Student Assessment Workbook BSBMKG501 Identify and Evaluate Marketing Opportunities Student Full Name: Student ID: Date Submitted: Assessment Information Welcome to your Student Assessment Workbook for BSBMKG501 Identify and Evaluate Marketing Opportunities. This Student Assessment Workbook is where you will write all your responses 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 – Knowledge Questions:There are three questions that will provide us with evidence of your general knowledge of legislative requirements in marketing operations, principles of marketing and marketing mix, and statistical techniques to evaluate marketing opportunities. Assessment Event 2 – Simulation: Emu FitnessYou will complete a number of tasks that will provide us with evidence of your skills with reviewing then planning the implementation of marketing opportunities within the fitness industry. These tasks will be based on your role as a Marketing Specialist in a simulation with an organisation called Emu Fitness that operates in the fitness and health sector. To complete the Simulation, you will need to refer to the following resources: Strategic Marketing ReviewThis document is used in Task 1.1 where you will review the current market and potential opportunities. ROI and Cost TemplateExcel template used in Task 2.3 where you will calculate the probable return on investment for each of your proposed marketing opportunity. Please note that your responses for both assessment events can (where appropriate) use dot point format. See below an example of a dot point response and a full sentence response. Dot point formatPresentation Plan includes the following: outcomesneeds of the audiencecontext. Full sentence formatWhen you are preparing for a presentation, there are 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 tasks you then check on the room that you will be conducting the presentation in. To Achieve Competence To be deemed competent for this unit, you will need to meet the following requirements: complete all of the questions and tasks listed in the Student Assessment Workbookmeet all the requirements listed in this Student Assessment Guideyour responses to the questions and tasks must be relevant, accurate and specificsubmit your completed Student Assessment Workbook to your Assessor within the set timeframesyour work must be in your own wordswhere you use an external source of information, you must provide citation. Pre-assessment Checklist Your assessor will go through the assessment for this unit, BSBMKG501 Identify and Evaluate Marketing Opportunities. It is important that you understand this assessment before taking on the questions and 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’ column. 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. Pre – assessment ChecklistCommentsY NI, the student, understand the purpose of the assessment. Y NI understand when and where the assessment will occur, who will assess and in what format the assessment will be submitted. Y NI understand the methods of assessment. Y NI understand what resources are required to complete this assessment. Y NI understand the performance level required for each assessment event. Y NI understand that it must be my own work. I have been explained and understand the serious consequences in case this work is found plagiarised. Y NI understand the process if I am deemed not yet competent. Y NI understand the feedback process and the appeals process. Y NThe assessor has discussed with me if I have any special needs and if so what arrangements have been made. Student Full Name Student ID Student Signature Date Assessment Event 1 – Knowledge Questions The 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 legislative requirements in marketing operations, principles of marketing and marketing mix, and statistical techniques to evaluate marketing opportunities. Note you must answer these questions in your own words. Remember, you must get a satisfactory result with each question to be deemed satisfactory for the whole of Assessment Event 1. Question 1 Outline key provisions of relevant legislation, codes of practice and national standards affecting marketing operations. Write your response into the table: Legislation/Codes/StandardsSummary of Key Provisions Question 2 Explain principles of marketing and marketing mix. Write your response into the table: PrinciplesExplanation of the marketing mixIndustry-specific exampleProduct Price Promotion Placement Question 3 Describe statistical methods and techniques, including forecasting techniques, to evaluate marketing opportunities. Write your response into the table: Statistical techniques and methodsIndustry-specific example Assessment Event 2 – Emu Fitness Simulation In this simulation, you will take the role of Marketing Specialist for a fitness and health organisation called Emu Fitness. In this role, you will show your skills in identifying, evaluating and taking advantage of marketing opportunities. You will undertake an analysis of the market data and information, review the characteristics and trends, and then assess the viability of changes to its current operations. Task 1: Identify marketing opportunities In this task, you will focus on an analysis of the external market in particular variables such as consumer interests, technology, competition etc. in an attempt to identify potential marketing opportunities. 1.1 Analyse information on market Insert your responses into the table: Macro FactsMarketing OpportunitiesRationale 1.2 Research potential new markets Insert your responses here: 1.3 Explore entrepreneurial approaches for their potential business application Insert your responses here: Task 2: Investigate marketing opportunities In this task, you will review your two marketing opportunities for alignment with the organisations capability. This analysis will lead to an estimation of the return on investment and from this the development of a priorities matrix. 2.1 Analyse fit between marketing opportunities and organisational goals and capabilities Insert your responses here: 2.2 Evaluate each opportunity to determine impact on business and customer base Insert your responses here: 2.3 Determine probable return on investment Insert your responses into the ROI and Costs Template Excel template which is a separate document provided to you by your Assessor, and attach a print output to your Student Assessment Workbook. 2.4 Determine potential competitors Insert your responses here: 2.5 Describe and rank marketing opportunities Insert your responses into the table below: Opportunity NameFit with strategy?Market SizePotential $Investment neededCapability of organisation?Time to profitOpportunity 1 Score [1-10] (10 highest) Opportunity 2 Score [1-10] (10 highest) Task 3: Evaluate required changes to current operations In this task, you will develop strategies and resources to ensure that Emu Fitness can provide quality customer service to its current members which will take advantage of the planned marketing opportunities. 3.1 Identify and document changes and resources required for current operations Insert your responses here: 3.2 Communicate viability of changes to current operations Not required. You will be holding a meeting with two stakeholders. Please refer to your Student Assessment Workbook for detailed instructions. 3.3 Document newly identified report on marketing opportunities and required changes to Upon the receipt of the feedback from the stakeholders, make the necessary adjustments to your earlier findings where necessary. For Assessor Use Only Task Outcome Sheets The Outcome Sheet below is the assessment questions and tasks for each of the assessment events 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. For your 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 1 – Knowledge Questions Assessment Event 1 Knowledge QuestionsSNYSCommentsQuestion 1 Question 2 Question 3 The student’s performance for Assessment Event 1 is Satisfactory Not-Yet-SatisfactoryAssessor Signature:Date: Assessment Event 2 – Simulation Assessment Event 2SNYSCommentsTask 1: Identify Marketing OpportunitiesSub Task 1.1 Sub Task 1.2 Sub Task 1.3 Task 2: Investigate Marketing OpportunitiesSub Task 2.1 Sub Task 2.2 Sub Task 2.3 Sub Task 2.4 Sub Task 2.5 Task 3: Evaluate Required Changes to Current OperationsSub Task 3.1 Sub Task 3.2 Sub Task 3.3 The student’s overall performance is Satisfactory Not-Yet-SatisfactoryAssessor Signature:Date: Assessment Outcome Sheet Student ID Family Name First Name Course Code Course Title Unit CodeBSBMKG501Unit TitleIdentify and Evaluate Marketing OpportunitiesAssessment Outcome Assessor, please tick and date the student’s final outcome of this assessment:Initial SubmissionDateRe-submission 1DateRe-submission 2Date C NYC___/___/____ C NYC___/___/____ C NYC___/___/____ Assessor’s Feedback Assessor, please provide your comments on the student’s final outcome of this assessment: Assessor Full Name Signature Date Receipt of Student’s Assessment Assessor, you must provide the completed copy of this receipt to the student as an evidence of submission of their assessment to you.Student ID Family Name First Name Course Code Course Title Unit CodeBSBMKG501Unit TitleIdentify and Evaluate Marketing OpportunitiesDue Date__/__/___Date Received__/__/___Extension ApprovedY NDate Approved__/__/___Initial SubmissionRe-submission 1 Re-submission 2Assessor’s Signature Student Feedback Form Dear 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. YesNoQuestionsY NDid the assessment cover the training you received for this unit?Y NWere the tasks in Assessment Event 2 based on realistic activities that you would expect to be doing in a workplace?Y NDid you understand the assessment instructions?Y NWere the tasks easy to understand?Y NDid the Assessor set up and run the simulation professionally?Y NWas the Assessor’s decision fair?Y NWas the Assessor’s feedback specific?Y NWas the Assessor’s feedback comprehensive?Y NWas the Assessor’s feedback constructive?Y NWas the Assessor’s feedback timely?Y NWere 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?
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