Course Title: Evaluate international marketing opportunities

Part B: Course Detail

Teaching Period: Term1 2020

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: Felicity Burns

Course Contact Phone: +61 3 9925 5486

Course Contact Email: felicity.burns@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

meghnad.shetty@rmit.edu.au

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

Course Schedule: Evaluate International Marketing Opportunities / Establish and Maintain Strategic Networks, Semester 1, 2020

Week

Topic

Activities

Assessment

Week 1

10th Feb

Introduction to the course

Reading: Lecture Notes Week 1 

Week 2

17th Feb

 Politics and Economics affecting Global Marketing and Networking. 

Reading: Lecture Notes Week 2

Week 3

24th Feb

Consumer Analysis

Reading: Lecture Notes Week 3

Week 4

2nd March

 Global Communication

Reading: Lecture Notes Week 4

Week 5

9th March Labour Day public holiday on Monday

Practice Test

Week 6

16th March

Assessment 1: In-class Test

Due: In-class

Week 7

23rd March

 Political and Legal Environment Reading: Lecture Notes Week 7

Week 8

30th March

 The International Environment

Reading: Lecture Notes Week 8

Weeks 9 a and b

9-15 April Mid-semester break* - includes Easter

10 April Good Friday public holiday

13 April Easter Monday public holiday

14 April Easter Tuesday RMIT holiday

16 April Classes resume (Thursday)

 

Risk Assessment and Management Strategies

 Reading: Lecture Notes Week 9

Assessment 2: Pitstop presentation

Due: In-class

Week 10

20th April
  • The 4Ps of Global Marketing #1
  • Assessment 2 Workshop

Reading: Lecture Notes Week 10

Assessment 2: Group Report

Due: Online submission via Canvas on or before 11:59PM Sunday 
 

Week 11

27th April

The 4Ps of Global Marketing #2

Reading: Lecture Notes Week 11

Week 12

4th May

Assessment 3 Workshop

Week 13

11th May

Assessment 3 Workshop

Week 14

18th May

 In-class presentations

Assessment 3: Group presentation

Due: Slides must be submitted online via Canvas 

Week 15

25th May

 In-class presentations

Week 16

1st  June

 Micro-credential Course

Week 17

8th June

 

 

 Resubmissions due


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

 

Assessment Task 1 - In-class Test

Due: In-class 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
  • Build strategic relationships.

 

Assessment Instructions

  1. Students will be required to attend class in Week 6 to undertake the test
  2. Students will have three (3) hours to complete the test
  3. The test will be comprised of eight (8) short essay question.
  4. The test will be open-book and students are encouraged to utilise any resources at their disposal
  5. Any external source material must be referenced correctly using Harvard Referencing

 

Assessment  Task 2 - Group Report

Due: Week 10

Summary and Purpose of Assessment

This assessment requires students to demonstrate the knowledge and skills needed to:

  •     Identify key market related characteristics of overseas countries, such as trade agreements, demand and trends;
  •     Assess how these key characteristics will impact upon marketing opportunities for an organisation;
  •     Determine key cultural, political, economic and social factors within overseas markets and assess how these will impact upon marketing opportunities for an organisation;
  •     Justify why a particular market is a good fit with an organisation’s goals and direction;
  •     Undertake a comprehensive risk assessment and use this to develop a risk management plan for the selected market.

 

Assessment Instructions

Students must first select an Australian organisation that does not currently operate internationally.  Your objective is to perform research and analysis of international markets to identify one key market for their client to expand to. There is no need to provide recommendations about specific solutions in Assessment 2 – they will be covered in Assessment 3.

The group’s submission to the client must involve the following:

  • A PESTE Analysis of a self-nominated international market;
  • Undertake a market analysis;
  • A discussion of relevant legislation within the international market that would be likely to impact upon the business;
  • Perform a customer analysis; and
  • Complete a risk assessment and management plan 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, Environmental, Societal-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 customers.

 

Groups: 2 or 3 members

 

Word count: No more than 4000 words.

 

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 -  Group Presentation

Due: In-class Weeks' 14 and 15

Presentation slides due: 11:59 pm, 24th May (Week 14)

Summary and Purpose of Assessment

This assessment requires you to demonstrate the knowledge and skills needed to:

  • Undertake research of a foreign market with a view to determining potential marketing opportunities for a business;
  • Establish the fit of potential marketing opportunities with the business and its existing customers;
  • Perform a comprehensive assessment of costs, benefits and risks for each opportunity;
  • Compare and contrast identified marketing opportunities with a view to presenting recommendations to management.

 

Assessment Instructions

Using the same organisation and market that you discussed in Assessment 1, you must identify a minimum of five (5) marketing opportunities that exist within the foreign market. Having identified these opportunities, you are required to determine the fit of each opportunity to the business by undertaking an assessment (costs, benefits and risks) of each.  From those opportunities identified, you must identify the most viable three (3) opportunities, providing justifications for their selection (vs. the alternatives). Each of these selected opportunities must then be accompanied by a plan for how the business should capitalise upon them.  Each team’s work must be included on Powerpoint slides uploaded to Canvas and presented to the class for assessment.

 

You must justify why their recommendations will be effective for introducing their organisation into the overseas market. These justifications must be supported with a minimum of five (5) peer-reviewed references. You must also state how the success of their recommendations will be measured. You will be expected to provide an estimated budget of the costs of responding to each opportunity.  This budget must be realistic and reflect the business’s capacity.

  • Groups of 2 or 3.
  • Presentation duration 15-20 minutes.
  • Presentation slides to be uploaded to Canvas.

 


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 CA (Competency Achieved) 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.      Final Grades table:   CA Competency Achieved 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.

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