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MKTG6002 Marketing - Torrens University Australia

Assessment - Situation Analysis

Learning outcome 1: Critically evaluate underpinning marketing theories and principles and employ appropriate research process to collect, store and use of data to generate customer insights;

Learning outcome 2: Critically evaluate customer needs to create value for customers by deploying the resources of the organisation in best possible ways;

Objectives:

• To develop an understanding and appreciation about the influences of micro and macro environmental actors and forces that affect an organisation's ability to serve the needs of the
target market;

• To develop critical analytical ability to gather and analyse relevant data to facilitate decision making;

• To develop foresights to predict industry trend and tailor the organisation's practices to respond to the changing situation.

How the assessment fits into the subject/course:

Marketing in the 21st century has evolved profoundly which is a critical element of business administration. The design of marketing plans is integral to business organisation and the assessment of this subject aims to provide students with the opportunity to apply the knowledge to develop effective marketing strategies. This assessment requires the students to analyse overall situation of the business prior to developing a marketing plan. The students will then continue to work on the same organisation to develop a complete marketing plan in their next assessment. A short scenario is given below to help students address the tasks involved in the assessment 1.

Linkages between Assessments 1 and 2:

Assessment 1 requires students to undertake the SWOT/TOWS analysis of their chosen organisation from the list of organisations provided. Students are advised to consult the IBISWorld database through Torrens Library to do the preliminary research to gain a comprehensive knowledge about the industry in which their chosen organisation belongs to. The assessments 1 and 2 are interlinked where students need to summarise the situation analysis from their assignment 1 while discussing this section within the assessment 2, the marketing plan.

Instructions:
This assessment task requires you to develop a Marketing Environmental Analysis that comprises both the micro-environment and macro-environment. The micro-environment analysis involves a scrutiny of internal environment that facilitates specifying the strengths and weaknesses, while, the macro-environment analysis requires the scrutiny of demographic, economic, natural, political, technological and cultural (DENPTC) dimensions which will assist in specifying the opportunities and threats. Changes within the macro environmental forces are outside of an organisation's direct control requiring an organisation's marketing strategies to be adjusted to capture emerging opportunities and minimise any potential threats. Therefore, in this assessment task you will need to:

• Articulate your learning about marketing concepts and principles covered from Module 1 to 3.1 to demonstrate your level of understanding to evaluate the organisation's overall situation;
• Critically analyse the link between marketing theory and practice;
• Demonstrate research skills to reveal the insights;
• Apply appropriate business report writing skills;
• Discuss appropriate strategies with regards to your SWOT analysis.
• Use the appropriate APA style

Scenario: Choose an organisation from the list provided below that intends to expand its business either through a new product development or a new business/market development.

Tasks:

1. Discuss the value propositions, core brand values and buyer behaviour of your chosen organisation;

2. Analyse the micro-environment (the company, suppliers, intermediaries, relevant publics, customers and competitors);

3. Analyse the macro environment, that is, demographic, economic, natural, political, technological and cultural (DENPTC) forces to demonstrate their impacts on your chosen organisation's strategies/capabilities to serve the target market (s;

4. List the strengths, weaknesses, opportunities and threats (SWOT) as well as suggest appropriate strategies by incorporating the TOWS matrix to draw from strengths to capture opportunities, to overcome weaknesses and to defend from threats.

Note: Take time to gather relevant data about your chosen organisation as well as the broader external environment in which the organisation operates. Find good quality academic references from high quality marketing journals and text books to substantiate your arguments, suggestions and explanations. Use relevant headings/sub-headings to ensure a cohesiveness and logical flow of the report.