These instructions must be followed when assessing the student in this unit. The checklist on the following page is to be completed for each student. Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.
This competency is to be assessed using standard and authorised work practices, safety requirements and environmental constraints.
Assessment of essential underpinning knowledge will usually be conducted in an off-site context.
Assessment is to comply with relevant regulatory or Australian standards' requirements.
Resource implications for assessment include:
• an induction procedure and requirement
• realistic tasks or simulated tasks covering the mandatory task requirements
• relevant specifications and work instructions
• tools and equipment appropriate to applying safe work practices
• support materials appropriate to activity
• workplace instructions relating to safe work practices and addressing hazards and emergencies
• material safety data sheets
• research resources, including industry related systems information.
Task 1 – Marketing Opportunities Identification and Evaluation
Using a simulated business, you are the marketing manager for the organisation. Briefly describe the organisation, its products or services and its current markets. Identify two opportunities to enter new market, with current or new products and two opportunities to introduce new products to your current markets.
Analyse and document these opportunities in terms of:
o their potential contribution to the organisation’s business
o their fit with the organisation’s goals and capabilities
o likely impact on your current business and customers
o external influences on the financial viability of each opportunity
o probable return on investment
o changes needed to current operations
o changes needed to maintain current quality of customer service
o resources required to make the necessary changes
Communicate your findings and recommendations to the key stakeholders in the organisation via a written report and presentation.
In your report, ensure you give detailed explanations of the legislation and codes of ethicswhich apply to its marketing activities. Present your findings within the written report andlist all the sources of your information.
The following attached Marketing Requirements Document may be used as a basis for thisassessment task.
Provide a concise report of the specific objectives for this Market Requirements Document (MRD), along with pertinent facts, assumptions, and recommendations noted throughout the document. Typically, it’s best to complete this section after all the other parts of the MRD document are finalized.
Summarize section 2.1.
Summarize section 6.
Summarize section 8.
Summarize section 9.
Describe the market problem and resulting market opportunity.
Describe the product’s strategic purpose and how it helps meet the company’s long-term business objective (e.g., Will the product demonstrate new technology? Will the product penetrate new markets?). Clearly quantify and substantiate the market opportunity.
Keeping the customer’s perspective in mind, identify and justify any market challenges that exist in the marketplace that require change. List the customer pain points that your product or service can alleviate.
Indicate how customers currently handle the pain points listed in section 2.2; explain how, why, where, and when they remain unsatisfied. Summarize primary competitive solutions as well as internal home-grown solutions.
Describe the value proposition and list the primary benefits for customers from your product or service. Explain how and why the company’s solutions are (or will be) better and different than other solutions currently available.
Describe the product strategy based on the most current company and product vision and roadmap. If the company does not have a separate document describing the product strategy, this section of the MRD can fill that purpose.
Note: When and if the company produces a more detailed product strategy document, this section may be omitted.
Describe the product strategy for the expected product releases over the next 24 months. Provide rationalization for the multiple releases and explain the relationship each expected release has to each other.
Provide a positioning statement--a single sentence or short paragraph that summarizes the positioning strategy for a product line. Its use is for internal purposes only (this is not a tagline or a message to be used verbatim with customers and prospects). The positioning statement is a tool used to align the product team with a commonly understood and accepted umbrella positioning strategy for the product line.
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