BSBMKG507 Interpret Market Trends and Developments

To be deemed competent for this unit, you will need to meet the following requirements:

· complete all of the questions and tasks listed in the Student Assessment Workbook

· meet all the requirements listed in this Student Assessment Guide

· your responses to the questions and tasks must be relevant, accurate and specific

· submit your completed Student Assessment Workbook to your Assessor within the set timeframes

· your work must be in your own words

· where you use an external source of information, you must provide citation.

Pre-assessment Checklist

Your assessor will go through the assessment for this unit, BSBMKG507 Interpret Market Trends and Developments. It is important that you understand this assessment before taking on the questions and tasks. To confirm that you have been given this overview, we ask you to complete the following Pre-Assessment Checklist.

You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm your understanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason under the ‘Comments’ column.

When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that your Trainer/Assessor has discussed all of the information with you prior to undertaking this assessment.

Assessment Event 1 – Knowledge Questions

The information contained in this section lists the questions that you will need to develop a written response. These questions are theoretical and provide evidence of your understanding of sources of information for market forecasting, software applications used in data analysis, statistical analysis used in marketing, and the legislative requirements within the marketing industry.

Note you must answer these questions in your own words. Remember, you must get a satisfactory result with each question to be deemed satisfactory for the whole of Assessment Event 1.

In the table below, outline internal and external sources of information relevant to forecasting market trends.

Write your response into the table below:

Question 2

Outline the legislative and regulatory context that impact marketing operations.

Write your response into the table:

Outline industry bodies that regulate the marketing space in Australia.

Write your response into the table:

Identify and outline software applications that are commonly used in quantitative and qualitative analysis.

Write your response into the table:

Question 5

Using the table below, outline statistical concepts, methods, techniques and reporting formats commonly used in marketing.

Write your response into the table:

Assessment Event 2 – a & a Coffee Simulation

In this assessment, you will undertake a number of tasks associated with documenting a Market Analysis Report for A & A Coffee, an Australian café chain. In this simulation you will perform the following actions:

· apply statistical and qualitative analysis techniques to analyse a set of qualitative and quantitative data

· drill down into the datasets and comparative market information, and mine out the patterns in market trends and developments, organisational business performance and competitor performance

· present the report to key stakeholders.

In this task, you will analyse the quantitative and qualitative datasets provided (as separate attachments) to you using relevant quantitative and qualitative data analysis methods. You will then document your findings in their Market Analysis Report.

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1.3 Use quantitative data analysis to interpret comparative market data

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In this task, you will analyse the datasets provided to you and mine out A & A Coffee’s overall business performance. You will then analyse the results and suggest a strategic pathway to remain competitive in the market using a qualitative forecasting method. Finally, you will document your findings in your Market Analysis Report.

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In this task, you will plan and deliver an interactive presentation with two key stakeholders of A & A Coffee to present your findings in the Market Analysis Report.

Prepare your visual aids using an appropriate slideshow preparation software.

Attach the printed format to your Student Assessment Workbook.

Your Assessor will observe your presentation. Refer to your Student Assessment Guide for detailed instructions.

Upon the receipt of the feedback from the two stakeholders, make the necessary adjustments to your Market Analysis Report.

Task Outcome Sheets

The Outcome Sheet below is the assessment questions and tasks for each of the assessment events that the student is required to complete. Assessors, tick ‘S’ if the student achieved a satisfactory outcome for an assessment task and ‘NYS’ if the student does not meet these requirements. Also, you are required to write comments on the quality of this evidence under the ‘Comments’ column. For your judgement on the student’s overall performance, tick ‘Satisfactory’ if the student achieves a satisfactory outcome for all of the tasks or ‘Not-Yet-Satisfactory’.

Assessment Event 1 – Knowledge Questions

Assessment Event 2 – Simulation

Student Feedback Form

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BSBMKG507 Student Assessment Workbook | Student ID: Page 2