assesment to be done in 3 days
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BSBMKG507Task2V2.1-3.docx
BSB50215 Diploma of Business BSB52415 Diploma of Marketing and Communication NAT10118 Diploma of Social Media Marketing
BSBMKG507
Interpret market trends and development
Task 2 – Written Report
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Candidate Instructions |
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Purpose of this Assessment task |
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This assessment task is designed to test your skills in interpreting market trends and development as required by the unit BSBMKG507 Interpret market trends and development. Your trainer/assessor will be assessing your work and provide you with constructive feedback on Canvas. This task will assess your skills to: · Interpret trends and market developments · Analyse qualitative results · Report on market data.
In this assessment you will analyse the provided case study, undertake research in the topics presented, create, and interpret market trends and development. By successfully completing this project you will provide the required performance evidence of your competence in interpreting market trends and development.
What are you required to do to undertake this Case Study? You should carefully read the provided Case Study; its appendices; and additional resources available on Canvas and undertake all questions. The task includes: (i) Analysing the case (ii) Undertaking required research (iii) and Reporting. No Role Play or Presentation is required for this assessment task.
To successfully undertake this assessment, you should be doing the following: · Read the provided Case Study couple of times and understand its requirements · Clarify the requirements with your trainer and assessor, if you are not sure · Research appropriate websites as directed by your trainer/assessor · Discuss with your trainer/assessor the contents of the report if needed.
Context and conditions of undertaking the tasks? The prescribed tasks will be undertaken by you after carefully analysing the case scenarios. Your trainer will also provide you guidance on the websites to be researched. Your trainer/assessor may also set certain conditions under which you will perform the tasks required by this assessment. For example, your trainer may set a time limit to perform a task or, ask you to repeat a task or, ask you to give additional information about the performance by asking you some verbal questions or, they may prescribe you some new conditions to undertake certain tasks.
Given your personal conditions, your trainer/assessor should also be able to make some reasonable adjustments in undertaking the tasks of this assessment. You should check with your trainer/assessor about the conditions under which the tasks should be completed, and the possible adjustment they can make in undertaking these tasks.
What specific WHS requirements may be involved? This assessment will require you to be aware of the standard Workplace Health and Safety requirements e.g. Workplace Health and Safety Act and Workplace Health and Safety Legislation Your trainer/assessor will advise you on these and other legislative requirements.
Tasks and frequency of performance Details of the tasks to be undertaken in this assessment are provided in the Case Study. The tasks listed in that document must be performed at least once.
Getting Started The assessment may be re-attempted on two further occasions (maximum three attempts in total). All assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly indicate “Re-submission” on your resubmitted work.
You must complete all questions unassisted by the assessor or other personnel but may refer to reference material as may be needed. All questions must be answered satisfactorily for the assessment to be completed satisfactorily.
For any assessment conducted that is incomplete, or without satisfactory performance, the assessment will need to be completed again after further training support. This may be simply to focus on question areas not achieved in the prior assessment.
Submitting your assessment When you are ready to submit your assessments, upload the files in Canvas via the submission tab. It is important that you keep a copy of all electronic assessments submitted to Canvas. Please submit all assessment components.
Word count In this assessment some of the questions include a word count. This is a guideline only, but your answers should not vary substantially (i.e. +/- 10%) from the word count provided. Microsoft Word includes a word count tool. |
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Objective |
To test the required application skills of interpreting market trends and developments. |
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Candidate Declaration |
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Candidate name: |
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Trainer’s name: |
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Date: |
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Assessment declaration: |
I declare that: · I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task · This assessment is my own work and where other’s works or ideas have been borrowed, I have appropriately referenced or acknowledged them · I understand that plagiarism is a serious offence that may lead to disciplinary action.
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Candidate signature: |
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Task 2 – Performance and Skills Assessment
General instructions
You are required to perform a market analysis of current trends and developments and how they affect an organisation. The Bounce Fitness case study will be used as the basis for your analysis. Refer to Bounce Fitness First Year Report found in Appendix 1 at the end of this document and the learner and complete all questions.
Question 1: Market Trends and Development
a) Describe how statistical analysis can help you to understand market trends and developments? (50 -100 words)
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b) Briefly explain (in one or more sentences for each) the following forecasting techniques: (50-100 words)
· Bottom-up forecasting
· Delphi technique
· Surveys of intention
· Top-down forecasting.
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c) From the market data provided in the case study and any research you conduct, identify at least 2 current market trends or developments and their potential impact on Bounce Fitness. (note: you will need to conduct your own research to help identify current market trends and developments in the fitness industry)
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Market Trends and Developments |
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Market Trend / Development |
Potential Impact to Organisation |
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Question 2: Statistical Analysis
(approx.200 words)
a) What is a measure of central tendency and what are the three types of this?
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b) What is a measure of dispersion and how is a standard deviation calculated?
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c) What do correlations in data show you?
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d) Calculate the mean (average) for the Bounce Fitness first year results for their products and the first year results for their services. (refer to the first year report tables titled “Products” and “Services” in the case study.)
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Question 3: Analyse Performance
Analyse the performance data provided in the case study and answer the following question:
a) Comment on the success of the marketing activities. Which was the highest performing activities and the lowest performing activities and what changes would you make for future marketing.
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b) Comment on the performance of the products and services. Identify at least one underperforming product and one underperforming service and describe what you will do with these for the next year.
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c) Provide an example of how you can use qualitative analysis to help improve future business performance.
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Question 4: Comparative Market Analysis
a) Research and analyse the market performance of two (2) existing competitors. Identify their products and services and at least one potential opportunity and one potential threat for each competitor.
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Comparative Market Analysis – Existing Competitors |
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Product and Services Analysis |
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Competitor 1
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Competitor 2 |
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Potential Opportunities |
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Competitor 1
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Competitor 2 |
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Potential Threats |
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Competitor 1
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Competitor 2 |
b) Research and analyse the market performance of one (1) potential competitor. Identify their products and services and at least one potential opportunity and one potential threat.
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Comparative Market Analysis – Potential Competitors |
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Product and Services Analysis |
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Potential Opportunities |
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Potential Threats |
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Question 5: Report on Market Data
a) Prepare a bar graph or line graph for the Bounce Fitness first year results for their products and the first-year results for their services. (refer to the first-year report tables titled “Products” and “Services” in the case study.) You can include the products and services on the same graph. Copy and paste the chart in the space below.
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b) Prepare a PowerPoint presentation for Bounce Fitness management to communicate the statistical findings. Use the Bounce Fitness presentation template found in the resources section on Canvas. Include the following:
· Marketing activities undertaken and results from marketing activities
· Products and services analysis
· Market trends and developments
· Competitor analysis
· Opportunities and threats
· Recommendations
(note: include at least 2 graphical representations in your presentation)
Upload the PowerPoint presentation to Canvas with this completed document. (No Role Play or a Presentation is required)
End of Assessment
Congratulations, you have completed this assessment task.
Please ensure all questions are answered and upload the following:
· This completed workbook
· PowerPoint presentation (question 5b)
APPENDIX 1 - BOUNCE FITNESS FIRST YEAR REPORT
Bounce Fitness is a new and rising fitness centre that specialises in offering group exercise programs, personal training, and dance classes. After its first year of operation, Bounce Fitness is already making a big name for itself with its unique approach to fitness.
Currently, Bounce Fitness is going head to head against some of the known fitness organisations in the market such as Anytime Fitness, Snap Fitness, and Fitness First. These fitness centres also offer similar products and services that Bounce Fitness offers. They have also established household names for fitness, unlike Bounce Fitness which only at the start of making a name for itself. But based on the different types of fitness programs that Bounce Fitness offers, they are starting to really make an impact on their competitors.
The first-year report for Bounce Fitness’ products and services are as follows:
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Products |
Initial Number of Consumers |
Target Number for the Year |
Number of Consumers after the First Year of Operations |
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A) Customisable Diet Plans |
10 persons |
30 persons |
25 persons |
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B) Customisable Cardio Training Program |
5 persons |
30 persons |
30 persons |
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C) Customisable Circuit Training Program |
5 persons |
30 persons |
17 persons |
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Services |
Initial Number of Regular Students* |
Target Number of Regular Students for the Year |
Number of Regular Students after the First Year of Operations |
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A) BF Vinyasa Yoga Program |
25 persons |
50 persons |
65 persons |
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B) BF Dancercise Program |
8 persons |
30 persons |
31 persons |
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C) BF H.I.I.T. Program |
20 persons |
50 persons |
60 persons |
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D) Personal On-Call Home Fitness Instructor Program |
7 persons |
20 persons |
10 persons |
· Regular students are the clients who have signed up for at least a one month package for the class
The Marketing Team reported the following information on Bounce Fitness’ marketing activities:
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Marketing Activity |
Number Customers that learned about Bounce Fitness through that Marketing Activity |
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Brochures/Pamphlets |
26 persons |
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Website/Online Advertisement |
35 persons |
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Word of Mouth |
20 persons |
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Fitness Conventions |
7 persons |
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TV Commercials |
30 persons |
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Radio Commercials |
5 persons |
NOTE: These are based on the feedback given by existing and recurring customers of Bounce Fitness. This is also based on the first year of operation of Bounce Fitness, January 23, 20XX – January 23, 20XY.
To improve on Bounce Fitness’ performance, the marketing team has suggested reviewing the market. The team has looked into the organisation’s current developments, market trends, annual reports, improvements, etc.
The team has suggested that you visit the following links from Fitness Australia for more information about how to improve upon Bounce Fitness’ products and services:
· <https://fitness.org.au/articles/category/reports/37/19>
· <https://fitness.org.au/articles/category/policies-guidelines/4/20>
· <https://fitness.org.au/articles/category/industry-services/34/175>
· <https://fitness.org.au/articles/category/learning-development/46/181>
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