Course Title: Identify and evaluate marketing opportunities

Part B: Course Detail

Teaching Period: Term2 2013

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

Teacher/Lecturer: Tony Lorkin

Office: 9925 5486

Mobile: 0412 715 222

E-mail: tony.lorkin@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.Analyse 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 analyse opportunities in terms of their likely fit with organisational goals and capabilities
2.2.Evaluate each opportunity to determine its impact on current business and customer base
2.3.Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity
2.4.Determine probable return on investment and potential competitors
2.5.Describe and rank marketing opportunities in terms of their viability and likely contribution to the business

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 organisational 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

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The self-paced activities will be delivered through various technology platforms and include your contribution to tutorial activities and interactive sessions.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
 


Teaching Schedule

WeekWeek CommencingTopicsAssessment
18 Jul(1) Course Induction
• Course delivery and assessment details
• Course support documents
• Online learning environment
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities
(2) Pre-Training Review
• Includes skills analysis and Recognition of Prior Learning and Credit Transfers
(3) Course Overview
 
215 Jul

 Company’s position in the market place. Introduction of Work Integrated Learning brief

Consider the 4Ps

Consider the 7Ps

The basic differences between goods and services products

How to begin to use research to identify market place trends

Introduction: Assignment 1

 
322 Jul

 The evolution of marketing from the late 1800s to the present

Analyse strategic marketing factors ......research local and overseas organisations per WIL brief

How to use trend maps and statistical data to identify organisational opportunities from other relevant organisations

 
429 Jul

 Analyse strategic marketing factors......research local and overseas organisations to recognise emerging market place trends

How to use trend mapping as a basis for recommending new directions for an organisation

 
55 Aug In class tutorial exercises to plan the assignment 1 report 
612 Aug

 

 The Product Life Cycle and Planned Obsolensence

 

 
719 Aug

 Individual student discussion regarding drafts for assignment 1

 
826 Aug Final preparation work on Assignment 1

 Assignment 1 due.

3,000 word report on the evolution of marketing from:

1. Beginning of  mass production in late 1800s

2. Sales era in the 40s to 60s

3. The introduction of the marketing concept

4. Relationship marketing

5. Societal marketing

6. Social marketing

 2 - 6 Sep Mid-semester break 
99 Sep

The impact of the Product Life Cycle and Planned Obsolesence on the Advertising Spiral

In class exercises

 
1016 Sep Tutorial exercises to discuss and review drafts for assignment 2 
1123 Sep Target Marketing strategies and consumer information channels 
1230 SepIn class tutorial review of paired assignment preparation
 
137 Oct Understanding the differences between business objectives, marketing objectives and communication objectives 
1414 Oct

 Assignment 2 due

In class presentations

 Assignment 2:

Report which identifies:

1. Marketing opportunities

2. Emerging trends

3. IMpact of trends on WIL brief organisation

4. Trend impacts on organisation’s current position

5. Recommend changes for the organisation
 

Assignment 3:

10 minute PPT presentation that overviews the main elements put forward in assignment 2.
 

1521 Oct Resits if neccessary and student feedback 
1628 Oct Resits if neccessary and student feedback 


Learning Resources

Prescribed Texts

TBA


References

•Monger, B. (2007); marketing in black and white, 1st ed., Pearson Education, Australia
•Reed, P. (2006): Strategic Marketing Planning, 2nd ed., Thomson
•Walker, Mullins, Boyd, Larreche (2006); Marketing Strategy, 5th ed., McGraw-Hill
•Healy, G. (2004); Strategic Marketing Analysis, 1st 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

 

MKTG 5832C Identify and Evaluate Marketing Opportunities (BSBMKG501A)
MKTG 5834C Interpret Market Trends and Developments
(BSBMKG507A)


These courses are taught in consultation with each other and are timetabled accordingly

Assignment 1

REPORT: THE EVOLUTION OF MARKETING

Students will write a 3,000 word report on the evolution of the marketing concept and how it develop from the beginnings of mass production in the late 1800s through the sales era to the first marketers, on to relationship marketing, societal marketing and today’s new phenomenon of social marketing using real product/services examples.

This assignment is due in week 8 of the teaching program.

Assignment 2

REPORT: MARKET OPPORTUNITIES

Students in pairs will produce a comprehensive report from a brief which identifies:

• Marketing opportunities
• Maps trends with similar organisations in Australia and overseas
• Summarizes the possible impact of these trends on the organisation
• An investigation of these opportunities against the organisation’s current position
• And suggests changes to the organisation’s current behaviour

This assignment is due in week 14 of the teaching timetable

Assignment 3

PRESENTATION: OVERVIEW OF ASSIGNMENT 2

In pairs students will present a 10 minute PPT presentation that overviews the major elements put forward in your assignment 2 report.

The presentation will occur in normal class time in week 14.

 


Assessment Matrix

Course Overview: Access Course Overview