressure points to be successful in each customer baseInsert your responses into the table:Customer base Profile Key pressure points•••••••••Analyse and test the effect of the components of marketing mixIn this task, you are required to examine the dynamics of the four components of a marketing mix and their impact on each other.• write a summary on how MyRTO’s components of marketing mix could influence each other• identify the importance of each component of marketing mix on MyRTO’s customer base and provide rationaleInsert your responses into the table:Customer base Components Importance RationaleProductPricePromotionPlacementCustomer ServiceProductPricePromotionPlacementCustomer ServiceProductPricePromotionPlacementCustomer ServiceTask 2: Determine Marketing Mix for Specific MarketsThis task builds on Task 1 where you established the groundwork to determine the most appropriate marketing mix to achieve market outcomes.In Task 2, you will determine the marketing mix that best satisfies MyRTO’s marketing initiatives.To achieve this, you will need to refer to the Strategic Marketing Plan provided to you as a separate attachment.Identify and assess environmental factors, and their impact on marketing mix• identify environmental factors that have an impact on the marketing mix• identify which component of the marketing mix is affected by the environmental factor• explain their impact on the marketing mixInsert your responses into the table:Environmental factors Marketing Mix Affected Impact of the factor on the marketing mixIdentify consumer priorities, needs and preferences affecting marketing mix• identify consumer priorities, needs and preferences that have an impact on the marketing mix• do this for each of the three customer baseInsert your responses here:Evaluate marketing mix variables against objectives, target market and positioningThis subtask requires you to evaluate the marketing mix variables against marketing objectives, target market characteristics and desired positioning. In this subtask, we refer product, pricing, promotional, distribution and service variations as the ‘marketing mix variables’.• evaluate how each of the marketing mix variable is aligned to the:• marketing objectives• target market characteristics• desired positioning of the product Insert your responses into the table:Marketing mix variables Marketing objectives, Target Market Characteristics, Desired PositioningProductPricingPromotionDistributionService variationSelect marketing mix that best satisfies target market and meets marketing objectivesThis subtask requires you to reflect your findings from all of the subtasks you have undertaken earlier. You will determine the marketing mix for the Change Management Program that is most profitable to MyRTO’s marketing objectives.• select marketing mix variablesInsert your responses into the table:Marketing mix variables Target market 1 Target market 2 Target market 3ProductPricingPromotionDistributionCustomer Service LevelSeek approval to the marketing mix decisionThis subtask requires you to send an email to the Marketing Manager (your Assessor) to seek approval for your marketing mix decision, which was based on the earlier subtasks.Note that to perform this task, you need to review the budget information provided in the Strategic Marketing Plan and use the Budget Template (see worksheet Task 2.5) provided to you as a separate attachment.• complete the Budget Template (Task 2.5) to table an estimated budget for your marketing mix• upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments• attach the email exchange with this stakeholder• see your Student Assessment Guide for detailed instructions.Task 3: Monitor and Adjust the Marketing MixIn this task, you will review the outcomes of the marketing mix and make the necessary adjustments to ensure that the marketing mix meets organisational marketing objectives and desired positioning.By the end of Task 3, you will determine the marketing mix that best satisfies MyRTO’s marketing initiatives based on the market response data.Monitor marketing mix against marketing performance and isolate components for testingIn this task, you will review the marketing performance data and then isolate the marketing mix components for testing.To achieve this, you will need to refer to the Marketing Mix Outcomes spreadsheet provided to you as a separate attachment.• calculate the variance between planned and actual resultsInsert your responses into Excel spreadsheet sent to you by your Assessor• investigate causes of varianceInsert your responses here:• isolate components for testingInsert your responses into the table:Marketing mix components Test Strategy Expected OutcomeProductPricingPromotionPlacementEvaluate implications of altering components of marketing mixIn this subtask, you will review the market factors and then evaluate the possible implications of altering the components of the marketing mix on consumer response. To achieve this, you need to refer to the ‘External Landscape’ section in the Strategic Marketing Plan and your findings in Task 3.1.• based on the given market factors, alter the components of the marketing mix• based on the given market factors, alter the components of the marketing mixInsert your responses into the table:Scenario Implications on consumer responseScenario 1:Scenario 2:Scenario 3:Adjust components of marketing mix in response to test results and market-response evaluationIn this task, you will adjust the components of the marketing mix in response these test results and market-response evaluation you have undertaken in Tasks 3.1 and 3.2.• adjust your marketing mix variablesInsert your responses into the table:Marketing mix variables Target market 1 Target market 2 Target market 3ProductPricingPromotionDistributionCustomer Service LevelEnsure adjusted marketing mix meets budgetary requirementsNote that to perform this task, you need to review the budget information provided in the Strategic Marketing Plan and use the Budget Template provided to you as a separate attachment.• complete the Budget Template (Task 3.4) to table an estimated budget for your adjusted marketing mix• upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments• send the modified versions to your Marketing Manager• attach the email exchange with this stakeholder• see your Student Assessment Guide for detailed instructions.Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioningIn this task, you will re-adjust the components of the adjusted marketing mix in response to the outcomes achieved after your initial adjustment in Tasks 3.1 – 3.4.You will be provided these result data by your Marketing Manager (your Assessor) prior undertaking this subtask. Background to the situation is given below:• complete the Budget Template (Task 3.5) to table an estimated budget for your re-adjusted marketing mix• re-adjust your marketing mix in accordance to the results received• upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments• send the modified versions to your Marketing Manager• attach the email exchange with this stakeholder• see your Student Assessment Guide for detailed instructions.Re-adjust your marketing mix using the table below:Marketing mix variables Target market 1 Target market 2 Target market 3ProductPricingPromotionDistributionCustomer Service LevelFor Assessor Use OnlyTask Outcome SheetsThe Outcome Sheet below is the assessment tasks for each of the assessment event that the student is required to complete. Assessors, tick ‘S’ if the student achieved a satisfactory outcome for an assessment task and ‘NYS’ if the student does not meet these requirements. Also, you are required to write comments on the quality of this evidence under the ‘Comments’ column. As for your final judgement on the student’s overall performance, tick ‘Satisfactory’ if the student achieves a satisfactory outcome for all of the tasks or ‘Not-Yet-Satisfactory’.Assessment Event 1Assessment Event 1Knowledge Questions S NYS CommentsQuestion 1Question 2Question 3The student’s performance for Assessment Event 1 is ? Satisfactory ? Not-Yet-SatisfactoryAssessor Signature: Date:Assessment Event 2 – SimulationAssessment Event 2 S NYS CommentsTask 1: Evaluate each component of marketing mixSub Task 1.1Sub Task 1.2Sub Task 1.3Sub Task 1.4Sub Task 1.5Sub Task 1.6Sub Task 1.7Task 2: Determine marketing mix for specific marketsSub Task 2.1Sub Task 2.2Sub Task 2.3Sub Task 2.4Sub Task 2.5Task 3:Monitor and adjust the marketing mixSub Task 3.1Sub Task 3.2Sub Task 3.3Sub Task 3.4Sub Task 3.5The student’s overall performance is ? Satisfactory ? Not-Yet-SatisfactoryAssessor Signature: Date:Student Feedback FormDear Student,We are keen to improve our products and services, and assessment tools are a key part of this. Therefore, we would welcome your feedback on the assessment. If you could take a few minutes to complete the form below, it would be greatly appreciated. Please provide thoughtful responses as your opinions are highly valued.Yes No Feedback QuestionsY • • N Did the assessment cover the training you received for this unit?Y • • N Were the tasks in Assessment Event 2 based on realistic activities that you would expect to bedoing in a workplace?Y • • N Did you understand the assessment instructions?Y • • N Were the tasks easy to understand?Y • • N Did the Assessor set up and run the simulations professionally?Y • • N Was the Assessor’s decision fair?Y • • N Was the Assessor’s feedback specific?Y • • N Was the Assessor’s feedback comprehensive?Y • • N Was the Assessor’s feedback constructive?Y • • N Was the Assessor’s feedback timely?Y • • N Were you satisfied with your effort in this assessment?What would you change about this assessment?What could the assessor have done differently to improve the assessment process and/or assessment feedback?Overall, what was the most significant challenge of this assessment?Overall, what did you like the most about this assessment?Do you have any other comments you wish to make with regard to your assessment experience?