Posted: February 2nd, 2022

Identify And Evaluate Marketing Opportunities Assignment | Assignment Help Services

Procedure/Instructions

There are two parts to this assessment task. Part A requires you to identify and evaluate two opportunities for your chosen organization. In part B, you will explain the opportunities to your peers in a 15–20-minute presentation.

Part A requires you to identify and evaluate two opportunities for your chosen organization.

1. Choose an organization to analyze. Identify two marketing opportunities for the organization you have chosen.
2. To identify opportunities, analyze information on your chosen organization’s market and business needs, for example:
3. comparative market information

Assessment Tasks

Updated October 2018 v1.0 Page 2 of 12

1. competitors’ performance
2. customer requirements
3. legal and ethical requirements
4. market share
5. market trends and developments
6. new and emerging markets
7. profitability
8. sales figures

Note: Some data in the BBQfun simulated business needs to be updated by you. For your chosen organization or BBQfun, it is recommended that you use ABSdata, for example, to determine demographic and consumer trends.

2. Research potential new markets for the organization, for example:
3. export markets
4. segments of the market not currently penetrated
5. Consider strategic marketing approaches such as:
6. increasing market share
7. developing new markets
8. developing new products
9. diversification
10. Using a suitable methodology, such as gap analysis, market or marketing analysis, or competitor analysis, identify and decide on two marketing opportunities to focus on and investigate further.

In your analysis, consider types of markets and aspects of the marketing mix such as distribution, products, and types of promotional activities, for example:

1. e-commerce
2. business-to-business marketing
3. direct marketing
4. ideas marketing
5. marketing of goods
6. public sector marketing
7. services marketing

Assessment Tasks

1. telemarketing.
2. Estimate the effect of the two marketing opportunities on the business, for example:
3. effect on sales volume
4. growth
5. market share
6. profitability.
7. Use numerical analysis or statistical methods to forecast effects. For example, use the least-squares method to estimate demand. Use estimated demand to calculate the effect on sales and profitability.
8. Explore and develop entrepreneurial, innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organization.

For example, if you identify an e-commerce opportunity, determine how to apply the e-commerce opportunity to the organization including aspects such as media, web-design to appeal to target markets, integration with existing operations, marketing strategy and overall strategic directions.

Part B

Prepare a 15–20-minute presentation for marketing peers explaining and supporting the two marketing opportunities you have identified. Ensure you complete the following:

1. Describe two marketing opportunities and how you identified them. Describe the process you undertook to analyze your organization to identify the marketing opportunities. Refer to current organizational marketing plan and products/services
2. Support your choice of marketing opportunities with reference to market information such as market trends and sales figures. Include relevant statistics.
3. Describe the effect of opportunities on the business, for example:
4. sales volume
5. growth
6. market share
7. profitability.

Note: You must use evidence to support your assertions, such as:

1. refer to quantitative or qualitative data
2. show/use results of statistical methods of forecasting demand
3. show results of break-even or profit analysis.

Assessment Tasks

2. Describe innovative or creative options (one for each opportunity) to apply the marketing opportunities in the context of the organization. Refer to aspects of the marketing mix, i.e., product, price, promotion, place (distribution). Refer to principles of marketing that apply to your approaches to realizing the proposed opportunities.
3. Use appropriate language and level of formality to satisfy the needs of your audience. For example:
4. professional but semi-formal language
5. technical vocabulary; potential need to define more obscure marketing terms or statistical methodologies
6. assume no knowledge of specific organizational policies or marketing strategies
7. be prepared to answer questions
8. provide for response and feedback.
9. Prepare and keep presentation notes and other materials used in the presentation such as PowerPoint slides and handouts.
10. Deliver your presentation as per specifications (below).
11. Submit presentation notes, PowerPoint slides, etc. to your assessor. Keep a copy of all documentation for your records.Get Marketing homework help

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