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Explain How Legislation And Regulations To Determine The Marketing Mix

1173 Words5 Pages

Assessor: Alvin
Date:
Business this assessment is based on:

Ray white real estate

Role you will assume to complete this assessment:

Marketing Manager

BSBMKG542 ESTABLISH AND MONITOR THE MARKETING MIX PROJECT PORTFOLIO STUDENT VERSION 1.0 | 3

Section 1: Establish the marketing mix

Complete this section to summarise requirements for the marketing task.
Legislation and regulations
What legislation and regulations applies to marketing and the marketing mix (at least two) ?
Summarise the requirements of the legislation.

The Australian Information Commissioner Act 2010 established the OAIC as an Australian government body (AIC Act). The OAIC is responsible for freedom of information, privacy, and information policy functions, according to …show more content…

The plan serves as the starting point for all your marketing efforts, addressing important elements of developing a strategy that builds brand awareness, stimulates product demand, and ultimately converts customers.
Below are the essential elements of every successful strategic marketing plan. Current market analysis Organizational marketing objectives. target audience. Advertising Strategy. Monitoring and
Measurement. Positioning a company requires balancing the interests and concerns of various stakeholders, each with different and potentially conflicting goals. Corporate positioning has less to do with specific products or services than it does with the spirit of the organization. Process of Lead Generation:
Identifying potential customers. Brand awareness is important:
Promote your company and its products to potentially interested individuals. Consider branding: make others remember you.
Sales: Convincing customers to buy from you. Your target audience is the group of people most likely to be interested in your product or service. Pricing policy has to do with how a company determines the cost, value, demand, and …show more content…

What will be the most important features or benefits of the product or service in relation to the target market?

The company has distinguished itself by focusing on a specific market niche: first-home buyers looking for homes in Melbourne's suburbs within commuting distance. While others won't be turned away, the firm prefers to primarily represent individuals and couples buying their first home. To this end, they take a unique
'undiplomatic' approach, holding in-depth and thoughtful sessions with clients to address all their concerns, as well as general information sessions and workshops for potential clients. On its website, the company offers a "How to Buy Your First Home" guide, which includes the best information from the Internet as well as their own advice. All actions of the company are aimed at meeting this market demand.

Price
How will pricing of the product or service affect take up of the product or service?

Since the price is an industry standard, it doesn't affect the number of people using the service. Customer perceptions of

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