Course Title: Evaluate international marketing opportunities
Part B: Course Detail
Teaching Period: Term2 2018
Course Code: MKTG7916C
Course Title: Evaluate international marketing opportunities
School: 650T Vocational Business Education
Campus: City Campus
Program: C6155 - Advanced Diploma of Marketing and Communication
Course Contact: Julia Makin
Course Contact Phone: +61 3 9925 5175
Course Contact Email: Julia.makin@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nick Reynolds
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 evaluate the international environment, identify market factors and risks, and to assess viability of international marketing opportunities.
It applies to experienced individuals who use specialised knowledge to evaluate the international business environment in preparation for entering an international or export market for the first time, or to identify new marketing opportunities in markets in which their organisation already has a presence
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG605 Evaluate international marketing opportunities |
Element: |
1. Review global market environment |
Performance Criteria: |
1.1 Assess international trade patterns and identify their likely importance for the business 1.2 Research international business and electronic commerce market factors, and assess opportunities to enter, shape or influence the market for their likely contribution to the business 1.3 Identify international markets operating under free trade or protectionist arrangements and estimate likely ease of entering and trading successfully 1.4 Identify international trade policies and agreements and estimate their likely impact on international marketing opportunities |
Element: |
2. Assess international business and electronic commerce market factors |
Performance Criteria: |
2.1 Identify and analyse impact of economic, political, social and cultural factors affecting international marketing opportunities 2.2 Investigate international market trends and developments to identify market needs relevant to the business 2.3 Identify new and emerging business and electronic commerce markets, and assess opportunities to enter, shape or influence markets based on their fit with business goals and direction, and their likely contribution to the business |
Element: |
3. Identify risk factors for international marketing opportunities |
Performance Criteria: |
3.1 Analyse and rate acceptability of political, financial stability and corruption risk factors of potential market 3.2 Analyse and rate acceptability of legal and regulatory requirements, and trade barriers to potential market 3.3 Relate risk factors to international business cycles in terms of economic conditions and estimate their impact on potential market |
Element: |
4. Investigate international business and electronic commerce marketing opportunities |
Performance Criteria: |
4.1 Identify and analyse international marketing opportunities according to their likely fit with the organisation’s goals and capabilities 4.2 Evaluate each opportunity to determine its impact on current business and customer base 4.3 Use an assessment of costs, benefits, risks and opportunities to determine financial viability of each marketing opportunity 4.4 Determine probable return on investment and potential competitors 4.5 Describe and rank marketing opportunities in terms of viability and likely contribution to the business |
Learning Outcomes
Students will develop the skills to identify and evaluate the marketing opportunities in a range of international markets.
Details of Learning Activities
This course is structured to provide students with the optimum learning experience. Students will participate in a combination of group and individual learning activities. These activities will be provided through a combination of face to face teacher/student deliveries plus classroom work time. Additional learning activities will also be provided to students to complete outside of timetabled time.
Teaching Schedule
Week |
Topic |
Activities |
Assessment |
|
Week 1 2 July 2018 |
Introduction to the course |
Reading: Lecture Notes Week 1 |
|
|
Week 2 9 July 2018 |
Networking and Personal Branding | Reading: Lecture Notes Week 2 |
|
|
Week 3 16 July 2018 |
Consumer Analysis |
Reading: Lecture Notes Week 3 |
|
|
Week 4 23 July 2018 |
The Not-for-profit Sector | Reading: Lecture Notes Week 4 |
|
|
Week 5 30 July 2018 |
International Environment |
Reading: Lecture Notes Week 5 |
|
|
Week 6 6 August 2018 |
Political and Legal Environment |
Reading: Lecture Notes Week 6 |
Assessment 1: Individual Report Due: Online submission via Canvas on or before 11:59PM Sunday 12th August 2018 |
|
Week 7 13 August 2018 |
|
||
|
Week 8 20 August 2018 |
Cross-cultural Communication | Reading: Lecture Notes Week 8 |
|
|
Break 26 August - 2 September 2018 |
Mid-Semester Break |
||
|
Week 9 3 September 2018 |
Risk Assessment and Management Strategies |
Reading: Lecture Notes Week 9
|
|
|
Week 10 10 September 2018 |
|
Reading: Lecture Notes Week 10 |
Assessment 2: Group Report Due: Online submission via Canvas on or before 11:59PM Sunday 16th September 2018 |
|
Week 11 17 September 2018 |
The 4P's of Marketing #2 |
Reading: Lecture Notes Week 11 |
|
|
Week 12 24 September 2018 |
Assessment 3 Workshop |
||
|
Week 13 1 October 2018 |
Assessment 3 Workshop |
Assessment 3: Group presentation Due: Slides must be submitted online via Canvas on or before 11:59PM 7th October 2018 |
|
|
Week 14 8 October 2018 |
Assessment 3 Delivery |
||
|
Week 15 15 October 2018 |
Resubmission | ||
|
Week 16 22 October 2018 |
Resubmission | ||
|
Week 17 29 October 2018 |
Grade Entry |
This course is co delivered and co assessed.
POLI5044C Establish and maintain strategic networks and MKTG7916C Evaluate international marketing opportunities
The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Learning Resources
Prescribed Texts
References
Other Resources
All resources will be available via CANVAS
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- document and present an evaluation of various international marketing opportunities including:
- analysis of global business environment
- assessment of social, cultural, political and economic factors impacting selection of market opportunities
- risk assessment for each opportunity considered
- analysis of financial viability of selected international marketing opportunities.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- outline relevant Australian and international standards, policies and guidelines, including those covering:
- environmental matters
- human rights
- labour relations
- packaging
- risk management
- electronic commerce
- identify and explain key provisions of relevant legislation and codes of practice affecting aspects of marketing operations
- explain the role of the Organisation for Economic Co-operation and Development (OECD)
- identify and describe key features of the country or countries being considered for market entry or penetration, including:
- cross-cultural communication and negotiation styles
- global and country specific economic, social and industry directions, trends, practices and techniques.
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:
- information sources on countries and markets being considered for entry or further penetration
- office equipment and resources
- examples of previous international marketing evaluation documents, strategic plans and marketing plans.
Assessors must satisfy NVR/AQTF assessor requirements.
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.
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
This course is co delivered and co assessed.
POLI5044C Establish and maintain strategic networks and MKTG7916C Evaluate international marketing opportunities
Assessment Task 1 - In-class Test
Due: In-class Thursday 9th August, i.e. Week 6
Duration: Three hours
Summary and Purpose of Assessment
To demonstrate the skills required to:
- Establish, expand and use strategic networks;
- Identifying features of required strategic networks;
- Identifying or establishing network links with key stakeholders; and
- Building strategic relationships.
Assessment Instructions
- Students will be required to attend class on Thursday 9th August from 13:30-16:30 to undertake the test
- Students will have three (3) hours to complete the test
- The test will be comprised of six (6) short essay questions
- The total weight of this assessment is 33% of the overall course mark
- The test will be open-book and students are encouraged to utilise any resources at their disposal
- Any external source material must be referenced correctly using Harvard Referencing
Assessment Task 2 - Due Week 10
Summary and Purpose of Assessment
This assignment will allow you to demonstrate an understanding of how to evaluate the international environment, to identify cultural and market factors and risks, research market and competition trends in an international market.
Word count: No more than 3000 words.
Assessment Instructions
The overall task is divided into two sections; Part A is a PESTE Analysis of a nominated international market, Part B is a Market and Consumer analysis, and a Risk Assessment of the same market.
The group will firstly have to research the nominated market to identify a range of information about a number of specific issues, including but not limited to Political, Cultural, Economic and Technological.
Secondly, there will also be a Risk assessment, and an analysis of the market including trends, competition and distribution including ecommerce and consumers.
The week prior to submission (i.e. in week 9) students MUST present as a group a 5-7 minute status report of each team member’s personal contribution. This presentation will form part of your overall mark for this assessment.
Assessment Task 3 - Due Week 13
Summary and Purpose of Assessment
This assessment asks students to demonstrate the knowledge and skills needed to develop marketing strategies to launch an organisation into an overseas market.
Presentation duration: 10 -15 minutes
Groups of 2 – 3 students
Assessment Instructions
Students must build upon the feedback that was provided to them in Assessment 2 to develop a minimum of five (5) recommended marketing strategies to launch an organisation you select into an overseas market you selected for Assessment 2 and present these for discussion. The final strategies will be submitted via Powerpoint slides on Canvas and presented to the class for assessment.
Students must justify why their recommended strategies will be effective for integrating their organisation into the overseas market. These justifications must be supported with a minimum of five (5) peer-reviewed references. Students must also state how the success of their recommended strategies will be measured.
Students will be expected to provide an estimated budget of the costs of implementing the suggested strategies. This budget must be realistic and reflect the business’s capacity.
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS. 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 the Assessment task document that includes a declaration and statement of authorship.
- 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
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work 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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration Resubmissions: If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 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. Grading & re-submissions Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course. 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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment 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 CA Competency Achieved – Not 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