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SITXMPR007 Develop and implement marketing strategies

Assessment Task 1: Short Answer

Your task: Answer the following questions. Each question must be completed.

1. List 5 factors you must have knowledge of to develop an effective marketing strategy.

Response
1.Communication capabilities
2. Equipment capacity
3. Human resources
4. Location and position
5. Staff skills level

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2. When developing marketing strategies, you need to be aware of your business’ capabilities
and resources. What do you need to consider for each of the following aspects?

Communication capabilities - Analyse the current ability of the business to communicate with
potential and existing customers and the type of existing communication channels.

E-business capacity - Analyse the business presence online and understand if it is used
effectively.

Equipment capacity - The type of equipment available

Financial resources - The money that the business has in order to implement the marketing
strategies.

Hours of operation - Plan based on the hours of operation of the business.

Human resources - Understand if there is enough man force in the business and if the case to
outsource.

Staff skill levels - Analyse staff skills to understand if they will be able to contribute to the
development of the marketing strategy or if there is need to outsource.

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3. List 5 examples of sources of information for analysing the effectiveness of current and past
marketing campaigns.

Response
1. Industry bodies

2. Business records

3. Marketing and business advisory services

4. Peer

5. Official statistics and government agencies.

4. Explain each of the following types of comparative market information:

Benchmarking- Benchmarking is the process of comparing a company's performance to

available sets of criteria, which can reflect industry standards, best practises, or other data to
measure against. It allows you to compare your success to that of your competitors. This can
assist businesses in identifying areas where they outperform competitors and areas where
they can improve.

Best Practice Information- Best practice refers to marketing procedures or methods that are
considered within the industry to be most effective. For example, when sending out
marketing emails, it is best practice to use dedicated email marketing software to successfully
manage the process when emailing large numbers of customers

Competitor Information- Knowing about competitors will help to better cater marketing
when developing marketing strategies.
Using your competitors' shortcomings as an example will help you improve your business.

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5. Using a SWOT analysis, define what needs to be analysed for the following areas:

Identify Strengths and Weaknesses – Internal Environment

 Location in the CBD
 National brand awareness
 Excellent public image
 Program of Loyalty
Weaknesses
•There is no on-site parking.
•Advertising signs have a limited amount of space.
•reliance on artificial lighting in meeting rooms
•Inadequate customer service
•There is no website.

Identify Opportunities and Threats – External Environment

Opportunities
 Australian dollar valued at US70c
 High number of apprentices
 Abundance of skilled staff
 High market demand

Threats
 Shortage of skilled staff
 Low market demand
 Increased number of competitors
 Reduced foreign tourism

6. What is the primary tool of engagement with the world for most people? How does this
affect the marketing environment?

Response

Because of social media, the internet has become the primary tool for most people to engage
with the world.

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This has a positive impact on the marketing environment because the internet is global and
businesses have a larger marketing audience.

7. List 5 pieces of information you will need to perform a competitor analysis. Where could this
information be sourced?

Response

 Who are the competitors?

 What they are attempting to accomplish
 How they intend to achieve it
 What their advantages and disadvantages are
 What their reactions will be to your presence
 This data can be obtained indirectly via news, public relations, and the internet, or
directly via friendly competitor checks, company site visits, and mystery shoppers.

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8. Give 5 examples of information that a promotional activity report should contain.

Response
1. Date of Activity

2. Outcome of the Activity

3.Important Contact

4.the promotional activity profitable?

5. Venue / Location of Activity

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9. List the name of 2 websites which you can use as resources to identify and analyse market
growth or decline.

Response
 Google Surveys
 https://marketingplatform.google.com/about/surveys/#

10. Name 3 factors that can affect the economic environment, and affect people’s spending
habits.

Response
1. discretionary income Consumer
2. confidence levels
3. Currency exchange rates Consumer

11. Provide a description for each of the following aspects used to analyse market share:

Overall market share- Market share is the percentage of an industry's or markets total sales
earned by a specific company over a specified time period. This metric is used to get a sense
of a company's size in relation to its market and competitors.

Segment market share - A market segment is a group of people who share common
marketable characteristics in a homogeneous market. The criteria for a market segment are
that the segment's main needs are homogeneous, the segment is unique, and the segment's
members have a common reaction to marketing tactics.

Relative market share - Relative market share is helping assess how a brand's position within
the market relative to its peers. At a high level, it attempts to understand how scale
(measured in relative market share) drives profitability.

Change in market share - Market share changes have a greater impact on the performance of
companies in mature or cyclical industries with low growth.

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12. Provide 1 example of an emerging trend relevant to your sector in the Tourism, Hospitality
and Events industry:

Response
Personalised services for travellers
Personalisation has become one of the biggest trends of 2016. Hotels and CVBs are using
data to personalise their services to better suit guests. Aloft Hotels has introduced voice-
activated hotel rooms that enable guests to customise temperature and lighting, as well as
explore local attractions. Another great example is Visit Orlando’s new app, which uses
artificial intelligence and augmented reality to provide personalised dining and entertainment
experiences for visitors.

13. Name the 3 aspects of the triple bottom line sustainability concept.

Response
1.profit

2.people

3.enviroment

14. Name 4 internal issues which can impact on a business’ marketing planning.

Response
1. Human and Financial Resources

2. Location and Hours of Operation

3. Equipment Availability and Reliability

4. Staff Skill Levels

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15. Name 4 external issues which can potentially result in new business opportunities for a
Tourism, Hospitality and Events business.

Response
1. Legislative changes.

2. Domestic and International Economic Climate,

3. Shifting Supply and Demand Levels.

4. Competition increase or decrease.

16. What is the purpose of a marketing plan? How is this purpose achieved?

Response
 A Marketing Plan is a detailed description of all the steps required to achieve a
company's marketing objectives. They are part of a larger business plan and rely on
effective marketing strategies to be successful.
A Marketing Plan can be achieved by breaking down objectives into smaller, more
attainable goals, and everyone involved in the process has timelines and benchmarks
for their work.

17. Why should you involve your staff in developing marketing strategies and plans?

Response
Get your employees' input in developing your business plan. When you do so, they will clearly
understand your organization's strategy and goals. They will also become more productive.
Because they helped develop your strategy and goals, they will be more motivated to help
you achieve them

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18. Why must your marketing plan be approved before being implemented?

Response
To ensure that the marketing plan has been officially agreed by the management and the
owners and that everyone is aware of goals and objectives of the plan. Before being
approved, it has to be reviewed by upper level management and this process allows the
plan to be adjusted or altered should it be in line with the management's expectations of
where the business is going.

19. What are the 4 steps in marketing control?

Response
1. Competitor analysis.
2. Marketing objectives.
3. Performance Standards.
4. Customer feedback and cost analysis.

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20. Give 2 examples of reports you may generate to help analyse the effectiveness of marketing
campaigns.

Response
1. Sales and Marketing Report

2. Promotional Activity Report

21. List 3 aspects why marketing campaigns do need to be reviewed:

Response
1. what your competitors and peers are doing

2. Marketing can involve unexpected opportunities and hindrance.

3. Demand for your product or service or new marketing methods becoming available such as
a new social media platform.

22. What needs to happen once promotional activities have been reviewed for their success or
failure?

Response
It is necessary to check them against criteria for evaluation. Based on these criteria,
recommendations should be made that indicate a strategy addressing the criteria. These
recommendations should be constructive and specify a clear path for the future.

23. Who should be informed about updates to the marketing strategy?

Response

 Management,
 staff
 owners
 CEO
 Shareholders and stakeholders

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24. List the key aspects of a marketing plan and outline what these involve:

Response

 Price Strategy – current market position, pricing or discounting techniques, costs for
material, labor, overheads, etc
 2. Location – the location used for selling the product or service and the benefits of
this location
 3. Stakeholders – key personnel within the business who are critical to the marketing
strategy and what their roles and responsibilities are
 4. The Target Market – Such as income, age, sex, profession, etc
 5. Competitors – Demand, market share, strengths and weakness, comparisons
between your product and theirs
 6. The Product or Service – Features, benefits, and selling points
 7. Marketing Budget – Allocated costs for advertising and promotion, lists of types of
media for Advertising and costs associated with each option.

25. What is a disadvantage of direct sales distribution?

Response

Reduces distribution channel options, resulting in the loss of other distribution channels
provided by intermediaries.
Increases internal workload: When you sell directly, you take on all of the work that an
intermediary would normally do. Taking orders, processing payments, fulfilling orders,
chasing down late-paying or defaulting customers, marketing tasks, and customer service
are all part of the job.

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Direct selling can also increase your costs for delivering a product to customers. You not only
take on the workload associated with order fulfilment, but you also absorb expenses such as
order-taking staff, credit-card processing fees, postage and shipping costs, software, website
maintenance, phone charges, fleet maintenance, billing, and order tracking.

26. Name 2 methods of indirect sales distribution.

Response
1. Exclusive Distribution

2. Shotgun Distribution

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27. List 3 aspects of a business’ conduct covered by consumer law.

Response
1.pricing

2.product safety

3.advertising

28. A marketing plan should include a mission statement and a business vision. Explain what
each of these should outline.

Response
Mission - describes what a company hopes to accomplish.

Vision – describes what the business wishes to deliver and the image it wishes to portray
to the general public.

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29. What are the key principles which must be considered for ethical advertising? List 3 codes
which regulate advertising:

Response

 It is very imperative that a business maintains its ethical standards when advertising.
They should be truthful in all that they say and portray. Images and texts used in
advertising must not create a false
 Perception of the product, service, price, inclusions or other features.
 Codes that regulate advertising:
 1. AANA Code for Advertising and Marketing Communications to Children
 2. Australian Quick Service Restaurant Industry Initiative for Responsible Advertising
and Marketing to Children.
3. The Alcoholic Beverages Advertising Code

30. What is the role of Australian Consumer Law in relation to marketing?

Response

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31. What is the purpose of Copyright? How is copyright managed?

Response
Writing, music, still images, moving images, computer programmes, and recorded sounds are
all protected by copyright. Copyright protects something if it is:

1. An expression protected by the Copyright Act

2. fixed or recorded

3. The result of some skill and effort, rather than simply being copied from somewhere else

Under Australian law, there is no copyright registration system. Under the Copyright Act,
certain forms of expression, such as text, images, and music, are automatically protected by
copyright.
To achieve its goals, the copyright system treats various uses of content differently. Some
uses necessitate permission, allowing the copyright holder to dictate the terms of use. Some
uses do not necessitate authorisation or payment. Other uses do not require permission but
do necessitate fair compensation.
These include uses covered by the Copyright Agency's statutory licence for education and
statutory licence for government.

32. What impact does the Privacy Act have on business’ marketing activities?

Response

Businesses frequently collect data on their visitors in order to tailor their product and service
offerings to their clientele. When this data is gathered, it is subject to privacy laws. The
Privacy Act prohibits businesses from disclosing or using client information to third parties,
particularly for marketing purposes.

33. Outline one legal issue that has emerged with the rise of the Internet and online business.

Response
Cyber security has been increasingly a legal issue that has attributed from the rise of the
internet and online business.

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Scams.

34. Provide one example of an innovative marketing strategy used by a Tourism, Hospitality and
Events business.

Response

The internet is a modern and innovative marketing strategy. Because the Internet has no
geographical boundaries, businesses use social media, Google adwords, pay-per-click, and
relevant content publication through blogging to boost their marketing strategy efforts.

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