Evaluate and determine the marketing mix

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Learner Instructions 1

(Evaluate and determine the marketing mix)

Submission details

Students Name
Student ID
Group
Assessor’s Name
Assessment Date/s

This assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.

Submit this document with any required evidence attached. See specifications below for details.

Performance objective

You will demonstrate the ability, knowledge and skills to evaluate each component of the marketing mix and determine a suitable marketing mix for a specific product/surface and its target market.

Assessment description

You will write a report on the BBQfun simulated business. The report should address the key characteristics of a product or service and estimate its significance to the market, the promotion methods and each component of the marketing mix. Assess the marketing mix that the organisation has selected for its specific market and evaluate each component’s contribution to the organisation’s marketing objectives and strategies.

Procedure

Scenario
You are a marketing manager or external marketing consultant who has been asked by senior decision makers at BBQfun to write an evaluation of the marketing mix for a product or service. Research and prepare the report.

1. Meet with your assessor to discuss the BBQfun simulated business.
   1. You will need to meet with your assessor and discuss the following from the BBQfun simulated business:
      1. applicable market research
      2. a marketing plan, or at least, branding and strategy, target market or segment information, marketing mix information
      3. demand and revenue projections
      4. a marketing budget
      5. operational planning
      6. relevant policies.
2. Identify the key characteristics of the business’s products and services and their significance to the market.
3. Consider the impact of at least two changes to pricing on resulting consumer demand. Prepare to briefly explain in your report your methods and calculations. Prepare to explain the impact on, for example, profitability or other business goals.

Note: You will need to agree with your assessor on demand and revenue assumptions in order to calculate the effect of pricing on demand in several ‘what if’ scenarios.

4. Analyse the importance of the following elements to marketing outcomes:
   1. the promotional methods
   2. the channels of distribution
   3. the level of customer service provided.
5. Identify the business’s potential customer base and keys to success in reaching them.
6. Identify the components of the marketing mix, including information on how each element of the marketing mix has been used, their significance to each other and their relevance to the customer base.
7. Identify external environmental factors and assess their potential impact on the marketing mix.
8. Identify consumer priorities, needs and preferences and the way they impact the marketing mix.
9. Evaluate products or services against marketing objectives, target market characteristics and desired positioning. Prepare to explain and justify your evaluation.
10. Assess the marketing mix in relation to the organisational, strategic and operational marketing objectives and complete the following:
    1. Select the most appropriate mix and prepare to explain your assessment.
    2. Consider the integrated effect of each component of the marketing mix on each other.
    3. Identify specific objectives, for example, financial objectives, customer satisfaction objectives or operational efficiency objectives.
11. Identify at least two pieces of legislation, codes of practice, or organisational policy relevant to implementing your recommended marketing mix.
12. Document your evaluation of the marketing mix in a written report. Ensure your report:
    1. identifies, defines and examines the product or service’s key characteristics
    2. examines promotion methods and marketing mix components
    3. evaluates the marketing mix
    4. defines the business’s marketing objectives and strategies.

Note: Ensure also that your report is written in a formal style appropriate to a managerial audience.

13. Submit your report in the agreed format and within the agreed timeframe to your assessor.

Specifications

You must submit:

• a three-to five-page written report evaluating the marketing mix.

You assessor will be looking for a report that demonstrates:

• reading skills to research and evaluate marketing mix information from a range of sources, including, for example, marketing plans, market research reports and online sources
• writing skills to write reports in a formal style, using language appropriate for a managerial audience
• numeracy skills to evaluate and explain pricing scenarios and calculations
• workplace navigation skills to consider own role (as marketing consultant or manager, in this case, writing a report to further the aims of the business) and legal and policy implications of marketing mix recommendations
• marketing skills to evaluate marketing options and assess impact on strategic aims
• knowledge of:
  • principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix
  • key provisions of relevant legislation, codes of practice and national standards that may affect aspects business operations.
  • organisational policies, procedures, products and services.

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