What is this assessment task about?
You are the new marketing manager engaged by the business. You have been asked to:
- Evaluate the marketing mix
- Determine the marketing mix for the specific market
This task comprises of product-based assessment methods in a simulated work environment.
It has been designed to evaluate your ability to:
- Identify key characteristics of products or services and estimate their significance to the market
- Review pricing policy and analyse pricing variables to determine their effect on demand
- Analyse promotional methods to determine their importance to marketing outcomes
- Review channels of distribution and estimate their significance to marketing outcomes
- Identify and analyse level of customer service provision to determine its significance to marketing outcomes
- Identify potential customer base and key pressure points
- Analyse and test effect of components of marketing mix on each other, and establish their relative importance to customer base
- Identify and assess environmental factors, and their impact on marketing mix
- Identify consumer priorities, needs and preferences affecting marketing mix
- Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning
- Select marketing mix that best satisfies target market and meets marketing objectives
Task summary and instructions
- Ensure marketing mix decision meets organisational, strategic and operational marketing objectives
You are required to address the following:
- Task 2.1 Evaluate each component of the marketing mix:
o Develop a report to evaluate the current marketing mix
o Test the components of the marketing mix using a focus group
- Task 2.2 Determine the marketing mix for the specific market:
o Develop a marketing report to determine the marketing mix for a specific market
o Review the recommended marketing mix against marketing objectives