Course Title: Establish and adjust the marketing mix
Part B: Course Detail
Teaching Period: Term1 2017
Course Code: MKTG7886C
Course Title: Establish and adjust the marketing mix
School: 650T Vocational Business Education
Campus: City Campus
Program: C5338 - Diploma of Leadership and Management
Course Contact: Sylvia Baroutis
Course Contact Phone: +61 3 9925 5469
Course Contact Email: sylvia.baroutis@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
To be advised
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit describes the skills and knowledge required to determine the optimum marketing mix for a business through analysis of interrelated marketing components.
It applies to individuals in marketing management roles who are responsible for developing marketing and promotional mix within an organisation. They may also adjust the marketing mix when new marketing opportunities are identified.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG502 Establish and adjust the marketing mix |
Element: |
1. Evaluate each component of marketing mix |
Performance Criteria: |
1.1 Identify key characteristics of products or services and estimate their significance to the market 1.2 Review pricing policy and analyse pricing variables to determine their effect on demand 1.3 Analyse promotional methods to determine their importance to marketing outcomes 1.4 Review channels of distribution and estimate their significance to marketing outcomes 1.5 Identify and analyse level of customer service provision to determine its significance to marketing outcomes 1.6 Identify potential customer base and key pressure points 1.7 Analyse and test effect of components of marketing mix on each other, and establish their relative importance to customer base |
Element: |
2. Determine marketing mix for specific markets |
Performance Criteria: |
2.1 Identify and assess environmental factors, and their impact on marketing mix 2.2 Identify consumer priorities, needs and preferences affecting marketing mix 2.3 Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning 2.4 Select marketing mix that best satisfies target market and meets marketing objectives 2.5 Ensure marketing mix decision meets organizational, strategic and operational marketing objectives |
Element: |
3. Monitor and adjust marketing mix |
Performance Criteria: |
3.1 Monitor marketing mix against marketing performance and isolate components for testing 3.2 Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response 3.3 Adjust components of marketing mix in response to test results and market-response evaluation 3.4 Ensure adjusted marketing mix meets budgetary requirements 3.5 Ensure adjusted marketing mix continues to meet organizational, strategic and operational marketing objectives, and desired positioning |
Learning Outcomes
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities may be delivered through various technology platforms and may include your contribution to discussion threads, reflective journals, quizzes and interactive sessions.
The collaborative classroom based activities may include group discussion, group problem solving activities and opportunities to practise your skills in a simulated business environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
Week number |
Week commencing |
Topics/Learning Outcomes |
Assessment information |
1 |
6 February |
Course Induction
Grading |
|
2 |
13 February |
Creating and capturing customer value - Textbook and slides Chapter 1 pp. 2-35. Review the learning objectives pp.30-32 |
|
3 |
20 February |
Company and marketing strategy: Partnering to build customer relationship - Textbook and slides Chapter 2 pp. 36-67. Review the learning objectives pp. 60-62 |
|
4 |
27 February |
Analysing the marketing environment - Textbook and slides Chapter 3 pp.70-98. Review the learning objectives pp. 94-95 |
|
5 |
6 March |
Managing marketing information: Marketing research process - Textbook and slides Chapter 4 pp. 100-131. Review the learning objectives pp. 128-130 |
|
6 |
13 March |
Consumer markets: Consumer buyer behaviour - Textbook and slides Chapter 5 pp. 134-167. Review the learning objectives pp. 162-164 |
|
7 |
20 March |
Customer driven marketing strategy: Creating value for target customers - Textbook and slides Chapter 6 pp. 172-201 |
|
8 |
27 March |
Product, service and brands: Building customer value - Textbook and slides Chapter 7 pp. 202-234: Review the concepts pp.229-231 |
|
9 | 3 April | Developing new products: Managing the product lifecycle - Textbook and slides Chapter 8 pp. 236-261: Review the concepts pp.247-259 |
|
10 |
10 April |
Pricing: to capture customer value - Textbook and slides Chapter 9 pp. 262-295: Review the concepts pp.291-293 |
|
13-19 April |
Mid-semester Break |
||
10 |
17 April |
Placement: Customer value fulfilment - Textbook and slides Chapter 10 pp. 296-339: Review the concepts pp.333-336 |
|
11 |
24 April |
Communicating customer value: Advertising and PR - Textbook and slides Chapter 11 pp. 340-375: Review the concepts pp.369-371 |
Assessment 1 Market Research report due |
12 |
1 May |
Personal selling, Sales Promotion: Direct and Digital marketing - Textbook and slides Chapters 12 & 13 pp. 376-449: Review the concepts pp.401-403 & pp.439-442: |
|
13 |
8 May |
Student presentations |
Assessment 2 Marketing Plan Student Presentations |
14 |
15 May |
Student presentations
|
Assessment 2 Marketing Plan Student Presentations Submission of Marketing Plan online |
15 |
22 May |
|
|
16 |
29 May |
Review Resits/Resubmissions as appropriate |
Review Resits/Resubmissions as appropriate |
Learning Resources
Prescribed Texts
Principles of marketing 6e, Armstrong et al, Pearson Australia,2015 |
9781486002696 |
References
Other Resources
RMIT Library resources
Turnitin
myRMIT
This course is supported by a comprehensive set of online resources through myRMIT
myRMIT is where you can access information for:
Course Guide - digital version
Lectures and slides - a full list
Readings -prescribed and suggested
Assessments - comprehensive instructions
Announcements - these will be posted regularly on the myRMIT site and it is important that you regularly check these
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- report on activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:
- customer service levels
- product or service distribution
- product or service pricing
- additional products or services, if any
- product or service promotion
- report on success of marketing mix activities developed, including coverage of any necessary adjustments made.
Knowledge Evidence
To complete the unit requirements safely and effectively, you must:
- outline organisational policies, procedures, products and services related to marketing
- describe principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix
- outline and explain statistical techniques used to gather and analyse marketing information.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the business development – marketing field of work and include access to:
- office equipment and resources
- organisational and marketing strategic plans
- case studies and, where possible, real situations.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
There are two assessments for this course, one will concentrate on the Market Research required to establish a Marketing Plan, and the other will be the writing of the Marketing Plan. Students will work in Project Teams for both assessments
Students must demonstrate competency in both assessments to pass this course. You will be assessed individually according to your competency whilst working in a team
If a team member leaves a team, that team must carry on without that team member. If a team member is no longer in a team, they will need to complete all the required work for the assessments individually
Assessment Task/Title: Assessment 1 – Market Research Report (Written/Typed)
Aim/Purpose
The purpose of this assessment is to provide students with the following:
- Knowledge and understanding of a market research methods used in the workplace
- Ability to understand the target market and customer service levels
- Knowledge and evaluation of each component of the marketing mix
- Skills in the collection of data to determine marketing mix for a specific market
The Task – Due Week 11
In your Project Teams you are to work together to conduct Market Research on the market for a product/service.
You must conduct:
1. Primary Research – Written surveys by way of :
a. Face to face interview - the survey must be completed by face to face interviews of sufficient interviewees to obtain a statistically valid result - (target 100 interviews per team)
b. Internet survey – the survey should be completed by using social media to obtain a statistically valid result - (target 100 interviews per team)
The team must design an appropriate market research survey for each medium, using appropriate statistical techniques. Each member of the team must conduct interviews and sign off on their survey sheets
2. Secondary research – previously published survey results
Project teams will research the product/service through previously published material on the topic. Sources should include:
- Trade magazines and publications
- Books
- Statistical reports (e.g. Australian Bureau of Statistics)
- Newspapers
- Internet
- Academic publications
- Published surveys
The team will then produce a Market Research report based on the analysis of the surveys to identify and evaluate the following:
1. Key characteristics of the product/service and the significance to the market
2. Target market characteristics – including gender, income, age, attitudes, values, lifestyle
3. Potential customer base and key pressure points – including occasion purchasing, frequency of purchase, price pointing, distribution chain, loyalty
4. Consumer priorities, needs and preferences – including design, value, availability
5. Environmental factors affecting the marketing mix – Political, Economic, Sociological, Technical
You will close the research report with a paragraph on your desired (1) positioning and (2) level of customer service provision, detailed on a Perceptual Map – include the reasoning and justification for this approach
Market Research Report 2500 words due Week 11
Assessment Task/Title: Assessment 2 – Marketing Plan (Written/Typed)
Aim/Purpose
The purpose of this assessment is to provide students with the following:
1. The ability to evaluate each component of the marketing mix
2. The skills to determine the marketing mix for a specific market
3. Knowledge of how to monitor and adjust the marketing mix
The Task – Due Week 14
In your teams you will produce and present a Marketing Plan for your product
The Marketing Plan will incorporate the following:
1. Organisation Vision & Mission
2. Team objectives over the next 12 months, including customer service levels, product distribution, product pricing, product promotion
3. SWOT analysis
4. Market overview – market size, potential, structure, trends
5. Competitors – direct, indirect, market share, strategic alliances
6. Market segmentation
7. Marketing mix strategies
8. Action program – what, who, when to achieve objectives
9. Control program – monitor marketing mix against performance, marketing budget, contingencies, P & L summary
10. Template for reporting success of marketing activities and any amendments
Team presentation of report in class - Week 8/Completed typed Report submitted online by the team in Week 8
(Each student in a team may be asked to individually demonstrate their skills and knowledge for this unit in order to verify competency, if required. This means that you must be acquainted with all parts of the Presentation and the Report)
Assessment Matrix
Other Information
Submission Requirements
You should:
• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
Resubmissions:
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is "CAG".
If you are still not meeting the assessment requirements you must apply to your Program manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7us
Marking Guide (competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.
Final Grades Table:
CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did not Submit for assessment
Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview