Task 2 — Growing the business
Having considered how you would go about building and nurturing relationships, George and Mildred now require you to turn your attention to marketing and promoting CCF & MB’s business. This requires you to develop, implement, monitor and adjust a Marketing Plan for the business. When doing this, you will need to:
• Ensure your plan is developed in line with CCF & MB’s vision statement.
• Conduct some research (or make assumptions) and identify key market data for the plan. This can include, for example, customer demographics, product types (i.e. census data if available), marketing media data (i.e. social media).
• Identify of target markets, using a combination of research and your own personal experience.
• Identify your major competitors (at least two) with a competitor analysis developed for each competitor.
• Conduct a review of CCF & MB’s current market position based on your research findings in conjunction with competitor analysis; and identify where improvements can be made.
• Document changes you could introduce to improve the brand of CCF & MB, and what promotional activities you could introduce to build the customer base.
• The provision of options for increasing yield per existing client.
1. To develop and implement the marketing plan, complete the table below:
Student response to Task 2 Question 1
Implementing the Marketing plan
Task Steps Required Resources Required Who will complete this Date to Start Date to Complete
Identify land developers and builders in the area Research on the internet, checking local listings and identify local developers
Internet, phone, business cards and our business flyer
All brokers working for CCF & MB
Develop set by step guide which involved the start to finish process from purchasing a block of land right through to construction completion Research to be completed through lender portal, internet and speak to local builders and agents who specialise in selling land Study need to be completed to specialise in this type of finance. CCF & MB owners 31/08/2020 07/09/2020
Contact all identified developers and builders Once contacted arrange meetings with at least 2 developers and 2 builders Phone, funds to buy coffee or lunch and marketing materials like business cards and our business flyer CCF & MB owners 08/09/2020 10/09/2020
2. To monitor the marketing plan, complete the table below:
Student response to Task 2 Question 2
Monitoring the Marketing Plan
Marketing plan targets Monitoring process Period one Period two Period three Period four Average
Answer here Answer here Answer here Answer here Answer here Answer here Answer here
3. To make adjustments to the marketing plan, complete the table below:
Student response to Task 2 Question 3
Adjusting the marketing plan
Identified task requiring adjustment Changes required
Answer here Answer here
When completing this task, assumptions are permitted although they must not be in conflict with the information provided in the background information.
NOTE to students: You can add lines to the tables if necessary
Assessor feedback for Task 2: Resubmission required?
Task 3 — Identifying risk and applying risk management processes
George and Mildred have become very concerned about the potential risks that could jeopardise
CCF & MB’s business operations. They were very impressed with your growth and marketing plans for
CCF & MB so they have now moved you into more of a general manager’s role with expanded responsibilities, including managing CCF & MB’s risk.
1. As part of your new responsibilities you are required to develop a risk management plan which:
• Establishes the context for CCF & MB’s risk management plan.
• Lists and explains the tools you will use in assessing the risks you identify.
• Identifies the stakeholders you would consult in establishing context and the tools you would use in identifying CCF & MB’s risks.
• Identifies at least two risks that CCF & MB could face for each of the six categories of business risk including strategic risks, compliance risks, financial risk, operational risks, market and environmental risks and reputational risks with an appropriate risk statement for each identified risk.
Note: You may make any assumptions in producing your plan, but these should be documented either in the body of your plan or separately before you produce it. You are not permitted to simply answer the points detailed above.
Student response to Task 3: Question 1
2. Refer to the email from co-worker identifying potential risk in the toolbox. Using the box below, write an email to management outlining the identified risk, your analysis, how you would evaluate the risk and suggest how the risk could be best treated.
Student response to Task 3: Question 2
3. Refer to the Risk treatment mapping guide in the toolbox. Using the following steps, complete the Risk evaluation and treatment table below:
Step 1. Through analysis, identify the risks CC & MB’s business may face; and complete that column. This is to include both legislative and financial risks.
Step 2. By using the Risk treatment mapping guide in the toolbox, appraise the likelihood and consequence for each risk identified and include these in the table.
Step 3. Define how each risk can be treated, and whether a potentially serious risk should be escalated to management.
Step 4. Develop recommendations to mitigate identified risks.
Step 5. Provide recommendations on how to monitor and review the risks identified.
Student response to Task 3: Question 3
Complete for Task 6: Risk evaluation and treatment map
(through analysis) Likelihood
(risk evaluation criteria) Consequence Treatment
(comment if risk should be escalated to management for supervision) Mitigate identified risks
(provide recommendations to mitigate risk) Monitor
(include how to be monitored and how often to be reviewed)
(Task 3: Questions 1-3, 1,000 words)
Assessor feedback for Task 3: Resubmission required?
The post Growing the business Having considered how you would go about building and nurturing relationships, George and Mildred now require you to turn your attention to marketing and promoting CCF & MB’s business. appeared first on Versed Writers.
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