A student studying the BSBMKG502 unit has to write BSBMKG502 assessment 1 answers. This assignment is based on a series of questions that you need to answer with the help of market forces and the knowledge of the assignment. In this blog post, the management assignment help providers are going to assist you write the answers to some of them.
BSBMKG502 Assessment 1 Part A
This part contains 16 short questions that you need to write answers for. The answers do not have to be extremely detailed. You just need to answer in a straightforward way what the professor is asking.
The question wants you to explore how the market is determined by the characteristics of a product. This can be understood with the help of an example. Suppose there is a company A who manufactures a cough syrup, their market is the one where people buy medicine for cough. They cannot sell their medicine to a market where the patients buy medicine for cancer.
You now have to identify 3 brands. Let us assume them to be BMW, Aston Martin and Bentley. You now have to tell how does BMW market their price on the basis of the factors of the market. Moreover, you have to analyse how the pricing of their products affect demand. The general trend is that the demand increases as the price decreases up to an extent.
The question wants you to answer in your own words but that does not mean that you are not going to study anything related to the topic. Here, you have to talk about how the distribution channels help the organisation to achieve the marketing objectives. For that, you can say that the distribution channels ensure that the product is reaching the right customers at the right time. If the distribution channel fails to deliver the product on time, the entire process will be disrupted.
To answer this question, you have to identify the types of data you are going to use for the analysis. This analysis will be of marketing mix components. If you are aware of the research methodologies, you would know that there are two types of data – qualitative and quantitative.
In this assignment answer, you need to mention how you are going to use these two data types for determination of the effect of the marketing mix components.
In this question, you have to tell how the consumer decides their priorities on the basis of the items available. Here, you can say that the customers are more likely to buy a product is a wide range of choices are available for that. Also, the more things you have in a shop, the more of those items is the customer likely to purchase, even if they do not need it.
Here, you need to identify an organisation and then search on how it selects the marketing mix. Also, you have to show how this marketing mix satisfies the target audience of the organisation and then meets the objectives of the marketing.
It would be better if you select a renowned organisation for which such details are easily available on the internet. Such organisations would be a part of hundreds of researches over the years which will answer your question with ease.
In this question, you have to explain what is the importance of ensuring that all the adjustments that are made to the marketing mix are aligned with the budget. In other words, you need to tell why is marketing mix requirements supposed to be within the budget of the organisation.
This means that you have to build a relationship between the budget of the organisation and the marketing mix. The adjustments can be that you are increasing the number of distribution channels by using 2 new delivery services or any other.
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