Purpose of this Assessment task:
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.
BSBMKG507 Performance And Skills Assignment-Business College IH Australia.
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.
BSBMKG507 Performance And Skills Assignment-Business College IH Australia.
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.
Objective To test the required application skills of interpreting market trends and developments.
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?
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b) Briefly explain (in one or more sentences for each) the following forecasting techniques:
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)
Question 2: Statistical Analysis
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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BSBMKG507 Performance And Skills Assignment-Business College IH Australia.
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 under performing product and one under performing 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.
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.
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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BSBMKG507 Performance And Skills Assignment-Business College IH Australia.
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)
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