BSBMKG542: Establish and Monitor the Marketing Mix -Management Assignment Help

Assignment Task

Task 2 – Evaluate the marketing mix and determine the marketing mix for the specific market

What is this assessment task about?

You are the new marketing manager engaged by the business. You have been asked to:

• Evaluate the marketing mix
• Determine the marketing mix for the specific market

This task comprises of product-based assessment methods in a simulated work environment.

• It has been designed to evaluate your ability to:
• Identify key characteristics of products or services and estimate their significance to the market
• Review pricing policy and analyse pricing variables to determine their effect on demand
• Analyse promotional methods to determine their importance to marketing outcomes
• Review channels of distribution and estimate their significance to marketing outcomes
• Identify and analyse level of customer service provision to determine its significance to marketing outcomes
• Identify potential customer base and key pressure points
• Analyse and test effect of components of marketing mix on each other, and establish their relative importance to customer base
• Identify and assess environmental factors, and their impact on marketing mix
• Identify consumer priorities, needs and preferences affecting marketing mix
• Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning
• Select marketing mix that best satisfies target market and meets marketing objectives
• Ensure marketing mix decision meets organisational, strategic and operational marketing objectives

You are required to address the following: ·

Task 2.1 Evaluate each component of the marketing mix:

o Develop a report to evaluate the current marketing mix

o Test the components of the marketing mix using a focus group ·

Task 2.2 Determine the marketing mix for the specific market:

o Develop a marketing report to determine the marketing mix for a specific market

o Review the recommended marketing mix against marketing objectives

Complete the following activities:

Task 2.1 Evaluate each component of the marketing mix

A) Marketing Report - Evaluation of current marketing mix

Develop a marketing report for Brew Ha Ha.

• The marketing report must include the following:
• Identify key characteristics of products or services and estimate their significance to the market
• Review pricing policy and analyse pricing variables to determine their effect on demand
• Analyse promotional methods to determine their importance to marketing outcomes
• Review channels of distribution and estimate their significance to marketing outcomes
• Identify and analyse the level of customer service provision to determine its significance to marketing outcomes
• Identify potential customer base and key pressure points

B) Testing

Analyse and test the effect of the components of the marketing mix on each other, and establish their relative importance to the customer base.

Test the components of the marketing mix:

1. Schedule a time with the trainer and assessor in week 3 of class and organise a focus group with a group of classmates who will play the role of the current customers (provide information to the classmates about the characteristics of the customer base identified in the report in Task 2.1A, and explain the business and its products/services).
2. Present the current marketing mix, prepare and ask questions to ascertain its effectiveness.

Example of questions may include:

• What features/ benefits of the product or service do you value the most? Why?
• Is the location of the business convenient? Appealing?
• Do you buy the product online? Why?
• Is the online buying experience seamless?
• Is the product you buy expensive, priced just right, or cheap? Would you buy more products at a lower price?
• Have you bought products because of one of the latest promotions? Could you name the promotion?
• Rate the customer service that you have experienced when buying the product.
• Was the product delivered timely?
• Were your questions answered promptly?
• Can you describe the logo of the business?
• If you had to recommend the product to a friend, what would you say?
• What would influence you to buy more products?
• Is there a product that the business does not offer?

3. Brainstorm with the group to evaluate the effect of the marketing mix components on each other and their relative importance to the customer base.

Task 2.2 Determine the marketing mix for the specific market

A) Marketing Report – Marketing mix for the specific market

Develop a marketing report for Brew Ha Ha.

The marketing report must include the following:

• Identify and assess environmental factors, and their impact on marketing mix
• Identify consumer priorities, needs and preferences affecting marketing mix
• Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning
• Select the marketing mix that best satisfies target market and meets marketing objectives
• Ensure marketing mix decision meets organisational, strategic and operational marketing objectives

B) Review

Review your recommendations and evaluate how the recommended marketing mix meets organisational, strategic and operational marketing objectives. (50-100 words).

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