Marketing Mix Component Task 4

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BSBMKG502 - Establish and adjust the marketing mix

FINAL ASSESSMENT

BSB51915 Diploma of Leadership and Management

ASSESSMENT COVER SHEET

Please ensure this form is fully completed prior to submitting.

This page should be on the front of your assessment and needs to be easily accessible.

Student Number:

160108

Student Name:

Jasvir Kaur

Subject:

BSBMKG502 – Establish and Adjust the Marketing Mix

Course:

BSB51915 - Diploma of Leadership and Management

STUDENT DECLARATION

I hereby certify that:

This assessment task is my own work based on my personal study/research and not the work of another student and/or source.

I have acknowledged all material and sources used to prepare this assessment task.

I have not plagiarised or copied any part of this assessment task from the work of any other student or source either.

This assessment task has not previously been submitted.

I am aware of the requirements set by my Trainer & Assessor.

I have retained a copy of this assessment task for my own records.

I have completed all my assessments, tasks & activities (on moodle®) successfully.

Student’s Signature: _______________________________ Date: _________________

30048202946400Wentworth Institute RTO Code: 91178 November 2017 Version: 1.0

00Wentworth Institute RTO Code: 91178 November 2017 Version: 1.0

Student instructions

This assessment must be based on where you work (or have worked most recently).

This Assessment is designed to test the knowledge that you have acquired throughout the unit. Use the following tips to help you answer the questions:

Read each question carefully. Check with your trainer or assessor if you are not sure what the question is asking.

HINT: Use these questions as subheadings to create a business style report to answer your assessment

Your response to each question should aim to provide enough information to answer the question. In most cases, this can be done with just a few paragraphs. Don’t forget to refer to attachments under the heading (question) applicable, e.g. ‘See attached email’.

Important: Your assessment must contain this coversheet and your own coversheet (for your “report”)

Your answers & assessment submission must professional in style (Business), content and format. Maximum font size 11 points: Font Arial or Times New Roman; single spacing; clear paragraphs with appropriate punctuation, spellchecking and final submission will need to be proof-read. (i.e. few missing words or typo’s)

In particular:

- Use clear, non-discriminatory language

- Avoid the use of jargon

- Write clearly using plain English

- Consider your target audience

- Ensure that your responses meet the needs of the target audience (in this case your trainer or assessor).

All of your work must be original.

Performance Evidence

Evidence of the ability to:

use leadership techniques and strategies to facilitate team cohesion and work outcomes including:

encouraging and fostering shared understanding of purpose, roles and responsibilities

identifying and resolving problems

providing feedback to encourage, value and reward others

modelling desired behaviour and practices

develop policies and procedures to ensure team members take responsibility for own work and assist others to undertake required roles and responsibilities

establish processes to address issues and resolve performance issues

support team to meet expected performance outcomes including providing formal and informal learning opportunities as needed

develop performance plans with key performance indicators (KPIs), outputs and goals for individuals or the team which incorporate input from stakeholders

communicate effectively with a range of stakeholders about team performance plans and team performance

facilitate two-way flow of information between team and management relevant to team performance

evaluate and take necessary corrective action regarding unresolved issues, concerns and problems raised by internal or external stakeholders.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain how group dynamics can support or hinder team performance

outline strategies that can support team cohesion, participation and performance

explain strategies for gaining consensus

explain issue resolution strategies.

Marking and Criteria guide:

Assessor and student must read this carefully before assessment.

A 75% demonstrated competence in the answers is the benchmark only and students & assessors must note that professionally critical aspects/concepts must be included (e.g. two (2) meetings, two (2) role plays, performance action plan and written report).

All parts (criteria) in the marking guide must be completed successfully for the student to achieve competence in this unit

EDUCATOR to complete

Observation/assessment

Competent/NYC

(If resubmission required)

Competent/

NYC

Comments

Pre-assessment work completed

Assessment 1, Assessment 2, Assessment 3, Final Assessment, tasks & activities (on moodle®) successfully

Third Party Report

Third Party report Handed In (in person)

Student analised current communication strategy with customers and staff.

Student reviewed channel of distribution and described their importance.

Student analised the current marketing strategies providing existing media.

Student analised new target for new customers.

Student analised changes in the marketing mix.

Practical Checklist

Assessor to complete:(circle)

Did you observe the student? Yes No

Did the student understand the difference between self-awareness, social awareness and self-management skills?

Did the student show the ability to deal with their own emotions when working in an environment with people from different cultural background and knowledge?

Did the student create an IDP?

Further comments required

Assessor Comments

________________________________________________________________

Resubmission required? Yes_________ No___________

Date resubmission must be handed in: ________________________

Assessor’s name and signature: _______________________________

Date: _________________________

Company’s name: Patiala House Indian Restaurant

FINAL ASSESSMENT

1. What is your current communication strategy with customers? (50 words count)

The current communication strategy of Patiala House, Indian cuisine restaurant with its customers is through social media, mobile app of restaurants or video communication. The restaurant periodically provides updates about different services and promotions over these methods of communication. Moreover, direct communication with customer on their visit to the restaurant is also an effective tool which is being used by the restaurant.

2. What is your current communication strategy with staff? (50 words count)

The communication strategy is slightly different for every staff member as it depends upon the nature of the job. Although the communication strategy must be effective no matter with whom a person is communicating. As far I am concerned, I show respect and dignity in my communication with my staff. The motivating and encouragement element is always there in communication. The help and assistance are always provided to the staff members.

3. Review three (3) channels of distribution and describe their importance to marketing outcomes.

(Word count 150 words)

Direct Distribution

Importance

In the direct distribution of channels, it is set that either a firm or organisations directly deliver the service or product. Example of direct distribution is any firm which is selling its product online. Through this distribution channel, customers or clients are able to find the company directly. The image of the brand and name is also characterised by this distribution channel.

Indirect Distribution

Importance

In the indirect distribution channel, the service or product of an organisation is offered or delivered to the customers through various other channels. In this distribution channel, the manufacturer or company is set free from any kind of start-ups costs. It is much easy to handle the indirect distribution as all of the services are delivered through third parties or channels.

Intensive Distribution

Importance

In intensive distribution channels, the company or organisation has a huge marketing product. In this type of distribution, an organisation tries to cover the market as much as it can. The company or firm is holding many places in the market by numerous outlets or sales point. The consumer can have the product of a similar company in many places (Alon et al., 2016, pp. 499-537).

4. What are the current marketing strategies for your existing customers? (Name at least five (5) marketing strategies).

The Patiala House is following many current strategies for its current customers. Few of them are given below,

Social Paying.

Gets Website marketing.

Reach out to famous influencers and Bloggers

Email marketing

Social Media Marketing

5. Provide summaries of existing advertising and media. For example letterbox drop. List at least four (4) advertising strategies.

Social Media Advertising

The presence in Social Media is nowadays crucial for every business. Through social media updates, the restaurant is updating and continuing the marketing process. The update on the menu, sitting and new items are updated on social media.

Monthly email

The restaurant is sending a monthly email to its customers who often visit the restaurant. This help customer to get aware of the promotions and discount offers as well as an addition in the menu.

Update on Menu

The restaurant has kept the menu up to date and following a strategy to introduce interesting items on its menu card in order to attract the customer again and again.

Discounts and Offers

The restaurant introduces different offers and discounts periodically or on special events to attract customers.

6. Provide summaries of existing online marketing websites. For example Facebook, Instagram and YouTube. How would you them to promote your business or product? (Word count: 100)

The online marketing websites like Facebook, YouTube and Instagram are the most effective tools for online marketing. The presence on accounts helps a lot in attracting customers. These online social networking sites are used by millions of people. Moreover, in the modern world, people are now more used to find places and their reviews, rather than watching TV commercials or promotional ads. A good social place that might be a page or group of the restaurant would surely help the restaurant in increasing its sales and revenues by attracting a variety of customers from different regions. The online marketing websites might play a vital role in the success of the restaurant (Gurau, 2008, pp. 169-184).

7. Define six (6) market segment profiles for your workplace (e.g. age, income, gender, interests, geographic location etc.). (min 6 market segments)

Age: The restaurant is open for different age group, children, and young adults.

Income: The restaurant is serving the people having middle income to high income.

Gender: The restaurant is providing its services to everyone regardless of their gender.

Interests: Market research conducts research on the interest of the customers and menu is set according to the market interests.

Region: The restaurant is open for all regions, but obviously it is a treat for people who live nearby or a few miles away from the restaurant.

Growth rate: The restaurant growth rate is encouraging as it is facilitating more and more customers every day.

8. In your workplace what is your new target market for new customers? (6 demographics must be different from above)

Size of Segment

Loyalty status of customer

Behaviour rate

Values

Personality/Customer Type

Cuisine

9. In your own opinion, select one (1) change that needs to be made to your organisations marketing mix? For example, choose one (1) demographic that needs to be changed in your organisation.

Region

I personally believe that there should be more branches of a restaurant in a different region. In this way, the restaurant will have more customers and would cover the market area more than usual. This would also affect the market share and size as an increase in the number of restaurant in a different region would surely increase the market share and size of the restaurant.

10. Analyse and describe the adjustment you will make to your Marketing strategy (marketing mix). (Word count: 200 words)

The 4p's of the marketing strategy needs to be adjusted more. These marketing mixes are a product, price, place and promotion. There should be more variety of goods and service. The product of the restaurant already consists of a large variety of diverse menu, but the eating behaviour and mood of the customer are always changing and largely depend upon the behavioural elements. These services might be extended for example the service of dining in and take away facility can be extended to the home delivery service. Price is one of the important element is business. The price of the menu is set after the market research. There is always need to set a competitive price. The price of the products of the restaurants are neither very low that makes the quality of the items ambiguous, nor too high that makes the item out of reach from different customers. The place includes where the service is available to the customers, and it should be extended. The place extension would positively affect the market share and size. The increase in promotional activities would result in a greater number of customers to the restaurants. Different offers and services are used to appeal and attract the customers and clients.

10. List the resources and the costs that your organisation will require to procure (obtain) to adjust their marketing mix. (Min 8 entries… don't forget HR costs, i.e. wages)

Resources

Description

Budget (Costs)

Printing of promotional pamphlets

3000 A4 full-colour brochures; full gloss; 150 GSM from Office works (Wynyard) for handouts

$ 660.50

Human Resource

The wages of the employees.

30 per cent of the total budget

Unique Cutlery

500 sets

$ 1000.00

Cooking Range

Five sets

$ 350.75

Waiters

Ten plus

$ 500 per waiter per month

Refrigerators

$ 150 per piece

Safety Equipment

Might include fire alarms and other safety equipment

$ 200 per set

Renovation and dinning

Decoration, change in sitting

$ 1000

11. Analyse the impact and importance of the promotional methods used by your workplace to achieve market outcomes. (Word count: 200 words)

The promotional and advertising strategies play a key role in the establishment and success of the business. As far as the business of the restaurant is concerned, the promotional and advertisement tactics have a huge impact on the restaurant. Different promotional campaigns on social media, press and in TV commercial attracts a greater number of consumers and customer to the restaurant. The attracted menu items with wonderful deals and mouthwatering pictures on billboards fascinated the viewers. The customers are likely to get attracted by these promotional advertisements. The role of social media is very important. The restaurant is holding a place in the social media forum. As in the modern world, everyone is online, and everyone is having a social media account on different platforms. These platforms might include twitter, Facebook, Instagram etc. Our restaurant is more focused on digital marketing using these social sites. These are the most effective tools for marketing purposes. There are millions of users on these social networking sites. Whenever a restaurant post about any promotional deals or any discount offer a lot of people gets fascinated by the deals. They are likely to visit the restaurant and results in increase sales and greater revenue generation. People also look for promotional deals on special occasions or events.

12. How can you determine if your adjusted marketing mix was a success or not? Including your source/s for measuring success and/or failure (sources can be in the form of questionnaires, surveys or any other evaluation methodology)

The adjusted Marketing Mix can be determined by;

The online survey about the restaurants.

The comparison between profits and expenses.

Market survey

Questionnaire

Interviewing customers

13. Who would you need to communicate with regarding the progress and outcome of adjusting the marketing mix in your workplace? Name three (3) People and their Job Title & Role.

Name

Title

Role

Rajish Kumar

Business Analyst

Finding the solution of problems and training the workers

Benji

Marketing Manager

Develop marketing campaigns

David James

Manager Operations

Manages the operations and look after cuisine and cutlery