Course Title: Identify and evaluate marketing opportunities
Part B: Course Detail
Teaching Period: Term1 2010
Course Code: MKTG5832C
Course Title: Identify and evaluate marketing opportunities
School: 650T TAFE Business
Campus: City Campus
Program: C5229 - Diploma of Marketing
Course Contact : Tim Wallis
Course Contact Phone: +61 3 9925 5423
Course Contact Email:timothy.wallis@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Chris Lee Ph (03) 9925 5471
email: chris.lee@rmit.edu.au
Nominal Hours: 70
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 required
Course Description
This unit applies to individuals working in senior marketing management roles who, together with a marketing team, identify, investigate and evaluate marketing opportunities to determine whether they meet organisational and marketing objectives. Based on this evaluation, changes to current business operations can be determined to take advantage of marketing opportunities.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG501B Identify and evaluate marketing opportunities |
Element: |
1. Identify marketing opportunities |
Performance Criteria: |
1.1 Analyze information on market and business needs to identify marketing opportunities 1.2 Research potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business 1.3 Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities |
Element: |
2. Investigate marketing opportunities |
Performance Criteria: |
2.1 Identify and analyze opportunities in terms of their likely fit with organizational goals and capabilities |
Element: |
3. Evaluate required changes to current operations |
Performance Criteria: |
3.1 Identify and document changes needed to current operations to take advantage of viable marketing opportunities 3.2 Ensure organizational changes to service an increased or different customer base include provision for continued quality of service to existing customers 3.3 Estimate resource requirements for changed operations 3.4 Determine and communicate viability of making changes to current operations to key stakeholders 3.5 Document newly identified marketing opportunities and required changes |
Learning Outcomes
This unit describes the performance outcomes, skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing the characteristics of possible markets and assessing the viability of changes to operations.
Details of Learning Activities
This course is structured to provide students with the optimum learning experience. Students will participate in a combination of group and individual assessment activities. These assessable activities will be provided through a combination of face to face teacher/student deliveries, workshops and laboratory exercises. Additional assessable activities will also be provided to students to complete outside of the timetabled time. The concepts learned will be explored through the investigation of real world and simulated environments.
Competency Based Assessment
Students will be provided with more than one opportunity to demonstrate competence. Competency based assessment is detailed below in “Assessment methods” and “Assessment Tasks”.
Teaching Schedule
| Week beginning | Element/Performance Criteria | |
| Week 1 (8th Feb) | Course overview | |
| Week 2 (15th Feb) | Understanding the business #1 1. The strategic planning process 2. The marketing plan (brief overview) 3. Situation analysis |
BSBMKG603 Element#1 |
| Week 3 (22nd Feb) | Understanding the business #2 1. The strategic planning process 2. The marketing plan (brief overview) 3. Situation analysis |
BSBMKG603 Element#1 |
| Week 4 (1st Mar) | Identifying market needs 1. Marketing information systems 2. Marketing segmentation and target market strategies 3. Market positioning |
BSBMKG501 Element#1 |
| Week 5 (8th Mar) | Identifying marketing opportunities | BSBMKG501 Element#1 |
| Week 6 (15th Mar) | Evaluating marketing opportunities | BSBMKG501 Element#2 |
| Week 7 (22nd Mar) | Strategy development: 1. Setting marketing objectives 2. Developing marketing strategies: a. The 4Ps’ b. Higher level marketing strategies |
BSBMKG603 Element#1 |
| Week 8 (29th Mar) | Budgets (Resource allocation, submission & approval | BSBMKG603 Element#1 BSBMKG501 Element#2&3 |
| Week 8 (5th Apr) | Budgets (Resource allocation, submission & approval) MID SEMESTER BREAK – 1st – 7th April | |
| Week 9 (12th Apr) | Implementation: Managing marketing personnel | BSBMKG603 Element#2 |
| Week 10 (19th Apr) | Evaluation, control mechanisms and recommend any improvements to future marketing performance | BSBMKG603 Element #1&3 BSBMKG501 Element#3 |
| Week 11 (26th Apr) | Presenting the business opportunities #1 (Business Model) | BSBMKG501 Elements 1-3 BSBMKG603 Elements 1-3 |
| Week 12 (3rd May) | Presenting the business opportunities #2 (Business Model) | |
| Week 13 (10thMay) | Draft due for client to assess (Extended executive summary and business model) | |
| Week 14 (17thMay) | 1. WIL project assign. due 2. Final ‘extended executive summary’ on CD due PLUS a hard copy of ‘extended executive summary’. 3. Reflective journal due 4. Students to prepare for client presentation NB: All the above are due on 19th May (Wed.) by 5.00pm |
|
| Week 15 (24thMay) | Client presentation | BSBMKG501 Elements 1-3 BSBMKG603 Elements 1-3 |
| Week 16 (31stMay) | Major test | BSBMKG501 Elements 1-3 BSBMKG603 Elements 1-3 |
| Week 17 (7th Jun) | Resubmissions (where applicable) | |
| Week 18 (14thJun) | Results/Feedback |
Learning Resources
Prescribed Texts
TBA |
References
• Reed, P. (2006): Strategic Marketing Planning, 2nd ed., Thomson |
Other Resources
Overview of Assessment
Students must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including assignments, journals, presentation and written or test. 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.
Assessment Tasks
Assessment 1
(1) Written WIL project assignment (Group) 35%
This assessment will require students to work in designated groups of no less than 3 on a live project (i.e. working on a direct marketing problem that an organization is currently facing that requires research and the implementation of a solution). Students will present their findings to the client in a professionally written report. Much of this work will be undertaken both outside of class time and in the “Practical Sessions”.
(2) Reflective journal (Individual) 10%
This assessment will require students to reflect and record their weekly activities and learning experiences in a journal
(3) Extended executive summary onto a CD (Group) 5%
(Require both a soft and hard copy)
Students are to prepare and present an extended executive summary and any other required materials (TBA) into a CD and hand it in.
Assessment 2
Oral client presentation (Individual) 20%
(Presented In a group but students will be assessed individually)
Students will be required to take part in an oral presentation to the client. Much of this work will be undertaken both outside of class time and in the “Practical Sessions”.
Assessments 3
Oral test (Individual) 30%
The third assessment will require students to present themselves in an interview with their class teacher on learned concepts/principles taught during the semester.
NB: To be co-assessed with BSBMKG603B Manage the marketing process
Assessment Matrix
| Element | Assess.#1 |
Assess.#2 Oral client presentation |
Assess.#3 Written or oral test |
| (1) Manage the marketing process | Yes | Yes | Yes |
| (2) Manage marketing personnel | Yes | Yes | Yes |
| (3) Evaluate and improve strategic marketing performance | Yes | Yes | Yes |
Other Information
“In adherence with RMIT’s commitment to sustainability, course teachers will seek to incorporate environmental concerns in the facilitation of this course. These include, but are not limited to:
• Conserving natural resources
• Using recycled materials wherever possible
• Minimizing pollution
• Applying energy savings measures
• Reducing waste
Students are encouraged to identify and follow environmental and resource efficient ways of working whilst studying this course.”
Course Overview: Access Course Overview