Course Title: Establish and adjust the marketing mix
Part B: Course Detail
Teaching Period: Term2 2015
Course Code: MKTG5811C
Course Title: Establish and adjust the marketing mix
School: 650T Vocational Business Education
Campus: City Campus
Program: C5225 - Diploma of Management
Course Contact : Sylvia Baroutis
Course Contact Phone: +61 3 9925 5469
Course Contact Email:firstname.lastname@example.org
Name and Contact Details of All Other Relevant Staff
Tel: 9925 1563
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
This course will enable you to understand how you develop marketing and promotional mix within an organisation.
You will also understand how to adjust the marketing mix when new marketing opportunities have been identified within your organisation.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title:
BSBMKG502B Establish and adjust the marketing mix
1. Evaluate each component of the marketing mix
1.1.Identify key characteristics of products or services
2. Determine marketing mix for specific markets
2.1.Identify and asses environmental factors for their
3. Monitor and adjust marketing mix
3.1.Monitor marketing mix against marketing
At completion of this course you will understand how to establish a marketing mix appropriate for the products and/or services within your organisation.
You will understand how to match the marketing mix to specific markets that you are trying to engage with.
You will understand how to monitor and make necessary adjustments to the marketing mix as applicable.
Details of Learning Activities
This course may include lectures, class activities including group discussions, concept reviews, case studies, training exercises, online delivery, presentations, questionnaires, panel discussions, guest speakers
A range of learning activities are planned for this course including self-paced and collaborative class activities
We expect you to to participate and contribute in all scheduled learning activities
|1. July 6||
|2. July 13||Company and marketing strategy: Partnering to build customer relationship - Textbook and slides Chapter 2 pp. 42-73: Review the concepts pp. 67-68, Discussion questions p. 68: Case study Gourmet foods pp. 71-73|
|3. July 20||Analysing the marketing environment - Textbook and slides Chapter 3 pp.74-107: Review the concepts pp.101-102: Discussion questions p.102: Case study Luxury brands pp.105-107|
|4. July 27||Managing marketing information: Marketing research process - Textbook and slides Chapter 4 pp. 108-145: Review the concepts pp.139-140: Discussion questions pp.140-141: Case study Wine and headaches pp.144-145|
|5 Aug 3||Consumer markets: Consumer buyer behaviour - Textbook and slides Chapter 5 pp. 146-165: Review the concepts pp.175-176 (Q1-3): Discussion questions pp.176-177 (Q.1-6): Case study The MONA FOMA experience pp.181-183|
|6 Aug 10||ONLINE STUDY NO FACE TO FACE CLASS|
Customer driven marketing strategy: Creating value for target customers - Textbook and slides Chapter 6 pp. 184-215: Review the concepts pp.209-210: Discussion questions p.210: Case study Re-kindling an interest in reading pp. 213-215
|7. Aug 17||Review and mid-semester test||Assessment 1 In-class Test
You will receive feedback by Week 9
|8. Aug 24||Product, service and brands: Building customer value - Textbook and slides Chapter 7 pp. 216-253: Review the concepts pp.246-247: Discussion questions pp: 247-248 Case study Professional photography pp. 251-253|
|Mid-semester Break||Mid-semester break|
|9. Sept 7||ASSESSMENT 2 - STUDENT PRESENTATIONS||Assessment 2.1 Presentation
You will receive feedback after your presentation
|10. Sept 14||Developing new products: Managing the product lifecycle - Textbook and slides Chapter 8 pp. 254-285: Review the concepts pp.278-279: Discussion questions pp: 279-280: Case study Mexican foods pp.283-285|
|11. Sept 21||Pricing: to capture customer value - Textbook and slides Chapter 9 pp. 286-325: Review the concepts pp.318-320: Discussion questions p.320: Case study Bligh H2O|
|12. Sept 28||ONLINE STUDIES - NO FACE TO FACE CLASS
Placement: Customer value fulfilment - Textbook and slides Chapter 10 pp. 326-373: Review the concepts pp.365-367: Discussion questions p.367: Case study Value fulfilment at the speed of thought
ONLINE STUDIES - NO FACE TO FACE CLASS
|13. Oct 5||Communicating customer value: Advertising and PR - Textbook and slides Chapter 11 pp. 374-411: Review the concepts pp.404-405: Discussion questions pp. 405-406: Case study Australian bananas pp. 409-411|
|14. Oct 12||Personal selling, Sales Promotion: Direct and Digital marketing - Textbook and slides Chapters 12 & 13 pp. 412-491: Review the concepts pp.438-439 & pp. 481-483: Discussion questions pp. 439-440: Case study Chasing Apple’s iPhone pp.489-491|
|15. Oct 19||ASSESSMENT 2 - STUDENT PRESENTATIONS||Assessment 2.2 Presentation
You will receive feedback after your presentation
|16. Oct 26||ASSESSMENT 2 - STUDENT PRESENTATIONS||Assessment 2.2 Presentation
You will receive feedback after your presentation
THIS SCHEDULE MAY BE VARIED ACCORDING TO STUDENT PROGRESS OR OTHER CIRCUMSTANCES BUT NO STUDENT WILL BE DISADVANTAGED BY THIS
Principles of marketing, 6 edn, Armstrong et al, Pearson Australia
RMIT Library resources
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
Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.
Other activities may be workplace-based or simulated work practices. These may include the production of technical requirements documents, direct observation of workplace practices and the presentation of a portfolio of evidence. This portfolio may include documents, photographs, video and/or audio files.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
THERE ARE TWO ASSESSMENTS FOR THIS COURSE
Various methods for individual evaluation will be used including contribution to wikis, discussion boards, team meetings, emails, communication systems as well as face to face questioning. All team members are expected to be competent in all aspects of the subject matter so that, even if you accept responsibility for one particular aspect of the assessment, you must know and understand all areas of the assessment
- If any of the group members leave the group, the remaining group members must complete the work without any concession and compensation.
- In presentations, all members of the group must be able to deliver all of the presentation. You should not read from notes - so you must know your subject.
- Groups will be called randomly to present, so be on time. If a group member is not there when the group is called the group will present without that member. A missing/late group member will not be assessed and will need Special Consideration to be assessed
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|Critical aspects for assessment and evidence required to demonstrate competency in this unit||
Evidence of the following is essential:Developing a report containing a description of activities undertaken to establish a marketing mix in an organisation, including information on each element of the marketing mix, such as:
Task 1 – In-class closed book test - individual (Due Week 6)
A closed book test of 90 minutes duration, run in the week 5, covering content studied in Chapters 1-4. It will consist of questions with short essay answers and designed to test your underpinning knowledge of marketing concepts covered in the first part of the semester. It will be conducted in the class controlled environment.
Task 2 - Major group assignment (Marketing Plan) (Due Weeks 9 & 15)
During this semester students will be working in teams (4-5 people) to develop a marketing plan for a product or service of a Australian brand.
The marketing plan will be for a specific product or service rather than a company, as a company may have several products each requiring individual plans. It will be a product or service that is easy to research, one that has been written about regularly in marketing magazines or one that students have access to the information via a personal contact. No direct contact is allowed with organisations unless students have a prior personal or professional relationship. All research should otherwise be desk research, observation and educated guesses.
Students will be developing the marketing plan in three separate stages: in Stage 1. students will conduct a research, make an analysis, and prepare a detailed presentation of their findings. In Stage 2. students will develop a specific marketing strategy and marketing mix and present them in the class. In Stage 3, students will write a report.
- Stage 1 Market research and analysis – presentation and discussion
- Stage 2 Marketing strategies and marketing mix – l presentation and discussion
- Stage 3 Summary report of stages 1 & 2
Stage 1 (Due Week 9)
Stage 1 concentrates on:
1. Defining the firm’s mission and overall objectives.
Any individual product or service must be developed in line with the firm’s overall mission and objectives. All Body Shop products, for instance, must be environmentally friendly, all 3M products reflect the firms commitment to leading edge technology and the Foxtel vs Optus Vision battle depicts these firms’ high risk for high reward business vision.
By including the firm’s mission and overall objectives at the start of the planning process we are establishing the framework within which our product will operate in. We are also ensuring that our product will play its part in assisting the firm achieve its overall objectives.
2. The Situation Analysis
The purpose of the Situation Analysis is to describe and analyse the firm’s current position in the market place. The Situation Analysis attempts to answer the question “where are we now?” by taking a ‘snapshot’ of the current situation and explaining not only what is happening in this marketplace but why, who and what are the key players, forces and dynamics that drive it.
The Situation Analysis also helps to identify key leverage points or significant areas of strength that cam be used to improve the products market position. The situation analysis is carried out in three stages:
External Analysis - analysis of variables outside the firms control
Internal Analysis - analysis of variables within the firms control
SWOT Analysis - identifies the key issues affecting your product’s / firm’s performance
Due date: Week 9 (after midsemester break)
Presented and discussed in class
Duration: 30-45 minutes Team leaders should submit visual aids such as power point slides, prezi etc electronically via Blackboard.
Students will be given a product (goods or service), and will prepare a Situation Analysis of the environment which the product operates in.
As a guide you should include the following:
1. Company Mission.
The overall guiding vision of the company, or what this company stands for.
2. Company Objectives.
Corporate objectives to be achieved over the next 12 months. (These are different to product objectives - refer to the Assignment description if you are still unsure what is required).
These objectives help to set the scene that your product operates within. They will show whether the company is looking to grow or consolidate, be innovative and take risks or be reactive and conservative in its approach.
3. Market overview.
Describe and analyse the market place and the trends and forces operating within it. Include analysis such as:
• Definition of the market or category
You need to very clearly define and describe the market your product operates in. The broader the definition of your market the more competitors there are likely to be and the narrower the definition the less scope there is for market segmentation and finding new users for your product.
Ask yourself whether you are analysing the ‘confectionary market’ or only the Chocolate Bar’ category. If you are concentrating on the Chocolate Bar category , it is very worthwhile to show where it fits in to the overall market. You can do this by describing the confectionary market and defining the various product categories that fit into it, such as, chocolate bars, boxed chocolates, children’s treats (Kinder Surprise), confectionary bags and so on. You could then go on to describe what proportion of the confectionary market it represents and
compare the growth trends of the total market and this particular category. For instance, it would be significant to know that the chocolate bar market represents 25% of the confectionary market and although the confectionary is stagnant, Chocolate Bars are still growing at 7-8% per annum. (You should also specify the types of products included in your definition of the market/ category).
• Market Size - What is the size of the market? Quantify the size of the market in volume (000’s cases/ kilos) and/ or value ($000) terms.
• Market Potential - Is this a growth market? Can you estimate next years growth rate? Is this an attractive market to be in? What stage of the life cycle is this market in?
• Market Structure - What is the competitive nature of this market? Is it a monopoly? Oligopoly?
• Trends - Analyse the macro environmental trends effecting this market place. Include only those issues that are relevant to your market. Consider the demographic, economic, natural, cultural, technological and political/ legal trends.
Consider both direct and indirect competitors in your analysis.
Include information in your analysis that helps to identify not only what your competitors are doing but how they think, how innovative they are and how they may respond to a competitive threat. You should consider issues such as:
- market share
- corporate culture
- strategic alliances
- international links
- financial strengths
- marketing expertise
- innovativeness and so on ..
You may even like to do a SWOT analysis on your key competitors.
5. Segmentation and Buyer Behaviour.
In this section of the plan you are trying to understand the various customer segments in the marketplace.
You should attempt to divide the market into discrete segments and describe these segments using a segmentation table. (this is covered in the textbook and in class!)
Your aim is to build ‘profiles’ of each segment to aid in our understanding of what, where, when, why and how often these customers buy products in this market.
You may even identify a segment that is currently not being served and in doing so you have uncovered a major opportunity.
Discuss in this section the type of buying process involved in your market place, how decisions are made, who influences these decisions and any other issues that are important to the decision making process.
6. Internal Analysis
The internal analysis is a review of the product’s performance and current marketing strategy.
The purpose of this review is to establish how well the current marketing strategy is working to achieve the objectives set for the product. It is a review of performance against targets such as market share, sales, profitability and so on. It also evaluates specific product, price, promotion and distribution strategies to identify areas of strength and weakness for the firm.
Identify the firm’s existing strategies and analyse their effectiveness, with a view to developing new refined strategies. Your analysis will also help to identify Strengths, Weaknesses, Opportunities and Threats for the SWOT analysis.
7. SWOT Analysis
SWOT stands for strengths, weaknesses, opportunities and threats. The SWOT analysis is a summary of the external and internal analyses, highlighting the critical issues that must be addressed by the marketing plan. When the SWOT analysis is completed, the firm has a clear idea of its:
• Strengths What do we do better than competitors? - What advantages do we have over competitors?
• Weaknesses - In what areas do we need to improve marketing mix in order to be more competitive?
• Opportunities - What new opportunities exist in the market place for our product?
Threats - Can we anticipate any threats to our business from the external environment that may challenge or weaken our position?
Stage 2 (Due Week 15)
Stage 2 concentrates on the planning phase of the marketing cycle. It addresses:
1. Where do we want to be?
This question is answered by
- developing the product objectives (for market share, profitability and so on),
- defining our Target Market (who is this plan/ product aimed at)
- specifying our Desired Product Positioning (what does this product stand for in the consumers mind).
2. How will we get there?
In this phase of the plan, we develop the strategies and action plans to ensure we achieve our objectives. These strategies and action plans revolve around the 4p’s (or 7p’s for a service).
We also specify a control program to track and monitor our performance and this includes marketing research projects and budget controls.
Marketing strategies and marketing mix
Due date: Week 15
Presented and discussed in class.
Duration: 30-45 minutes
Team leaders should submit visual aids such as power point slides, prezi etc electronically via Blackboard.
As a guide, your plan should include:
1. Product Objectives.
These are specific objectives for the brand/ product this plan is being developed for. Objectives should be SMART. (Specific, measurable, achievable, realistic and time frame specific).
2. Target Market Defined.
Who are you aiming you product at? Do you have more than one target market? (mothers and children?)
3. Desired Positioning.
Does your brand have a unique position in the market? What attributes/ benefits/ advantages is your positioning based on? You may like to use a perceptual map to illustrate your positioning.
4. Strategies using 4p or 7p framework (strategies broadly describe how you plan to achieve your objectives).
5. Action Program.
Detailed implementation program identifying what will be done, who is responsible, Marketing Budgets and deadlines.
6. Control Program.
Defines how you will monitor your progress, including benchmarks, evaluation procedures, budgets and so on.
7. Samples, Advertisements, Promotional material
You are strongly urged to use your creative energies to produce examples of your product, copies of your proposed advertisements, and any promotional materials that are proposed. These should be prepared and shown in Weeks 15/16 to demonstrate your competencies in a simulated workplace situation
Stage 3 (Due Week 16)
Each team will produce a summary report of stages 1 & 2. The report should be 800-1000 words long, written by the whole team, and team leader should submit the report electronically via Blackboard on behalf of all team members accompanied by authorship statements from each team member
REQUIRED SKILLS AND KNOWLEDGE
This section describes the skills and knowledge required for this unit.
• culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities
• literacy skills to identify market information, to write in a range of styles for different audiences and to interpret requirements
• numeracy skills to interpret testing results and to manage marketing budgets
• organisational and time management skills to design and adjust a marketing mix.
• key provisions of relevant legislation from all forms of government that may affect aspects business operations, codes of practice and national standards such as:
• anti-discrimination legislation and principles of equal opportunity, equity and diversity
• ethical principles
• marketing codes of practice and conduct such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice; Free TV Australia Commercial Television Industry Code of Practice
• privacy laws
• Trade Practices Act
• organisational policies, procedures, products and services
• principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix
• statistical techniques.
• 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.<o:p></o:p>
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
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 cirumstances 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.<o:p></o:p>
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.<o:p></o:p>
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 recognised 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