about 500-600 words , 4 paragraphs, presentation paper.
this presentation carries over from Assessment 2 (brief and assessment will be uploaded)
– First paragraph: try to adjust at least two marketing mixes and explain how it increases customer demand and improves product image. You must give justifications. E.g. how and why?
– Second paragraph: Assume that the following table is the satisfaction rating results from your price and product BEFORE adjusting the mix. Explain what the tables of results mean if put in percentages. (see Additional Resources page 10) Explain what the combined results mean. Adjust components of the marketing mix in response to test results, ensuring that the final mix improves sales performance. (1=very dissatisfied, 2=dissatisfied, 3=neutral, 4=satisfied,
5=very satisfied)(this table will be uploaded in brief)
-third paragraph: Give two methods of how you can ensure that all marketing activities do not go outside of
the company’s budgetary requirements.
last paragraph: Give one method to explain how you can ensure that all marketing mixes meets organisational, strategic, marketing objectives and desired positioning.
BSBMKG502B
ESTABLISH AND ADJUST THE MARKETING MIX
ASSESSMENT 2
STUDENT: JIE CHEN
DATE:09/04/2015
Diesel Marketing Mix
1. Environmental Factors
Impact on Marketing Mix Macro-environmental Factor’s Name Micro-environmental Factor’s Name
Buy the company’s products at set prices thus helping them to achieve their company goals and objectives by supporting the lifestyle brand of the company
Customers’ support
–
Ensures that customers understand the value and substance of the products and the pricing. It also promotes sharing of information between senior and junior employees thus making it easier to address issues that affect the company
Dedicated employees
Ensures that high quality products are produced and distributed to the market. This makes it easier for the customers to purchase products at set prices because they understand the premium quality of the products
Advanced production methods
Helps in distributing the products and establishing relations with customers on behalf of the company. Based on the company’s customer base, it can only serve all the customers through partners. Thus partners are the representatives of the company
Partners
–
0.
The Trade Practices ACT and ADMA governs the company’s product by ensuring that the product meets the minimum standards in regards to quality; acceptable marketing methods and practices are applied when promoting the product; pricing guidelines are followed when setting prices for the products and that customers’ rights are protected.
2. Consumer Needs
Impact on Marketing Mix Consumer’s Needs on Maslow’s hierarchy Consumer’s priorities and preferences
Enables the company to realize profits by selling products at premium prices
–
Premium prices
Makes the company to use advanced methods to manufacture high quality products that satisfy customers
–
High quality products
Gives the company to promote its lifestyle motto and work with like-minded people
–
Unique products
The company offers quality products and services to like-minded people who want to raise their esteem through the products they wear and use Esteem: self-esteem, recognition, confidence, status and prestige
–
Helps the company to work with employees and customers who support their motto of “Be Stupid” Self-actualization: self-fulfillment and peace
–
0.
3. Organizational Objectives
Defined Product Price Promotion Place People
Marketing Objectives The achievements anticipated by Diesel from its marketing strategies To make people understand that Diesel is a lifestyle and not just a product To ensure that the price is set based on the quality of the product being offered Engaging their customers by using above-the-line and below-the-line methods To ensure that the products reach their customers easily and in a more enjoyable way To ensure that employees understand the company’s products and objectives
Target Markets This comprises of groups of people that Diesel targets as potential customers By selling jeans and other clothing items that promote a unique lifestyle People who are ready to pay a premium price for premium jeans Engaging with their customers Using different distribution channels and partners to supply their products To engage both senior and junior employees of the company at the same level
Product Positioning The position where Diesel wants its products to be in terms of customer preference and market share To make the product a lifestyle for like-minded people Using its product quality to set prices Creating a two-way dialogue with customers so as to understand their needs better Strong culture and varied distribution channels that make the products easily accessible everywhere Using committed employees to promote the company’s products
Organizational Strategic Objectives The various approaches the company is using to achieve its goals and objectives To ensure that its products represent a lifestyle To ensure that the price reflects the value and substance of the product and customer experience Using both above-the-line and below-the-line methods to promote their products and reach all customers To create strong partnerships that will help the company to reach millions of customers Inspiring like-minded people to work for them and represent the company to customers
4. Relevant Legislations
a. Anti-discrimination legislation and the principles of equal opportunity, equity and diversity
This helps in establishing a neutral platform where businesses can compete with others equally irrespective of their size, capital size, market share, type of product, etc. Therefore there is no particular business that is favored over the others. Examples include: legislation of equal access to markets, permission to market products on all available marketing platforms, permission to start a business in any field provided all requirements are fulfilled, etc.
b. Ethical principles
This ensures that there is a common code of practice across all businesses. It means that business stakeholders adhere to the codes of ethics and action would be taken on any business that violates the principles. Examples include: rights of employees, hiring and firing procedures, job contracts, employer-employee relationships, etc.
c. Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice
This ensures that businesses market their products by observing all the guidelines of direct marketing code of practice. It ensures transparency and equality in marketing practices without favoring any business. Examples include: type of marketing language to be used, authorities to consult with before distributing marketing content, lawful images to be used, etc.
d. Free TV Australia Commercial Television Industry Code of Practice
It ensures that businesses do not misuse this medium of marketing and that each business has equal rights to use the
e. Privacy Laws
These laws enable the businesses to only share information they are willing to share and keep some information confidential and accessed by only a few members. Examples include: the people to share with financial reports, the budget spent by the business on marketing, how to share employees’ personal information with third parties, etc.
Works Cited
Steven Bradley. Designing for Hierarchy of Needs. Smashing Magazine, April 26, 2010. Web. June 22, 2015
The Times 100. Diesel: Live, Breathe and Wear Passion. Business Case Studies: Edition 15, 2010.
ASSESSMENT 3: Adjusting the Marketing Mix – Oral Presentation (Due in Week 5)
Submission details
This Assessment Task is due in WEEK 5. Any variations to this arrangement must be approved in writing by your assessor. As this assessment task requires your trainer to view and evaluate your communication and presentation skills, you can make an appointment with your trainer for a distance demonstration through telephone. Once you complete, please submit the PowerPoint slides of your presentation to assessment upload page.
Format: Times New Roman, 12pts.
Performance objective
You must demonstrate the ability, knowledge and skills to evaluate each component of the marketing mix and determine a suitable marketing mix for specific markets, as well as monitor and adjust the marketing mix.
Assessment description
Assessment 3 carries over from Assessment 2, and is designed to challenge you to justify any adjustments to the marketing mix that will result in a more sustainable market position and returns for the chosen product or service.
Instructions
Prepare an oral presentation of 5-7 minutes. The presentation must include the following information described in the specifications section. PowerPoint slides may be used.
Specifications
1. Now try to adjust at least two marketing mixes and explain how it increases customer demand and improves product image. You must give justifications. E.g. how and why?
2. Assume that the following table is the satisfaction rating results from your price and product BEFORE adjusting the mix. Explain what the tables of results mean if put in percentages. (see Additional Resources page 10) Explain what the combined results mean. Adjust components of the marketing mix in response to test results, ensuring that the final mix improves sales performance. (1=very dissatisfied, 2=dissatisfied, 3=neutral, 4=satisfied,
5=very satisfied)
Table 1 – Price Satisfaction Testing Results
2 2 1 2 4
3 2 2 2 2
3 4 1 2 3
Table 2 – Product Usage Satisfaction Testing Results
5 5 5 4 4
4 3 3 5 5
5 4 5 3 5
3. Give two methods of how you can ensure that all marketing activities do not go outside of
the company’s budgetary requirements.
4. Give one method to explain how you can ensure that all marketing mixes meets organisational, strategic, marketing objectives and desired positioning.
Presentation marking criteria
Your presentation will be marked by the below criteria. Please double check your presentation following them.
CRITERIA Competent/
Not Competent Comments
SPEECH
1. tonality and variation
2. fluency
3. clarity
4. use of pause
MATERIALS and CONTENT
1. handouts/Powerpoints
– simple to read
– attractive/interesting?
– easy to understand
2. content interesting?
STRUCTURE and FLOW
1. structure
2. logical flow
Place this order with us and get 18% discount now! to earn your discount enter this code: special18 If you need assistance chat with us now by clicking the live chat button.