BSBWOR301 & BSBCMM401 Assessment 2

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BSBWOR301 & BSBCMM401 Assessment 2

BSBWOR301 Organise Personal Work Priorities and Development & BSBCMM401 Make a Presentation

Assessment 2

Develop a Work Plan

Part A:

Introduction/background

TinyToys is a toy company with a difference. They do not just sell normal toys but specialise in “miniature” toys that are replicas of famous toys and cartoon characters. The company markets them as safe toys for 1-5-year-old. However, there has also been an uptake from older children. The company has only been operating for last one and a half year and has met with a considerable success.

Purpose

the company wants to expand its markets to other states and promote their products nationally

Aims and objectives (SMART objectives)

  • Increase sales by 20%
  • Develop a new product
  • Attract 20% new customers
  • Resources required

    Financial Resources

    Financial resources concern the ability of the business to “finance” its chosen strategy. 

    Human Resources

    The heart of the issue with Human Resources is the skills-base of the business.

    Physical Resources

    The category of physical resources covers wide range of operational resources concerned with the physical capability to deliver a strategy

    Constraints/concerns/issues or notes

    Money

    Financial constraints are present in all aspects of business and are often the primary determining factor behind what type of marketing your company can create and distribute. Financial constraints can take the form of a limited marketing budget, falling sales, increased tax rates or anything else that limits the revenue that a business has to spend.

    Reach

    BSBWOR301 & BSBCMM401 Assessment 2
    Last updated: Jul 2022

    Page 1

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    Marketing of all kinds has an inherent limit to the reach it can offer a brand.

    Time

    The element of time is an immovable constraint on marketing efforts. The time is takes to create a new campaign can determine what type of initiative you run. 

    Strategy (how will you achieve your objectives) and overcoming the constraints/concerns

    Step 1: business objectives

    Define the business objectives and direction which the sales and marketing strategies are supporting. Ensure clarity and understanding. 

    Step 2: target market

    Broad customer segmentation completed, including demographic profiles, purchasing behaviour, needs and value. 

    Step 3: definition of solution

    Define the solution offered to and desired by customer segments, and range of services that should be offered. 

    Step 4: strategic position

    Against the key brand values and desired outcomes by customers (for example: price, speedy turnaround, high quality), define the position that the company should occupy within the marketplace. Perform a Competitor Overview, comparing relative key strengths and weaknesses to identify opportunities.

    Monitoring and reporting – issues affecting quality of work and presentation

    There are many simple ways that you can assess which types of advertising generate the best results for your business. You can:

  • ask your customers how they found out about your business
  • motivate customers to mention/bring in an advertisement for a discount
  • use a separate phone number or email address for specific advertisements to track the response
  • monitor the enquiries from customers just after a new advertisement is published – for example, you might advertise a new product on the radio on Friday and find that you have an increase in customers the next day
  • capture customer postcode information to determine the best locations for advertising.
  • Action plan (step-by-step actions)

    Part B:

    Task list with prioritisation

    ...

    BSBWOR301 & BSBCMM401 Assessment 2
    Last updated: Jul 2022

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