BSBMKG621 - Assessment Task 1 - Written Questions Template v21.1-2

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Australian Defence Force Academy *

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Marketing

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Jan 9, 2024

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BSBMKG621 Develop organisational marketing strategy Assessment Task 1 Written Questions Template Provide answers to all of the questions below: 1. Describe what is a marketing strategy using your own words. Marketing strategy refers to the overall game plan of a business to reach prospective consumers and convert them into customers of its products or services. Marketing strategy consists of presenting company values. Brand messaging that matters Information about the demographics of prospective customers. and other high-level elements. 2. Provide an example of a marketing strategy. Content Strategy Content marketing attempts to create and share online content, such as blogs, social media posts, or videos, with a strategy to drive interest in a particular product or brand without directly promoting a particular brand. It also increases brand awareness and provides valuable information to customers. Example: A dog shampoo company regularly blogs to offer their customers dog care tips. 3. Describe cost-benefit analysis techniques. Cost-benefit analysis techniques A cost-benefit analysis is the most straightforward way to weigh your options. when deciding whether to continue the project It is a technique for weighing the pros and cons of making objective decisions. When you fall in love with an idea Your imagination will run too easily. in terms of business decisions This method can be applied to a variety of situations: • To consider investment feasibility • To determine whether to hire additional staff. • To confirm the feasibility of a project or change of operations. • To establish standards for comparing projects. ECA College RTO 45012 v21.0 Page 1 of 5

BSBMKG621 Develop organisational marketing strategy 4. Outline key provisions of relevant legislation, codes of practice and national standards affecting marketing operations • Australian Consumer Law and Marketing Communications • Australian Competition and Consumer Commission (ACCC) and • Australian consumer law (Trade Practices Act) of Australia • There is only one national law governing fair trade and consumers. • Protection: Australian Consumer Law (ACL) • Warranties and guarantees Marketers need to focus on consumer guarantees which is subject to the Australian Consumer Law. • Australian Telemarketing Do Not Call Registration came into effect on 31 May 2007, although there are some exceptions (e.g., Research Tree Charity and political parties) It is now illegal for telemarketers to call Australian phone numbers that are used primarily for personal or domestic purposes and have been added to the do not call registry. • Australian Privacy Laws • Anti-Spam Legislation • Australia's Digital Marketing Regulations • Anti-Spam Legislation in Australia • Advertising Standards in Australia • Self-Regulatory Program for the ADAA 5. Describe the following related to marketing strategy: a. organisational structure, b. policies, procedures, c. products or services. • Organizational structure, policies, and procedures The traditional organizational structure is divided into four broad categories: Working, Division, Matrices, and Flats. • Organization structure by line People who perform similar tasks are grouped together according to their aptitude in the organizational structure by line. • Product specific department structure Your company's departmental structure divides employees into teams based on products or projects that serve the needs of specific customer types. • Integration of functional and division models in a matrix structure The matrix structure is more complex as it combines the elements of functional and division models. • Flat organizational structure Flat organizational structures aim to break the traditional top-down system of most companies’ management style. ECA College RTO 45012 v21.0 Page 2 of 5

BSBMKG621 Develop organisational marketing strategy • Policies, procedures The marketing plan phase encompasses administrative activities that determine the overall direction of marketing efforts. This includes gathering and analysing information about past and present direction, efforts, and organizational context. Understanding the external context can be examined by considering things such as the legal, technological, competitive, market, cultural, social, and economic environments that affect an organization. The following marketing process will help your organization set clear and well- documented strategies and goals. and communicate with the company, while considering issues related to the values, culture, and performance of the organization. This will help you identify customers or stakeholders. These stakeholder requirements apply to your organization. as well as life cycle requirements for post-delivery activities related to the products and services provided by the organization. • Products or services Product strategy is like a roadmap. and as well as plans It is only useful if you know where you are and where you want to go. Service strategy provides guidance on how to design, develop and implement service management. not only as an organizational capability but also strategic assets. 6. Describe overall strategic plans of the organisation. Strategic planning is the process by which an organization's leaders set a vision for the future and identify the organization's goals and objectives. This process includes defining a sequence of goals that should be realized. so that the organization can achieve its vision 7. Briefly describe the following: a. principles of marketing b. concepts of marketing and c. evaluation methodologies. Marketing principles or marketing principles are a consensus based on marketing concepts that companies Use it for effective marketing strategies. It is the principle that we use to create a product promotion strategy. We can use marketing principles to effectively promote products or services. The concept of marketing refers to whenever a company plans and executes to maximize profits by increasing sales. meet customer needs and beat the competition The goal is to create a situation that serves both parties customers and companies. Evaluation methodologies are tools to help better understand the steps necessary to ECA College RTO 45012 v21.0 Page 3 of 5

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BSBMKG621 Develop organisational marketing strategy conduct effective assessments. Assessment methods cover the concept of assessment and how it can be used to try to understand the extent of the change and why it occurs. 8. Describe how you conduct strengths, weaknesses, opportunities and threats (SWOT) analysis 1. Decide on the purpose of your SWOT analysis. 2. Research your business, industry, and market. 3. Identify the strengths of your business. 4. Identify your business' weaknesses. 5. Identify potential opportunities for your business. 6. Identify potential threats to your business 7. Determine priorities from SWOT. 8. Develop Strategies to Solve Problems in SWOT 9. Describe at least four risk management strategies. • Risk avoidance Risk avoidance gives the Company the option to refrain from any activity. that are likely to pose a risk, or you could come up with another way to achieve the same results that do not involve the same risks. This may involve changes to your processes, equipment, or materials. • Risk reduction Businesses can reduce risks such as theft, injury, or hacking in several ways. • Risk transfer Transferring risk means transferring risk to another party, such as an insurer. The insurer is responsible for the risk and compensates if it occurs. The risk can be transferred through the contract. This often happens in construction where the builder bears any risk. related to work errors • Risk treatment Risk therapy is a better approach for small risks. The cost of insurance will be higher than the total loss incurred over time. ECA College RTO 45012 v21.0 Page 4 of 5

BSBMKG621 Develop organisational marketing strategy 10. Describe the following analysis techniques. a. strategic, b. operational and c. tactical • Strategic analysis means evaluating the work environment of an organization. The work environment generally dictates how an organization conducts its business. It helps to determine the working mood of the organization and whether the goals and objectives set by the organization can be achieved. • Operations analysis is a method for examining the current performance of investments in operations. (Or Steady state) and measure that performance against a defined set of cost, schedule, and performance parameters. • Tactical analysis is a specific set of activities consisting of the collection, processing, and appropriate use of data that leads to an understanding of the causes and effects that occur during the process. ECA College RTO 45012 v21.0 Page 5 of 5

BSBMKG621 - Assessment Task 1 - Written Questions Template v21.1-2

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