Achievement standard 91382 - Business studies 3.4
Develop a marketing plan for a new or existing product.
This achievement standard relates to
learning objective 8-1
Students will gain knowledge, skills and experience to:
- analyse how and why New Zealand businesses operating in global markets make operational and strategic decisions in response to interacting internal and external factors.
and/or
learning objective 8-2.
Students will gain knowledge, skills, and experience to plan, take to market, review and then refine an innovative, sustainable business activity; analyse the activity and its success in the market place.
Explanatory note 2
Contexts for learning
The context for learning is a new or existing product from a suitable business connected to the student’s life and community and based on their talents, needs and aspirations (see the notes on making connections with students’ lives on page 7, which explain why using such a context is good practice). It is possible to combine this with AS3.6. However, teachers should be aware of potential high stakes involved in combining standards.
Developing a marketing plan would typically involve:
- setting marketing aims to support corporate objectives
- complete a marketing audit evaluating existing marketing against marketing aims
- conduct market research to address issues arising from marketing audit
- analyse and evaluate market research data
- develop a comprehensive marketing strategy to meet marketing aims
- evaluate sales forecasts and create marketing budget
- develop a contingency plan
- write a comprehensive action plan for implementation and future monitoring.
Business knowledge, concepts, and content
This achievement standard requires that students demonstrate understanding of the following business knowledge, concepts, and content:
- business strategy (mission statement, corporate objectives, SMART aims)
- marketing audit (existing marketing activities, BOSTON matrix)
- market research (size, market share, targets, segments)
- market analysis/strategy (Porters Five Forces model, SWOT, marketing mix ANSOFF matrix)
- sales forecasting
- marketing budgets
- contingency planning
- implementation and monitoring.
Related Māori concepts
Māori concepts that relate to this achievement standard include:
- tikanga
- pūtake
- tūranga
- kaitiakitanga
- rangatiratanga.
See also:
Explanatory notes 3, 4, and 5
See:
Achievement grades at level 3
Last updated October 4, 2022
TOP
