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Evidence Guide: BSBMKG502 - Establish and adjust the marketing mix

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBMKG502 - Establish and adjust the marketing mix

What evidence can you provide to prove your understanding of each of the following citeria?

Evaluate each component of marketing mix

  1. Identify key characteristics of products or services and estimate their significance to the market
  2. Review pricing policy and analyse pricing variables to determine their effect on demand
  3. Analyse promotional methods to determine their importance to marketing outcomes
  4. Review channels of distribution and estimate their significance to marketing outcomes
  5. Identify and analyse level of customer service provision to determine its significance to marketing outcomes
  6. Identify potential customer base and key pressure points
  7. Analyse and test effect of components of marketing mix on each other, and establish their relative importance to customer base
Identify key characteristics of products or services and estimate their significance to the market

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review pricing policy and analyse pricing variables to determine their effect on demand

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse promotional methods to determine their importance to marketing outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review channels of distribution and estimate their significance to marketing outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and analyse level of customer service provision to determine its significance to marketing outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential customer base and key pressure points

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine marketing mix for specific markets

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify consumer priorities, needs and preferences affecting marketing mix

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select marketing mix that best satisfies target market and meets marketing objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure marketing mix decision meets organisational, strategic and operational marketing objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and adjust marketing mix

  1. Monitor marketing mix against marketing performance and isolate components for testing
  2. Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response
  3. Adjust components of marketing mix in response to test results and market-response evaluation
  4. Ensure adjusted marketing mix meets budgetary requirements
  5. Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning
Monitor marketing mix against marketing performance and isolate components for testing

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Adjust components of marketing mix in response to test results and market-response evaluation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure adjusted marketing mix meets budgetary requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate each component of marketing mix

1.1 Identify key characteristics of products or services and estimate their significance to the market

1.2 Review pricing policy and analyse pricing variables to determine their effect on demand

1.3 Analyse promotional methods to determine their importance to marketing outcomes

1.4 Review channels of distribution and estimate their significance to marketing outcomes

1.5 Identify and analyse level of customer service provision to determine its significance to marketing outcomes

1.6 Identify potential customer base and key pressure points

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

2. Determine marketing mix for specific markets

2.1 Identify and assess environmental factors, and their impact on marketing mix

2.2 Identify consumer priorities, needs and preferences affecting marketing mix

2.3 Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning

2.4 Select marketing mix that best satisfies target market and meets marketing objectives

2.5 Ensure marketing mix decision meets organisational, strategic and operational marketing objectives

3. Monitor and adjust marketing mix

3.1 Monitor marketing mix against marketing performance and isolate components for testing

3.2 Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response

3.3 Adjust components of marketing mix in response to test results and market-response evaluation

3.4 Ensure adjusted marketing mix meets budgetary requirements

3.5 Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Evaluate each component of marketing mix

1.1 Identify key characteristics of products or services and estimate their significance to the market

1.2 Review pricing policy and analyse pricing variables to determine their effect on demand

1.3 Analyse promotional methods to determine their importance to marketing outcomes

1.4 Review channels of distribution and estimate their significance to marketing outcomes

1.5 Identify and analyse level of customer service provision to determine its significance to marketing outcomes

1.6 Identify potential customer base and key pressure points

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

2. Determine marketing mix for specific markets

2.1 Identify and assess environmental factors, and their impact on marketing mix

2.2 Identify consumer priorities, needs and preferences affecting marketing mix

2.3 Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning

2.4 Select marketing mix that best satisfies target market and meets marketing objectives

2.5 Ensure marketing mix decision meets organisational, strategic and operational marketing objectives

3. Monitor and adjust marketing mix

3.1 Monitor marketing mix against marketing performance and isolate components for testing

3.2 Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response

3.3 Adjust components of marketing mix in response to test results and market-response evaluation

3.4 Ensure adjusted marketing mix meets budgetary requirements

3.5 Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning