Image_10-3-20,-2-52-pm - M MEGA Assessment Task 2 Description This summative assessment task is given as a group project to be undertaken by a group of

Image_10-3-20,-2-52-pm - M MEGA Assessment Task 2...

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Unformatted text preview: M MEGA Assessment Task 2 Description: This summative assessment task is given as a group project to be undertaken by a group of maximum four learners. Ideally, the groups should be formed at the beginning of the academic term to allow for group development and interaction. Groups must delegate tasks and define roles and responsibilities among the members. Evaluation of marketing performance integrates and aligns marketing activities, strategies, and metrics with business goals. Marketing performance management involves creation and use of a range of matrices (or KPis) (depending on the marketing activity undertaken) to monitor the marketing performance and then using a manual or electronic dashboard style system to manage the performance. Marketing performance management typically incorporates the following elements; 1. Data collection and analysis 2. Development and use of marketing matrices, including KPIs 3. Marketing dashboard Some popular matrices include market share, customer value, new product adoption, rate of customer acquisition, average order value, rate of new product and service adoptions, growth in customer buying frequency, volume and share of business, rate of growth compared to competition and the market, margin, and customer engagement. You will need to determine which matrices will be relevant to your plan based on the marketing/business outcomes perceived, The dashboard is typically a single-screen or single-page illustrated/graphical view of metrics and KPIs data, similar to a car dashboard, Dashboard collates all data and metrics and presents them as useful information for the organisation. Dashboard could be a simple linked and formatted Excel file that collates and processes all the required information. There are also software applications such as Klipfolio available for deployment. The group will select one of the actions plans along with the sample marketing plan used in Assessment Taskz develop a concise marketing performance management plan that includes; Market/company brief or introduction Marketing objectives Marketing strategies Key stakeholders Matrices or KPIs to evaluate promotional activities. Matrices or KPIs to evaluate price impact and average order value . . Matrices or KPIs to evaluate market share Matrices or KPIs to evaluate margin and profitability Matrices or KPIs to evaluate customer engagement Matrices or KPIs to evaluate returns per marketing activity Matrices or KPIs to evaluate rate of new product and service adoptions Matrices or KPIs to evaluate product availability and distribution Matrices or KPIs to evaluate rate of growth compared to competition Source of data (e.g. market and customer feedback) and data collection methods Data analysis and reporting methods and protocols Continuous improvement strategy and activities The group will need to research and provide samples of matrices that are recommended for monitoring and management of marketing activities. As part of assessment criteria for this task, equal and active participation from all groups will be required. Each group will need to submit a group statement, signed by all group members, outlining their respective role and contribution in the project. Any problems or non-contribution from ant group members should be reported to the trainer/assessor at the earliest. BSB52415 | BSBMKG514 Implement and Monitor Marketing Activities Assessment Pack | V4.0 | Jan 2019 Page 13 Macquarie Education Group Australia Pty Ltd t/a Macquarie Institute | RTO Code 91305 | CRICOS Code 02657J Approved by: QAC | Next Review: Dec 2019...
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  • Winter '19
  • Marketing, Macquarie Education Group Australia Pty Ltd, Assessment Taskz

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