Course Title: Establish and adjust the marketing mix
Part B: Course Detail
Teaching Period: Term1 2016
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
Seymour Jacobson
+613 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
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 |
Element: |
2. Determine marketing mix for specific markets |
Performance Criteria: |
2.1 Identify and assess environmental factors, and their impact on marketing mix |
Element: |
3. Monitor and adjust marketing mix |
Performance Criteria: |
3.1 Monitor marketing mix against marketing performance and isolate components for testing |
Learning Outcomes
Details of Learning Activities
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.
Teaching Schedule
| Week number and Commencing Date | Topics/Learning Outcomes |
Assessment information |
|
1. 8 February
|
Course Induction • Course delivery and assessment details • Course support documents • Online learning environment including Blackboard • Grading • Plagiarism • Appeals/Extensions • Feedback/Privacy • Submission requirements/Resubmission policy • Where to get support • Student responsibilities • Use of Turnitin Pre-Training Review (if applicable) • Includes skills analysis and Recognition of Prior Learning and Credit Transfers |
|
| 2. 15 February |
Session 1. Creating and capturing customer value - Textbook and slides Chapter 1 pp. 2-35. Review the learning objectives pp.30-32 Session 2. Company and marketing strategy: Partnering to build customer relationship - Textbook and slides Chapter 2 pp. 36-67. Review the learning objectives pp. 60-62 |
|
| 3. 22 February |
Session 1. Analysing the marketing environment - Textbook and slides Chapter 3 pp.70-98. Review the learning objectives pp. 94-95 Session 2. Managing marketing information: Marketing research process - Textbook and slides Chapter 4 pp. 100-131. Review the learning objectives pp. 128-130 |
|
| 4. 29 February |
Session 1. Consumer markets: Consumer buyer behaviour - Textbook and slides Chapter 5 pp. 134-167. Review the learning objectives pp. 162-164 Session 2. Customer driven marketing strategy: Creating value for target customers - Textbook and slides Chapter 6 pp. 172-201 |
|
| 5. 7 March |
Session 1. Product, service and brands: Building customer value - Textbook and slides Chapter 7 pp. 202-234: Review the concepts pp.229-231 Session 2. Developing new products: Managing the product lifecycle - Textbook and slides Chapter 8 pp. 236-261: Review the concepts pp.247-259 |
|
| 6. 14 March |
Session 1. Pricing: to capture customer value - Textbook and slides Chapter 9 pp. 262-295: Review the concepts pp.291-293 Session 2. Placement: Customer value fulfilment - Textbook and slides Chapter 10 pp. 296-339: Review the concepts pp.333-336 |
|
| 7. 21 March | Session 1. 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
|
| 24-30 March Mid-semester break | ||
| 7. 28 March | Session 2. 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: | |
| 8. 4 April |
Session 1. Student presentations Session 2. Student presentations |
Assessment 2 Marketing Plan Presentation and online submission due |
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 as a team and 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 7
In your Project Teams you are to work together to conduct Market Research on the market for a product/service for the 15-25 year old age group
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 and their 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 7
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 8
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)
Assessment Matrix
REQUIRED SKILLS AND KNOWLEDGE
This section describes the skills and knowledge required for this unit.
Required skills
• 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.
Required knowledge
• 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.
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 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.
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 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