Reference no: EM132497129 , Length: word count:3600

BSBMKG507 Interpret market trends and developments

Assignment Problem 1 - Draft report - Market trends and developments

Performance objective
You must demonstrate the ability, knowledge and skills required to interpret trends and market developments.

Assessment description
You will write a draft report on an organisation for which you can access sufficient marketing data. You will use the same organisation for Assignment Problem 2, so make sure you have access to a marketing plan and market data for this organisation. The organisation may be one you work for, one with which you are familiar, or another as negotiated with the facilitator.
The draft report should identify trends and market developments and their potential impacts on the business, review comparative business performance and identify any potential opportunities and threats to the organisation's market share.

Procedure
1. Select an organisation for which you can access to a marketing plan and market data.
a. The organisation may be one with which you are familiar, your own workplace, or another as negotiated with your assessor.
b. You will need to contact your assessor to discuss your selected organisation. If you think you may not have access to the sufficient data, your assessor will be able to provide additional information required to complete the task.
2. Profile the organisation, making sure you include the following information:
a. the organisation's products and/or services
b. its current situation in the market
c. its current marketing strategy
d. an outline of internal and external sources of information that is relevant to the organisation's business activities
e. anylegislation, regulations and codes of practice that apply to the marketing activities of the organisation.
3. Select or gather appropriate data for the completion of steps 4 to 7.
4. Perform quantitative analysis of:
a. market data to identifymarket trends and developments
b. market trends to identify their potential impact on the business
c. sets of data to interpret comparative market data
As part of your analysis, you must include the use of at leastthree of the following concepts or procedures - as well as any other methods of statistical analysis you may wish to use - and briefly explain your choices:
a. central tendency
b. measures of dispersion
c. correlations between sets of data
d. z-test, t-test, chi-square significance tests
e. time series analysis.
5. Perform qualitative analysis of comparative market information.Review and discuss the organisation's performance based on your analysis.
6. Analyse the market performance of existing and potential competitors and their products or services, to identify potential opportunities or threats to the organisation.
7. Prepare, plot and interpret the data for visual presentation.Select and use tools that are appropriate, for example, Excel or similar.
8. Write a draft report that includes your organisational profile (step 2) and the findings on trends and market developments. The report should meet conventional standards for business report writing in terms of content, format and level of detail.
9. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.

Assignment Problem 2: Draft report -Analyse performance data

Performance objective
You must demonstrate the ability, knowledge and skills required to prepare an analysis of qualitative results to identify the success of marketing activities.

Assessment description
Using the same organisation selected for Assignment Problem 1, you will draft a report in which you analyse qualitative data to:
• determine the success of marketing activities
• identify over- and under-performing products and services to be considered for redevelopment or withdrawal
• use forecasting techniques to identify existing and emerging market needs.
The draft report you create for this Assignment Problem should complement the analysis undertaken in Assignment Problem 1. You will then perform more analysis and present a final report in Assignment Problem 3.

Procedure
1. Review the marketing plan strategies and objectives of your selected organisation.
2. Gather and analyse performance data from all areas of the business to determine the success (or otherwise) of marketing activities.
3. Discuss the performance of products and list over-performing and under-performing products and services. Using the data available, recommend redevelopment or withdrawal of any over-performing and under-performing products where appropriate.
4. Utilise forecasting techniques to analyse the market data to identify existing and emerging market needs. Forecasting techniques may include:
a. Delphi techniques
b. model building
c. projection
d. scenario planning
e. surveys of intentions
f. top-down or bottom-up forecasting
5. Document your qualitative analysis from steps 1-4 in your draft report from Assignment Problem 1.
6. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.

Assignment Problem 3: Final market analysis report and presentation

Performance objective
In this assessment task, you will need to demonstrate your ability to communicate market and performance data to a range of audiences and with a range of methods.

Procedure

Part A
1. Contact you assessor by email, phone or in person to request feedback on your draft report from Assignment Problem 2.
2. Based on your assessor's feedback, review your draft report from Assignment Problem 2 and make any required changes, paying particular attention to the visual presentation of the report and the data analysis.
3. Add an appendix to you report that identifies software applications that are commonly used in quantitative and qualitative analysis and outline their key features.

Part B
1. Prepare to present your main findings in an informal presentation, suitable to a team meeting. Your presentation should not be longer than ten minutes. Include some visual graphics to support your analysis and findings (e.g. charts and graphs presented in a slideshow). Your presentation will need to cover:
a. an overview of market trends and developments
b. an overview of the organisation's current performance
c. a forecast of emerging market needs.
2. Arrange a time with your assessor to deliver your presentation.
3. Deliver your presentation, ensuring that you match your tone and style of delivery to the audience and context (team meeting).
4. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.

Attachment:- Market trends and developments.rar