T-1.8.

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Details of Assessment
Term and Year 3, 2019 Time allowed 4 Weeks
Assessment No 2 Assessment Weighting 100%
Assessment Type Workbook Activities
Due Date Week 8 Room 603/608/611
Details of Subject
Qualification BSB61315 Advanced Diploma of Marketing and Communication
Subject Name Marketing Strategies

Details of Unit(s) of competency

BSBMKG605 Evaluate international marketing opportunities
BSBMKG606 Manage international marketing programs
Unit Code (s) and
BSBMKG608 Develop organisational marketing objectives
Names
BSBMKG611 Manage measurement of marketing effectiveness
BSBMKG603 Manage the marketing process

Details of Student
Student Name Daniela Lutten Leitão
College AAI Student ID 201837789

Student Declaration: I declare that the work submitted is my

own and has not been copied or plagiarised from any person Student’s
or source. I acknowledge that I understand the requirements Signature: ____________________
to complete the assessment tasks. I am also aware of my
right to appeal. The feedback session schedule and Date: _____/_____/_________
reassessment procedure were explained to me.

Details of Assessor
Assessor’s Name Michael Ciftci / Wilson Del Rosario

Assessment Outcome
Assessment
Competent Not Yet Competent Marks /100
Result
Feedback to Student
Progressive feedback to students, identifying gaps in competency and comments on positive
improvements:

Assessor Declaration: I declare that I have conducted

a fair, valid, reliable and flexible assessment with this
student. Assessor’s
Signature: ___________________
Student attended the feedback session.
Student did not attend the feedback session. Date: _____/_____/________

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Purpose of the Assessment

The purpose of this assessment is to assess the student in the following Competent Not Yet
learning outcomes: (C) Competent
(NYC)
BSBMKG605 Evaluate international marketing opportunities
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
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
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
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
BSBMKG606 Manage international marketing programs
1.1 Select viable international marketing opportunities and develop objectives
consistent with the organisation’s capabilities and resources
1.2 Identify measurable international marketing objectives consistent with
organisation’s strategic direction, and identify nature and extent of goals for
international market
1.3 Formulate strategic objectives and related key performance indicators by
product, service, country or international grouping, and overall
1.4 Develop a risk management strategy to manage contingencies, and ensure
marketing objectives are met in accordance with overall organisational
requirements
2.1 Research international marketing opportunities and determine global or
customised approaches for promotion of products or services
2.2 Evaluate options for choice of marketing approaches
2.3 Select a marketing approach to meet marketing objectives, international
market conditions and consumer preferences
3.1 Evaluate business culture and consumer preferences, and identify compatible
marketing structures
3.2 Identify options for operational marketing structure and rank them for strengths

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and weaknesses in servicing international markets

3.3 Choose operational structure that best fits international market and product or
service
4.1 Communicate international marketing objectives across the organisation to
suit culture, customs, levels of knowledge, experience and needs of personnel
4.2 Identify and agree roles, responsibilities and accountabilities of staff and
contractors involved in all elements of marketing effort
4.3 Develop communication strategy to ensure personnel responsible for each
element of marketing mix work together to meet organisation’s marketing
objectives
4.4 Manage marketing effort to ensure it is directed towards areas of greatest
potential for the organisation
4.5 Manage integration of marketing, promotional and any sales activities in
accordance with international marketing objectives
5.1 Monitor product, pricing and distribution policies in relation to market changes,
objectives of marketing plan and organisational requirements
5.2 Monitor overall marketing progress against performance targets to ensure
activity, quality, cost, and time requirements are met
5.3 Analyse, review and revise marketing outcomes and objectives
5.4 Analyse successes and performance gaps as to cause and effect, and use to
improve international marketing performance
5.5 Analyse changes in market phenomena, and identify and document their
potential impact on international marketing objectives
5.6 Document review of marketing performance against key performance
indicators in accordance with organisational requirements
BSBMKG608 Develop organisational marketing objectives
1.1 Confirm organisation’s mission, vision, purpose and values from current
organisational materials or from owners, directors or senior management
1.2 Analyse strategic organisational documents to identify organisational
directions and targets
1.3 Complete a situational analysis identifying factors impacting the direction and
performance of the business
1.4 Identify legal and ethical requirements for the organisation
1.5 Document and confirm strategic direction of the organisation with owners,
directors or senior management, and identify its impact on marketing activities
2.1 Evaluate effectiveness of previous marketing and positioning strategies to
identify lessons learned
2.2 Analyse current key products or services and major markets for strengths,
weaknesses, opportunities and threats
2.3 Evaluate previous marketing opportunities captured by the organisation, and
examine and document their profitability
2.4 Evaluate marketing performance against previous objectives, targets to
identify critical success factors, and areas for improvement
3.1 Identify and analyse marketing opportunities for viability and likely contribution
to the business
3.2 Use an assessment of external factors, costs, benefits, risks and opportunities
to determine scope of each marketing opportunity
3.3 Analyse opportunities for likely fit with organisational goals and capabilities
3.4 Evaluate each opportunity to determine its likely impact on current business
and customer base
4.1 Develop objectives in consultation with key internal stakeholders that are
attainable and measurable, and that identify nature and extent of what is to be
achieved
4.2 Ensure objectives are consistent with forecast needs of the business and
market
4.3 Ensure objectives are compatible with the organisation’s projected capabilities,
resources and financial position

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4.4 Ensure objectives are compatible with the organisation’s direction and
purpose, and meet legal and ethical requirements
BSBMKG611 Manage measurement of marketing effectiveness
1.1 Review current marketing strategies and marketing plans, and research range
of metrics available to measure effectiveness of relevant marketing processes and
functions
1.2 Analyse effectiveness of current marketing metrics used by the organisation in
each key marketing operation
1.3 Critically analyse how existing marketing metrics link to strategy, and
opportunities to improve links
1.4 Plan to address any issues with use of marketing metrics within the
organisation
1.5 Design criteria for retaining existing marketing metrics, and for selecting new
manageable and cost-effective metrics
1.6 Gain approval for design or redesign of strategy from senior management
2.1 Set objectives for measurement and evaluation of marketing effectiveness
2.2 Select methods to measure marketing performance for each marketing
process or function, tailored to the organisation s brand or unique positioning
2.3 Calculate costs of gathering and analysing data with assistance of relevant
financial experts
2.4 Design and record implementation strategy for measuring and analysing
marketing performance, or make recommendations for improving current strategy
3.1 Design and implement appropriate communication and training strategy, so
marketing and other relevant personnel fully understand their role in measuring
marketing effectiveness
3.2 Supervise design and implementation of specific metrics
3.3 Plan and monitor work activity to ensure adherence to strategy for
measurement of marketing effectiveness
3.4 Design process to review and evaluate marketing metrics on a regular basis,
and if organisational strategy changes
BSBMKG603 Manage the marketing process
1.1 Manage marketing effort to ensure it is directed towards areas of greatest
potential for the organisation
1.2 Manage integration of marketing, promotional and sales activities in
accordance with strategic marketing objectives
1.3 Monitor product, distribution, pricing and marketing communication policies
according to market movements, marketing plan objectives and organisational
requirements
1.4 Use marketing metrics to monitor overall marketing progress against
performance targets, ensuring activity, quality, cost, and time requirements are
met
2.1 Communicate strategic marketing objectives across the organisation in ways
suited to levels of knowledge, experience and specific needs of personnel
2.2 Identify and agree roles, responsibilities and accountabilities of staff and
contractors involved in all elements of marketing effort
2.3 Develop communication strategy to ensure personnel responsible for each
element in the marketing mix work together to meet organisation s marketing
objectives
2.4 Provide mentoring, coaching and feedback to support individuals and teams to
achieve agreed objectives and use resources to required standard
2.5 Identify individual and team performance, and instigate corrective action
promptly to safeguard marketing outcomes
3.1 Analyse marketing outcomes, review strategic objectives and marketing
metrics, and revise if required
3.2 Analyse successes and performance gaps considering cause and effect, and
use this to improve strategic performance
3.3 Analyse over-performance against targets for trends and set new targets

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3.4 Analyse changes in market phenomena, and identify and document their
impact on strategic marketing objectives
3.5 Document review of marketing performance against key performance
indicators in accordance with organisational requirements
Assessment/evidence gathering conditions

Each assessment component is recorded as either Competent (C) or Not Yet Competent (NYC). A student
can only achieve competence when all assessment components listed under “Purpose of the assessment”
section are recorded as competent. Your trainer will give you feedback after the completion of each
assessment. A student who is assessed as NYC (Not Yet Competent) is eligible for re-assessment.

Resources required for this Assessment

• Computer with relevant software applications and access to internet

• Weekly eLearning notes relevant to the tasks/questions
Instructions for Students
Please read the following instructions carefully
• This assessment has to be completed In class At home
• The assessment is to be completed according to the instructions given by your assessor.
• Feedback on each task will be provided to enable you to determine how your work could be improved.
You will be provided with feedback on your work within two weeks of the assessment due date. All other
feedback will be provided by the end of the term.
• Should you not answer the questions correctly, you will be given feedback on the results and your gaps
in knowledge. You will be given another opportunity to demonstrate your knowledge and skills to be
deemed competent for this unit of competency.
• If you are not sure about any aspects of this assessment, please ask for clarification from your
assessor.
• Please refer to the College re-assessment for more information (Student Handbook).

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Assessment Type: Workbook

TABLE OF CONTENTS and Mark Allocations PAGES MARK MARK
ALLOCATED RECEIVED

Task 1 5

Task 2 3

Task 3 2

Task 4 5

Task 5 5

Task 6 5

Task 7 5

Task 8 5

Task 9 5

Reference -

TOTAL 40

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Knowledge Questions

Task 1: Outline relevant Australian and international standards, policies and guidelines,
for each of the following: (5x1 Marks each = 5 Marks)
• environmental matters
• human rights
• labour relations
• packaging
• risk management

- Environmental Matters

Environmental administration in business involves monitoring how your business operations affect the
environment. Businesses who have adjusted their environmental administration processes and
thinking have understood that in addition to the fact that it helps our environment it makes business
sense. Working a 'green' business is one of the newest and fastest developing areas of chance for
small business.
The business can benefit from environmental administration through:

- Spending less on raw materials, energy and water;

- Recognition for your efforts through environmental awards;
- Achieving a reputation for best practice by following voluntary industry codes of conduct or the
international environmental standard ISO 14000 series;
- Finding new market opportunities for "green" goods and services;
- Improving workplace safety through reduced use of industrial chemicals and reduced waste;
- A positive reputation as a business that cares about its impact on the environment.

- Human Rights

Human rights are the fundamental qualifications that have a place with all of us, paying little mind to
our experience, where we live, what we resemble, what we think or what we accept.
In light of the standards of nobility, balance and shared regard, governments from all around the globe
have settled them upon.
The Universal Declaration of Human Rights, received by the United Nations on 10 December 1948,
sets out the fundamental rights and opportunities that apply to all men, ladies and kids. It has turned
into the most significant archive of its sort and despite the fact that not lawfully restricting itself, frames
the premise of some legitimately restricting global understandings. These incorporates two
noteworthy global understandings: one on common and political rights, for example, the right to speak
freely and opportunity from torment, and one on economic and social rights, for example, the privilege
to wellbeing and the privilege to instruction.
Universal human rights laws shield individuals from racial segregation, from torment and from
authorized vanishings. They additionally perceive the privileges of explicit gatherings of individuals,
including ladies, kids, and individuals with incapacity, indigenous people groups and transient
labourers.
A portion of these settlements is supplemented by discretionary conventions that manage explicit
issues or enable individuals to make objections.
The Australian Government has consented to maintain a significant number of these basic human
rights. These duties are reflected in our national laws, just as government approaches and projects.
They are not naturally enforceable through the Australian courts.

- Labour Relations

An employee is protected from discrimination in the workplace by the federal laws. All stages of
employment are covered, including:

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- Recruitment, including how positions are promoted and how meetings are directed;
- Being offered out of line terms and states of business;
- Negotiating adaptable work courses of action;
- Disclosing incapacity in the working environment;
- Returning to work after disease or damage;
- Being unreasonably expelled, saved or downgraded;
- Discrimination dependent on your carer status, family duties and parental status.

- Packaging

In general, products imported in the bundles in which they are usually sold or offered available to be
purchased should be set apart with a genuine portrayal of the merchandise and the nation in which
the merchandise were made. The exchange portrayal should be connected to the bundles in
noticeable and clear characters. Any extra data connected as well as marked on the bundles must be
valid and may not negate or cloud the data required as a major aspect of the exchange depiction. The
amount of a ware sold in a bundle must be genuinely expressed on the primary showcase board of
the bundle, in units of the decimal standard for measuring. "Net" ought to consistently be utilized when
communicating amount in mass.

There are several objectives for which specific regulations have been made:

- Protection of people’s health, safety and property including their interest in accurate product
information;
- Protection of consumers’ interests;
- Protection of agricultural and domestic animals and plants;
- Protection of the environment; and
- Satisfaction of treaty obligations.

- Risk Management

There are 11 primarily guidelines regarding risk management, and they are:

- Creates and protects value

Good risk management contributes to the achievement of an agency’s objectives through the
continuous review of its processes and systems.

- Be an integral part of organisational processes

Risk management needs to be integrated with an agency’s governance framework and become a part
of its planning processes, at both the operational and strategic level.

- Be part of decision making

The process of risk management assists decision makers to make informed choices, identify priorities
and select the most appropriate action.

- Explicitly address uncertainty

By identifying potential risks, agencies can implement controls and treatments to maximise the
chance of gain while minimising the chance of loss.

- Be systematic, structured and timely

The process of risk management should be consistent across an agency to ensure efficiency,
consistency and the reliability of results.

- Based on the best available information

To effectively manage risk it is important to understand and consider all available information relevant
to an activity and to be aware that there may be limitations on that information. It is then important to
understand how all this information informs the risk management process.
- Be tailored

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An agency’s risk management framework needs to include its risk pro le, as well as take into
consideration its internal and external operating environment.

- Take into account human and cultural factors

Risk management needs to recognise the contribution that people and culture have on achieving an
agency’s objectives.

- Be transparent and inclusive

Engaging stakeholders, both internal and external, throughout the risk management process
recognises that communication and consultation is key to identifying, analysing and monitoring risk.

- Be dynamic, iterative and responsive to change

The process of managing risk needs to be flexible. The challenging environment we operate in
requires agencies to consider the context for managing risk as well as continuing to identify new risks
that emerge, and make allowances for those risks that no longer exist.

- Facilitate the continual improvement of organisations

Agencies with a mature risk management culture are those that have invested resources over time
and are able to demonstrate the continual achievement of their objectives.

Task 2: What is Electronic Commerce (e-commerce) and how can it help you reach
international Market. Identify and explain key provisions of relevant legislation and codes
of practice affecting aspects of marketing operations in e-commerce and organisation’s
contribution to economic development (3 Marks)

E-commerce is the purchasing and selling of products and enterprises, or the transmitting of assets or
information, over an electronic system, principally the Internet. These business transactions occur as
business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-
business.
With a physical store you're restricted topographically to close-by business sectors, i.e., in the event
that you have a store in New York and need to likewise sell in New Jersey, you'll have to open
another physical area.
E-commerce business doesn't have this constraint. Rather, you can offer to anybody, anyplace on the
planet by means of your computerized web based business.

The key provisions of relevant legislation and codes regarding the practice of marketing in e-
commerce are:

- The business must not engage in conduct that is misleading or deceptive or is likely to mislead or
deceive;
- Must not make false or misleading representations about the goods or services they supply;
- Must make sure that the goods supplied correspond with the description of the goods;
- Must ensure that the goods supplied are of merchantable quality and fit for any purpose made
known to the supplier by the consumer; and
- Businesses should ensure that the electronic delivery of goods or services can be achieved without
specialised software or hardware, unless the requirement for such specialised software or hardware is
made clear to the consumer beforehand;
- Business have to sure advertising material is clearly identifiable and can be distinguished from other
content, such as editorial comment, terms and conditions and independent product reviews;
- Businesses should take special care in advertising or marketing that is targeted at children;
- Businesses should provide consumers with accurate and easily accessible information;
- Businesses should provide to consumers payment mechanisms that are reliable, easy to use and
offer security that is appropriate for the transaction;

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- Businesses should respect consumers’ privacy when dealing with personal information and should
provide consumers with clear and easily accessible information about the way they handle personal
information;
- Must provide security appropriate for protecting consumers’ personal and payment information;
- Businesses should set up internal procedures to handle consumer complaints.

On account of the advancement of electronic commerce, the most essential of financial exchanges—
the purchasing and selling of products—keeps on experiencing changes that will profoundly affect the
manner in which organizations deal with their supply chains. Basically, online business has adjusted
the work on, timing, and innovation of business-to-business (B2B) and business-to-consumer (B2C)
commerce. It has influenced valuing, item accessibility, transportation examples, and shopper
conduct in created economies around the world.

The changes that B2C e-commerce has sparked ostensibly have had a more huge effect on the
economy and on buyers' behaviour than has B2B ecommerce. Before, when consumers wanted to
make purchases they needed to set aside time to shop during certain hours of the day, or they
needed to read through lists sent to them via mail-order houses. Today, numerous consumers can
just use their computers—and now advanced mobile phones or other portable electronic devices—to
shop online. Store hours, geographic marketing areas, or index-mailing records never again restricts
buyers and sellers that engage in e-commerce retail trade. With a few simple snaps they can access
a variety of products 24 hours every day, seven days a week.

The characteristics of retail e-commerce merchandise additionally have changed altogether over the
previous decade. In 2000, computer hardware was the most widely recognized type of merchandise
sold over the Internet. Today, the variety of merchandise is extremely diverse, and shoppers can
purchase nearly anything online.

Task 3: When you are considering entering an international market you are required to
identify several key features of that country to understand the consumer and market.
Discuss the importance of the following key features: (2 Marks):

• cross-cultural communication and negotiation styles
• global and country specific economic, social and industry directions, trends,
practices and techniques.

For a business to survive and succeed in the global environment, it is important to know how to use
the cross-cultural communication. The cross-cultural communication is compost for conversing,
negotiating and exchanging with people from different cultures and backgrounds. The place where
someone came from affects directly the way that this person believes and act in life and business. For
example, in Asian cultures, silence in conversational aspects means good listening skills. On the
other hand, people from South America, for example, consider silence in a conversation very
awkward and sometimes even disrespectful. So, if people from those two different cultures had to do
business together, they both would have to understand their different culture and manners, and how
this could affect their communication.
To successfully communicate with people from different cultures in business, it is important to know
how to deal with cross-culture differences. Also, the barriers to cross-culture communication can
cause difficulties. Language is one of the biggest ones. There may be language barriers when
someone from the US speaks with someone who has English as second language, but also with
someone from UK. Culture plays a major role in the way people communicate.

When people are doing business within the international market, it is important to consider the
negotiation styles. There are five main negotiation styles, which may vary based on background,
personality, needs and urgency.

- Competing: The competing style is normally focused and more aggressive. Competitive negotiators
are strategic thinkers.

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- Avoiding: Try to avoid any conflict or situations that result in it. Normally stay behind the scenes in a
negotiation.
- Accommodating: spend a great deal of time building and maintaining relationships with the other
party. They are highly sensitive to the emotions, relationships and body language within the
negotiation situation.
- Compromising: A compromising negotiator’s main concern is doing what is fair for both parties and
finding middle ground. They would rather compromise on your own outcome to satisfy the other party.
- Collaborating: Open and honest, consider the other party concerns and interest, not only is on.
Normally these negotiators try to find creative solutions to make both parties happy.

When entering a new marketing, is essential to research and analyse the global and country
economics, social and industrial aspects. What differ this market from the global or previous one?
What makes it challenging? What does the company has to change or improve? It may be necessary
to use a different approach and strategy to enter and thrive in the market. A well-done research and
analyses of the market helps the company to better deal with all the cross-cultural aspects as well as
with economical and industrial factors that may affect the profits and results.

Task 4: Cash flow analysis and capital structure are some examples of financial
management techniques. Highlight and discuss two more financial management
technique. Discuss principles and concepts of marketing and evaluation methodologies
that suits your techniques. (5 Marks)

There are several different financial management techniques. One of them is the Ratio Analysis.
Ratio investigation is utilized as a significant instrument in examination of financial proclamations.
Ratios are utilized as a list for assessing the financial position and execution of a firm. Ratio
investigation utilized financial report and information and abridges the key relationship so as to assess
financial execution.

It encourages the investigators to make quantitative judgment about the financial position and
execution of the firm. There are different ratios, which are utilized by various gatherings for various
purposes and can be determined from the data given in financial proclamations. The examination of
past ratios with future ratios demonstrates the association's relative quality and shortcomings.
With the ratio analysis, regarding marketing aspects, it is possible to evaluate how the company is
doing in the market and what response is getting from the customers. It helps to understand if the
strategies are working or not.

It is possible to evaluate by measuring the sales rate, increased rates of the profit or market share,
operation efficiency and solvency. Using to measure how efficient the company has been, it is
essential to understand how the marketing strategies are reflecting as results, or not.

Another very important financial management technique is the Budgeting Processes Definition. The
budgeting procedure can be characterized as an efficient business movement that envelops the
advancement, usage and assessment of an arrangement for the arrangement of administrations and
capital resources including fixed assets, for example, cash or time, during an offered period to
accomplish wanted budgetary targets. At the end of the day, budgeting procedure is the assignment
of capital, which is then utilized in the best possible manner to accomplish the set or assigned targets
of the firm.

Very important in marketing, the budget is the fine line where the company can work through to
improve and achieve its objectives. The processing of definition of the budget is important as well as
the planning based of it that comes after. The budget dictates what a company can do in terms of
strategy, and also determines what is necessary to earn back, It is an investment.

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Task 5: Compare and contrast the following: (5 Marks)

• strategic
• operational
• tactical analysis techniques

Strategic Planning refers to the process through which an organization defines its strategy, allot its
resource and lead the heading that the company will pursue to accomplish its goals. Is the formal
planning for the future and help the company to characterize: What we do? For whom we do it? How
would we successes?

The tactical planning refers to the process of taking the strategic plan and partitioned into specific
activities, short-term actions and plans to accomplish the planned objectives.

Finally, the operation planning refers to the activity plan for the everyday working of an organization. It
defines the short-term methods to accomplish the strategic objectives set while strategic planning is
finished. At the end of the day, Operation planning allows the company to decide how to do it.

In what manner can corporate administration support moral strategic decisions? Corporate
administration should support moral strategic decision base on:

- Guarantee that shareholder's interest will be serve, as well item showcase shareholders and
organizational stakeholders.
- Ensure in any event the negligible interests or needs everything being equal.
- Control of administrative decisions and moral conduct in the all levels of the organization.
- Inform and convey unmistakably to top level chief the board's desire identified with decision and
activity of all the association's stakeholders.
- List and discuss some of the moral methods of gathering knowledge about competitors.

It is also essential to assemble Public sources. By social occasion data about the company's
competitors from public sources, with this training the company can utilize the accessible data without
to apply any untrustworthy techniques. Some of public sources are:

- Newspapers, magazines, other published articles and television programs, - Advertisements and
brochures expected for public distribution
- Information unreservedly accessible on the Internet and online research services
- Public filings made with administrative or administrative authorities, such as SEC reports, patent
filings and suit records

Task 6: What factors will you consider when designing and implementing a
communication and training strategy. Describe the range of marketing functions within an
organisation. (5 Marks)

There are twelve marketing functions. They consist in Gathering and Analysing Market Information,
Marketing Planning, Product Designing and Development, Standardization and Grading, Packaging
and Labelling, Branding, Customer Support Services, Pricing of Products, Promotion, Physical
distribution, Transportation and Storage or Warehousing.

1. Gathering and Analysing Market Information

The most significant function in marketing is to accumulate and examine the market data. This is
fundamental to discover the necessities of the clients and to take different choices with respect to
effective marketing of items. Marketing expert’s attempts to comprehend what would clients like to
purchase and when, in what amount and at what cost and so on? they likewise attempt to
comprehend the thought process behind this buy, regardless of whether the client is purchasing the

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item as a need or for style. Based on this data and investigation, the product is structured and
designed.

2. Marketing Planning

It includes making arrangements for expanding production and sales, promotion of product and so on
and furthermore setting out a strategy for accomplishing these targets. For instance, if a product has
turned out to be well known in Punjab, the objective of an association ought to be to make it
mainstream in rest of North India first, trailed by outstanding states. For this, appropriate plans are to
be made.

3. Product Designing and Development

Another significant capacity of marketing includes product designing and improvement. Product
designing incorporates choice identified with the quality gauges to be utilized for shape or structure of
the product, pressing, and so forth so as to make the product alluring to the objective clients and
superior to the contenders' product.

4. Standardization and Grading

Institutionalization is a process of delivering merchandise of foreordained principles to accomplish the

consistency and consistency in products. This guarantees the purchasers of the quality, cost and
bundling of the product. Evaluating alludes to a process of characterizing products into various
gatherings based on their highlights like size, shape quality and so on. It is predominantly done in the
event of agricultural products.

5. Packaging and Labelling

Packaging means designing the bundle for the product while naming is worried about putting mark on
the bundle. Packaging and naming have been perceived as mainstays of marketing. They give
security to the product as well as go about as a promotional apparatus. At times, the clients survey
the nature of the product from its packaging. Packaging has assumed a significant job in the
achievement of numerous buyer brands like Colgate tooth glue, Taj Mahal tea.

6. Branding

Branding is a process of giving a brand name to a product to separate it from contender's products, in
structure clients' dependability and in advancing the product. The most significant choice under this
technique is whether to give a different brand name or same brand to all products of a business firm.

7. Customer Support Services

The way to marketing achievement is the fulfilment of the client. In this manner, a significant capacity
of marketing for example to give different client bolster administrations like after sales administration,
acquiring credit administrations, dealing with client objections, purchaser data and so on. These
administrations help in getting, keeping and developing the quantity of customers.

8. Pricing of Products

The measure of cash, which a client is required to pay for obtaining the product, is known as product
cost. Valuing greatly affects the interest for a product. A little variety in cost may expand the interest
for contender's product. Therefore, while deciding the cost for a product, different components like,
sorts of customers, their salary, association's goal, product request, and contenders' arrangement and
so forth ought to be considered.

9. Promotion

Promotion of product and administrations alludes to giving data to the customers about the company's
products, their highlights, utilizes, costs and so forth and inducing them to purchase these products.

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Publicizing, Personal selling. Exposure and Sales Promotion are the principle instruments of
promotion. A marketing professional has to decide about the promotion budget, promotion mix etc.

10. Physical Distribution

Another significant capacity to be performed by advertiser is the physical dissemination of products

and enterprises. The significant choice zones under this include choice of channel of distribution,
transportation, inventory levels, storage and warehousing.

11. Transportation

Transportation implies physical development of merchandise from the spot of production to the spot of
utilization. Not just the completed merchandise are to be moved yet additionally the crude material
should be shipped. A business firm examination its transportation needs based on components like
nature of the product, cost, area of the objective market and so forth and afterward take choices with
respect to method of transportation and other related perspectives.

12. Storage or Warehousing

There is a period hole among production and utilization of merchandise. In this manner it is a
significant capacity of marketing to accommodate appropriate storage of such merchandise until they
are requested. Besides, there is a requirement for storage of sufficient supply of merchandise to
satisfy the need in the event of possibilities and to stay away from superfluous postponements in
conveyance. Retailers, Wholesalers and Manufacturers play out the capacity of storage. Additionally,
Warehouse help in balancing out costs by checking changes. They additionally encourage ordinary
and even supply of products all through the nation and consistently.



Task 7: Identify and explain one marketing metrics and their usefulness in measuring key
marketing operations. Summarise relationship between marketing metrics and the need
for marketing directors, chief financial officers, chief executive officers and board
members to be able to monitor marketing performance. (5 Marks)

The Returning Visitor Metric tracks what happens when somebody comes back to your website on
numerous occasions. This metric enables advanced advertisers to perceive how viable they are at
structure and holding a crowd of people on the web. This is especially essential to show the
estimation of substance advertising efforts.

The metric arranges visits as indicated by the occasions a guest has come back to a website utilizing
the accompanying groupings: 2-3 visits, 4-9 visits, and more prominent than 10 visits. This metric
likewise gives data about normal peruse rate (pages per session) and normal time nearby for
returning visits.

The correlation time frames, meant constantly over month segments, enable advanced advertisers to
perceive how they are slanting over time. The returning guest metric can be utilized to figure out traffic
examples to perceive how substance promoting system impacts group of spectators conduct.

The issue with the returning guest metric is that if a consumer visits the website a subsequent time
and either their gadget doesn't acknowledge cookies, they have erased the cookies or they are
utilizing an alternate gadget or browser, they won't be distinguished as a returning guest.

The elusive advantages of showcasing – improving and upgrading brand mindfulness; teaching
clients and prospects about item advantages; and reinforcing partner connections – have estimating
its money related effect a puzzling and testing process. In a perfect world, advertising execution
estimation ought to be an intelligent expansion of the arranging and planning exercise that occurs
before an organization's financial year. The objectives that are set ought to be both quantifiable and

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material to each promoting job inside an association. Organizations utilize different procedures to
quantify advertising execution and guarantee they meet those exhibition objectives.

To guarantee important correlations among exercises, brands, markets, and timeframes, associations
may utilize a typical scale to investigate execution metrics. Utilizing various estimations to assess
various interchanges exercises, contenders, and markets does not permit direct correlation and
results in lost cooperative energies. Organizations utilizing formalized approach’s ceaselessly
accumulate and screen advertising information to comprehend where the promoting plan is solid and
where it needs improvement. Long haul perception additionally achieves genuine knowledge
unexpected changes and "warnings" in the information.

Task 8: Explain principles of marketing and strategic management. Discuss how statistical
data and data evaluation techniques to measure marketing performance (5 Marks)

Business marketing management depends on a lot of rules that incorporate errands from intending to
advertisement creation and long haul support. These standards fluctuate in points of interest and are
controlled by the business and target group of spectators you manage. While a decent arrangement
of independent company marketing the executives includes the making of enthusiasm with respect to
the consumer, it additionally includes advertisement creation and everyday activity of the marketing
technique.

It requires recognition with explicit objective fragments, what these consumers need and how to best
contact them. There must be a comprehension about what the message ought to be and why, and
what the short-and long haul objectives of promoting are for the organization. Statistical surveying,
contender examination and industry experience all feed into the advancement of market skill and all
are fundamental to the achievement of the marketing methodology and the organization all in all.

The development of marketing plans is a key piece of independent venture marketing management.
Plans must address the marketing wants of each marketing accomplice or of the organization itself
and depend intensely on association to deal with the procedure. Plans diagram the activities of each
proposed battle and express the expense to the client versus the anticipated rate of profitability.
Marketing plans are a key piece of setting the timetable, declaring the marketing objectives for the
year and creating associations with marketing accomplices that can prompt fractional or full
subsidizing of the ads made.

Since businesses commonly don't have the assets for the mass battles that enormous organizations
create, inventiveness in publicizing is a significant guideline. This is frequently the most fascinating
piece of the marketing management process, since advertisers will get the opportunity to see their
thoughts gradually come to fruition and structure substantial battles. The procedure regularly begins
with a couple of thoughts composed on paper, trailed by a gathering with visual specialists or outside
innovative organizations. From here a forward and backward of thoughts and evidences lead up to
the last outcome and circulation.

When finished, each crusade activity must be disseminated. Dissemination includes the position of
promotions in distributions, the conveyance of accounts to TV and radio stations, the employing of
work force to pass out pamphlets, the course of action of verifications for gleaming magazines, etc.
Independent company marketing circulation requires down to earth expertise and both money related
and strategic effectiveness. Connections must be manufactured and channels built up that give brisk
and simple access to your objective market sections just as short turnaround times when new battles
and advancements hit the market.

Marketing management does not end with the arrival of new battles. Constant oversight of the
advancement of each battle and modification is regularly required. For instance, on the off chance
that you see that your flier advancement activity is never again bringing the reaction that it used to,
further examination might be all together. When the purpose behind the decrease is resolved, the
advancement can be adjusted and redistributed to the consumer, after which a second round of
examination will uncover whether you are in good shape or not. Consistent upkeep and adjustment is

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a standard of marketing management important to the proceeded with accomplishment of any small
business.

When breaking down the consequences of marketing campaigns, statistical criticalness is a
probabilistic sign of whether the watched battle results would have likely happened even without the
crusade.

Expressed another way, statistical centrality in crusade investigation is the parameter which shows
whether the battle beneficiaries' conduct was the immediate consequence of a particular battle, or
whether comparable outcomes may have been watched even had the battle never been run.

A dependable positive inspire implies that the battle was compelling, effectively affecting clients
towards alluring practices. Likewise, a valid negative elevate implies that the battle was impeding,
driving clients into unfortunate practices. Normally, for lower-is-better kinds of metrics, (for example,
stir rate, crossing out rate and return rate), the contrary ends hold. Inspires that are not dependable –
regardless of whether positive or negative – just imply that there isn't sufficient proof to arrive at an
authoritative resolution in any case.

There are three central point that impact these probabilities:

A bigger number of clients prompts higher accuracy (lower change) in the appropriations of the
Response Rate and Average Value for each gathering. This, thus, pushes the likelihood that one
gathering beats the other away from half (equivalent odds of it is possible that one being superior to
the next), and towards the validity edges of 95% (test gathering is better) or 5% (control gathering is
better).

When esteems are spread out over enormous reaches, appropriate statistical surmising must take
into account more extensive interims of conceivable hidden methods, pushing the likelihood of one
gathering outflanking the other away from the tenable edge, and closer to the half midpoint.

With progressively sensational contrasts in execution between the test and control groups, the
probabilities get pushed towards the validity edges, enabling statistically tenable ends to be come to,
even with less information focuses and additionally higher fluctuations.

Task 9: Describe own/relevant industry product and service knowledge (you may choose
your workplace or Assessment 1 case). Discuss the importance of understanding
economic, social and industry trends and justify your answer with example. (5 Marks)

Open a new business in a new market, or creating a new product can be hard. When Starbucks
opened a new store in a new city or country, it was and is important to fully analyse the economic,
social and industrial aspects of the place. Without this analysis, it is impossible to know how to create
the right strategies to have profit and grow in the new market.

To successfully work a business and grow profits, it is imperative to have a careful understanding of
the economic opportunities and, similarly, threats. Market research provides decision makers with
strategic, excellent, target and comprehensive insights, ensuring long haul, sustainable growth for
business.

The economic landscape offers incredible money related opportunities, as remote investment fosters
local growth on one hand and labour costs, trade and interest rates and increase competitiveness on
the other.

A decent market analysis will have an economy outline, which is extremely useful in understanding
where the present market is and where it is going. The analysis should focuses on the last couple of
years trends, which can tell if a specific industry is growing or not. This can be significant in
recognizing industries in the business improvement that the company can gain by. It is also useful in
establishing parallels in which one industry may suffer yet, because of the paralleled verticals; it is
smarter to focus toward another path.

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Some of the biggest economic factors that influence marketing are request and supply. Frequently,
the objective of a marketing effort is to drive up interest. At the point when request is high, the cost of
an item can also be high, increasing profitability for a business. At the point when request is low, the
value lowers as well. At the point when there is a constrained supply of materials, either because of
assembling or environmental issues, the interest increases because of the accessibility.

Consider the latest innovation gadgets that are usually released in constrained quantities. The interest
is high because of comprehensive marketing campaigns that make it realized that solitary a
constrained amount of products will be accessible at the dispatch. This marketing strategy can also
be connected to small businesses. When releasing another item or service, consider marketing it as
"restricted accessibility" to drive up interest and cost.

At the point when individuals consider marketing a product to a specific statistic or "target market" you
are essentially addressing the attitudes that members of specific communities hold toward spending
cash on specific products. On the off chance that it sell top of the line furniture, it will be necessary to
understand the network's attitudes about spending huge sums of cash on home furnishings. By
narrowing down who inside the network has the means and desire to purchase the product or service,
a company is doing what marketers called "segmenting the market." Understanding purchasing
attitudes is significant in product improvement and advertising strategies.

Closely identified with purchasing attitudes are social standards. These are the values and norms
held by the network the company markets the product or services to. The organization can assume
that a potential customer is probably not going to purchase something it does not relate to or feel it
could get use out of. Social, religious, social and sexual orientation affected factors communicate
here, as social standards fluctuate by race, ethnicity and lifestyle. On the off chance that the company
is ready to examine these features of your potential customers, it'll be in a superior position to tailor
your marketing strategies.

Besides purchasing out of necessity, individuals regularly purchase products that serve as diversion
esteem, are interesting to their use of available time or are instrumental in hobbies. In the event that
the organization sell a product that can be considered all the more a "need" than a "need," it'll do well
to focus on this social factor. Give close consideration to trends in the marketplace. On the off chance
that it find that individuals in your locale are rushing toward purchasing top of the line electronics, it
may most likely exploit this craze. Fads, however, are commonly short-lived, and it'll require in excess
of an erratic purchase to keep your business above water.

Time and accessible resources are the last social factors influencing marketing and product
improvement. All individuals are restricted by time in various ways: by work, family, or social
commitments. Having less spare time ordinarily means having less time to shop for goods and
services. Time is an impalpable resource, however cash is substantial. The accessibility or absence
of cash affects whether customers purchase from the companies. The solution is to adjust time and
cash: Look for helpful ways for the potential customers to purchase from it while also keeping the
value points reasonable and appealing.

With regards to business, industry analysis involves such things as assessing the challenge in the
industry; the transaction of supply and request in the industry; how the industry holds facing different
industries that are rising and giving competitions; the feasible eventual fate of the industry, especially
in light of mechanical developments; how credit works in the industry; and the definite degree of the
effect that outer factors have on the industry.

The significance of industry analysis is complex. As a business attempting to discover the way in the
preferred industry, it can use industry analysis to understand what position is it, with respect to the
position that different players in the industry have. The organization can use industry analysis to
further its potential benefit to distinguish opportunities and threats inside your environment, as well as
to plan for the fate of the business, with regards to the eventual fate of the industry. The main way it
can survive in any aggressive industry is that it should understand how to measure facing the
competitors, and afterward use that data furthering its fullest potential benefit.

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As an example for all that can be seen in the first try of Starbucks to grown in the Australian market.
The company, at the time, did not understand how was the marketing. In economical aspects, the
Australians don’t have problem to spend money in what they believe and want, but economical crisis
are every, and if they have to choose between a very expensive and even a dollar less expensive
product, they would choose the second one. Also, the social aspects related to the market, also
affected the economics.

The coffee market in Australia is different from US. The coffee culture in the country involves a
passion by coffee, what resulted in many different coffee shops around the country. Each serves a
different brand of coffee, with different blends and flavours, with a way less expensive price than
Starbucks, and more options of beverages, food, most having a large variety of breakfast and lunch
options, sometimes even dinner, and finally a very dedicated and personal customer service.
Analysing the industry, economical and social factors in the coffee market of Australia was essential
for Starbucks to grow in the country. But the rush and the lack of research and analysis resulted in
many stores being close, and the company was forced to star over. Now, having a second change,
Starbucks it is starting to understand better the market, but still is not as big as it is in the US.

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SOURCES AND REFERENCES USED (1 Marks)

1. https://www.investopedia.com/terms/e/ecommerce.asp
2. https://www.fairwork.gov.au/how-we-will-help/templates-and-guides/fact-sheets/rights-and-
obligations
3. http://www.iaeme.com/MasterAdmin/uploadfolder/IJM_07_07_002/IJM_07_07_002.pdf
4. https://www.brighthubpm.com/monitoring-projects/113895-how-do-you-measure-your-project-
performance/
5. https://blog.hubspot.com/agency/marketing-metrics-tracking
6.

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