Identify and Evaluate Marketing Opportunities Essay

Assessment Activity 2. BSBMKG501B Identify and evaluate marketing opportunities. Question 1. Dell provides the customer the ability to leave feedback on their website when the customer •Searches for products and services. •Purchases a product or service. •Popup Questionnaire while browsing the website. •Support forums for customers to communicate with staff and other customers. •Online Chat via the Dell website.

Dell have created a channel with customers using ‘Ideastorm’ which gives the customer the ability to interact and suggest ideas to improve their products and services as well as the ability to talk with others in the Dell community about their ideas. Dell can then address the customers concerns and put some of their suggestions to improve their products and services into action. Question 2. The features from Dell’s research has put together a section on their website called ‘Community’ which customers can interact with each other and with Dell’s support team.

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They have essentially created a Dell Community where the user can read through the Dell Forum, Blogs and Twitter. This provides customers the ability to access and contribute solutions, advice, how to documents and discussion topics. ? Question 3. Dell’s unique selling point facilitating the customers to be able to select and customise their computer systems. They can change or upgrade components to suit the customer’s needs which is a major advantage over retailers that are offering a stock standard prebuilt computer system.

Dell is also targeting a demographic market of consumers that already understand the computer jargon which saves them in having to explain the basics of a computer system when making a sale. Question 4. Dell has used the following strategies to generate revenue by providing the following services across 13 countries world wide. •Ability to order directly from Dell and receive their product within 7-10 business days. •Toll free technical support hotline. •On-site service programs. •Online Chat via the Dell website. Website support for 11 country/region specific sites for Asia-Pacific/Japan, using four languages including Chinese, English, Korean and Japanese. Dell also offers the customer the ability to •Personalise their computer system with colour and artwork. •Customise their computer system components. •Select a range of accessories. Question 5. Return on investment means to Dell’s marketing campaign is a measure of how effectively they have used their money for a product or service to be able to generate a profit from it.

A higher return on investment is better and it can be used to calculate a break even point. It is measured by the cost of how much is invested into a product or service verses how much profit it generates. Question 6. Below are three external threats that Dell could face. •Constant change in technology makes the PC Market volatile and Dell will need to constantly review their products or face the risk of falling behind their competitors. •Current economy, consumers may not have the disposable income. •Introduction of mobile computing and the use of portable devices such as smart phones and pads.

Below are two internal weaknesses Dell could face. •Dells products are available only online, they do not have any retail presence. •Unable to fulfil some consumers who want to purchase and take their product home that day with them. Question 7. Businesses can gather the following information from its internal systems about their customers to assist in the planning process. •How much a customer is spending on a product. •What the customer is spending their money on. •Popular products and trends. •Demographics of the client. •Their age, sex, area in which they live.

Question 8. Four ways environment scanning can be conducted to look for information is by •Conducting Surveys, Feedback forms and Questionnaires. •Reading Newspapers, Newsletters, Books and Magazines. •Observing Interviews, Seminars, Reports and Reviews. •Asking Consultants, Researchers, Guru’s and Experts. Question 9. Qualitative research gathers intangible data and relates more to people’s feelings and emotional responses. This is much more subjective than quantitative. Quantitative research gathers more measureable data that can be easily organised, compiled and analysed.

This is much more objective than qualitative. Research can be conducted in the following ways •Analysis of statistical data from a surveyed sample group. •Interview of a group’s opinions and feelings through a questionnaire. •Discussion group or forum. Question 10. The Australian Bureau of Statistics provides secondary data which can be used to assist in the research process by providing a starting point for market research which can save time and money when developing a marketing strategy. Question 11.

Business opportunity is a case where there is a change in the environment that opens an opportunity for a business to take advantage of so it can achieve their business goals and objectives. Examples are: •Breakout of war or civil unrest, there is an increased demand for certain food products and survival equipment. •New land becoming available for development. Investors and building companies can buy and build housing estates. ? Question 12. Business threat is a case where the business is unable to provide their product or service and is unable to fulfil its objectives.

An example is: •Growth of ecommerce giving consumers the ability to purchase products online and from other countries which the Australian dollar is stronger and the consumer can purchase the products for a cheaper price rather than shopping a your retail shop. Question 13. The Pareto Principle in business is a common rule of thumb that 80% of your sales come from 20% of your customers. By using the Pareto Principle my organisation can easily identify and focus on the most effective areas of the help desk support and automate the rest where it is appropriate to do so.

An example would to be taking the initial customer emails and organising and sorting them automatically using computer software rather than a manual process as this is the 80% of the communication methods which they use to contact us. Question 14. a)False b)False c)True d)True e)True ? Question 15. Ansoff’s Matrix is a marketing planning tool used to help businesses determine its product and market growth strategy. The matrix provides outputs of suggested growth strategies which set the direction as pictured in the below diagram.

Market Penetration – Involves taking your existing products, and selling more of them to either your existing customers. Market Development – Looks at ways you can increase sales by selling your existing products or services to new markets. Product Development – Aimed at introducing new products or services to your existing clients. Diversification – It involves moving into a totally different line of business selling different products to a different market. Question 16. Fixed costs per week = $400 / Contribution $0. 50 = 800 ice creams per week and approx. 115 per day to break even. Based on a 7 day working week.