How ethical principles affect marketing operations

Assignment Help Management Theories

Reference no: EM131148502 , Length: word count:1700

Assessment Information-

This assessment tool is designed to gather evidence on your knowledge as well as abilities on identifying, evaluating and taking advantage of marketing opportunities by analyzing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations. Also, it collects evidence on key foundation skills outlined in unit of competency details. Your Trainer/Assessor will go through the unit of competency at the very beginning of this unit explaining each element, performance criteria, foundation skill, performance evidence, and knowledge evidence that you will be assessed on via this assessment tool. You can find more information at https://training.gov.au/Training/Details/BSBMKG501.

This assessment has three parts:

Assessment Activity 1 - Knowledge Questions: you will provide your responses to two written questions that assess their knowledge on relevant legislation, codes of practice, ethical principles, and national standards that affect marketing operations, as well as, statistical methods and techniques to evaluate marketing opportunities including forecasting techniques.
Assessment Activity 2 - Report: based on the FitLite Health Club business simulation, you will write a report on marketing opportunities based on the information provided in the Strategic Marketing Plan 2015-2020.
Assessment Activity 3 - Presentation: you will present your written report, gather feedback from key stakeholders and make refinements as suggested.

Your Trainer/Assessor will provide you the following document and discuss in detail prior undertaking this assessment:

FitLife Strategic Marketing Plan 2015-2020.

In order to be deemed competent in this unit you must obtain satisfactory outcome in each part of this assessment. You must collate the following documents and submit to your Trainer/Assessor:

knowledge question responses (Assessment Activity 1)
report written in a professional format (Assessment Activity 2)
slideshows used in your presentation (Assessment Activity 3)
final version of your written report (after the presentation and feedback session).

Assessment Activity 1- Knowledge Questions

Question 1: Write a report on how relevant legislation, codes of practice, ethical principles, and national standards affect marketing operations. You must include the following in your response:

codes of practice
confidentiality and privacy issues
ethical principles
legislation and regulations
social responsibility and cultural diversity
safety issues

You must ensure that all of the legal and ethical requirements listed above are currently active. You are to be deemed unsatisfactory for this task if you include outdated information such as a superseded legislation.

The word limit for your summary is maximum of 750 words. Make sure you insert citation for your research following the prescribed citation format.

Question 2: Briefly describe the following statistical methods and techniques to evaluate marketing opportunities, including forecasting techniques. For each item, you must provide a definition and how it can be used to evaluate marketing opportunities. Write in your own words. Maximum length of answer for each item is 50 words.

Bootstrapping
Brand-choice models
Experimental design technique
Central tendency
Conjoint analysis
Cross-tabulation
Perceptual maps
Intention survey
Data mining
Extrapolation
Game theory

Assessment Activity 2 - Report Writing

Business Simulation: FitLife Health Club

Read the FitLife Health Club Strategic Marketing Plan 2015-2020 and familiarise yourself with the company. It provides essential information on the company's current status, future strategic direction and background, including the following:

-Executive Summary

-Company Background

-Mission, Vision and Values

-Statement of Goals and Objectives

-Situation Analysis (including SWOT, BCG matrix, PEST/STEEP Analysis, and Market Trend Analysis)

-Statistical Analysis on Market Share, Competitors and 5 years Revenue Analysis

-Market Segmentation and the Marketing Mix

-Target Markets

-The Marketing Mix

-Financials.

You are encouraged to conduct external research from reputable and quality sources. Ensure you comply with the academic honesty standards outlined in Guide for Preparing and Submitting the Assessment section.

Your report will have two stages:

Stage 1: you are required to draft a report in which you need to identify and evaluate marketing opportunities to determine whether they can meet organisational objectives. It must also clearly document how current business operations need to be modified and what resources required to take advantage of newly identified and evaluated opportunities. This draft version will then be presented to the audience (Assessment Activity 3) to collect feedback, which you will then reflect the feedback on your final report.

Stage 2: you are required to finalise your report taking the feedback gathered during your presentation (Assessment Activity 3) into consideration. This will be the final version ready to be submitted to your Trainer/Assessor with your portfolio. Your Trainer/Assessor will lead the feedback process.

Assessment Activity 3 - Presentation

You are asked by the Fitlife Health Club management to present your ideas to your colleagues. The objective of your presentation must be to:

communicate with the audience clearly, understandably and creatively
present your ideas, findings and recommendations credibly to convince the audience and gain support and agreement
satisfactorily answer questions and objections
organise material in an effective and logical sequence and format for the presentation
develop a range of support materials that can be used to present a variety of ideas and concepts for your presentation
adapt to the cultural requirements of the stakeholders as they are from diverse backgrounds with diverse abilities
apply techniques to control the flow of information
get feedback on your ideas, which then will be reflected on your final report.

Conditions of Presentation-

You must make this presentation professional, delivering the materials with confidence and being knowledgeable and flexible in responding to queries and feedback (see criteria in the checklist provided in the following page). All resources must be provided to candidates in order to facilitate in delivering their presentation.

Your presentation must cover all aspects of your report in summarised form so that you can clearly communicate this material in a maximum time of twenty (15) minutes, including Question/Answer session.

This is a 1700 words DIPLOMA assessment, the Assessment contain 3 activity as:

Activity 1: will need to response and answer the questions as the instruction. 800 words

Activity 2: will be written report, please follow the instruction as well. 900 words

Activity 3: will need to have 12 slide of power point.

Reference no: EM131148502

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