MKT101 – Marketing Fundamentals Assessment
Learning Outcomes Addressed:
- Describe the marketing concept
- Outline and apply the elements of the marketing process.
- Identify and explain the macro and micro environmental factors impacting the marketing of a business or industry.
- Demonstrate an ability to incorporate new trends to solve marketing problems and apply communication skills.
Context
The aim of the Assessed Discussion Forum is to provide a framework to encourage student engagement, to encourage collaboration and to foster valuable perspectives gained from shared learning experiences.
These assessed discussion forums promote critical thinking in the application of theory into practice. You will be able to reflect on your own efforts, and extend and enrich this reflection by exchanging feedback on your peers’ work.
Instructions:
1. Select a Business. Choose a small or medium sized existing business as a client. This business will be used for Assessment 1 & 2. This is considered as one with less than 200 employees. Students may also like to consider a small business in their local area/neighbourhood to focus on or even a business run by friends or family. This business must be business to consumer (B2C), based in Australia, and currently operating.
Tips for choosing your business:
- Keep your business choice simple. The idea of this subject is to apply, analyse and formulate ideas based on marketing theories and concepts. If you don’t understand your chosen business or if it’s overly complicated, you will find it difficult to work within the defined parameters.
- Choose something you are familiar with and somewhat interested in.
- Avoid large companies and chain stores. Apple, Coca-Cola, McDonalds, Telstra, Holden for example, are too large and complex to work with.
The focus of this assessment is on identifying and explaining the macro and micro environmental factors that could influence the business or the industry from a marketing point-of-view. You should also be able to identify new trends as part of the situational analysis, in order to propose marketing solutions to potential issues that may affect the client in Assessment 2.
NB: Before you go ahead, you must discuss with your Learning Facilitator your choice of business. This should be sent as an email before the commencement of Module 2.
2. Business Background. Provide a brief background of your business and describe it using the 4P’s framework – product, price, promotion and place. Provide a link to the business website in the reference section.
3. Competitor Analysis. Perform a competitor analysis that includes a review of at least one (1) direct competitor and one (1) indirect competitor. In the direct competitor analysis, use the competitor 4P’s framework for a meaningful comparison.
4. SWOT Analysis. Conduct a SWOT analysis of your business using the headings:
- Strengths
- Weaknesses
- Opportunities
- Threats
You should analyse the business micro-environment to develop your discussion of strengths and weaknesses. Also consider the 4P in terms of what the business does well, and where it can improve. The use of the PESTLE framework is recommended to guide your research into the macro environment in order identify relevant trends facing your business. This will inform your discussion of opportunities and threats.
Within your analysis, include at least:
- 3 Internal strengths
- 3 Internal weaknesses
- 3 External opportunities and
- 3 External threats
5. Post Your Findings. Compile your findings and post your response to the Assessment 1 Discussion Forum. Do not upload or attach a file to your discussion forum post. If you have developed your analysis in MS Word or similar, copy and paste your information into the forum.
Ensure to include a reference list using APA 6th ed. A minimum of 4 credible and reliable sources should be used in your research. Your essential readings and any links /readings shared by your learning facilitator are a very good starting point for developing the reference list.
6. Peer Feedback. After you post your analysis in the discussion forum, you will then see all other student posts. Read and comment on at least two (2) student posts. The expectation is that students would familiarise themselves with the other student’s business to create a more meaningful and helpful response. When constructing your comments, some areas to consider might include:
- Impression of their work and its quality
- Identification of additional issues that may be relevant
- Suggestions on trends affecting their business or developments they may have not considered
- General positive and constructive feedback
- Any general reflections when compared to your own submission
Note: As a guide, the 1000 words should be allocated as follows: 750 words for the initial student post and 250 words in total, for the two peer posts