assessment tool bsbmkg507a interpret market trends and developments

BSBMKG507A Interpret Market Trends And Developments

Australis Institute of Technology and Education

BSB51207 Diploma of Marketing

BSBMKG507A Interpret Market Trends and Developments

BSBMKG507A Interpret Market Trends and DevelopmentsThis unit describes the performance outcomes, skills and knowledge required to conduct an analysis of market data in order to determine organisational and competitor business performance, and to prepare market and business forecasts that assist in targeting marketing activities and in drawing up a marketing plan.To achieve competency in this unit learner must demonstrate their ability to: Interpret trends and market developments

Analyse qualitative results

Report on market data

They will also be required to demonstrate the following skills and knowledge:Required skills facilitation and presentation skills to present statistical findings

literacy skills to prepare reports containing complex ideas and concepts

numeracy skills to use a range of statistical analysis techniques and elementary probabilityAnd knowledge: economic, social, and industry directions and trends key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations such as:

anti-discrimination legislation

consumer laws including appropriate state/territory legislation

ethical principles

marketing codes of practice and conduct such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice

privacy laws

Trade Practices Act

software applications especially spread sheets and statistical packages, and use of the internet statistical methods and techniques, and reporting formats

There are 2 Assessments for this unit

1. in class activities:Learners will be working in class to finish these activities. Learner should refer to learning resources and any other information they have such as handouts, textbooks available in the classroom etc. Learners can discuss the activities with assessor in order to make full and satisfactory responses. All the work should be completed by using Microsoft word, excel etc. or learners may choose to hand write. All activities must be completed to gain Satisfactory results in this assessment. Assessor will supervise learners, while they will finish these activities in class. There will be different session in computer lab to work on this assessment.2. (Case study project):

This project is based on a case study. Learner will apply their abilities to conduct an analysis of market data in order to determine organisational and competitor business performance, and to prepare market and business forecasts that assist in targeting marketing activities and in drawing up a marketing plan. Learner can use Microsoft word and Excel to finish this assessment. Microsoft excel will be ideal to do all calculation work and report will be prepared by using Microsoft word. Learners may do this in their own time and refer to resources, trainer notes or other handouts for answers. Assessor will explain the assessment expectation in class.

Assessment Outcomes

There are two outcomes of assessments: S = Satisfactory and NS = Not Satisfactory (requires more training and experience).

Assessor will be marking learner against a competency checklist to ensure learner have met the requirements of each of the relevant competencies. These competency checklists are marked as Satisfactory (S) or Not Satisfactory (NS). The final outcome of the unit will be Competent or Not Yet Competent. Learner is required to attempt all questions. Learner is advised that they are likely to be asked to personally demonstrate their assessment work to their trainer to ensure that the relevant competency standards are being met. Learner will be provided with feedback throughout the course to check their progress.Assessment and appeals

Learner work will be assessed against the performance criteria outlined on this results sheet to ensure you have met the requirements. Learner must put his/her name and learner ID number on the cover sheet and make sure it is returned with Learner work. Learner will be provided with the opportunity to make his/her own comments and sign the cover sheet along with assessor if Learner agrees on the result. Should Learner be deemed not satisfactory by his/her assessor and require re-assessment learner will be informed of the process. If the learner feel the decision made by his/her assessor was not correct please refer to your learner handbook for information on the assessment appeals process and the steps you are required to undertake to lodge an appeal.



ASSESSMENT 1BSBMKG507A Interpret Market Trends and Developments

LEARNER NAME

LEARNER ID

Term

Unit Duration

Learner Declaration:

Re-Assessment & Academic Appeal Procedures are explained in the Learner Handbook.

Your assessor will discuss the following areas with you. They should be ticked off once you are confident that you have understood the information and procedures regarding this assessment.

Purpose and outcomes of the assessment process

Relevant units of competency

Appeals process

Confidentiality and security of information

Special needs/Additional information

Declaration:

I have read the Australis Institute of Technology and Education Learners handbooks and I understand all the rules and guidelines for undertaking assessments.

I give permission for my assessment material/evidence to be used in the auditing, assessment validation & moderation Process.

Learner Name: ------------------------------------------------------------------------------

Learner Signature: _____________________________________Date: ______________________________________

Date: ____________________

In Class Activities

Overview

The objective of this assignment is to develop skills and knowledge to conduct an analysis of market data in order to determine organisational and competitor business performance, and to prepare market and business forecasts that assist in targeting marketing activities and in drawing up a marketing planLearners will be assessed on their skills of: Interpret trends and market developments



Instructions

This is an individual assessment. The activities in this assessment should be completed in class under your assessors supervision and by the due date mentioned in assessment schedule.

You may refer to your reference material and other resources to complete the task. If you are unsure about any questions your assessor can clarify. Assessment should be completed as per the due date in assessment schedule. When you have completed the assessment, advise your assessor who will then collect it from you. This assessment must be submitted with completed assessment cover sheet. Discuss the activities with your Assessor in order to make full and satisfactory responses. All activities must be completed to gain satisfactory result in this assessment.

SubmissionTask is due on the date specified by your assessor which is also mentioned in assessment schedule. Any variations to this arrangement must be approved in writing by your assessor. Submit this assessment document with any required evidence attached. Late submissions will not be accepted without any valid reason. Any late submission without valid reason will be deemed as Not Yet Competent for the Unit. A learner who has compelling reasons for late submission should apply for an extension in advance or as soon as possible. Please refer to your student handbook for more details on assessment submission and appeal process. CLASS ACTIVITIES:Activity 1Do some research about insurance companies in Australia, by using statistical analysis which may involve charts, curves, graphs and spreadsheets, interpret all the market trends and developments about insurance industry in your own words? After interpreting, discuss, what are the potential impacts of these trends and developments on Businesses. (PC-1.1 & 1.2)Activity 2:

Calculate the mean, median, mode standard deviation and co-efficient of variation. (Pc-1.3)

The monthly charges for using the tolls from two suburbs are:

Cost of toll($)DandenongFrankston

30 < 604010

60 < 9012460

90 < 120192131

120 < 150101122

150 < 1803081

180 < 210742

210 < 240328

240 < 270215

270 < 300111

Calculate the mean, median, mode standard deviation and co-efficient of variation. You can use excel or you can calculate manually.

Read the following case study and answer following activities based on that.

ALDI supermarkets continue to go from strength to strength, quadrupling their customer base over the last eight years from under a million to 4.2 million people shopping there in an average four-week period. While this falls a long way short of the 8.8 million customers shopping at Coles or the 9.5 million at Woolworths, ALDIs long-term gains in terms of market share indicate that the European supermarket chain is on the up and up.As of December 2013, Roy Morgans Supermarket Currency report placed ALDI in the Top 3 of supermarkets in terms of market share. Accounting for 10.3% of all grocery dollars, ALDI surpassed even IGA (9.5%). At 39.0%, Woolworths still maintains the largest slice of the pie, while Coles continued to improve, achieving its highest market-share proportion since March 2008 at 33.5%.

Proportion of all grocery dollars spent at each supermarket

Source:Roy Morgan Single Source (Australia), January 2005 - December 2013, latest 12 months to December 2013 n= 14,006.Base:Grocery Buyers 14+Warren Reid, Group Account Manager Consumer Products, Roy Morgan Research, says:Despite the long-standing dominance of Coles and Woolworths, ALDI have shown that its not a two-horse race. More importantly, ALDIs popularity also suggests that there are opportunities for other international supermarket giants to successfully enter the Australian grocery market.While ALDIs increase in market share over the last eight years may seem like a slow burn, theyve actually secured a sizeable chunk of the $82 billion grocery market. Its not that Metcash/ IGA are any less important to consider, but they havent made the same kind of gains over the last few years.Despite Woolworths posting above-average sales in their latest quarter, this hasnt had any noticeable impact on their market share, as Coles continues to close the gap, and ALDI continues to grow.Activity 3:To review business performance of Aldi, Woolworths and Coles, conduct a qualitative analysis from above comparative market information, analyse this market information and do Aldis SWOT analysis. Do some more research and discuss how marketing activities of Aldi are helping them to achieve higher market share.(PC-1.4, 1.5, 2.1)Activity 4:Research about Aldi products and services and identify any products or services which are not matching their sales benchmark (under-performing) or which are beyond their expectations (over performing). Also forecast Australian grocery market needs based on current grocery market information. (PC-2.2 & 2.3)Activity 5:Prepare four to five slides about grocery providers in Australia, while comparing their market share, and make sure you identify any issues or potentials problems related with this presentation along with using a formal content, format and details for this presentation. In your presentation also discuss key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations. (Pc-3.1, 3.2, 3.3)

ASSESSMENT MAPPING & TASK RECORD SHEET

Did the learner Trainer to indicate S or NSNeeds Improvements

ELEMENTPERFORMANCE CRITERIAAssessment

Task mapping S / NS

1st 2nd

1. Interpret trends and market developments1.1Use statistical analysis of market data to interpret market trends and developmentsActivity 1

2. 1.2Analyse market trends and developments for their potential impact on the businessActivity 1

3. 1.3Use measures of central tendency or dispersion and correlations between sets of data for quantitative interpretation of comparative market dataActivity 2

4. 1.4Perform qualitative analysis of comparative market information as a basis for reviewing business performanceActivity 3

5. 1.5Analyse the market performance of existing and potential competitors and their products or services, to identify potential opportunities or threatsActivity 3

6. Analyse qualitative results2.1Analyse performance data from all areas of the business to determine success of marketing activitiesActivity 3

7. 2.2Identify over-performing and under-performing products and services to be considered for redevelopment or withdrawalActivity 4

8. 2.3Forecast existing and emerging market needs based on information available using forecasting techniquesActivity 4

9. Report on market data3.1Prepare, plot and interpret data for visual presentationActivity 5

3.2Assess visual presentation for potential problems, and take any necessary corrective actionActivity 5

3.3Report on analysis of market data to meet organisational requirements in terms of content, format, level of detail and schedulingActivity 5

Required skills: During Assessment activities did the learner Trainer to indicate S or NSNeeds

Improvements

Assessment

Task MappingS / NS 1st 2nd

facilitation and presentation skills to present statistical findingsActivity 1

literacy skills to prepare reports containing complex ideas and conceptsActivity 3 and 4

numeracy skills to use a range of statistical analysis techniques and elementary probabilityActivity 2 and 3

Required Knowledge :Did the learner Trainer to indicate S or NSNeeds

Improvements

Assessment


economic, social, and industry directions and trendsActivity 1 and 4

key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations such as:

anti-discrimination legislationActivity 5

consumer laws including appropriate state/territory legislationActivity 5

ethical principlesActivity 5

marketing codes of practice and conduct such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of PracticeActivity 5

privacy lawsActivity 5

Trade Practices ActActivity 5

software applications especially spread sheets and statistical packages, and use of the internetActivity 2

statistical methods and techniques, and reporting formatsActivity 1, 2 and 3

CRITICAL ASPECT OF EVIDENCETrainer to indicate S or NS

Required Evidence Critical aspects for assessment and evidenceAssessment TaskS / NS

Evidence of the ability to:

applying a range of statistical techniques to analyse market trends and developments, current marketing performance and comparative market informationActivity 1, 2, 3 and 4

documenting analysis of market data including visual presentation of findingsActivity 5

Employability / generic Skills feedback

The following employability Skills have been integrated into the assessments which relate to this unit of competency- Communication, Team work, Problem solving, Initiative and enterprise, Planning and Organizing, Self-management, Learning, Technology

Assessment one summary and Feedback

Unit of CompetenceBSBMKG507A Interpret Market Trends And Developments

Learners Name

Learners ID

Assessors Name

Date of assessment

AssessmentsLearner Result

Class activities Satisfactory Not Satisfactory Not Completed

Feedback to student:

Is re-assessment required?( Yes ( No

Assessor signature:Date:

Student signature:Date:



ASSESSMENT 2BSBMKG507A Interpret Market Trends and Developments

LEARNER NAME

LEARNER ID

Term

Unit Duration

Learner Declaration:

Re-Assessment & Academic Appeal Procedures are explained in the Learner Handbook.

Your assessor will discuss the following areas with you. They should be ticked off once you are confident that you have understood the information and procedures regarding this assessment.

Purpose and outcomes of the assessment process

Relevant units of competency

Appeals process

Confidentiality and security of information

Special needs/Additional information

Declaration:

I have read the Australis Institute of Technology and Education Learners handbooks and I understand all the rules and guidelines for undertaking assessments.

I give permission for my assessment material/evidence to be used in the auditing, assessment validation & moderation Process.

Learner Name: ------------------------------------------------------------------------------

Learner Signature: _____________________________________Date: ______________________________________

Date: ____________________

Overview

The objective of this assignment is to develop skills and knowledge to conduct an analysis of market data in order to determine organisational and competitor business performance, and to prepare market and business forecasts that assist in targeting marketing activities and in drawing up a marketing plan

Learners will be assessed on their skills of:

Interpret trends and market developments



Instructions

This is an individual assessment. The questions in this assessment should be completed within the scheduled time as mentioned in assessment schedule.

All assessment questions must be completed to gain satisfactory results in this assessment.

Learners are required to type/write their answers in their own words, cut and pasting from the internet will not be accepted .Please refer to student handbook on learner plagiarism policy.

Assessor may conduct an oral questioning of Learners research (so make sure learner remember what they write/type).

If Learners are unsure about any questions assessor can clarify.

All work must be typed up. Learners can use Microsoft word and excel to complete this assessment.

When you have completed the assessment, advise the assessor who will then collect it from Learner. You must complete the tasks by the due date mentioned in assessment submission schedule.

This assessment must be submitted with completed assessment cover sheet.

SubmissionTask is due on the date specified by the assessor. Any variations to this arrangement must be approved in writing by the assessor. Submit this document with any required evidence attached. Late submissions will not be accepted without any valid reason. Any late submission without valid reason will be deemed as Not Yet Competent for the Unit. A learner who has compelling reasons for late submission should apply for an extension in advance or as soon as possible. Please refer to your student handbook for more details on assessment submission and appeal process.

Case study Project:

Suppose you are working as marketing manager in one of the big car companies (Toyota, Holden, Ford, Mitsubishi etc.) in Australia. You are given a task to interpret Market trends and developments about car Industry in Australia. Please refer to the following link about automotive or car industry and then prepare a report and presentation, while answering following tasks:http://www.industry.gov.au/industry/automotive/Statistics/Documents/KeyAutomotiveStatistics2012.pdfTask 1:Look at the automotive industry data and conduct a statistical analysis of this data and identify any new market trends or developments. Also briefly explain how new market trends and developments are impacting automotive industry businesses. (Pc-1.1, 1.2)

Task 2:Look at page 20 of the automotive industry report and calculate mean, median and mode for different car firms from 2002 to 2012, also after calculation do a quantitative interpretation of this market data (i.e. which company is selling more etc.) (Pc-1.3)Task 3:

To review business performance of the seven car companies (from report) do a qualitative analysis of comparative market information. (Pc-1.4)Task 4:After reading the report, analyse the market performance of car companies (in terms of sale, revenue, profit, market share etc.). Conduct SWOT analysis of any two car companies. (Pc-1.5)Task 5:

Do some research about Toyota and Holden and discuss which marketing activities are helping these car companies to achieve their goals. (Pc-2.1) Task 6:Look at page 21 of automotive industry report about Cars market share by sales volume and market share by segment and identify over performing and underperforming cars, which car companies may think to redevelop or withdraw. After analysing this report forecast cars market needs by using any forecasting techniques. (PC-2.2 & 2.3)Task 7:After interpreting market trends and developments and analysing qualitative data, prepare and deliver a presentation in from of your class and trainers assuming them as the management of the car company. Use table, graphs, pie charts etc. to make data more presentable. Make sure you are ready in advance to present, (set up the projector and other required equipment in advance) Make sure your report and power point slides meet content, format, level of details scheduling of your business. (PC-3.1, 3.2 & 3.3)Presentation Guidelines

Explain goals, objectives, benefits and issues related with networking

Key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations. Organizing presentation content in the precise manner

Handle the Q&A session (It is a requirement of this task that students should prepare questions in advance and ask questions to the presenter)

Each student presents for 15 min.

You must develop PowerPoint slides and submit the copy of slides to your trainerASSESSMENT MAPPING & TASK RECORD SHEET

Did the learner Trainer to indicate S or NSNeeds Improvements

ELEMENTPERFORMANCE CRITERIAAssessment

Task mapping S / NS

1st 2nd

10. Interpret trends and market developments1.1Use statistical analysis of market data to interpret market trends and developmentsTask 1

11. 1.2Analyse market trends and developments for their potential impact on the businessTask 1

12. 1.3Use measures of central tendency or dispersion and correlations between sets of data for quantitative interpretation of comparative market dataTask 2

13. 1.4Perform qualitative analysis of comparative market information as a basis for reviewing business performanceTask 3

14. 1.5Analyse the market performance of existing and potential competitors and their products or services, to identify potential opportunities or threatsTask 4

15. Analyse qualitative results2.1Analyse performance data from all areas of the business to determine success of marketing activitiesTask 5

16. 2.2Identify over-performing and under-performing products and services to be considered for redevelopment or withdrawalTask 6

17. 2.3Forecast existing and emerging market needs based on information available using forecasting techniquesTask 6

18. Report on market data3.1Prepare, plot and interpret data for visual presentationTask 7

3.2Assess visual presentation for potential problems, and take any necessary corrective actionTask 7

3.3Report on analysis of market data to meet organisational requirements in terms of content, format, level of detail and schedulingTask 7

Required skills: During Assessment activities did the learner Trainer to indicate S or NSNeeds

Improvements

Assessment


facilitation and presentation skills to present statistical findingsTask 1 and 7

literacy skills to prepare reports containing complex ideas and conceptsTask 4,5 and 6

numeracy skills to use a range of statistical analysis techniques and elementary probabilityTask 2 and 3

Required Knowledge :Did the learner Trainer to indicate S or NSNeeds

Improvements

Assessment


economic, social, and industry directions and trendsTask 4

key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations such as: anti-discrimination legislation

consumer laws including appropriate state/territory legislation

ethical principles

marketing codes of practice and conduct such as the Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice

privacy laws Trade Practices Act

Task 7

software applications especially spread sheets and statistical packages, and use of the internetTask 2 and 3

statistical methods and techniques, and reporting formatsTask 1 and 3

CRITICAL ASPECT OF EVIDENCETrainer to indicate S or NS

Required Evidence

Critical aspects for assessment and evidenceAssessment TaskS / NS

Evidence of the ability to:

applying a range of statistical techniques to analyse market trends and developments, current marketing performance and comparative market informationTask 1, 2, 3, 4 and 6

documenting analysis of market data including visual presentation of findingsTask 7

Employability / generic Skills feedback

The following employability Skills have been integrated into the assessments which relate to this unit of competency- Communication, Team work, Problem solving, Initiative and enterprise, Planning and Organizing, Self-management, Learning, TechnologyPresentation marking guide

Record of assessment by observation/demonstrationTemplate

Unit of Competence

Learners Name

Learners ID

Assessors Name

Observation

During the presentation, did the learner:S NS N/AComments

Effective Introduction which includes report requirement.

FORMCHECKBOX

Use of Voice projection Skills

Appropriate eye contact

Appropriate body language

Use of visual aids

Involved audience by using active questioning skills.

Addressing questions from audience and demonstrated understanding and active listening skills.

use of language and concepts appropriate to cultural differences

Concluding presentation within nominated timeframe

Learners overall performance is:(Satisfactory (S)(Not Satisfactory (NS)

Is re-assessment necessary?(Yes(No

Assessor signature:Date

Learner signature:Date

Assessment two Summary and Feedback

Unit of CompetenceBSBMKG507A Interpret Market Trends and Developments

Learners Name

Learners ID

Assessors Name

Date of assessment

AssessmentsLearner Result

Case study project Satisfactory Not Satisfactory Not Completed

Feedback to student:

Is re-assessment required?( Yes ( No

Assessor signature:Date:

Student signature:Date:

Information for Learners

Assessments

ASSESSMENT 1

ASSESSMENT 2

Issue Date: June 2014Review Date: June 2015Authorised by: Sonal Bhatt V 1.0

Developed By; Marketing Deptt.BSBMKG507APage 1 of 36

AUSTRALIS INSTITUTE OF TECHNOLOGY AND EDUCATION,Level 2, 25 George Street, Parramatta, NSW 2150.

Phone: +61 2 9633 1222 Fax: +61 2 9633 1888,Email: info@australisinstitute.nsw.edu.auwww.australisinstitute.nsw.edu.auABN 17 120 701 911,RTO ID: 91630 CRICOS ID: 03173K

Issue Date: June 2014Review Date: June 2015Authorised by: Sonal Bhatt V 1.0

Developed By; Marketing Deptt.BSBMKG507APage 35 of 36

AUSTRALIS INSTITUTE OF TECHNOLOGY AND EDUCATION,Level 2, 25 George Street, Parramatta, NSW 2150.

Phone: +61 2 9633 1222 Fax: +61 2 9633 1888,Email: info@australisinstitute.nsw.edu.auwww.australisinstitute.nsw.edu.auABN 17 120 701 911,RTO ID: 91630 CRICOS ID: 03173K