Report on the success of marketing mix activities

Assignment Help Marketing Management

Reference no: EM133096153

BSBMKG542 Establish and monitor the marketing mix - Rhodes College

Assessment

You will be required to undertake ONE (1) assessment task in order to successfully complete this component. This Observation Assessment will require you to demonstrate evidence of your ability to:

• Report on the success of marketing mix activities developed, including coverage of any necessary adjustments made

Observation Instructions

Now that you have completed your initial report, you are ready to launch you product/service to your selected target market (s). In reality, you would be required to allow between 4 weeks and 3 months to be able to determine the success or otherwise of the marketing mix activities your team have developed and implemented.

So for the purposes of the next phase of this Assessment, you are now required to assume (refer to marketing assumptions below) that 3 months have passed since the initial launch and you are ready to report to Senior Management as to the success (or otherwise) of the marketing mix activities you have undertaken and any necessary adjustments you suggest need to be made based on at least ONE (1) of the marketing assumptions listed below:

Marketing Assumptions

The initial results reported after the launch have indicated a number of elements that will require further consideration for adjustments to the marketing mix
• Sales have been slower than initial forecast (assume approximately 10% lower)
• Customer feedback indicates pricing is approximately 5% higher than the equivalent competitor product/service
• Promotional Response rates are averaging 2% (for direct mail) and 20% open rate (for email)
• Some distributors (if applicable) have not been as engaged with the new product/service as was initially indicated

ASSESSMENT TASK 1: MARKETING MIX ADJUSTMENT RECOMMENDATIONS

You and your team are now ready to report back to Senior Management as to the success (or otherwise) of the marketing mix activities you have recommended and any necessary adjustments you suggest need to be made.

These marketing mix adjustment recommendations are to be in the form of a presentation using Microsoft PowerPoint or another suitable presentation-based computer software program.
The presentation should include the following content:

• A summary of the elements in your initial report which can be used to establish the context of your selected organisation and specific marketing mix elements including:
1. SWOT and PESTLE Analysis
2. Product, Price, Promotional and Distribution variations
3. Expected customer service levels based on changes to any of the marketing mix variables
4. Evaluation of these variables against the chosen organisations marketing objectives, target market characteristics and desired positioning
5. Outline the proposed methods to collect statistical data including actual statistical data on:
- Market and customer segmentation
- Customer targeting
- Positioning including:
- Geographic components
- Demographic components
- Behavioural components
- Psychographic components

• The marketing assumptions (at least ONE (1) that you have used to base your marketing mix adjustments on)

• Recommendations for the proposed adjustments made to any (or all) of the marketing mix activities developed and based on the assumptions made

Attachment:- Establish and monitor the marketing mix.rar

Reference no: EM133096153

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