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Marketing Audit and Evaluation

Essay by   •  December 22, 2010  •  Essay  •  427 Words (2 Pages)  •  1,287 Views

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The development and implementation of the marketing plan is to take place in QUTopia, a make-believe city in Queensland, Australia. Students enrolled in the class will adopt the roles of the residents of the city with roles and demographics assigned randomly to students in the first week of classes. Residents will be issued with fake QUTopian currency which they can spend as consumers at two marketdays (to be held in class). All students are expected to spend their money as consumers during the two week period. After implementation, students will reflect on their experience as both consumers and marketers in an individual assessment.

While students develop and implement the marketing plan as a team, the audit and evaluation of the project is to be done individually. The currency representing the sales of the business is to be attached to the marketing manager's assignment.

The structure of the assessment item is listed below:

1. Summary of marketing outcomes and profit/loss statement.

This needs to include the following three sections. These three sections should contain identical information for all team members.

1. Achieved outcomes

The marketing objectives in the original plan with the outcomes recorded against each objective

2. Sales and production outcomes

- Sales price (per unit)

- Total number of units produced

- Total number of units sold

- Stock on hand (left-over inventory)

3. Financial outcomes

- Profit/loss statement (this should contain break-up of costs into real currency and QUTopian currency)

- Return on Investment

*Please note that you must also declare any retained capital from the $2000 originally issued (we will be checking that your figure tallies with the amounts in your profit and loss statement do not be tempted to place any of this amount in your revenue figure.)

Each team member needs to individually summarise these outcomes.

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