Course Title: Identify and evaluate marketing opportunities
Part B: Course Detail
Teaching Period: Term1 2023
Course Code: MKTG6131C
Course Title: Identify and evaluate marketing opportunities
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: Melbourne Cricket Education Academy
Program: C4421 - Certificate IV in Entrepreneurship and New Business
Course Contact: Thersea Lyford
Course Contact Phone: +61 3 9925 5444
Course Contact Email: theresa.lyford@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 70
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
Nil
Course Description
This unit describes the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.
The unit applies to individuals working in a supervisory or management marketing or advertising role within a marketing or advertising team or media organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG541 Identify and evaluate marketing opportunities |
Element: |
1.Explore marketing opportunities |
Performance Criteria: |
1.1 Analyse information on market and business needs for marketing opportunities 1.2 Identify potential new markets 1.3 Apply innovative approaches relevant to the development of potential marketing opportunities |
Element: |
2.Evaluate marketing opportunities |
Performance Criteria: |
2.1 Identify and analyse opportunities for organisational fit according to organisational goals and capabilities 2.2 Analyse the viability of each opportunity 2.3 Determine probable return on investment and potential competitors 2.4 Select marketing opportunities according to outcomes of viability analysis, return on investment and competition |
Element: |
3.Evaluate required changes to current operations |
Performance Criteria: |
3.1 Seek feedback from relevant stakeholders 3.2 Incorporate feedback received for current operations and take advantage of viable marketing opportunities 3.3 Review current operations and document changes needed 3.4 Identify resource requirements for marketing opportunities 3.5 Document and communicate viability of marketing opportunities to key stakeholders |
Learning Outcomes
On successful completion of this course you will have developed and applied the sills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
This course is structures to provide you with the optimum learning experience. A range of learning activities are provided during the semester and are designed to enhance learning and understanding of the topics.
You will participate in a combination of group and individual learning activities. These activities will be provided through classroom work time and additional learning activities will be provided to you to complete outside of the scheduled class time.
A range of in class activities, case studies and independent research is included as the learning activities for this course. We expect you to participate and contribute in all scheduled learning activities.
The learning activities will also include group discussion, group problem solving activities and opportunities to practice your skills in a simulated workplace environment.
Teaching Schedule
The course syllabus provides you with information about:
- When classes are held, and what topics are covered each week (including the relevant Unit of Competency and associated Elements/Performance Criteria);
- What learning materials and activities need to be completed; and,
- What assessments are due
|
Weekly Schedule BSBMKG541 - Identify and evaluate marketing opportunities | ||
Week |
Topics |
Assessment |
Week 1 |
Introduction & Overview of marketing opportunities |
|
Week 2 |
Research data on organisation, industry and consumer for analysis |
|
Week 3 |
Research data on organisation, industry and consumer for analysis and SWOT |
|
Week 4 |
Qualitative tools for analysis and interpretation and PIT STOP 1 |
Pitstop 1 |
Week 5 |
Introduction to statistics |
|
Week 6 |
Marketing Statistics and forecasting |
Pitstop 2 |
Week 7 |
Marketing Statistics using excel |
|
Week 8 |
Developing innovative and creative ideas |
|
Week 9 |
Innovative and creative thinking in new opportunity development |
|
Week 10 |
Investigate new ideas and presentations |
Pitstop 3 |
|
|
|
Week 11 |
Evaluation of new opportunities and validation |
Pitstop 4 |
Week 12 |
New product launch plan including forecasting |
|
Week 13 |
Assessment overview and workshop |
Assessment Task 1 due |
Week 14 |
Impact of new opportunities on organisation |
|
Week 15 |
Assessment 3 workshop - Consultation (Presentations to the class teacher) |
Assessment Task 2 due |
Week 16 |
Consultation |
|
Week 17 |
Consultation |
|
Week 18 |
Resubmits and consultations of assessments |
|
Learning Resources
Prescribed Texts
References
Other Resources
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
Assessment 1
Summary and purpose of assessment
For this course there are two (2) assessments that need to be completed satisfactorily to be deemed competent in this course. This is assessment task 1.
In this assessment you are to demonstrate your analysis skills of the market by identifying possible marketing opportunities for an organisation. (ALL facts must be clearly referenced and at least 3 different sources of data used).
You are required to come up with 3 new product/service concepts in new categories for this organisation.
Using innovative approaches to identify potential new markets to satisfy business needs, you will evaluate and validate each new concept and prioritise them.
- Clearly define the target market segments and the needs of each that their concepts will satisfy.
- This assessment can be completed in pairs. You can work as a team; however, all submissions of work are to be done individually when uploading to Canvas.
For this assessment a document of approximately 2000-2500 words is required, tables and charts should be used as appropriate.
You will be required to attend four (4) meetings with your teacher to discuss your progress with the assessment, as well as tracking individual participation. These meetings are called “pitstops”. Date and times will be provided on the Canvas schedule.
Assessment 2
Summary and Purpose of Assessment
For this course there are two (2) assessments that need to be completed satisfactorily to be deemed competent in this course. This is Assessment Task 2.
This assessment is based on the launch of your new product or service presented in Assessment Task 1. You are to document how your organisation needs to be modified due to the launch of this new product or service opportunity. This assessment requires research and analysis into the organisation and the industry the opportunity is entering.
Assessment Matrix
The assessment maps for all the assessment is available on CANVAS.
Other Information
Submission Requirements
You should:
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration. You must submit your application within five working days after your assessment date or due date.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Re-submissions (VE Programs):
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one re-submission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the re-submission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which assessment arrangements might be granted please access the following website:
Final Results
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
The following grades are available for this course:
CA |
Competency Achieved |
NYC |
Not Yet Competent |
DNS |
Did Not Submit for Assessment |
Course Overview: Access Course Overview