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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