Course Title: Identify and evaluate marketing opportunities
Part B: Course Detail
Teaching Period: Term2 2015
Course Code: MKTG5832C
Course Title: Identify and evaluate marketing opportunities
School: 650T Vocational Business Education
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
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 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 |
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 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
This unit is co delivered and co assessed with MKTG5835C (BSBMKG506B) - Plan Market Research
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 | 6th July | Introduction to course |
| 2 | 13th 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 | 20th 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 | 27th July | Understanding market research and the potential research requirements of a project |
| 5 | 3rd August |
• Understanding market research and the potential research requirements of a project cont.
Opportunity ID Opportunity ID |
| 6 | 10th August | 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 | 17th August | Budget Management for new concepts
Identifying the skills and requirements of managing the budget and other metrics from beginning to end |
| 8 | 24th August | Opportunity ID Feasibility • Evaluate the effectiveness of different strategies for achieving desired outcomes. |
| 31st August - 4th September |
Mid-semester break |
|
| 9 | 7th 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 | 14th September | 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 | 21st September | 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 | 28th September | Commercialising concepts Overview of Launch and Lifecycle Management strategy |
| 13 | 5th October | Finalise assessment 3 |
| 14 | 12th October | Focus on assessment 3, presentation preparation |
| 15 | 19th October | In class presentations |
| 16 | 26th october | Client presentations where appropriate, Resubmits if required. |
Learning Resources
Prescribed Texts
References
Other Resources
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.
Assessment Tasks
This unit is co delivered and co assessed with MKTG5835C (BSBMKG506B) - Plan Market Research
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.
Scope:
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.
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, analysis, market scoping, preparing preliminary estimate of any market research requirements as well as their ability to manage and participate as a member of a consulting team.
Scope:
The focus for assessment 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. The evaluation needs to explicitly include:
Task 3 - Concept to commercialisation (This assessment piece is due 23:59 pm Friday week 14) class 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”.
Requirements:
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.
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