Reference no: EM133680973

Establish and monitor the marketing mix

Assessment 1-Short Questions

Question 1
Bounce Fitness is a premier fitness centre popular across Australia. Bounce Fitness currently has four centres across Australia, with plans of opening a new centre in Perth. Access the website below to learn more about Bounce Fitness:
Complete the table below by outlining both policies and their corresponding procedures.

Policy Outline of Policy Outline of Procedures
a. Marketing Accuracy Policy
b. Ethical Marketing Policy

Question 2
Access Bounce Fitness' list of products and services in the link attached:
Bounce Fitness Products and Services
Identify two products and two services offered by Bounce Fitness.

Question 3
In your own words, explain the following principles of marketing.

a. Branding

b. Consumer behaviour

c. Buyer behaviour

Question 4
Identify and describe the five concepts of marketing.

Question 5
Identify and describe the five elements of the marketing mix

Element of the Marketing Mix Description

Question 6

Answer the following questions about methods to gather and analyse marketing information.

a. Identify at least three methods used to gather marketing information.
Marketing information refers to information that provides additional details to the parts of a marketing mix.
b. Identify at least three methods to analyse variance of marketing revenue and costs.

c. Complete the table below:
i. Identify at least three types of revenue variance
Revenue variance refers to the difference between actual sales and estimated sales
ii. Define each type of revenue variance identified

Assessment 2- Simulated Environment

Thisassessmenthas a set of tasks that must be completed in a SimulationEnvironment-Bounce Fitness.To be assessed for this unit of competency, you must demonstrate your skills and knowledge to identify and establish an effective marketing mix for your business. It includes preparing, implementing, and monitoring the market mix.The simulation Bounce Fitness environment will provide you access to all the resources required to complete this assessment. Please see Resources Required for Assessment and access to Bounce fitness simulated environment.

Project Overview

This Simulation environment project assessment requires you to establish and monitor the marketing mix in your Simulation environment on at least one occasion.

This assessment is divided into four tasks:
• Task 1: Prepare Marketing Task Report
• Task 2: Prepare Marketing Mix Analysis Report
• Task 3: Marketing Mix Implementation Plan
• Task 4: Marketing Monitoring Report

This project requires you to complete the assessment tasks in a simulated environment Bounce Fitness where the conditions are typical of those in a working environment in this industry.
Each task comes with a set of instructions. You are to follow and perform these instructions while being observed by the assessor and/or submit any required documentation as evidence of task completion.
Before starting this assessment, your assessor will discuss with you these tasks, including instructions, resources, and guidance for satisfactorily completing them.
You are required to:
• Complete the tasks within the time allowed, as scheduled in-class roll.
• Identify initial marketing mix based on task requirements.
• Conduct tests to determine the most suitable marketing mix.
• Develop communication, team building, and monitoring strategies to implement marketing mix.
• Monitor and report progress of implementation of marketing mix to achieve task objectives.

Task 1: Prepare Marketing Task Report

Assessment Instructions
This task will require you to identify at least one marketing task and the initial marketing mix for your Simulation environment/organisation and prepare a Marketing Task Report.
The Marketing Task Report will be used to complete the remaining tasks in this project.
Use the Marketing Task Report template provided at the Bounce Fitness site.
To complete this task, you must:
• Identify at least one marketing task
Marketing task can be internal (within the organisation) or external (for a client). You will complete this task for the whole assessment.
• Gather information about the marketing task to identify its requirements, specifically:
o At least two task objectives
o Customer base for the task
o Timelines for completion
o Resources required
o Budget
o Acceptable variance from the budget
o Monitoring and reporting schedule
• Access and review the following documents about marketing:
o Organisational strategic and marketing plans for the previous three years
o Legislation
o Regulations
Legislation and regulations accessed must include information such as guidelines on establishing marketing mix.
Legislation can include:
• Competition and Consumer Act 2010
• Privacy Act 1988
• Spam Act 2003
Regulations accessed may be those contained in the Australian Competition and Consumer Commission (ACCC) regulations
o Codes of Practice
Codes of Practice may be organisational and industry codes of practice related to marketing.
o Existing marketing information on past marketing activities. This must include:
• Marketing outcomes
• Pricing policy
• Channels of distribution
• Promotional methods
• Analyse the effects of identified pricing policy, promotional methods and channels of distribution on the identified marketing outcomes.
• Analyse the marketing-related information you reviewed and identify the following:
o Initial marketing mix
o At least two key pressure points
These are areas that affect the sales of products and services and business operations.
• Prepare a Marketing Task Reportincluding all items listed above.
ReviewSimulation environment Project Task 1 - Assessor's Checklist before starting this task. This form outlines the following:
• Resources you are required to access to complete the task.
• All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Review the template you will use to complete this task. Use the Marketing Task Reporttemplate provided at the Bounce Fitness site.
Submit the completed marketing test report to your assessor. Include the supplementary documents/sources accessed and used to create the Marketing Task Report, such as:
• Documents/sources accessed to gather information about task requirements.
• Organisational documents such as:
o Organisational strategic and marketing plans.
o Existing marketing information on past marketing activities that include:
• Marketing outcomes
• Pricing policy
• Channels of distribution
• Promotional methods
• Printed or online sources relevant to the marketing mix or task requirements, including government websites.
• Budget for the marketing task identified.

Task 2: Prepare Marketing Mix Analysis Report

Assessment Instructions
This task will require you to test and select a suitable marketing mix for the marketing task identified in Simulation environment Project Task 1 and prepare a Marketing Mix Analysis Report.
Use the Marketing Mix Analysis Report template provided at the Bounce Fitness site.
To complete this task, you must:
• Review the Marketing Task Report from Simulation environment Project Task 1.
• Identify at least one method for the following:
o Gathering data on the marketing mix from Simulation environment Project Task 1.
o Analyse the gathered data to determine the effect of the marketing mix components on each other.
• Identify the expected outcomes from the test results
• Implement the identified data gathering method and analysis method.
• Record actual outcomes from analysis conducted.
• Use your test results to select a suitable marketing mix for the marketing task identified in Simulation environment Project Task 1.
• Prepare a Marketing Mix Analysis Report including all items listed above.
ReviewSimulation environment Project Task 2 - Assessor's Checklist before starting this task. This form outlines the following:
• Resources you are required to access to complete the task.
• All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Review the template you will use to complete this task. Use the Marketing Mix Analysis Report template provided at the Bounce Fitness site.
Submit the completed Marketing Mix Analysis Report to your assessor.

Task 3: Marketing Mix Implementation Plan
Assessment Instructions
This task will require you to establish strategies for implementing the marketing mix selected in Simulation environment Project Task 2.
Use the Marketing Mix Implementation Plan template provided at the Bounce Fitness site.
To complete this task, you must:
• Develop at least one key performance indicator (KPI) for the implementation of each area of the marketing mix identified in Simulation environment Project Task 2.
These must be based on task objectives from Simulation environment Project Task 1.
• Identify the role of each relevant stakeholder in implementing marketing mix.
Roles refer to the general set of obligations that each stakeholder must undertake as part of the marketing activities. This also defines the general scope of their work, such as people to report to, specific functions to manage, or activities that they must monitor.
• Establish the following for implementation of the marketing mix based on developed KPIs:
o Communication plan for relevant stakeholders
Stakeholders are individuals or groups affected by the implementation of the marketing mix.
o Team-building plan for personnel to improve customer service levels.
o Plan for monitoring each area of the marketing mix.
Each plan developed must, at a minimum, include each of the following:
o Personnel responsible for implementing each action item.
o Resource required to implement each action item.
• Prepare a Marketing Mix Implementation Plan including all items listed above.
• After completing your plans, brief relevant stakeholders on the implementation of the marketing mix, which must include the following:
o Discussion of activities conducted in Simulation environment Project Task 2 to determine marketing mix to be implemented.
o Discussion of each of the following plans
• Roles and responsibilities of each relevant stakeholder in implementing marketing mix.
ReviewSimulation environment Project Task 3 - Assessor's Checklist before starting this task. This form outlines the following:
• Resources you are required to access to complete the task.
• All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Review the template you will use to complete this task. Use the Marketing Mix Implementation Plan template provided at the Bounce Fitness site.
Submit the completed marketing mix implementation plan to your assessor.
You must also submit the evidence of briefing stakeholders on their roles and responsibilities in implementing the marketing mix.
Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video recording of the meeting conducted with the stakeholders.
When using this as evidence, ensure to inform the stakeholders of the purpose of the recording before doing so.

Task 4: Marketing Monitoring Report
Assessment Instructions
This task will require you to implement and monitor the marketing strategies developed in Simulation environment Project Task 3.
You will then report current progress of marketing activities in achieving organisational goals with relevant stakeholders.
Relevant stakeholders refer to individuals or groups who will be involved in implementation of the marketing mix.
Use the Marketing Monitoring Report template provided at the Bounce Fitness site.
To complete this task, you must:
• Implement the marketing mix plans selected in Simulation environment Project Task 3.
• Monitor the implementation of the marketing mix on at least two occasions, based on monitoring strategies outlined in Simulation environment Project Task 3.
• After each scheduled monitoring conducted, prepare a Marketing Monitoring Report, which must include the following information:
o Identify the actual marketing performance against each KPI set in Simulation environment Project Task 3
o Compare and record the variances in:
• The actual marketing revenue against the task budget identified in Simulation environment Project Task 1.
• The actual marketing costs against the task budget identified in Simulation environment Project Task 1.
o After each monitoring occasion, present the Marketing Monitoring Report to at least two relevant stakeholders, indicating the progress made towards achieving marketing objectives.
ReviewSimulation environment Project Task 4 - Assessor's Checklist before starting this task. This form outlines the following:
• Resources you are required to access to complete the task.
• All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Review the template you will use to complete this task. Use the Marketing Monitoring Report template provided at the Bounce Fitness site.
Submit at least two completed marketing monitoring reports to your assessor. Include the supplementary document used to create the marketing monitoring report, such as:
• Generated marketing data and information relating to progress towards achieving organisational goals such as website traffic from monitoring tools, customer feedback from feedback tools, etc.
• Relevant variance analysis date and information such as, sales data, profit and loss statements, cash flow statements, etc.
You must also submit evidence of presenting the Marketing Monitoring Reports to at least two stakeholders after each monitoring occasion, indicating the progress made towards achieving each KPI developed in Simulation environment Project Task 3.
Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video recording of the meeting conducted with the stakeholders
When using this as evidence, ensure to inform the stakeholders of the purpose of the recording before doing so.