Reference no: EM132718442

BSBMKG608 Develop organisational marketing objectives

• develop marketing objectives for an organisation including:
• undertaking strategic analysis reviewing current marketing performance
• formulating short and long-term marketing objectives
• develop a marketing risk management strategy.

1. Written Questions
For this assessment, you are to read the questions and respond in writing with the most suitable answer. There are five questions, all of which must be completed. Most questions require short answers although some questions require a more detailed response.
You may use various sources of information including workbooks, internet and other documents, but must list and reference their sources. Your assessor will advise you when this is due.
2. Project
In this Assessment Task, you are required to review the marketing activities of an organisation, complete a range of analyses to review the progress of the strategic marketing plan, and develop long-term strategic objectives. It is based on a simulated business scenario.
The project is in three stages. Outcomes are to be presented in the form of reports.
Stage One: - You are to analyse the information about a simulated business provided and review the strategic marketing objectives. You then need to meet with the business CEO to confirm your understanding of the objectives (your trainer will perform the role of CEO for the company,) and complete a range of analyses to confirm and evaluate the organisation's marketing activities, including progress of the organisation against established strategic objectives.
Stage Two: - In this stage you are required to complete a viability report comparing several business opportunities available to the business. As part of this review, you must consider both internal and external factors and costs, benefits and likely fit of the opportunity.
Stage Three: - In this stage you are to develop short-term and long-term marketing objectives for the business that reflect the strategic directions of the business, and for each, define how they will be measured, and how they are aligned with organisational strategic directions.
From the list of short-term and long-term marketing objectives, you are to consult with the CEO (your trainer will perform this role) who will assist in identifying key long-term strategic objectives for the organisation. Following the consultation, for each key long-term strategic objective, you are to develop a brief written report that describes the key performance indicators (KPIs), apportioned to the product and market sector, and a risk management strategy.

ASSESSMENT 1: WRITTEN QUESTIONS
Read the questions below and respond in writing with the most suitable answer. There are five questions. You must complete them all. Most questions require short answers.
You may use various sources of information including your workbook, internet and other documents. Your assessor will advise when this is due. You must reference your sources of information and include a bibliography (list) of all sources used.
Question 1.
(a) What are financial management techniques?
(b) Write a brief summary of each of the following financial management techniques:
• Accounting
• budgeting
• control
• reporting
Question 2.
identify and provide an overview of key provisions of three (3) relevant pieces of legislation, codes of practice and national standards affecting marketing operations. (approximately 15 words each)

Question 3.
Discuss each of the following principles and concepts of marketing:
• Product
• Price
• Place
• Promotion
(50 - 100 words each)

Question 4.
When reviewing marketing performance of an organisation, what evaluation methodologies can you use? List and briefly describe three (3).
Question 5.
Compare and contrast strategic, operational and tactical analysis techniques. (30 - 50 words)

ASSESSMENT 2: PROJECT
Overview
This assessment requires you to conduct a strategic analysis to develop marketing objectives for an organisation. This involves reviewing the organisation's internal and external environments, evaluating past and current marketing performance, and exploring and evaluating new marketing opportunities.
You are to demonstrate that you have the skills and knowledge to:
• identify the strategic direction
• review marketing performance
• scope marketing opportunities
• formulate marketing objectives
This assessment is based on a simulated business scenario.
This is a major project in three stages. You must complete them all. You will have time in class to complete this work but will also need to do some work in your own time. Your assessor will advise you when each part is due.
Read the following scenario and complete the tasks that follow.

Scenario
You are the Marketing Manager for ‘The Chocolate Bean', a chain of 15 gourmet dark chocolate stores in Melbourne, specialising in creating handmade dark chocolate products. The organisation is close to reaching its set goals and looking to activate the next phase in its development. The CEO has asked you to undertake an organisational review. To help you get started, the CEO has provided you with:
? the Chocolate Bean marketing plan (December 2017)
? an excerpt of the annual report by the Chair (December 2017)
? a subsequent interview
? the latest IBIS report for the industry.
You review the annual report and note the following statement by the Chair of the Board.
Within the next 5 years, The Chocolate Bean will become a national retail brand that satisfies our customers with a range of unique, high quality dark chocolate, as well as providing exceptional customer service from our highly skilled and dedicated staff.
At the time of the annual report, the Chair of the Board was interviewed by a reporter who made the recording available on their website. You watch and listen to the interview and hear the following statements by the Chair of the Board.
The Chocolate Bean has always been daring and unconventional. Creativity and innovation have always been our strength and the cornerstone of our success. For our stakeholders, we have always been about stewardship and adhering to professional and moral standards of conduct in all that we do. For employees, we are committed to encouraging self-directed teams; we cultivate leadership and maintain high levels of safety. Externally, we are committed to sustainable environmental practices and offering meaningful value to our customers.
By 2022, I see The Chocolate Bean as being a significant retail presence in every Australian capital city, starting with 22 stores in the greater Melbourne area and growing to 100 stores Australia wide.
Our market strength is our ability to source the finest cocoa beans at prices that customers believe represent value for them but also provide the organisation with the required margins and financial returns.
During your interview with the CEO, you ask about the changes taking place in legislation that could impact on The Chocolate Bean's operation. The CEO explains:
There is a big push by governments on the issue of sustainability. This focuses mostly on the environmental issues of waste management and energy conservation. In the past, The Chocolate Bean stores have been deliberately designed to be bright and comfortable places to shop. This meant a significant cost in electricity usage to run the lights and air-conditioners. With the new laws, we are going to have to find ways to provide customers with what they want, without the high electricity usage.
Another issue that the government is looking at is having the country of manufacture clearly stated on imported products, although at present the government is allowing the industry to self-regulate rather than pass laws. The Chocolate Bean has always practised this activity and is proud to be Australian made. We see this as an opportunity to increase our market- share, as some of our competitors are selling chocolate products that are imported from countries with a poor reputation for quality and employment ethics.
You then ask about the new phase in the strategic plan, which the CEO describes as a big step:
We now need to change our focus from local suppliers of services to national ones, and to think about opportunities to save money by gaining a wider geographic benefit and choosing media with a national reach.
When asked about the current marketing plan against actual results for the year, the CEO reports:
We achieved our store growth and sales growth but our gross profit margins are currently sitting on 46%. I think we are still below the threshold for gourmet chocolate and hot drinks, which we predict should be at an average gross profit of 63%. Expansion in sales and cost effectiveness are key issues here. We have spent $60,000 on radio advertising and $280,000 overall, including PR, magazines and direct marketing. While this radio advertising expenditure achieved sales results, it was at a significant cost that was not initially planned for. PR has been particularly useful, resulting in many write-ups on our unique offer.
The customer loyalty lists had achieved a total of 34,500 and a survey indicates that 58% of people in the target market recognise The Chocolate Bean brand and what it represents.
Overall, our SWOT analysis in 2017 is still valid for today. Not much has changed in that regard.
Studying the latest IBIS report for the industry, you note the following differences between The Chocolate Bean' marketing plan from 2017 and their current situation.
? Interest rates are in fact rising.
? Unemployment has also risen to 5.8%.
? The social trend towards people eating chocolate is growing stronger than anticipated.
? Broadband rollout has been delayed, putting on hold some of the organisation's internet marketing plans.

Stage One: Reviewing strategic direction and marketing performance
For this stage you will need to review the strategic marketing objectives for the company, meet with the CEO to confirm your understanding of the objectives (your trainer will perform the role of CEO) and complete a range of analyses to confirm and evaluate the organisation's marketing activities, including progress of the organisation against established strategic objectives.
Tasks
You have been asked to clarify the current status and strategic directions of the company, and then evaluate their previous marketing activities. Based on the business scenario provided above:
1. Develop a written statement that:
(a) Describes the mission, purpose, vision and values of the organisation
(b) Identifies strategic directions and targets for the organisation.
2. Now you need to meet with the CEO (your trainer) and confirm that you have correctly described the strategic directions for the organisation.
Your trainer will advise you when you are to meet. The meeting will take approximately 5 minutes.
(a) Clearly outline the directions and ask for feedback.
(b) Write up a brief written summary of the outcomes of the meeting with your CEO (your trainer)
3. After receiving confirmation, you need to complete an organisational review, with a maximum word length of 2,500 words. The review needs to include each of the components in the following tasks.
4. Complete a Situational Analysis including a PEST (political, economic, social and technologic) analysis) of the organisation.
5. Identify the legal and ethical requirements for the organisation in order to address the issues and objectives they have identified.
6. Describe the impact of the organisational strategic direction on current marketing activities.
7. Analyse the current key products and major markets for strengths, weaknesses, opportunities and threats (SWOT analysis).
8. Evaluate the effectiveness of previous marketing undertakings, including:
(a) Performance against established objectives (including profitability)
(b) Critical success factors
(c) Areas for improvement and lessons learned.
Write up your organisational analysis in the form of a report with headings to reflect each of the tasks above. (approximately 2000 - 2500 words)

Stage Two: Analysing marketing opportunities
In this stage you will need to develop a report analysing several business opportunities for the company.
You will need to examine the information in the scenario below and complete a report comparing several business opportunities available to the organisation. As part of this review, you will need to consider both internal and external factors and costs, benefits and likely fit of the opportunity.
Scenario
The Chair of the Board outlined the organisation's vision in the following statement:
‘By 2022 I see The Chocolate Bean with a significant retail presence in every Australian capital city, starting with 22 stores in the greater Melbourne area and growing to 100 stores Australia wide'
To achieve this vision, the Board has been exploring various options, including:
? fund and run the expansion program as a wholly-owned operation
? to franchise
? to take up the option of a joint venture.
The CEO has approached you to examine the two options of either franchising or joint venture partner, and provide a report on each. The CEO has provided you with a consultant's report on the franchising option, and a proposal from Haven's Chocolates on the joint venture option.
You have been asked to prepare a PEST analysis on the operating environment for both proposals, and then examine issues of costs and benefits, risk, fit and potential impact of each of the proposals.
Using the IBIS industry analysis, you identify the following aspects of the operating environment.
According to the IBIS report, interest rates are rising in the short-term but expected to level out at sustainable levels for the coming three years. Disposable income has reduced due to rising interest rates, however, this shortfall is expected to be recovered in the long-term, with wage increases expected to outstrip inflation rates by 2%. Unemployment levels are also increasing and expected to climb steadily to 6% in the coming years.
The Government is currently passing legislation that requires businesses to monitor and reduce their waste and energy use. Significant penalties are planned for businesses that don't comply with the new directive.
Technological developments with the broadband rollout across Australia have been delayed, although the rollout is continuing and will be completed in the next three years. Internet retailing options are expanding, and most ‘bricks and mortar' retailers are taking advantage of this new technology.
The Chocolate Bean will try to capitalise on the social trend of consumers being more health conscious, by promoting the health benefits of dark chocolates and offer the largest range of dark chocolate varieties and products.
You review the consultant's report on the franchising option with the CEO and note the following:
? The franchising concept will result in fast growth and could achieve the 100 store target within three years. Franchisees bring their own capital and they provide a ready solution to the store manager shortage.
? Introduction of greater legal issues, with each store operating on a separate legal agreement.
? Current store managers are encouraged to run the store ‘as if it were their own business' but the lack of an equivalent financial reward does not inspire many managers to put in the hours required. Franchising continues this theme but achieves greater results due to the increased rewards for hard-working store managers.
? Potentially greater conflict between local-minded business owners and the interests of a national brand.
? Proven Melbourne stores provide easy marketing and acceptance of franchise sales.
? Significant government laws protect franchisees, increasing the need for strict compliance by the organisation.
? Expansion would start in Sydney and move to a new city once profitability is reached in Sydney.
You also review the proposal by Haven's Chocolates with the CEO and note the following:
? Haven's Chocolates overview: Mid-sized operations of only a few stores per city. Haven's sell chocolates at mid-ranged prices. No imported goods. Extensive advertising. Medium to high quality product. Currently has stores in Melbourne, Sydney and Adelaide.
? View themselves as operating in different market segments within the same industry.
? Haven's already understands the markets in the three established capital cities, and are looking to open a few stores soon in Brisbane. They have the necessary contacts for essential services, council compliance and state government compliance issues.
? There may be a conflict of interest between what is good for Haven's and what is good for The Chocolate Bean.
? The rollout to 100 stores is expected to take 5-7 years.
? Advertising would be cheaper, given that they already access media via extensive advertising for Haven's Chocolates.
? Joint brand advertising could be conducted because the market segments are complementary rather than competitive.
? Customers could enjoy greater access to all of the product groups, including the cheaper range of chocolate.
? Association with a mass-produced product and brand could impact negatively on The The Chocolate Bean' premier reputation for quality chocolate.
? Haven's Chocolates will help establish The Chocolate Bean' brand awareness with access to low-cost combined media buys in other capital cities.
? Haven's Chocolates will share advertising space on billboard, advertising and PR articles.
? Concerns over Haven's Chocolate's past advertising practices.
? Joint industry-wide promotions will allow The Chocolate Bean to establish early traction in its goals for market share in other capital cities.
Tasks
In this stage you are to complete a Viability Report for each of the marketing opportunities identified in the scenario above.
Complete each of the following tasks and write them up in the Viability Report with information under the following headings:
1. Cost and benefits:
Do an analysis of costs and benefits for the company for each of the marketing opportunities, based on the information provided.
2. PEST:
Complete a PEST analysis for each opportunity.
3. Risk:
Undertake a risk analysis for each opportunity, including approaches available to manage the identified risk (risk management strategy).
4. Fit:
Write a description of the likely fit of each opportunity with organisation goals and capabilities.
5. Impact:
Write a description of the likely impact of each opportunity on current business activities and customer base.
Write up the viability report with headings as above (1,500-2,000 words). Include charts, graphs and other graphics as appropriate.

Stage Three: Developing marketing objectives
In this stage you will need to develop short-term and long-term measurable marketing objectives for the business. You need to develop marketing objectives that reflect the strategic directions of the business, and for each, you need to define how they will be measured, and justify how they are aligned with organisational strategic directions.
Scenario
The CEO has informed you that the Board have considered your analysis of the two expansion opportunities (franchising or joint venture), along with their own assessment of a wholly-owned company expansion, and decided to go ahead with the joint venture proposed by Haven's Chocolates.
The CEO has asked you to develop some marketing objectives for the expansion plan.
You arrange a meeting with the CEO and take along The Chocolate Bean's marketing plan from 2017 and the Haven's proposal to help you determine the new marketing objectives.
You note the targets in The Chocolate Bean Marketing Plan for 2017 focus on building brand awareness amongst customers. The CEO explains that this is a benchmark that The Chocolate Bean would like to achieve in all markets in which it operates. This is in keeping with the Chair of the Board's statement, ‘By 2021, I see The Chocolate Bean with a significant presence in retail chocolate in every Australian capital city'.
The CEO states that, in Melbourne, it was brand awareness that helped to secure the key objectives of market penetration and share, and that this should continue to be the goal. Brand awareness will be achieved by the joint venture TV advertising campaign, costing the company $1.1 million in each new market. This money has been set aside in the budget, as has provisions for an increase in staff for the marketing department to help manage the campaign. Priorities for the plan are to ensure that the branding exercise complies with the Competition and Consumer Act 2017, and that it is not associated with activities that are not in the community's best interests. Established markets will allocate 20% of the advertising budget for brand awareness rather than product promotion.
Managing brand awareness is an overall company responsibility. All managers and executives will be charged with the responsibility to display the brand prominently in stores, advertising, packaging, staff uniforms, vehicles and in PR articles. The key to managing this target will be regular feedback from surveys and research conducted by national consultants Holt & Burrows.
You also note that the sales analysis of existing Melbourne stores shows handmade chocolate at 45%, partly handmade at 25%, machine made chocolate at 15%, together with the hot beverages at 15%. The CEO explains that, initially, the hand-made chocolate gains early traction with the market, followed by uptake in other categories. For this reason, the CEO suggests that a target of 30% for machine made chocolate would indicate that the new markets were on track to achieve the overall sales target.
Often a new customer's first purchase is from the Dark Decadence range, and this provides an opportunity to sign them up for a loyalty program. Therefore, the initial advertising budget will feature items from this category, and also be the focus of the front entrance prominent display during the initial period.
In terms of market share, the vision of the company is to dominate the markets in which The Chocolate Bean operates. The CEO explains that The Chocolate Bean has approximately 18 % of the Melbourne gourmet chocolate market, and they expect to replicate and increase this rate in the long-term for every capital city in which they operate. From a position of dominance, the company is able to achieve its sales targets, as well as the gross margins required to succeed.
A full marketing plan will be developed, with resources including access to Holt & Burrows and 5% of turnover allocated to finance the budget to achieve this target. The company will need to ensure that it complies with the competition rules set by the ACCC for the market dominant player. To achieve this share, it is very important that stores achieve their break-even target of $3 million. It is estimated that new markets will need to achieve about 15% market share before break-even sales levels are secured.
Working closely in this area with the joint venture partner should open doors to established marketing channels that will ensure the achievement of this target. Legal agreements with Haven's Chocolates, covering a The Chocolate Bean veto right, will ensure that all marketing is conducted in a clearly defined ethical and legislative compliant way. The following notes are from your Haven's Chocolates proposal review:
? Haven's Chocolates overview: Mid-sized operations of only a few stores per city. Haven's sell chocolates at mid ranged prices. No imported goods. Extensive advertising. Medium to high quality product. Currently has stores in Melbourne, Sydney & Adelaide. Strong in the replacement segment rather than new and refurbished dwellings.
? view themselves as operating in different market segments within the same industry.
? Haven's already understands the markets in the three established capital cities, and are looking to open a few stores soon in Brisbane. They have the necessary contacts for essential services and council/ state government compliance issues.
? There may be a conflict of interest between what is good for Haven's and what is good for The Chocolate Bean.
? The rollout to 100 stores is expected to take 5-7 years.
? Advertising would be cheaper, given that they already access media via extensive advertising for Haven's Chocolates.
? Joint brand advertising could be conducted because the market segments are complimentary rather than competitive.
? Customers could enjoy greater access to all of the product groups, including the cheaper range of chocolate.
? Association with a mass producer could impact negatively on The Chocolate Bean' premier reputation for quality chocolate.
? Haven's Chocolates will help establish The Chocolate Bean' brand awareness with access to low-cost combined media buys in other capital cities.
? Haven's Chocolates will share advertising space on billboard, advertising and PR articles.
? Concerns over Haven's Chocolate's past advertising practices.
? Joint industry-wide promotions will allow The Chocolate Bean to establish early traction in its goals for market share in other capital cities.

Read the above scenario and complete the following tasks. There are two parts.

Tasks

PART A
For the business opportunity identified in the Scenario, you need to create a Marketing Objectives report, that reflects the strategic directions of the organisation. First, complete the tasks and present the information under the following headings.
1. Objective Description
Describe what the objectives are. Include examples of both long term and short-term marketing goals.
2. Overall KPI
What is the "Overall KPI" to be achieved by the objectives? Write this in KPIs ensuring that they are measurable.
3. Attainability
Describe how each objective will be attainable including what is the nature and extent of what is to be achieved.
4. Compatibility
Describe how the objectives are compatible with the organisation's strategic direction and purpose.
5. Consistent
Describe how the objectives are consistent with the current and future needs of the business.
6. Resourcing
Describe how the objectives are compatible with organisational projections for capability, resources and finances.
7. Legal Requirements
Do the objectives meet the legal and ethical requirements affecting the business? List the relevant legislation from all forms of government, codes of practice and national standards that affect the organisation.

PART B
From your list of short-term and long-term marketing objectives, you need to consult with the CEO who will assist in identifying key long-term strategic objectives for the organisation.
For each key long-term strategic objective, you need to develop a brief written report that describes:
• The key performance indicators (KPIs), apportioned to the product and market sector.
• A risk management strategy.
1. Meet with the CEO (your trainer) to discuss the short and long-term objectives that you have outlined. Present your objectives in the form of a brief oral presentation, then ask for feedback.
Your trainer will advise you when this is to take place. Your meeting should go for approximately 10 minutes.
2. Write up a brief summary of the meeting with the CEO, including feedback.
3. Write the list of key long-term strategic objectives you formulated and for each, determine the key performance indicators (KPIs), apportioned to the product and market sector.
4. Develop a risk management strategy for each of the two long-term objectives to identify risks and manage contingencies, and to ensure marketing objectives are met in accordance with overall organisational requirements.
For your risk calculation:
(a) develop a list of potential risks and contingencies (what might go wrong) associated with your objectives.
(b) Rate each of the risks and contingencies using the Risk and Consequence table like the sample format shown below or similar.
• Likelihood - for each risk, assess the likelihood of the risk occurring.
• Consequence - for each risk, assess the consequence of the risk occurring.

(c) Once you have rated the risks and contingencies, list them in order of priority and for each say how you will manage them.

5. Present a written report describing key long-term strategic objectives and your risk management strategy (1500 to 2000 words.)

ASSESSMENT 2: PROJECT
Stage One: Reviewing strategic direction and marketing performance
For this stage you will need to review the strategic marketing objectives for the company, meet with the CEO to confirm your understanding of the objectives (your trainer will perform the role of CEO) and complete a range of analyses to confirm and evaluate the business's marketing activities, including progress of the organisation against established strategic objectives.
Tasks
You have been asked to clarify the current status and strategic directions of the company, and then evaluate their previous marketing activities. Based on the business scenario provided above:
1. Develop a written statement that:
(a) Describes the mission, purpose, vision and values of the organisation
(b) Identifies strategic directions and targets for the organisation.
2. Now you need to meet with the CEO (your trainer) and confirm that you have correctly described the strategic directions for the organisation.
Your trainer will advise you when you are to meet. The meeting will take approximately 5 minutes.
(a) Clearly outline the directions and ask for feedback.
(b) Write up a brief written summary of the outcomes of the meeting with your CEO (your trainer)
3. After receiving confirmation, you need to complete an organisational review, with a maximum word length of 2,500 words. The review needs to include each of the components in the following tasks.
4. Complete a Situational Analysis including a PEST (political, economic, social and technologic) analysis) of the organisation.
5. Identify the legal and ethical requirements for the organisation in order to address the issues and objectives they have identified.
6. Describe the impact of the organisational strategic direction on current marketing activities.
7. Analyse the current key products and major markets for strengths, weaknesses, opportunities and threats (SWOT analysis).
8. Evaluate the effectiveness of previous marketing undertakings, including:
(a) Performance against established objectives (including profitability)
(b) Critical success factors
(c) Areas for improvement and lessons learned.

Write up your organisational analysis in the form of a report with headings to reflect each of the tasks above. (approximately 2000 - 2500 words)

Stage Two: Analysing marketing opportunities

In this stage you will need to develop a report analysing several business opportunities for the company.
You will need to examine the information in the scenario below and complete a report comparing several business opportunities available to the organisation. As part of this review, you will need to consider both internal and external factors and costs, benefits and likely fit of the opportunity.
Tasks
In this stage you are to complete a Viability Report for each of the marketing opportunities identified in the scenario above.
Complete each of the following tasks and write them up in the Viability Report with information under the following headings:
1. Cost and benefits:
Do an analysis of costs and benefits for the company for each of the marketing opportunities, based on the information provided.

2. PEST:
Complete a PEST analysis for each opportunity.
3. Risk:
Undertake a risk analysis for each opportunity, including approaches available to manage the identified risk (risk management strategy).

4. Fit:
Write a description of the likely fit of each opportunity with organisation goals and capabilities.

5. Impact:
Write a description of the likely impact of each opportunity on current business activities and customer base.

1. Cost and benefits:
2. PEST:
3. RISK
4. Fit:
5. Impact:

Write up the viability report with headings as above (1,500-2,000 words). Include charts, graphs and other graphics as appropriate.
Submission Requirements
For this stage you are to submit:
• a written viability report (steps 1-5 or procedures).
• Word limit of 1,500-2,000 words.
Stage Three: Developing marketing objectives
In this stage you will need to develop short-term and long-term measurable marketing objectives for the business. You need to develop marketing objectives that reflect the strategic directions of the business, and for each, you need to define how they will be measured, and justify how they are aligned with organisational strategic directions.

Tasks

PART A
For the business opportunity identified in the Scenario, you need to create a Marketing Objectives report, that reflects the strategic directions of the organisation. First, complete the tasks and present the information under the following headings.
1. Objective Description
Describe what the objectives are. Include examples of both long term and short-term marketing goals.

2. Overall KPI
What is the "Overall KPI" to be achieved by the objectives? Write this in KPIs ensuring that they are measurable.

3. Attainability
Describe how each objective will be attainable including what is the nature and extent of what is to be achieved.

4. Compatibility
Describe how the objectives are compatible with the organisation's strategic direction and purpose.

5. Consistent
Describe how the objectives are consistent with the current and future needs of the business.

6. Resourcing
Describe how the objectives are compatible with organisational projections for capability, resources and finances.
7. Legal Requirements
Do the objectives meet the legal and ethical requirements affecting the business? List the relevant legislation from all forms of government, codes of practice and national standards that affect the organisation.

PART B
From your list of short-term and long-term marketing objectives, you need to consult with the CEO who will assist in identifying key long-term strategic objectives for the organisation.
For each key long-term strategic objective, you need to develop a brief written report that describes:
• The key performance indicators (KPIs), apportioned to the product and market sector.
• A risk management strategy.

1. Meet with the CEO (your trainer) to discuss the short-term and long-term objectives that you have outlined. Present your objectives in the form of a brief oral presentation, then ask for feedback.
Your trainer will advise you when this is to take place. Your meeting should go for approximately 10 minutes.
2. Write up a brief summary of the meeting with the CEO, including feedback.

3. Write the list of key long-term strategic objectives you formulated and for each, determine the key performance indicators (KPIs), apportioned to the product and market sector.

4. Develop a risk management strategy for each of the two long-term objectives to identify risks and manage contingencies, and to ensure marketing objectives are met in accordance with overall organisational requirements.
For your risk calculation:
(a) develop a list of potential risks and contingencies (what might go wrong) associated with your objectives.
(b) Rate each of the risks and contingencies using the Risk and Consequence table like the sample format shown below or similar.
• Likelihood - for each risk, assess the likelihood of the risk occurring.
• Consequence - for each risk, assess the consequence of the risk occurring.

(c) Once you have rated the risks and contingencies, list them in order of priority and for each say how you will manage them.

5. Present a written report describing key long-term strategic objectives and your risk management strategy (1500 to 2000 words.)

Attachment:- Develop organisational marketing objectives.rar