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Evidence Guide: BSBMKG502B - 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

 

BSBMKG502B - 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 the 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 in relation 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 for success
  7. Analyse and test the effect of the 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 in relation 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 for success

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and test the effect of the 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 asses environmental factors for their impact on marketing mix
  2. Identify consumer priorities, needs and preferences that affect 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 asses environmental factors for their impact on marketing mix

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify consumer priorities, needs and preferences that affect 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 evaluation of market response
  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 evaluation of market response

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

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

developing a report containing a description of activities undertaken to establish a marketing mix in an organisation, including information on each element of the marketing mix, such as:

levels of customer service to be provided

how a product or service will be distributed

how a product or service will be priced

whether additional products or services will be offered

how the product or service will be promoted

reporting on at least one review of the success of marketing mix activities developed including coverage of any necessary adjustments made.

Context of and specific resources for assessment

Assessment must ensure:

access to an actual or simulated workplace

access to office equipment and resources

access to organisational and marketing strategic plans.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

analysis of responses to case studies and scenarios

assessment of written reports on the marketing mix

direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate

observation of presentations on the marketing mix or changes made to the marketing mix

oral or written questioning to assess knowledge and understanding

review of authenticated documents from the workplace or training environment

review of testimony from team members, colleagues, supervisors or managers.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

BSBMKG501B Identify and evaluate marketing opportunities

other marketing units.

Required Skills and Knowledge

Required skills

culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities

literacy skills to identify market information, to write in a range of styles for different audiences and to interpret requirements

numeracy skills to interpret testing results and to manage marketing budgets

organisational and time management skills to design and adjust a marketing mix.

Required knowledge

key provisions of relevant legislation from all forms of government that may affect aspects business operations, codes of practice and national standards such as:

anti-discrimination legislation and principles of equal opportunity, equity and diversity

ethical principles

marketing codes of practice and conduct such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice; Free TV Australia Commercial Television Industry Code of Practice

privacy laws

Trade Practices Act

organisational policies, procedures, products and services

principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix

statistical techniques.

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Characteristics of products or services may include:

brand

brand loyalty

compatibility with other products, services or equipment

degree of customisation

design

durability

ease of maintenance

features

flexibility

functional performance

innovativeness

occupational health and safety issues

packaging

pollution hazard reduction

quality

range of size, colour or other factors

reduction of risks to health and safety, such as noise

robustness

styling

technical features

upgrading

volumes available

Pricing variables may include:

cost of ownership

credit terms

discount percentages

discount structure

financial deals

leasing arrangements

price point chosen

psychological elements

residual value

sales

special offers

stage payments

Promotional methods may include:

impersonal promotion such as:

advertising

sales promotion

personal promotion such as:

direct marketing

face-to-face selling

personal selling

segmentation

Marketing may include:

business-to-business marketing

direct marketing

ideas marketing

marketing of goods

public sector marketing

services marketing

telemarketing

Channels of distribution may include:

dealers

delivery service

distributors

e-business

franchisees

internet

mail order

podcasts

re-seller

retail

self-service

telesales

wholesale

Level of customer service may include:

after sales service

call centre support

electronic client service

no customer service

one-on-one personal service

sales assistance for problems or queries only

Marketing mix may include:

customer service variables

distribution variables

pricing variables

product or service variables

promotional variables

Customer priorities, needs and preferences may include:

required or preferred products/services

preferred price point

preferred purchase volume in units and in dollars

preferred method of payment

preferred time and place for responding

preferred time and place to take delivery

preferred medium to respond to direct response offers such as:

in person

mail

phone

website