TASK 1
Based on the above scenario, develop a comprehensive report titled ‘Identification & Evaluation of Marketing Opportunities, covering the following areas:
a. Identify two opportunities to enter new market, with current or new products and two opportunities to introduce new products to your current markets.
b. Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities by analysing and documenting these opportunities in terms of:
I. Their potential contribution to your organisations business
II. Their fit with your organisation’s goals and capabilities
III. Likely impact on your current business and customers
IV. External influences on the financial viability of each opportunity
V. Probable return on investment
VI. Describe and rank marketing opportunities on their viability, and likely contribution to the business
VII. Changes needed to current operations
VIII. Changes needed to maintain current quality of customer service
IX. Resources required to make the necessary changes
X. Develop a communication plan to communicate your findings to the key stakeholders in your organization.
XI. outline key provisions of relevant legislation, codes of practice and national standards affecting marketing operations in your organization
XII. Briefly describe what statistical methods and techniques you would use to evaluate the above identified marketing opportunities?
