Download Task 4 (annotated) [DOC 71KB]

STAGE 2 BUSINESS AND ENTERPRISE
FOLIO TASK 4 – EXTENDED WRITTEN RESPONSE - MARKETING
CONTENTS
Executive Summary
1
Marketing
2
Considerations taken before a Marketing Plan is developed
3
Factors Affecting Consumer Behaviour
3
Unethical Marketing
4
Examples of Unethical Marketing
5
Illegal Marketing
5
Examples of Illegal Marketing
6
Conclusion
7
Bibliography
Page 1 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
Executive Summary
This essay will outline and analyse aspects of marketing, including how businesses use
marketing and the effects marketing has on businesses. The information compiled is
based on newspaper articles, websites and class handouts.
Page 2 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
Marketing is the process of identifying new and existing needs and wants of consumers
and satisfying those with creating products or services available to consumers while
simultaneously making a sound profit for the business. The aim of marketing is to have
the right products or services appropriate for a firm’s target market, at the right price,
place and to have the right promotion in order to sell the good of service.
A marketing plan assists the business in ensuring an efficient approach is taken when
developing products or services to meet and satisfy the customer’s needs and wants.
Before a marketing plan is developed many considerations are taken to ensure that as
a result of the business’ marketing strategies, the business will increase their market
share, profitability and turnover of stock.
Both primary and secondary research is conducted to gather information needed to
determine the potential target markets and segmentation of the business. Market
segmentation allows the business to gain a clear knowledge of exactly who the
business is targeting its products/services to, consequently giving the business an
understanding of the characteristics of the consumers and enabling them to best suit
consumer’s needs and wants. There are several ways by which businesses can
segment markets. (See Figure 1)
Figure 1
Market Segments
Geographic
region, population,climate
Demographic
age, religion, nationality
Psychographic
activities, interests
Behavioural
brand loyalty
Page 3 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
Knowledge and
Understanding
Provides evidence
of well-informed
understanding of
the complex nature
and role of
business and
enterprise.
There are four main marketing strategies applied by businesses when carrying out the
final marketing activities. These strategies are product, price, promotion and place, the
Four Ps. (See Figure 2)
Consumer behavior can be greatly affected by both personal and external influences.
Almost all consumers are part of a social class structure, with which the members
share similar values, interests and behavior. Social class is determined by a number of
factors such as, income, occupation, education and wealth. Social classes show a
distinct product and brand preferences in areas such as clothing, vehicles and housing.
Figure 2
Four Ps
Product
Different styles, sizes, colours and types of products
Price
Aimed at target market who is willing to the price
Promotion
Magazines, billboards
Place
City, suburb
Page 4 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
Application
Indicative of
competent
application of
knowledge and
understanding of
ideas and concepts
that have some
relevance to
marketing.
Advertising is considered to be unethical if it has ‘degraded or underestimated the
substitute of the competitors product, gives false or misleading information, fails to give
useful information or is believe to be obscene or immoral’ (Advertising 2004)
As marketing is essentially a way to increase profits, many businesses use unethical
marketing if they believe it will increase consumer purchases and so increase profits.
Recently Bank X marketed throughout Australia a fixed home loan offer of 4.99%.
However, this was not open to all Australians and so therefore is an example of
unethical advertising.
Online betting agencies recently gave away millions of dollars’ worth of free bets to
entice more gamblers to their agencies. This is unethical because it could increase
issues for problem gamblers.
Business need consumers as much as consumers need businesses. When it comes to
advertising the relationship between the business and consumers is not equal. The
business holds the upper hand, as consumers rely on the advertising material to make
informed decisions regarding purchases. Laws and guidelines regarding the control of
advertising exist to protect society from illegal advertising. Illegal advertising in
Australia is advertising which breaches State or Federal legislation or the guidelines set
by the Australian Advertising Standards Bureau.
Knowledge and
Understanding
Reference to
Bank X provides
evidence of
considered
knowledge and
understanding of
the relationship
between business
theory and
practice.
Analysis and
Evaluation
Together these
instances provide
evidence of
evaluation of the
economic
implications of
business
practices.
Company X was fined for misleading advertising of cigarettes in NSW. NSW has laws
that prevents the displaying of cigarettes or tobacco, in the hope of reducing smoking.
A motor vehicle advertisement was banned in Australia because it was seen to
promote illegal driving practices.
Marketing is important for the success of a business. Good marketing practices will
mean the difference between the sale of your product or the loss of sales to
competitors. Aggressive marketing plans will give a business the opportunity to grow
and expand, “marketing is an investment that will pay for itself over and over again”.
Identifying the needs and wants of the demographic of business, locating the product
and ensuring pricing is competitive are essential marketing tools to ensure the success
of any business.
Word Count 693
Page 5 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
Knowledge and
Understanding
Provides
supporting
evidence of wellinformed
understanding of
the complex
nature and role of
business and
enterprise.
Bibliography
Marketing Handout from class.
Internet Sources
http://www.davidjones.com.au viewed 14 August
http://www.netmba.com/marketing/market/segmentation viewed 14 August
Consumer Markets http://referaty-seminarky.sk/consumer-,arkets-influences-onconsumer-behaviour, viewed September
http://www.adelaidenow.com.au/unethicalmarketing
http://www.adelaidenow.com.au/misleadingadvertising
Additional comments
A review of the student’s work provides evidence of:
Communication

proficient use of appropriate vocabulary and terminology

an on-balance limited acknowledgement of sources, e.g. reference to Company X fined for
misleading advertising is not sourced.
Page 6 of 7
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010
PERFORMANCE STANDARDS FOR STAGE 2 BUSINESS AND ENTERPRISE
Knowledge and
Understanding
A
Comprehensive understanding
of the complex nature and role of
business and enterprise.
In-depth understanding and
coherent explanation of a variety
of business structures, including
those of small business in a
global environment.
In-depth knowledge and
understanding of the relationship
between business theory and
practice.
B
Well-informed understanding of
the complex nature and role of
business and enterprise.
Some depth of understanding
and clear explanation of different
business structures, including
those of small business in a
global environment.
Detailed and well-considered
knowledge and understanding of
the relationship between
business theory and practice.
C
Informed understanding of the
nature and role of business and
enterprise.
Considered understanding and
competent explanation of
different business structures,
including those of small business
in a global environment.
Considered knowledge and
understanding of the relationship
between business theory and
practice.
D
Some awareness of the nature
and role of business and
enterprise.
Awareness and description of a
business structure, which may
be a small business in a global
environment.
Recognition and some basic
understanding of the relationship
between business theory and
practice.
E
Limited awareness of the nature
or role of business and
enterprise.
Attempted description of a
business structure.
Awareness of a relationship
between business theory and
practice.
Page 7 of 7
Analysis and Evaluation
Perceptive and discerning
analysis and evaluation of the
factors involved in current
trends, opportunities, and key
issues affecting business and
enterprise.
Insightful and well-informed
evaluation of the economic,
ethical, social, and
environmental implications and
consequences of business and
enterprise practices in different
contexts.
Well-considered analysis and
evaluation of the factors
involved in current trends,
opportunities, and key issues
affecting business and
enterprise.
Thoughtful and informed
evaluation of the economic,
ethical, social, and
environmental implications and
consequences of business and
enterprise practices in different
contexts.
Informed analysis and
evaluation of the factors
involved in current trends,
opportunities, and key issues
affecting business and
enterprise.
Evaluation of the economic,
ethical, social, and
environmental implications and
consequences of business and
enterprise practices in different
contexts.
Basic description of one or
more factors involved in current
trends, opportunities, and/or key
issues affecting business and
enterprise.
Some consideration of the
economic, ethical, social, and
environmental implications or
consequences of business and
enterprise practices.
Recognition of one or more
factors involved in current
trends, opportunities, or key
issues affecting business and
enterprise.
Limited consideration of any of
the economic, ethical, social,
and environmental implications
or consequences of business
and enterprise practices.
Communication
Coherent and fluent
communication of complex
information and ideas about
business and enterprise to suit
the purpose and audience.
Comprehensive and highly
proficient use of conventions,
vocabulary, and terminology
appropriate to business and
enterprise.
Consistent and appropriate
acknowledgement of a range of
sources.
Clear and well-structured
communication of complex
information and ideas about
business and enterprise to suit
the purpose and audience.
Proficient use of conventions,
vocabulary, and terminology
appropriate to business and
enterprise.
Mostly consistent and appropriate
acknowledgement of a range of
sources.
Competent communication of
information and ideas about
business and enterprise to suit
the purpose and audience.
Use of conventions, vocabulary,
and terminology generally
appropriate to business and
enterprise.
Mostly appropriate
acknowledgement of different
sources.
Some endeavour to communicate
basic information and ideas about
business and enterprise for a
particular purpose or audience.
Inconsistent use of basic
conventions, vocabulary, and
terminology appropriate to
business and enterprise.
Application
Highly proficient use of technology
that meets current business
standards.
Selective and constructive
application of knowledge and
understanding of relevant
business ideas, concepts, and
practices.
Proactive and focused selection
and use of relevant information
from a range of sources.
Proficient use of technology that
meets current business
standards.
Thoughtful application of
knowledge and understanding of
relevant business ideas,
concepts, and practices.
Well-considered selection and use
of relevant information from a
range of sources.
Competent use of technology that
meets current business
standards.
Competent application of
knowledge and understanding of
relevant business ideas,
concepts, and practices.
Considered selection and use of
relevant information from different
sources.
Basic use of technology which
may not meet current business
standards.
Some endeavour to apply
knowledge and understanding of
one or more business ideas,
concepts, and/or practices, which
have some relevance.
Some acknowledgement of
sources.
Selection and some use of
information from more than one
source, with some relevance.
Attempt to communicate one or
two ideas about business and
enterprise without necessarily
taking into account the audience.
Limited skill in using technology.
Limited and isolated use of
conventions, vocabulary, and
terminology appropriate to
business and enterprise.
Limited acknowledgement of
sources.
Recognition of the need to apply
knowledge and understanding of
business ideas, concepts, and
practices, which may have some
relevance.
Attempted use of information from
more one or more sources, which
may have some relevance.
Stage 2 Business and Enterprise annotated response for use from 2011
565317154 (June 2017)
© SACE Board of South Australia 2010