Interpret Market Trends and Developments;

Interpret Market Trends and Developments; Instructions 1. Assessments will be provided by your trainer. 2. Assessments should be completed as per trainer’s instruction. 3. The assessment must be submitted by the session mentioned above in the due date. 4. Your assessment should be presented as a word-processed document addressing all elements of the assessment. 5. Once you have completed the assessment, please attach the APC assignment cover sheet and hand both to your trainer. 6. Plagiarism is copying someone else’s work and submitting it as your own. Any plagiarism will result in a mark of zero. ff This Assessment Project is to be completed in addition to the learning and assessment tutorial activities you complete in class during the course. ff This Project evaluates a number of elements of competency that will assess your knowledge and skills in interpreting market trends and developments (see BSBMKG507A - Assessment Guide for a complete list of elements of competency and performance criteria that you must demonstrate). ff This Project can be completed in one of two ways. Assessment candidates may interpret market trends and developments: • Within their own work environment or organisation, or • With reference to a scenario provided by the APC trainer/assessor ff You must successfully complete all 3 parts of this project. The table on the following page shows you the assessment weightings for this unit of competency. ff If you are not sure about any aspect of this assessment, please ask for clarification from your assessor. 10 ADDENDUM | © 2014 YOUNG RABBIT PTY LTD, AUSTRALIAN PACIFIC COLLEGE BSB51207 DIPLOMA OF MARKETING | MARKET TRENDS_V4.3 Overview of Assessment Project This project is made up of 3 parts: Part Weighting Due Date Part A: Examine your organisation 20% As advised by trainer Part B: Analyse your organisation 20% As advised by trainer Part C: Report on your organisation 10% As advised by trainer On the following pages you will find the various types of information. The symbols below will be used throughout this project to represent the different types of information. ff A description of the task to be completed ff A document or piece of additional information that will assist you complete the task ff Questions that require an answer. 11 ADDENDUM | © 2014 YOUNG RABBIT PTY LTD, AUSTRALIAN PACIFIC COLLEGE BSB51207 DIPLOMA OF MARKETING | MARKET TRENDS_V4.3 Assessment 1: Part A. Examine your organisation (20 marks) Task Description In this activity you will be required to investigate a particular market trend and/ or development relevant to the product or organisation you are considering. Discuss the data needed for this exercise with your lecturer. Task 1 Interpret the market trend or developments by analysing the data. You should complete this task by conducting appropriate statistical analysis of the market data to prepare information about the actual trend or development. Your main aim is to determine how these trends or developments will impact on your organisation’s business. Task 2 Conduct further analysis of the data including the use of measures of central tendency or dispersion to interpret the data. Also check for correlations between data sets. Outline how the results of this analysis might assist you in making appropriate business decisions. Part A. Checklist Before you hand in these assessment tasks, use the checklist below to make sure you have completed all the tasks and have included all relevant information. 1. Obtain the market research data. 2. Interpret the data so that you can analyse market trends and developments and the impact on the organisation’s business. 3. Summarise the outcomes of this analysis for reporting. 4. Conduct quantitative analysis of comparative data using measures of central tendency and dispersion and correlations between data sets. 5. Provide the outcomes of this analysis. 12 ADDENDUM | © 2014 YOUNG RABBIT PTY LTD, AUSTRALIAN PACIFIC COLLEGE BSB51207 DIPLOMA OF MARKETING | MARKET TRENDS_V4.3 Assessment 1: Part B. Analyse your organisation (20 marks) Task Description In this activity you will analyse your organisation’s business performance to determine the success of your current marketing activities. Your aim is to provide data to assist with forecasting of marketing needs. Task 1 Using the data you have obtained in the previous part of this assignment develop forecasts for the organisation or product you are examining. Part B. Checklist Before you hand in these assessment tasks, use the checklist below to make sure you have completed all the tasks and have included all relevant information. 1. Outline your analysis process. 2. Provide the outcomes of your analysis 3. Use forecasting techniques to forecast existing and emerging market needs 13 ADDENDUM | © 2014 YOUNG RABBIT PTY LTD, AUSTRALIAN PACIFIC COLLEGE BSB51207 DIPLOMA OF MARKETING | MARKET TRENDS_V4.3 Assessment 1: Part C. Report on your organisation (10 marks) Task Description In this activity you will compile all of the information you have gathered as a result of your analysis. You will prepare the information for visual presentation and prepare a report. Task 1 Use appropriate software to prepare the information you have gathered as a result of your data analysis for visual presentation. Task 2 Use your visual representations of information to assist you in preparing a report detailing your interpretation of the relevant market trends and developments. Make sure you include both conclusions and recommendations for action. Part C. Checklist Before you hand in these assessment tasks, use the checklist below to make sure you have completed all the tasks and have included all relevant information. 1. Prepare and submit visual representations of the information you have gathered from data analysis. 2. Prepare and submit a final report. Include both conclusions and recommendations.