Course Title: Identify and evaluate marketing opportunities

Part B: Course Detail

Teaching Period: Term1 2014

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

Joe Rosagrata

joe.rosagrata.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
110 Feb (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) Introduction to the course - Market Research
 
217 Feb Exploratory Market Research 
324 Feb

 Exploratory Market Research

 
43 Mar

 Idea Generation

 
510 Mar Idea Generation  Assessment 1 due
617 Mar

 Idea Generation


 
724 Mar

 Market Research -Research Brief

 
831 Mar Market Research -Surveys 
97 Apr Market Research -Observation 
1014 Apr 
Opportunity Evaluation -SWOT
 Assessment 2 review
 18 - 27 Apr Mid-semester break 
1128 Apr Opportunity Evaluation -Budgeting 
125 May 
Opportunity Evaluation -Stakeholders
 Assessment 2 due
1312 May

Opportunity Evaluation -Test Marketing
 

 
1419 May Reporting and Presenting Findings 
1526 May Reporting and Presenting Findings Assessment 3 oral Interview
 
162 Jun Resits and Resubmissions  

This course is co-delivered and co-assessed with MKTG5835C Plan Market research


Learning Resources

Prescribed Texts


References

• Rix Peter, R.,(2004): Marketing, A Practical Approach, 6thEd., McGraw-Hill Publishing.
• Kotler, Brown, Adam & Armstrong, (2004): Marketing, 6th Ed., Pearson Education Australia, Prentice Hall
• Summers, Gardiner, Lamb, Hair & McDaniel, (2005): Essentials of Marketing, 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

This course is co-delivered and co-assessed with MKTG5835C Plan Market research

Students are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

Assessment Task 1 – Market Research Plan
Date handed out: Week 2
Date and time due: Week 5
Group or Individual: Individual

Purpose: Students will gain an understanding of writing a basic market research plan and knowledge as to the key requirements and content, which acts as a map of drivers for the company or product.

Requirements: Students will write a basic market research plan and research the content that will support the information and key objectives that will drive innovation for the company or product.

Assessment Task 2 – Opportunity evaluation report
Date handed out: Week 4
Date and time due: Week 10 & 12
Group or Individual: Groups of no more than 4 students.

Purpose: Students will gain an understanding of writing a basic opportunity evaluation report and present the reasons the opportunity exists and gain knowledge as to the key requirements and content, which acts as a map of drivers for the company or product opportunity.

Requirements: Students will write a basic opportunity evaluation report, which will support the market research plan and identify the opportunities that may exist in the market. Students learn to write and research the support information and key objectives that will drive innovation for the company or product. Recommended word limit of 2500 words.

Assessment Task 3 – Interview / Oral Questioning
Date handed out: Week 10
Date and time due: Week 15
Group or Individual: Individual

Purpose: This oral interview will confirm you have the required skills and knowledge for this unit. In a real business environment you will often be required to respond immediately.

Requirements: You will be asked approximately 3-5 questions, selected at random from a list of questions which will be provided to you prior to the assessment. 

 

Submission requirements:
Assessment tasks must be submitted online through blackboard.
You must:
• Retain a copy of your assessment tasks.
• 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 work for assessment is available on blackboard.
• For group assignments - all group members must complete and sign the cover sheet.
• Each page of your assessment you should include footer with your name(s), student number(s), 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.
 

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.
 

Final Date for All Assessments.
Unless the Late Submission Procedures (see above) are applied, No assessment tasks or resubmissions will 
 


Assessment Matrix

Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

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.
.

Other Information

Late submissions
If circumstances outside your control are likely to prevent you from submitting an assessment item on time, you may apply to your teacher for an extension of up to seven calendar days.
You must apply for an extension at least one working day prior to the submission deadline.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf

Special Consideration
Extensions of greater than seven days will only be granted to eligible students through the special consideration process. 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

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=7usdbki1fjf31
 

Course Overview: Access Course Overview