Course Title: Identify and evaluate marketing opportunities
Part B: Course Detail
Teaching Period: Term1 2016
Course Code: MKTG7905C
Course Title: Identify and evaluate marketing opportunities
School: 650T Vocational Business Education
Campus: City Campus
Program: C5342 - 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
Elaine Holstein
elaine.holstein@rmit.edu.au
9925 5155
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
Course Description
This unit describes the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.
It applies to individuals working in a supervisory or management marketing or advertising role within a marketing or advertising team or media organisation.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG501 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 |
Element: |
2. Investigate marketing opportunities |
Performance Criteria: |
2.1. Identify and analyse opportunities in terms of their likely fit with organisational 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 |
Learning Outcomes
This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.
Details of Learning Activities
This unit is co delivered and co assessed with MKTG7907C (BSBMKG507) - Interpret Market trends and Developments
A range of in class activities, case studies and independent research are included as the learning activities for this course.
Teaching Schedule
Week Number | Date | Topic |
1 | 8th Feb | Introduction to course |
2 | 15th Feb | Research, and the concept development process • Overview of the processes • Steps and issues for consideration in planning and developing concepts/products. • Introduction to the market research concepts and process |
3 | 22nd Feb | Opportunity ID Idea generation • Examination of the concept of innovation and innovation management Opportunity ID |
4 | 29th Feb | Understanding basic statistical analysis for market scoping – introduction to measures of central tendency and correlation |
5 | 7th March |
Identifying and working with a range of stakeholders Stakeholder management – • Identifying and understanding the different stakeholders that will be involved in the process Preparing stakeholder management plans Essential skills of project management |
6 | 14th March Labour Day holiday Monday | Opportunity ID Idea generation Idea screening • Creative thinking techniques • Using creativity in innovation to generate concepts to address identified needs Test and experiment with different concepts and ideas as part of a collaborative process Conduct a mini lab using different techniques |
7 | 21st March | Budget Management for new concepts
Identifying the skills and requirements of managing the budget and other metrics from beginning to end |
Thursday 24th –Wednesday 30th March mid semester break and Easter
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8 | 4th April | Opportunity ID Feasibility • Evaluate the effectiveness of different strategies for achieving desired outcomes.
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9 | 11th April | Research and Development Technology – nuts and bolts of commercialising creativity
• Understanding the R&D and its role in new concept development Design theory and thinking |
10 | 18th April | Use of strategic alliances • Strategic Alliances and networks as part of the commercialisation process Strategic development • Product and Brand strategies and testing • Includes a range Branding issues and platforms |
11 | 25th April | Packaging • Types and roles of packaging • Packaging as part of the brand • A look at packaging as part of the new product concept Services Innovation • Overview of innovation in services A look at the services innovation process |
12 | 2nd may | Commercialising concepts Overview of Launch and Lifecycle Management strategy |
13 | 9th May | Finalise assessment 3 |
14 | 16th May | Focus on assessment 3, presentation preparation |
15 | 23rd May | In class presentations |
16 | 30th May | Client presentations where appropriate, Resubmits if required. |
This unit is co delivered and co assessed with MKTG7907C (BSBMKG507) - Interpret Market trends and Developments
Learning Resources
Prescribed Texts
References
Other Resources
Relevant resources will be provided to students throughout the semester.
Overview of Assessment
This course is co-delivered and co-assessed with MKTG5834C Interpret Market Trends And Developments
Assessment Methods
Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:
- direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
- review of final printed documents
- demonstration of techniques
- observation of presentations
- oral or written questioning to assess knowledge of software applications
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Performance Evidence
You must provide evidence of the ability to:
- identify and evaluate marketing opportunities to determine whether they can meet organisational objectives
- document how current business operations need to be modified, and list resources required, to take advantage of newly identified and evaluated opportunities.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- outline key provisions of relevant legislation, codes of practice and national standards affecting marketing operations
- describe organisational marketing plan, structure, products and services
- explain principles of marketing and marketing mix
- describe statistical methods and techniques to evaluate marketing opportunities, including forecasting techniques.
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
Students are required to complete 3 tasks. All tasks must successfully be completed to be deemed competent in this unit.
TASK 1 – Group participation and e-reflection - Individual assessment
Purpose: This assessment is designed to provide students with the opportunity to demonstrate individual concept analysis and research skills as they relate to the content of this course.
Each week students will be set a case study or research and analysis task for completion during the class. This will be followed by a group discussion.
Students will be required to participate both in the research and analysis task and take an active part in small group and in class discussions. For weeks 2, 6, 10 and 15 students will be required to prepare a short reflective comment and discussion board entry that summarises the essence of their learning for each week and includes the link to 1 interesting reference (not including in teachers resources and not included by another student I your class) to share with the rest of the class.
Please refer to competency requiremens for grading criteria.
If links are not included, or if the link is the same as other students for any of the discussions, or if the commentary is a statement with no real analysis or consideration, a CHD will not be awarded.
Marking guides will be discussed during class time
Submission Requirements: Through the discussion board and wiki facilities on Blackboard.
.
Task 2 Market Scoping and Opportunity Identification: (This assessment is due 23:59 pm Friday week 8)
Purpose:
This assessment task is designed to provide students with the opportunity to demonstrate skills in research, statistical analysis, market scoping, as well as their ability to manage and participate as a member of a consulting team.
The focus for assessment 2 is research, analysis and the exploration of concepts and market exploration techniques. Students are required to work in designated groups 3 (maximum) and prepare an evaluation and exploration of the need for a new concept/product/service/technology/process. The evaluation needs to explicitly include:
Submission Requirements: Students are required to provide a written document. Uploaded into Blackboard in either word or PDF format. Note emailed assignments will not be marked
A marking guide will also be provided for this assessment and discussed during classes in week 1.
Task 3 - Concept to commercialisation (This assessment piece is due 23:59 pm Friday week 14) client presentations week 15
Purpose:
Following on from assessment piece 2, this assessment piece is designed to provide a more refined focus by providing students with the opportunity to develop their recommendation to launch stage, “commercialising their concept”.
Working in their groups students are required to prepare an evaluation and exploration of the new product need identified in assessment 2. This assessment task includes elements that could take the concept to commercialisation. Development of “product/service/concept prototypes – sample designs” etc. are also included as part of this project which are all creative elements of the in practice in the workplace.
Submission Requirements: Students are required to provide a written document by the due date uploaded into blackboard. Please note that submissions are not to be emailed.
As an integral part of this assessment three “review pit stops” will be conducted during class time. Each group member will chair one of the pit stop meetings held with the client (the teacher). Criteria for what constitutes a successful pit stop meeting is attached as part of the marking guide for this assessment. While the project itself will receive an overall group grade, individual grades will be adjusted downwards accordingly for any group member who does not participate in all three pit stop meetings or does not chair a successful pit stop meeting
A marking guide will also be provided for this assessment and discussed during classes in week 1.
Assessment Matrix
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 and you will achieve one of the following grades:
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 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 (VET Programs):
If you are found to be unsuccessful 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 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