While Mplans is an American site, the plans are generic enough to apply to an Australian context. Students work should reflect an Australian context. For example, if the student is based in Sydney, then the context would be Sydney/Australia depending on the business. It could also be suburb specific depending on the business chosen. Discuss this with the student when confirming choice of Marketing Plan. Where assessors have their own stock of marketing plans, these may be used too.BSBMKG501 Assessor Marking guide V1.0 (20 September2019)Richmond School of Business | CRICOS Code: 03717E | RTO Code: 45432Page 19
BSBMKG501 Identify and evaluate marketing opportunitiesAssessor Marking GuideComplete the following activities:1.Write a marketing review report.Thoroughly review the marketing plan for the company you have chosen to ensure that you understand the business objectives, customers and current marketing strategies. Conduct research on market trends and developments relevant to the business’s products and/or services, potential new and emerging markets, competitors and any other relevant factors. Make notes on your research to share at a meeting with the marketing team. Based on your review of the marketing plan and your research, identify and assess at least three potential marketing opportunities for the company. Your assessment should focus on each opportunity’s likely contribution to the business. You should also focus on identifying entrepreneurial, innovative and creative ideas for marketing opportunities. Make notes on your ideas to share at the meeting. Write a short report summarising your review of the marketing plan and research that, as a minimum, addresses:A summary of business objectives, target customers and current marketing strategies.Outline of current market trends and developments, potential new and emerging markets, competitors and any other relevant factors. Explanation of three marketing opportunities that you have identified as being most viable, including your assessment of each of the marketing opportunities with regard to their contribution to the company. You will be required to present and discuss your report at a meeting with your marketing team. Print out a copy of your report and the marketing plan for each person who will attend the meeting.2.Send an email to the Marketing Team (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.It should introduce and summarise the contents of the attachment, and ask for the time, date and place of the meeting. Attach your marketing review report and a copy of the marketing plan to the email.Assessor: refer to the business’ marketing plan to ensure that the student has included correct and relevantinformation.