Evaluate marketing opportunities
The candidate will demonstrate skills and knowledge required to investigate marketing opportunities and evaluate required changes to current operations.
In response to the simulated business scenario, you will evaluate three marketing opportunities that have been identified for you, rank them in terms of viability and likely contribution to the business, and assess the impact of the top-ranked opportunity on operations.
You will then prepare a report for a board of directors documenting identified marketing opportunities.
Page numbers in BLUE denote the appropriate section of the Student Workbook which you should refer to when necessary. Page numbers in RED denote the appropriate section of the case study which you should refer to when necessary.
In Assessment Task 1, each member of the marketing team (including you) presented potential marketing opportunities to the Marketing Manager, Sam Lee. He has chosen three separate marketing opportunities to further evaluate and rank before choosing one to proceed with. These three are
The first opportunity is to manufacture and retail own-branded barbecues and products. Manufacture would take place at a leased plant in India as BBQfun has no manufacturing capability. Also, manufacture in Australia would be too expensive.
The second opportunity is to make all products available in an online store. Existing warehouses would be reconfigured to store the extra stock. Customers would be required to cover extra delivery costs.
The third opportunity is to aim to increase market share by cutting the cost of products and aiming at mass appeal. BBQfun would focus on selling lower priced products while eliminating the higher cost (differentiated and higher quality) products from the product line.
Sam Lee has asked you to evaluate the three opportunities based on a variety of different factors, determine the financial viability of each opportunity, and then rank them.The first step is to consider if these are appropriate marketing opportunities that BBQfun should be looking to implement. Analyse each opportunity in terms of fit with organisational goals and capabilities (pages 44 – 52).
BBQfun’s marketing research found the following market needs and trends:
The market trend for outdoor lifestyle stores is headed toward a more sophisticated and informed customer. Outdoor lifestyles customers are becoming more sophisticated in a number of different ways:
Based on this research, analyse each opportunity to determine likely impact on current business and customer base.
Outline any risks associated with the marketing opportunity (page 76). You may wish to consider
pages 11 – 12.
Analyse the role of competitors in relation to each opportunity (page 15).
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