Reference no: EM131248164

Assessment Event 1- Short Answer Questions

There are three questions that will provide us with evidence on your general knowledge of principles and concepts of marketing, elements of marketing mix and statistical techniques used in market intelligence.

This assessment is completed in your own time and by a submission date provided by your assessor. You may use support material in the development of your answers, but you must indicate the source. In addition, you must not cut and paste answers from your source, rather, use your own words, unless it is a direct quote.

Assessment Event 2 - Simulation: MyRTO

You will complete a number of tasks in evaluating, developing, monitoring and adjusting a marketing mix for a Registered Training Organisation (RTO), MyRTO. These tasks will be based on your role as a Marketing Officer in a simulation for MyRTO, an Australian RTO that provides a blend of accredited and non-accredited training.

To complete the simulation, you will need to refer to the following resources:

Strategic Marketing Plan This document provides detailed information on MyRTO's strategic initiatives. It includes critical information about the current marketing mix, desired positioning, external landscape, budget, etc. You will use this document throughout the simulation to analyse the current market environment and determine the most suitable marketing mix to ensure MyRTO's organisational goals are achieved.

Budget Template This document is a template provided in the format of an Excel spreadsheet. You will use this spreadsheet template in Tasks 2 and 3 to calculate the budget required to successfully execute the marketing mix.

Market Response Data This data provides insight about the success of the marketing mix. You will use this data in Task 3 when evaluating the components of the marketing mix in relation to market factors and consumer response.

Marketing Policy and Procedures Policies and procedures to ensure marketing practices are conducted ethically and lawfully. You will need to refer this when establishing the marketing mix.

Note that to be deemed competent for this unit, you must achieve a satisfactory outcome for all of the assessment questions and tasks. This includes meeting the following conditions:

- you must complete all of the tasks outlined in this Student Assessment Guide document to the standard indicated in the Performance Requirements; these are listed under each of the tasks
- you will then submit your completed workbook to your assessor electronically (note, your assessor may allow you to submit Assessment Event 1 and receive feedback before starting Assessment Event 2)
- you must perform the above two points within the given timeframes by your Assessor
- you must complete both assessment events and submit by the deadline specified by your Assessor
- your work must be your own work and in your own words
- where you use to an external source, you must provide citation.Assessment Event 1 Short Answer Questions

The information contained in this assessment event lists the questions that you will need to develop a written response. These questions are theoretical and provide evidence of your understanding of principles and concepts of marketing, elements of marketing mix and statistical techniques used in market intelligence.

Question 1

Describe each of the five principles of consumer behaviour, and for each one, provide an example of how it influences buying behaviour.
Write your response into the table:

Question 2

Describe the four principles of the marketing mix and apply them to an industry context.

Question 3

Outline five statistical techniques used to gather and analyse marketing information, and then explain how each can be used in market intelligence.

Assessment Event 2 - MyRTO Simulation

In this assessment, you will undertake a number of tasks associated with developing and adjusting the marketing mix for a Registered Training Organisation (RTO), MyRTO. The focus is on determining the marketing mix for a non-accredited training program and adjusting it to meet organisational marketing objectives. To achieve this, you will perform the following actions:
- review and evaluate the current marketing mix from the Strategic Marketing Plan
- develop the marketing mix for the non-accredited training program
- monitor the marketing mix against market response finalise the marketing mix for the non-accredited training program.

Task 1: Evaluate Each Component of Marketing Mix

In Task 1, you will evaluate MyRTO's strategic initiatives and establish a groundwork to determine the marketing mix that best satisfies the marketing initiatives.

To achieve this, you will need to refer to the Strategic Marketing Plan provided to you as a separate attachment.

1.1 Identify key characteristics of the Change Management training program

- identify five key characteristics of the training program
- explain the significance of these five key characteristics to the market

1.2 Review pricing policy and analyse pricing variables to determine their effect on demand

Note that before undertaking this subtask, you will need to review the pricing policy in the Strategic Marketing Plan.

- identify the pricing policies and the pricing variables
- explain their effect on demand

1.3 Analyse promotional methods to determine their importance to marketing outcomes

Note that before undertaking this subtask, you will need to review the promotional methods in the Strategic Marketing Plan.
- identify the two promotional methods
- write a summary explaining the importance of these promotional methods to marketing outcomes

1.4 Review channels of distribution and estimate their significance to marketing outcomes

Note that before undertaking this subtask, you will need to review the channels of distribution in the Strategic Marketing Plan.
- identify the two channels of distribution
- write a summary on the significance of these channels of distribution to marketing outcomes

1.5 Identify and analyse level of customer service provision to determine its significance to marketing outcomes
Note that before undertaking this subtask, you will need to review the customer service provisions in the Strategic Marketing Plan.
- identify the three levels of customer service provision
- identify the three levels of customer service provision

L6 Identify potential customer base and key pressure points
Prior to undertaking this task, you will need to review the target market profile in the Strategic Marketing Plan.
- identify the customer base
- profile each customer base
- identify the key pressure points to be successful in each customer base

1.7 Analyse and test the effect of the components of marketing mix

In this task, you are required to examine the dynamics of the four components of a marketing mix and their impact on each other.
- write a summary on how MyRTO's components of marketing mix could influence each other
- identify the importance of each component of marketing mix on MyRTO's customer base and provide rationale

Task 2: Determine Marketing Mix for Specific Markets

This task builds on Task 1 where you established the groundwork to determine the most appropriate marketing mix to achieve market outcomes.

In Task 2, you will determine the marketing mix that best satisfies MyRTO's marketing initiatives.
To achieve this, you will need to refer to the Strategic Marketing Plan provided to you as a separate attachment.
2.1 Identify and assess environmental factors, and their impact on marketing mix
- identify environmental factors that have an impact on the marketing mix
- identify which component of the marketing mix is affected by the environmental factor
- explain their impact on the marketing mix

2.2 Identify consumer priorities, needs and preferences affecting marketing mix
- identify consumer priorities, needs and preferences that have an impact on the marketing mix
- do this for each of the three customer base

2.3 Evaluate marketing mix variables against objectives, target market and positioning
This subtask requires you to evaluate the marketing mix variables against marketing objectives, target market characteristics and desired positioning. In this subtask, we refer product, pricing, promotional, distribution and service variations as the 'marketing mix variables'.
- evaluate how each of the marketing mix variable is aligned to the:
- marketing objectives
- target market characteristics
- desired positioning of the product

2.4 Select marketing mix that best satisfies target market and meets marketing objectives
This subtask requires you to reflect your findings from all of the subtasks you have undertaken earlier. You will determine the marketing mix for the Change Management Program that is most profitable to MyRTO's marketing objectives.
- select marketing mix variables

2.5 Seek approval to the marketing mix decision
This subtask requires you to send an email to the Marketing Manager (your Assessor) to seek approval for your marketing mix decision, which was based on the earlier subtasks.
Note that to perform this task, you need to review the budget information provided in the Strategic Marketing Plan and use the Budget Template (see worksheet Task 2.5) provided to you as a separate attachment.
- complete the Budget Template (Task 2.5) to table an estimated budget for your marketing mix
- upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments
- attach the email exchange with this stakeholder
- see your Student Assessment Guide for detailed instructions.

Task 3: Monitor and Adjust the Marketing Mix

In this task, you will review the outcomes of the marketing mix and make the necessary adjustments to ensure that the marketing mix meets organisational marketing objectives and desired positioning.
By the end of Task 3, you will determine the marketing mix that best satisfies MyRTO's marketing initiatives based on the market response data.

3.1. Monitor marketing mix against marketing performance and isolate components for testing
In this task, you will review the marketing performance data and then isolate the marketing mix components for testing.
To achieve this, you will need to refer to the Marketing Mix Outcomes spreadsheet provided to you as a separate attachment.
- calculate the variance between planned and actual results Insert your responses into Excel spreadsheet sent to you by your Assessor
- investigate causes of variance
Insert your responses here:
- isolate components for testing

3.2 Evaluate implications of altering components of marketing mix
In this subtask, you will review the market factors and then evaluate the possible implications of altering the components of the marketing mix on consumer response. To achieve this, you need to refer to the 'External Landscape' section in the Strategic Marketing Plan and your findings in Task 3.1.
- based on the given market factors, alter the components of the marketing mix
- based on the given market factors, alter the components of the marketing mix

3.3 Adjust components of marketing mix in response to test results and market-response evaluation
In this task, you will adjust the components of the marketing mix in response these test results and market-response evaluation you have undertaken in Tasks 3.1 and 3.2.
- adjust your marketing mix variables

3.4 Ensure adjusted marketing mix meets budgetary requirements
Note that to perform this task, you need to review the budget information provided in the Strategic Marketing Plan and use the Budget Template provided to you as a separate attachment.
- complete the Budget Template (Task 3.4) to table an estimated budget for your adjusted marketing mix
- upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments
- send the modified versions to your Marketing Manager
- attach the email exchange with this stakeholder
- see your Student Assessment Guide for detailed instructions.
3.5 Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning

In this task, you will re-adjust the components of the adjusted marketing mix in response to the outcomes achieved after your initial adjustment in Tasks 3.1. - 3.4.

You will be provided these result data by your Marketing Manager (your Assessor) prior undertaking this subtask.

Background to the situation is given below:

It has been three months since the initial adjustment of the marketing mix and the Marketing Manager has undertaken another evaluation as an organisational procedure.

The results have shown that further adjustment is necessary to remain competitive in the market for the remaining quarters: Quarter 3 and 4. There have been changes in some market factors which have had an impact on desired positioning. These results will be made available to you shortly.

You are required to re-adjust your marketing mix to ensure profitability in accordance to the organisational, strategic and operational marketing objectives, and desired positioning.

- complete the Budget Template (Task 3.5) to table an estimated budget for your re-adjusted marketing mix
- re-adjust your marketing mix in accordance to the results received
- upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments
- send the modified versions to your Marketing Manager
- attach the email exchange with this stakeholder
- see your Student Assessment Guide for detailed instructions.

Attachment:- Budget template.rar