BSBMKG501B - Identify and Evaluate Marketing Opportunities
SIRT004B
Overview
Level of study: What does Vocational Education, Training mean?
Vocational Education, Training
EFTSL: What does EFTSL mean?
0.125
Delivery Method: What does delivery method mean?
Fully Online
Prerequisites: What are the prerequisites?
Duration:
13 weeks
Government loans available:
NoneDomestic student fee:
$700.00 (AUD)
International student fee:
$925.00 (AUD)
Description
This unit describes the performance outcomes, skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing the characteristics of possible markets and assessing the viability of changes to operations.
Prerequisites
Mandatory prerequisites
You must have successfully completed the following unit(s) before starting this unit:
- SIRT009A — SIRXCOM001A - Communicate in the Workplace
- SIRT010A — SIRXIND001A - Work Effectively in a Retail Environment
- SIRT011A — SIRXSLS004A - Build Relationships with Customers
If you have completed equivalent study at another university, please contact a Student Advisor for advice.
Learning Outcomes
At the end of this unit students will be able to:
- identify marketing opportunities
- investigate marketing opportunities
- evaluate required changes to current operations.
Topics
This unit addresses the following topics.
| Number | Topic |
|---|---|
| 1 | Analyse information on market and business needs to identify marketing opportunities |
| 2 | Research potential new markets and assess opportunities to enter, shape or influence the market in terms of likely contribution to the business |
| 3 | Explore entrepreneurial, innovative approaches and creative ideas for their potential business application |
| 4 | Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities |
| 5 | Evaluate each opportunity to determine its impact on current business and customer base |
| 6 | Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity |
| 7 | Determine probable return on investment and potential competitors |
| 8 | Describe and rank marketing opportunities in terms of their viability and likely contribution to the business |
| 9 | Identify and document changes needed to current operations to take advantage of viable marketing opportunities |
| 10 | Ensure organisational changes to service an increased or different customer base include provision for continued quality of service |
| 11 | Estimate resource requirements for changed operations |
| 12 | Determine and communicate viability of making changes to current operations to key stakeholders |
| 13 | Document newly identified marketing opportunities and required changes |
