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LA019777, Assessment 1, BSBMKG502 Ed 1 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 BSBMKG502: Establish and adjust the marketing mix Assessment 1 What you have to do This assessment requires you to assume you are working as a marketing consultant for the fictitious scenario company (“Aussie Toy Co. Ltd.”) provided. Your role is to research the market, select a product, describe the target market and suggested positioning. Read the detailed requirements of the tasks and use the template provided Appendix 1 to complete Task 1, 2, 3 and 4. This assessment does not require you to provide definitions or descriptions of marketing terms. You can make reasonable assumptions based on the information provided in the scenario company. Assessment Tasks Overview Refer to page 2 for more detailed requirements for each task. This is a summary of the tasks. Complete the following four (4) tasks: Task 1 Research the market, provide a situation analysis, select a product for the scenario company to market. Task 2 Outline SMART objectives for the product. Task 3 Describe the target market and recommend a positioning. Task 4 Recommend customer service strategies. Refer to the Appendix document, and assessment checklist and marking criteria on the last page for additional guidelines for completing this assessment. Resources To complete this assessment refer to the following OLS resources: • Appendix tables attached to this assessment • IBIS Toy market data reports • OTEN Teacher advice tutorial • Key marketing terminology • Learning resources topics 2 LA019777, Assessment 1, BSBMKG502 Ed 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Scenario The Aussie Toy Company Ltd The Aussie Toy Company Ltd. has been established for ten (10) years and is one of the leading toy distributors in the Australian Toy market. The company also operates several retail stores in NSW selling toys and games, both traditional and video/digital online games. They have a large team of merchandisers and sales representatives in each state servicing, in NSW, their own retail outlets and in the other states department chains such as K-Mart, Target, Big W, Myers and specialist toy stores. Aussie Toy’s mission is “To grow through excellence in the supply of toy products in a socially responsible manner, which maximises the wealth of shareholders and customer satisfaction in the industry”. The focus of this statement is on long-term growth rather than short term profitability. To achieve this growth, initially they are wanting to focus their future marketing activities on one specific target market and a toy. As a newly-appointed marketing consultant for The Aussie Toy Company Ltd. for the national market, your role requires you to conduct a comprehensive and an objective review of the market and the marketing activities. You are required to segment the toy market, select a target market and position a product for The Aussie Toy Company Ltd to market in the Australian Toy market. Your role is to describe the marketing mix for this product based on how it’s positioning and recommend any adjustments to each component of the marketing mix required. Task 1 a) Conduct a situation analysis (internal analysis and external analysis). A situation analysis will include: i. An overview of the scenario company, discuss internal factors that may affect the company’s ability to meet the customers’ need. General assumptions can be made based on provided scenario. ii. An overview of the market the company operates in. Include market data of the size of the market, describe any growth or decline trends in the market. iii. A PESTEL analysis on the external environmental factors that may have impact on the company in the future. (PESTEL represents political, economic, social, technological, environmental and legislative factors). A PESTEL table is provided in the appendix. b) Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) for the company. A SWOT table is provided in the appendix. c) Based on your visit to a toy store, (either physical store or online store), outline any five categories of the Australian toy market. List the three key brands in each category. d) Outline the consumers’ needs and motives for each category that influence consumer purchase decision making. e) Select one (1) toy product that sits within 1 category for the Aussie Toy Company to market in Australia. Answer the following questions: i. What is the name of this toy product? ii. Describe the toy products key features? What makes it unique to other products in its category? Task 2 Refer to the toy product that you described in Task 1 and address the following. Outline two possible marketing objectives for this product, using the SMART principle. Consider one objective that includes financial metrics and the other that includes marketing metrics. (Hint: you are allowed to set the figures for this business to meet SMART principle). LA019777, Assessment 1, BSBMKG502 Ed 1 3 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 3 a) Target market Describe the target market for the selected product, using the market segmentation variables: (Note: All variables must be used to describe the target market). • Demographic • Geographic • Psychographic • Behavioural attributes/desired benefits b) Positioning • Describe the key benefits of this product for the above target market • Develop a positioning strategy of this product versus its competitor products. Task 4 Customer service strategies Outline customer service strategies that The Aussie Toy Company could introduce or implement. Make sure these customer service strategies are in line with the recommended product positioning, the marketing mix, the resources and capabilities of the company. 4 LA019777, Assessment 1, BSBMKG502 Ed 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Checklist I have: • Created the assessment as a Word document (or similar software) and used the provided templates • Used clear, direct legible English constructed into sentences • Used 12 point font size and business report style font (e.g. calibri, times new roman etc.). • Inserted page numbering • Reviewed, proof read and spell checked my document • Ensured each task has been answered and included citation within the body of the text (if secondary sources of information have been used) • Included a bibliography and or reference list • Included my name, student number, unit number, assessment number • Saved a copy on my own computer. Once you have submitted your assessment onto the OLS, wait for feedback on assessment 1 from your teacher/assessor before commencing assessment two LA019777, Assessment 1, BSBMKG502 Ed 1 5 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Appendix 1 Marketing Report Template Task 1 Situation analysis Generally this is captured in 1 page – it is providing an introduction of the company and an overview of market it operates in SPECIFIC FACTOR ANALYSIS – provide a description Overview of the company Describe the toy market in Australia Distribution channel options Key competitors/retailers in the market Key trends that have an impact on new toys 6 LA019777, Assessment 1, BSBMKG502 Ed 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 1 (continued) Market Analysis Australian Toy market Sales Revenue ($) Annual Growth of market (% List the source of your information – for example URL address and date accessed or IBIS World Report and date printed. Toy and Game Retailing in Australia Leading retailer of toys Describe any growth, trends or declines in the market. Report on particularly successful marketing mix activities that have been developed in the market for specific toy products or services. Such as: • Customer service levels • Product distribution/channels • Product or service pricing • Product or service promotion • Any new products or services into market LA019777, Assessment 1, BSBMKG502 Ed 1 7 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 1 (continued) PESTEL PESTEL Factor Describe current or anticipated future developments Analysis (discuss changes and impact) - Consider how this may affect the marketing mix components Impact + or - Political Economic Social - trends Technology Environmental Legislative 8 LA019777, Assessment 1, BSBMKG502 Ed 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 1 (continued) SWOT Analysis Internal Strengths Weaknesses External Opportunities Threats LA019777, Assessment 1, BSBMKG502 Ed 1 9 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 1 (continued) Australian Toy Market Categories List any 5 categories in the Australian Toy Market 1. 2. 3. 4. 5. Type of products in category List key brands in each category Needs and motives influencing end consumers Name 1 toy product Describe the toy product key features 10 LA019777, Assessment 1, BSBMKG502 Ed 1 © New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 4, May 2018 Task 2 SMART Objectives (one with financial metrics, one with marketing metrics) 1. 2. LA019777, Assessment 1, BSBMKG502 Ed 1 11 © New South Wales Technical and