HI6006 Competitive Strategy Editing Service
Delivery in day(s): 4
BSB61015 Advanced Diploma of Leadership and Management
Introduction
This Assessment Booklet provides you with information and your assessment tasks for this unit. A requirement of your qualification, from which the unit of competence is taken, is the application of the concepts you have been learning.
Please read this section carefully before commencing the assessment tasks.
Recognition of Prior Learning
If you can demonstrate that you have the skills and knowledge within this unit, you should speak to a trainer/assessor about this and apply for recognition of prior learning.
Completing Your Assessment
Prior to Assessment
You must be advised of your rights before and after the assessments including the right to appeal.
Assessors must provide you with all relevant information relating to the assessments prior to commencement and of the appeals procedure that can be utilised if you wish to appeal against the assessment outcome or make a complaint.
Submitting Assessments
Each part of this assessment booklet needs to be carefully completed and you are required to attain a ‘satisfactory’ mark for each of the assessment activities. Full details of what is required have been detailed in instructions before each assessment task.
You must submit leader and management assessment tasks with the cover sheet provided at the end of this Booklet. You must attach one cover sheet per assessment upon submission, ticking the relevant assessment box. Ensure you sign the form after completion.
Assessments should be submitted on or before their due date. Extensions for individual assessment tasks may be negotiated in specific circumstances. Consultation on this must occur prior to the due date and extensions due to illness will require a medical certificate. Extensions will be confirmed to you in writing.
Plagiarism and Referencing
You are reminded that plagiarism will not be tolerated. Information, ideas etc. quoted or paraphrased from another source, must be acknowledged with “quotation marks” around the relevant words/sentences or ideas and cited at the end of the document. Sources of information, ideas etc. must be provided in alphabetical order by author’s surname (including author’s full name, name of document/ book/internet etc. and year and place of publishing) or may be included in brackets in the text.
Assessment outcomes
The evidence you submit will be assessed and you will be given written feedback. Each assessment task will be marked as either Satisfactory or Unsatisfactory and once all assessments have been marked you will be given an outcome of Competent or Not Competent for the unit of competence. Upon demonstrating competence, you will be awarded this unit. If you are assessed as Not Competent, you will be given some suggestions for improvement and asked to redo your assessment.
Re-assessment
In the event you are deemed Unsatisfactory, you will be allowed two (2) further attempts at an assessment within the timeframe of this course.
As part of the assessment process, you must abide by any relevant assessment policies as provided to you. If you feel you are not yet ready to be assessed or this assessment is unfair, you should be offered the opportunity to discuss all options that are available to you to complete the assessment.
Reasonable Adjustment
RTOs and Trainers/Assessors are obliged by law to make reasonable adjustment to ensure maximum participation of students with disability in teaching, learning and assessment activities. This includes:
1. ensuring that course activities are sufficiently flexible;
2. providing additional support where necessary; and
3. offering a reasonable substitute within the context of the course where a student cannot participate.
A reasonable adjustment is defined in section 4(1) of the Employment and the Disability Discrimination Act as ‘an adjustment to be made by a person is a reasonable adjustment unless making the adjustment would impose an unjustifiable hardship on the person’. Reasonable adjustment as it applies to participation in learning and assessment activities may include:
1. customising resources or activities within a training package or accredited course;
2. modifying a presentation medium;
3. providing additional support;
4. providing assistive or adaptive technologies;
5. making additional information accessible both before enrolment and during the course; and
6. monitoring these adjustments to ensure that the student’s needs continue to be met.
An individual’s access to the assessment process should not be adversely affected by restrictions placed on the location or context of assessment beyond the requirements specified in the training package. Reasonable adjustments can be made to ensure equity in assessment for people with disabilities. Adjustments include any changes to the assessment process or context that meet the individual needs of the person with a disability, but do not change competency outcomes.
The assessment process must:
1. Provide for valid, reliable, flexible and fair assessment
2. Provide for judgement to be made on the basis of sufficient evidence
3. Offer valid, authentic and current evidence.
Competency assessment
Within this qualification are units of competency that form the basis of your assessments. These can be located in your Unit Outline Booklet.
Assessments FOR THIS UNIT
There are three (3) forms of assessment or evidence gathering methods for this unit of competency. You are required to complete and submit all the assessments.
Assessment 1. Activities
This assessment consists of fifteen (15)activities to assess your knowledge of this unit. You must answer all questions. Most questions require short answers although some questions require a more detailed response. You should provide typed responses. You may use various sources of information including textbooks, learning workbooks, other documents and the internet and must list your sources.
Assessment 2. Skills & Knowledge Activity
This assessment provides the student with an opportunity to demonstrate their knowledge of the foundation skills, knowledge evidence and performance evidence of this unit. The student will be required to respond to five (5) questions relating to organizationalstructure, products and services and overall strategic and marketing objectives, common marketing opportunity options, strategies, and approaches, processes to ensure marketing strategies, approaches and marketing mix align to organisation’s objectives and are legal, ethical and achievable and legislative and regulatory context of the organisation as relevant to the marketing plan.
Students must record their answers in a separate A4 document and submit by attaching to their cover page.
Assessment 3. Major Activity
This assessment is a major activity which consists of three (3) short answer questions to assess the student’s knowledge of this unit.
Assessment 1: Activities
This assessment consists of fifteen (15) activities to assess the student’s knowledge of this unit.
Instructions for Students
Students must answer all questions. Most questions require short answers although some questions require a more detailed response. Students may use various sources of information including textbooks, learning workbooks, other documents and the internet and they must list their sources.
ACTIVITY | |
1A | What are your mainorganisationalobjectives? Ans: Organizational objectives are short-term and medium-term goals that an organization seeks to accomplish. An organization's objectives will play a large part in developing organizational policies and determining the allocation of organizational resources. Give an example of a marketing opportunity related to your organisation. Ans: It’s important to keep in mind that your business can’t be all things to all people. No matter how broad you consider the appeal of your product or service, not everyone will be interested in it. That’s why you should be able to identify the appropriate niche for your business—your “sweet spot.” In others words, who is your ideal customer? Defining your niche helps you establish what your real market opportunity is, and will prevent you from making costly mistakes. How can you evaluate the risks and returns of a marketing option e.g. product design and packaging or distribution? Ans: With the increased importance placed on self-service marketing, the role of packaging is becoming quite significant. For example, in a typical supermarket a shopper passes about 600 items per minute, or one item every tenth of a second. Thus, the only way to get some consumers to notice the product is through displays, shelf hangers, tear-off coupon blocks, other point-of-purchase devices, and, last but not least, effective packages. |
1B | What is a marketing strategy? Ans: A marketing strategy is a business' overall game plan for reaching people and turning them into customers of the product or service that the business provides. The marketing strategy of a company contains the company’s value proposition, key marketing messages, information on the target customer, and other high level elements. What elements are most important for success (rate them on a scale of one to ten – one being least important and five being the most)? Ans: The implementation of health information technology interventions is at the forefront of most policy agendas internationally. However, such undertakings are often far from straightforward as they require complex strategic planning accompanying the systemic organizational changes associated with such programs. Now give your organisation a rating for each element and compare this to the likelihood of success (above). Ans: the rating would be good as compared to the likelihood of the success as my organization is going on good in its progress. |
| 1C | What resources do you have? Ans: there are plenty of resources present. Starting from labour to machinery till delivery system. Give an example of a strategy that you could use to increase one of the above resources. Ans: Putting together a solid employee engagement strategy is something that many organizations struggle with on a daily basis, especially in today's fast-paced business landscape. It's an issue that can often start without warning and slowly build to the point where fixing it is difficult. Making sure employees are engaged from the very beginning is the best way to avoid potential pitfalls. |
1D | Draw a diagram that breaks down the process of developing a marketing strategy.
What should you think about when justifying the selection of a strategy? Ans:From the last three decades hospitality business environment is becoming more aggressive and competitive for the businessmen due to the impact of globalization. Therefore, it is mandatory for every businessman to develop and implement a comprehensive and profitable strategic planning for the survival of their business. "A strategy indicating the opportunities to propose, specific targets, and the types of competitive advantages those are to be developed." |
| 1E | How can you align strategies with yourorganisation’sstrategic direction? Ans: The starting point is to ensure that you have developed the key strategic vision and mission along with our strategic agenda items. Once that is complete alignment planning as part of the strategic planning process can be embraced. Alignment planning as part of your strategic planning initiative seeks to accomplish three main objectives: 1) ensure strong connection among the organization’s mission and its operational resources 2) fine tune departmental goals and objectives and discover implementation gaps. 3) address issues that may exist around internal efficiencies and effectiveness. Summarise what your organisation’s mission, vision and corporate values are. Ans: the company’s current mission is to develop a company that will grow globally. Its vision is to reach the global markets and the company maintains all the ethical values that is to be maintained by any business. |
1F | What may you want to compare when conducting a competitive analysis? Ans: Any business marketing a product similar to, or as a substitute for, your own product in the same geographic area is a direct competitor. Firms offering dissimilar or substitute products in relation to your product or service are considered indirect competitors. Indirect competition would exist between the manufacturer of butter and a manufacturer of margarine selling to the same customers. Another example is the manufacturer of eyeglasses who competes indirectly with contact lens manufacturers. Stated in other terms, indirect competition will satisfy the customer’s need with a particular product or service, although the product or service used may be different from yours. If a firm has similar products and distribution channels, but has chosen to operate in different market segments, they are not at this time your direct competitor. However, it’s important to monitor the marketing activities of such firms because they may decide to move into your market segment, just as you may decide to move into theirs. Take a moment and identify your direct and indirect competitors: What are the stages of a productlife cycleand why is it important to know? Ans: When a new product is introduced, or a new company opens its doors, the business owner's challenge is to generate awareness for that product or service. In these very early stages of market introduction the use of traditional print and broadcast media is a proven way to create demand. What is a product portfolio analysis? Ans: A product portfolio is the collection of all the products or services offered by a company. Product portfolio analysis can provide nuanced views on stock type, company growth prospects, profit margin drivers, income contributions, market leadership and operational risk. This is essential for investors conducting equity research by investors or analysts supporting internal corporate financial planning. |
| 2A | What should your action plan include? Ans: The Action Plan is prepared by the Faculty Board in response to the report from the Faculty Review Panel. Within 30 working days of receipt of the final Faculty Review Panel's report, the Faculty Board produces the action plan to address points raised and recommendations made in the Faculty Review Panel's report. The Action Plan is sent by the Dean to the Faculty Review Panel and to the Learning and Teaching Committee, and the Learning and Teaching Committee monitors its implementation and effects in a time scale that it (the Learning and Teaching Committee) determines. What tips could you give for managing time? Ans: According to the Pareto principle or 80/20 rule, 80 per cent of results come from 20 per cent of effort. That means that of all the things you do, 20 per cent are vital and 80 per cent don’t contribute much. Just think of how much you would achieve if you focused more effort on the 20 per cent that really matters. |
2B | Choose one of the below elements and describe how you could monitor it: 1. Advertising ans: Monitoring how many inquiries you receive by email, website or phone can also tell you how your customers prefer to contact you. As an example, you may discover that customers prefer to visit your website first and print out an advertisement with a discount coupon, before coming into your store. This is invaluable information to use in your next advertising campaign, as you can make sure you heavily promote your specials on your website. |
| 2C | What do you need to ensure that tactics are achievable withinorganisation’sprojected capabilities and budget? Ans: A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or Service (economics)|service, a brand, or a product line. Marketing plans cover between one and five years. A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. |
| 2D | What type of legal and ethical requirements do you need to consider? Ans: As trainers, we must join with our employer to uphold a number of legal requirements. It is not only the law that says that we should do these things, but by doing them we can be sure that the service we provide to our clients will be better. The following table gives an overview of the main legal and ethical responsibilities of RTOs and trainers. After the table, we will have a look in more detail at the WHS and Workplace Relations requirements of RTOs. What is social responsibility and how can you meet it? Ans: ISP may appear to be a new concept in relation to CSP, but it is a concept as old as The Golden Rule — Do unto others as you would have them do unto you. ISR expands on this by promoting a proactive stance towards positively influencing and affecting the people and environments outside your immediate circle. ISR is at the roots of CSR, because a corporate comprises of individuals and hence determines the social responsibility culture it creates. This is the intermingled relationship between CSR and ISR. Individuals are becoming more socially responsible and, in response to this Corporations and Companies need to become more socially responsible to meet consumer demand. |
| 2E | How can you review performance regularly against objectives and budgets? Ans: Once your business is operational, it's essential to plan and tightly manage its financial performance. Creating a budgeting process is the most effective way to keep your business - and its finances - on track. This guide outlines the advantages of business planning and budgeting and explains how to go about it. It suggests action points to help you manage your business' financial position more effectively and ensure your plans are practical. What is a good method to use to get ideas for adjustments? Ans: Great ideas won't happen in a vacuum. You need some way of getting your brain to think in new and creative ways. Commit time to specific sessions where you stimulate your brain into thinking differently. Being a New Yorker, my favorite method is people watching. A simple walk through Manhattan can introduce me to exciting activity and behavior that makes me think anew. Any crowded urban area, mall or zoo can do the same. |
3A | What different types of marketing approaches are there? Ans: Following are the different types of marketing strategies available. 1. Paid advertising: This includes multiple approaches for marketing. It includes traditional approaches like TVCs and print media advertising. 2. Cause marketing: Cause marketing links the services and products of a company to a social cause or issue. It is also well known as cause related marketing. What is a marketing mix and what does it include? Ans: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements. |
3B | What should you include in your rationale? Ans: Your rationale should begin by summarizing the main activity proposed followed by an explanation of why this proposal is merited. You should write this brief outline of your proposal and its benefits assuming that the reader might not be familiar with the approach or activity. For example: "Any student graduating from our business program should be required to participate in an internship experience. Such a placement will reinforce classroom concepts, contribute to long-term professional development, and develop our institution’s ties to local businesses." A longer rationale could then include a discussion of potential challenges or pitfalls to your proposal’s implementation; however, in this case you should conclude by restating your proposal’s importance and advantages. What are the advantages and disadvantages of one of the following tactics: 1. Differentiated target marketing 2. Direct marketing 3. Direct response marketing 4. E-business 5. Mass distribution 6. Mass marketing 7. Personal selling 8. Product variety marketing 9. Promotion marketing Ans: A differentiated marketing strategy is when a company creates campaigns that appeal to at least two market segments or target groups. For example, a store can promote a sale that appeals to people in at least two cities or locations, or a company can market a product that appeals to women in at least two age groups. Differentiated marketing strategies can target many more than two segments; shoe companies often create campaigns that appeal to both men and women in a variety of age groups. Differentiated marketing strategies can also use different messages in the same campaign for different segments. For example, a retailer might market low cost to a budget-conscious segment and product quality to an affluent market segment. |
| 3C | If your organisation has a template for marketing plans attach it here. What information is needed when presenting your marketing plan for approval? Ans: The first part of this help sheet, available by Clicking Here looked at the importance of developing a marketing plan for your group or organisation including the advantages it can bring in building your profile, influence, size and ability to leverage, as well as the benefits to your bottom line. It also looked at the groundwork your community group needs to take in developing a marketing plan, including doing some research and defining policy. What other format considerations are there? Ans: This Web site defines formats as packages of information that can be stored as data files or sent via network as data streams (aka bitstreams, byte streams). For reference, the Format Registry Ontology developed for the Global Digital Formats Registry (GDFR)1 defines two classes of formats: content stream formats and physical media formats. This Library of Congress Web site focuses on the content stream formats, defined in the GDFR Ontology as "a byte-serialized encoding of an information model." The GDFR was active at Harvard University from 2005 to about 2010, and its documentation provides an important source for any analysis of digital formats. |
3D | Who are your stakeholders? ans: Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. What do you need to consider when implementing adjustments? Ans: Once you are confident you have a thorough, comprehensive marketing plan for your business, you can take steps to implement the actions outlined in the plan. Your marketing is more likely to succeed if you have adequate resources and expertise to implement it. If you or your team don't know how to implement your business's marketing plan, seek direction and advice from marketing experts and invest in building your staff's skills. |
Assessment 2: Skills and Knowledge Activity
Student Instructions:
Complete the following individually and attach your completed work to your workbook.
The answers to the following questions will enable you to demonstrate your knowledge of:
- Reading
- Writing
- Oral communication
- Numeracy skills
- Navigating the world of work
- Interacting with others
- Getting the work done
- Organisational structure, products and services and overall strategic and marketing objectives
- Common marketing opportunity options
- Common marketing strategies and marketing approaches
- Processes to ensure marketing strategies, approaches and marketing mix align to organisation’s objectives and are legal, ethical and achievable
- Legislative and regulatory context of the organisation as relevant to the marketing plan.
Answer each of the five (5) questions in as much detail as possible, considering your organisational requirements for each one.
1. What tips can you give for communicating verbally?
Ans: Strong verbal communication skills are important for everyone to master. They are extremely valuable in both your personal and professional life. When speaking clearly, confidently, and with poise, you are much more likely to command the respect of others and build rapport. This is particularly important in business interactions.
2. How can you demonstrate leadership skills?
Ans: Any attempt to rule with an iron fist will go down like a lead balloon – after all, your coworkers don’t report to you. The best way to motivate your colleagues is to set the example of how you expect others to approach the project. If you’re enthusiastic, they’ll be enthusiastic. If you snipe and make snide remarks, so will they. Even if you’re inwardly grumbling about the extra pressure and workload, avoid complaining around your teammates.
3. What codes of practice do you have to consider?
Ans: Codes of Practice set out industry standards of conduct. They are guidelines for fair dealing between you and your customers, and let your customers know what your business agrees to do when dealing with them. Codes of Practice can relate to a single business, or represent a whole industry.
4. Create an action plan in table form to help you set targets and goals.
aim | To grow the company successfully |
Specific goal | Expanding the business globally |
measurable | Proper planning and research of the business strategy. |
achievable | Conduction of the research. |
relevant | Goals that have been set are relevant to the goals of the company. |
timescale | 2 months |
5. How can you monitor the effects of advertising?
Ans: Consumers use social media to make conversation and connections. Time and again, research has shown that consumers use social media primarily to connect with family and friends, follow trends and find product reviews or information. They also comment on what’s hot or new and write reviews about products.
Assessment 3: Major Activity
This assessment is a major activity which consists of three (3) short answer questions to assess the student’s knowledge of this unit.
Instructions for Students
Students must answer all questions. Most questions require short answers although some questions require a more detailed response. Students may use various sources of information including: text books, learning workbooks, other documents and the internet and they must list their sources.
Completed answers should be attached to the workbook.
Complete the following as part of a portfolio:
1. Using your organisation’s objectives demonstrate how you could devise marketing strategies.
Ans:Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps you define your vision, mission and business goals, and outlines the steps you need to take to achieve these goals.
2. Demonstrate how you could plan marketing tactics.
Ans: An effective marketing strategy will help you to define the overall direction and goals for your marketing. Your strategy should articulate how you are going to deliver your products or services in ways that will satisfy your customers. Once you have defined your customers or target market, you need to start developing and implementing tactics or ways to reach them. The marketing mix will make up the tactical elements you will use to carry out your strategy and reach your target market.
3. Prepare and present a marketing plan (you could present this as part of a role play in groups or in the workplace).
Ans: Market analysis includes finding out what groups of customers (or markets) exist, what their needs are, what groups of customers you prefer to serve (target markets), what products or services you might develop to meet their needs, how the customers prefer to use the products and services, what your competitors are doing, what pricing you should use and how you should distribute products and services to customers.
| Element | Performance Criteria | Assessments | ||
Activities | Skills & Knowledge Activity | Major Activity | ||
1. Devise marketing strategies |
| 1A | 3 | 1 |
| 1B | 4, 5 | 1 | |
| 1C | 2, 3 | 1 | |
| 1D | 1, 3 | 1 | |
| 1E | 3 | 1 | |
| 1F | 2, 4 | 1 | |
2. Plan marketing tactics |
| 2A | 1, 2, 4, 5 | 2 |
| 2B | 5 | 2 | |
| 2C | 2, 4, 5 | 2 | |
| 2D | 3 | 2 | |
| 2E | 2, 5 | 2 | |
3.Prepare and present a marketing plan |
| 3A | 3, 5 | 3 |
| 3B | 3 | 3 | |
| 3C | 1, 6 | 3 | |
| 3D | 1, 2, 5 | 3 | |
Performance evidence | Evidence of the ability to: | |||
Devise, document and present a marketing plan including:
| 1A-3C | 1-5 | 1-3 | |
Adjust marketing plan in response to feedback from key stakeholders and disseminate for implementation. | 3D | 1, 2, 5 | 3 | |
Knowledge evidence | To complete the unit requirements safely and effectively, the individual must: | |||
Summarise organisational structure, products and services and overall strategic and marketing objectives | 1A, 1B, 1C, 1D, 1E, 1F, 2E, 3A, 3B | 4, 5 | 1, 2, 3 | |
Outline common marketing opportunity options including:
| 2B, 2C, 3A, 3B | 3, 5 | 2, 3 | |
Outline common marketing strategies and marketing approaches | 1B, 1C | - | 1, 2 | |
Explain processes to ensure marketing strategies, approaches and marketing mix align to organisation’s objectives and are legal, ethical and achievable | 2C, 2D, 3A, 3B | 3, 4 | 2, 3 | |
Outline the legislative and regulatory context of the organisation as relevant to the marketing plan. | 2D | 3 | 2 | |
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