Course Title: Identify and evaluate marketing opportunities
Part B: Course Detail
Teaching Period: Term2 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:firstname.lastname@example.org
Name and Contact Details of All Other Relevant Staff
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
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
1. Identify marketing opportunities
1.1. Analyse information on market and business needs to identify marketing opportunities
2. Investigate marketing opportunities
2.1. Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities
3. Evaluate required changes to current operations
3.1. Identify and document changes needed to current operations to take advantage of viable marketing
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 in class activities, case studies and independent research are inclued as the learning activities for this course.
|1||7th july||Introduction to course
• Overview of assessment requirements
• Submission requirements
• What to expect from the course
• Content and assessment
|2||14th July||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||21st July||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
|4||28th July||Understanding market research and the potential research requirements of a project|
|5||4th August||• Understanding market research and the potential research requirements of a project cont.
|6||11th August||Opportunity ID
• 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||18th August||Budget Management for new concepts
Identifying the skills and requirements of managing the budget and other metrics from beginning to end
|8||25th August||Opportunity ID
• Evaluate the effectiveness of different strategies for achieving desired outcomes.
|Mid Semester Break||September 1 - 5|
|9||8th september||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||15th september||Use of strategic alliances
• Strategic Alliances and networks as part of the commercialisation process
• Product and Brand strategies and testing
• Includes a range Branding issues and platforms
• Types and roles of packaging
• Packaging as part of the brand
• A look at packaging as part of the new product concept
• Overview of innovation in services
• A look at the services innovation process
|12||29th september||• Commercialising concepts
• Overview of Launch and Lifecycle Management strategy
|13||6th October||Finalise assessment 3|
|14||13th October||Focus on assessment 3, presentation preparation|
|15||20th october||In class presentations|
|16||27th October||Client presentations where appropriate, Resubmits if required.|
This may be subject to change throughour the semester.
Relevant resources will be provided to students throughout the semester.
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.
This unit is codelivered and coassessed with MKTG5835C - Plan Market Research
Students are required to complete 3 tasks. All tasks must successfully be completed to be deemed competent in this unit.
Assessment Task 1 – Group participation and e-reflection - Individual assessment
Date handed out: Week 1
Date and time due: Contributions to discussion boards must be made no later than one week after the relevant class. Final submission Week 14.
Group or Individual: This assignment is to be completed individually
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.
Requirements: Students are required to participate in class activities and post discussion board contributions as per the specific criteria to be outlined in class, during the identified weeks. The parameters of the discussion content will be discussed in the first week of class.
Assessment Task 2 - Market Scoping and Opportunity Identification:
Date handed out: Week 2
Date and time due: COB - Friday - Week 8
Group or Individual: This is a group assessment
This assessment task is designed to provide students with the opportunity to demonstrate skills in research, analysis, market scoping, preparing preliminary estimate of any market research requirements and making appropriate market entry recommendations
The focus for assessment piece 2 is research 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.
Assessment Task 3 - Concept to commercialisation
Date handed out: Week 3
Date and time due: Report - Week 13; Class presentations - Week 15; Potential client presentation - Week 16.
Group or Individual: This is a group assessment
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 prototypes – sample designs” etc. are also included as part of this project which are all creative elements of the in practice in the workplace.
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.
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.
You will be provided with an assessment matrix in the assessments area of the unit blackboard shell. Generally, your grading will be assessed against how well you:
• Perform the activities as required by the learning elements of this unit of competency.
• Demonstrate the required knowledge for this unit of competency.
• Execute the required skills for this unit of competency.
• Demonstrate your employability skills through contribution to learning activities related to this assessment, timeliness, use of technology and teamwork.
Final Grades table:
DNS - Did not submit for assessment
NYC - Not yet competent
CAG - Competency achieved – graded
CC - Competent with credit
CDI - Competent with distinction
CHD - Competent with high distinction
You are required to meet the following criteria for all assessments. Failure to do so may result in you being deemed not-yet-competent:
• Submit all assessment tasks online through blackboard, and include the RMIT e-submission declaration (see below).
• Ensure that you submit assessments on or before the due date.
• Retain a copy of your assessment tasks.
When submitting work online, you need to include the cover sheet supplied by your teacher. This includes the following declaration:
RMIT Electronic Submission of work for assessment
I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the assessment declaration.
If you are found to be Not Yet Competent (NYC) in an Assessment Task you will be allowed one resubmission to demonstrate competence. 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”.
Students are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If a student is to be prevented from submitting an assessment item on time, by circumstances outside their control, they may apply in advance to the teacher for an extension to the due date of up to seven calendar days. To be eligible for an extension, you must lodge the extension form availabile at the following link with your teacher: http://www.rmit.edu.au/students/assessment/extension
Where an extension of greater than seven days is needed, the student 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 on special consideration and how to apply can be found here: http://www.rmit.edu.au/students/specialconsideration
Final Date for All Assessments
No assessment tasks or resubmissions will be accepted after 5pm Friday, week 16.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. Information on circumstances under which the assessment arrangements might be granted can be found at the following website: http://www.rmit.edu.au/students/assessment/adjustment
Course Overview: Access Course Overview