BSBMKG502 Establish and adjust the marketing mix

Student Assessment

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Written Questions and Answers

Assessment is all about collecting evidence and making decisions as to whether or not a student has achieved competency. Students are required to answer all the questions. Evidence is information gathered that provides proof of competency. While evidence must be sufficient, trainers and assessors must focus on the quality of evidence rather than the quantity of evidence.

1. 1 Identify the key characteristics of products or services and estimate their significance to the market.  Please describe and expand to include 4 & 7 Ps, 3 major pricing strategies, at least 2 distribution strategies, characteristics of service and the products such as PLC Stages. 
2. As a manager when you are reviewing the pricing policy and analysing pricing variables to determine their effect on demand, what are some key factors? You need to consider the pricing procedure, 4Cs, what pricing variables support the pricing policy, company considerations and pricing decisions associated with costs.
3. After an analysis on promotional methods in your organisation, explain how you determine their importance to the marketing outcomes.
4. Explain the results from a review on channels of distribution in your organisation and estimate their significance to marketing outcomes.
5. Explain how you would identify and analyse the level of customer service provision to determine its significance to marketing outcomes. 
6. What do you need to consider when identifying the organisation’s potential customer base and key pressure points?
7. Part of an effective marketing plan, you need to analyse and test effect of components of marketing mix on each other and establish their relative importance to the customer base. What are some of the things you need to do?
8. Identify and assess environmental factors, and their impact on marketing mix by elaborating on an a) environmental analysis, b) PEST analysis and c) SWOT analysis? 
9. Explain how you identify the consumer priorities, needs and preferences affecting marketing mix.
10. Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning. 
11. Identify a marketing mix that best satisfies your organisation’s target market and meets the marketing objectives and explain the strategy. 
12. How do you ensure the marketing mix decisions meets organisational, strategic and operational marketing objectives?
13. As a manager you need to monitor the marketing mix against marketing performance and isolate components for testing. Elaborate on how you would approach this.
14. What do you need to consider when evaluating the implications of altering one or more components of the marketing mix in relation to market factors and consumer response?
15. What do you need to consider when adjusting components of the marketing mix in response to test results and market-response evaluation?
16. How do you ensure the adjusted marketing mix meets budgetary requirements?
17. What is involved in ensuring the adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives?
18. What statistical techniques are commonly used by business organisations to gather marketing information? Summarise several techniques and explain how you might use them to identify markets and marketing opportunities. Conduct appropriate research to answer this question. 

Assessment Outcome Written Questions

Assessed by ______________________________________________  

Assessor Signature_________________________ Date _________

Project Report 1

Write a report to explain the marketing mix according to ABC Company’s operational plan. Refer to BSBMGT517 Manage Operational Plan.  (Minimum of 200 words)

Include in the report –

Activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:   

1. customer service levels (Refer to Q5)
2. product or service distribution (Refer to Q4 & Q10)
3. product or service pricing (Refer to Q2 & Q10)
4. additional products or services, if any (Refer to Q10)
5. product or service promotion (Refer to Q3 & Q10)
6. report on success of marketing mix activities developed, including coverage of any necessary adjustments made (Refer to Q13 & Q14)

Assessor needs to use the below checklist to assess the Case Study 1.

Assessed by ______________________________________________ 

Assessor Signature_________________________ Date _________

Business, Accounting and Finance

 Assessment Outcome Record

In order to be deemed competent in this unit, the candidate must answer all written questions correctly and satisfactorily complete all practical tasks.  In order to complete all practical tasks, all Observation Criteria need to be satisfied, i.e. demonstrated and marked as an 'S'.  The task summary outcome must be noted as satisfactory to note the demonstration of a satisfactory outcome for each practical task requirement.