Unit of competency name| Identify and evaluate marketing opportunities| Unit of competency number| BSBMKG501B|
On successful completion of this unit you should be able to actively seek out and assess marketing opportunities in terms of viability and suitability to the organisation. You should also be able to turn the assessed marketing opportunities into reality – by scoping the implementation process and getting buy in from management and other key stakeholders for your opportunity.
Specifically, you will be able to:
Identify marketing opportunities
Investigate marketing opportunities
Evaluate required changes to current operations
Reporting of assessment outcomes
Your result will be recorded and reported to you as Distinction or Credit or Competent or Not yet Competent.
If you are doing this unit in a course which is graded (Pass, Credit or Distinction) and this is one of the units which contribute to the course grade, your result in this unit will be assigned a nominal mark which will be used to calculate your course grade.
Requirements to successfully complete this unit of competency
Assessment is a process that will require you to provide evidence that you have achieved the knowledge and skills required in this unit of competency. Successful completion of this unit is based on the assessment of your demonstrated competence in a workplace or simulated workplace environment.
How do you complete this unit?
You can complete this unit by demonstrating competence. To do this you must provide evidence that you can:
Prepare a written report which identifies, evaluates and ranks a number of Marketing Opportunities
Prepare an opportunity scope document that clearly describes the proposed execution of the marketing opportunity
Synthesise the scope, viability, risks and forecast outcomes of the proposed marketing opportunity into a persuasive presentation to gain “buy-in” for the marketing opportunity
What evidence will you be asked to supply?
You may be requested to:
1. Identify and Evaluate Marketing Opportunities and submit a Written Report
Identify and evaluate marketing opportunities. Conduct a SWOT analysis and identify four (4) marketing opportunities. Evaluate each of the four identified opportunities using a range of metrics – for example financial measures; marketing measures; customer impact methods – and competitor response analysis. Rank the marketing opportunities and identify the key opportunity. (This marketing opportunity will be explored further in the next task)
2. Write a Scope Document and Plan the execution of a marketing opportunity
This would include: establishing the marketing opportunity objective, analysing and assessing organizational preparedness; designing a marketing opportunity implementation schedule; establishing a financial analysis, projections and forecasted results for the marketing opportunity; designing suitable marketing controls; establish a clear understanding to the key risks involved in the marketing opportunity and the strategies for managing these risks
3. Provide a persuasive Marketing Opportunity Presentation
Present your marketing opportunity.This would include synthesizing your marketing opportunity framework into communicable pieces, where you would impart objectives and expected outcomes; define the risks; clarify changes that will need to be made and communicate the viability of making changes to current operations. Your peers should act as “managers and key stakeholders” providing feedback on the presentation of your marketing opportunity.
Your teacher will advise you of the specific assessment requirements for this unit.
This is a graded unit.
To receive a PASS grade you must:
Identify several marketing opportunities using a SWOT analysis
Analyse and then evaluate marketing opportunities using one marketing...