BSBMKG501 Identify and Evaluate Marketing Opportunities
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Identify and outline five examples of legislation and regulations that apply to the marketing industry in Australia.
Identify two relevant Codes of Practice for the marketing industry and outline the purpose of the Code and its key components.
Explain each of following terms in relation to marketing opportunities: market penetration, market development, product development and diversification.
Explain each of the phases of the product life cycle.
Explain the purpose of the marketing mix and each of its components.
Explain why the marketing mix is important in bringing a product or services to the market.
Outline four key steps in the marketing process
Describe four statistical methods and/or forecasting techniques that can be used to evaluate marketing opportunities.
Describe a method that can be used for forecasting market growth rate.
Define the term return on investment and explain how it is calculated.
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