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BSBMKG501 Market Opportunities Assignment 2

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BSBMKG501 Market Opportunities Assignment 2

BSBMKG501 Market Opportunities Assignment 2

Assessment Task 2: Marketing opportunities identification project

Task summary:-

This assessment task requires you to identify and evaluate marketing opportunities for a company of your choice. This will include conducting research and analysis to identify the marketing opportunities and investigating and reporting on those opportunities.

This assessment is to be completed in the simulated work environment in the RTO.

Required:-

·        Access to textbooks/other learning materials

·        Computer with Microsoft Office and internet access

·        Meeting space with a presentation projector and screen

Submit:-

·        Email with marketing review report attached

·        Email summarising the three most viable marketing opportunities.

Assessment criteria:-

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.

Assessment Task 2 Instructions:-

This assessment task requires you to identify and evaluate marketing opportunities for a company of your choice, so you will need to identify a company and access its Marketing Plan.

You can choose a company by viewing the site http://www.mplans.com/ or by researching the internet for a Marketing Plan for a company that you are interested in. The marketing plan must include business goals, target customers, marketing/branding strategy, sales forecasts, and marketing budget to provide sufficient information in order to be able to complete this assessment.

Before you start the assessment task, you should discuss your choice of the company with your assessor who will need to approve your choice before you start the assessment project.

For the purposes of this assessment, assume that you are the Marketing Manager of the company that you have chosen and that your assessor is the Managing Director. Assume that the location of the business is in the city or suburb you are living in.

 1. Write a marketing review report.

Thoroughly review the marketing plan for the company you have chosen to ensure that you understand the business objectives, customers and current marketing strategies.

Conduct research on market trends and developments relevant to the business’s products and/or services, potential new and emerging markets, competitors and any other relevant factors. Make notes on your research to share at a meeting with the marketing team.

Based on your review of the marketing plan and your research, identify and assess at least three potential marketing opportunities for the company. Your assessment should focus on each opportunity’s likely contribution to the business. You should also focus on identifying entrepreneurial, innovative and creative ideas for marketing opportunities. Make notes on your ideas to share at the meeting.

Write a short report summarising your review of the marketing plan and research that, as a minimum, addresses:

·        A summary of business objectives, target customers and current marketing strategies.

·        Outline of current market trends and developments, potential new and emerging markets, competitors and any other relevant factors.

·        Explanation of three marketing opportunities that you have identified as being most viable, including your assessment of each of the marketing opportunities with regard to their contribution to the company.

 

You will be required to present and discuss your report at a meeting with your marketing team. Print out a copy of your report and the marketing plan for each person who will attend the meeting.

Name of the business: Tesla motors

Business Objectives:

·       To generate the demand for Tesla motor electric cars

·       Increase the sales of the car

·       Building long-term brand awareness

·       Increasing the reputation

·       Create loyalty among customers

Target customers:

·       The customer who is eco-friendly

·       The customers who are very tech savvy

·       The entry-level luxury car wanted customers

Current market strategy:

·       Providing quality products to the customers

·       Great locations of the store to connect with the customer

·       Charging stations are in key locations

·       The website which provides a great way for sales and marketing

Current market trends:

Tesla Model S is the best-selling car in the US. Tesla is the best brand car in term of technology and innovation. Currently, Tesla holds 1.44% market share on the US.

Potential new and emerging markets:

There is a new potential market for Tesla in the Asian countries. The build quality and technologically advanced cars of Tesla could have a huge impact on the Asian market mainly in India.

Competitors:

The main competitors of Tesla Motors are

·       Ford Motor Company

·       General Motors

·       Honda Motors

·       Hyundai motors

·       Nissan

Three marketing opportunities:

1.     Social media: Social media is a great opportunity for Tesla for marketing their products.

2.     Put a face to the name: Tesla could give the main person of it more recognition as he creates hype about the new cars and gears sales of the company.

3.     Inspire the wider discussion: Support and promote the environmental movement and test drive movement.

 

2. Send an email to the Marketing Team (your assessor).

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment, and ask for the time, date and place of the meeting.

Attach your marketing review report and a copy of the marketing plan to the email.

To:

From:          

Hi Team,

I have successfully developed a marketing review report of Tesla motors. In the report, I have discussed the business objectives, target customers and current marketing strategies. Also, we have Outline of current market trends and developments, potential new and emerging markets, competitors. Explanation of three marketing opportunities

I am now waiting for a meeting with you. We can meet on Friday morning this week between 10 a.m.-and-12 p.m. Hope all of you will be there.

Please let me know by the end of the day if that meeting time works for you.

Regards,

Y

Attachments:

·       Marketing review report

3.Conduct meeting:-

The next part of your assessment requires you to conduct a short brainstorming session with your team. Your assessor will have allocated a number of other students to be part of your team and your assessor will roleplay your Managing Director.

At the meeting, you will be required to discuss your report and address:

·        A summary of business objectives, target customers and current marketing strategies.
·        An outline of current market trends and developments, potential new and emerging markets, competitors and any other relevant              factors.

·        An explanation of the three marketing opportunities that you have identified.

You are then required to ask your team to share their ideas on the marketing opportunities you have identified and assessed.

Take note of their ideas and get your team to confirm that the three marketing opportunities are viable and align with the organization's objectives.

During the meeting, demonstrate effective communication skills including:

·        Speaking clearly and concisely

·        Using non-verbal communication to assist with understanding

·        Asking questions to identify required information

·        Responding to questions as required

Conducting a meeting

Me: Hello, Team. How is everything going?

Team staff: Fine, Sir. How are you, sir?

Me: I am fine also. Si do you have a look at the report?

Team staff: Yes, Sir.

Me: Is there any queries or questions?

Team staff: We are not clear about the business objectives.

Me: Okay. Tesla wants to generate demand for the electric cars, increase the sales and brand loyalty also build the long-term awareness of the customer.

Team staff: Thank you, sir. What about their market and their competitors?

Me: The customer who are eco-friendly and tech-savvy is there target customer. Their market strategies are providing quality products and build the store and charging station in key locations.

Team staff: What about their marketing opportunities Sir? Me: Social media, giving their main person a face and discussion is the marketing strategies for them. Team staff: Thank you, Sir. Me: Welcome. Any queries or suggestion?

Team staff: No sir. Me: We will meet again in a short time.

BSBMKG501 Market Opportunities Assignment 2, Financial Assignment Help, Business Development Assignment Help, Marketing Case Study Help, Managerial Economics Assignment Help, Marketing Channel Management Assignment Help



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