Course Title: Interpret market trends and developments

Part A: Course Overview

Program: C5344 Diploma of Advertising

Course Title: Interpret market trends and developments

Portfolio: BUS Portfolio Office

Nominal Hours: 50

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

MKTG7932C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term2 2016

Course Contact: Sally Parrott

Course Contact Phone: +61 3 9925 5175

Course Contact Email: sally.parrott@rmit.edu.au



Course Description

This unit describes the 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. The information assists in developing an organisation’s marketing plan and to determine the current or potential future success of marketing strategies.

This unit applies to marketing professionals who use statistical techniques to analyse organisational and competitor marketing performance and to interpret new and emerging trends when forecasting future business needs.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

BSBMKG507 Interpret market trends and developments

Elements:

1. Interpret trends and market developments

2. Analyse qualitative results

3. Report on market data


Learning Outcomes

This course is structured to provide students with the optimum learning experience in order to demonstrate the 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. The information assists in developing an organisation’s marketing plan and to determine the current or potential future success of marketing strategies.


Overview of Assessment

Assessment Methods

Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:

  • direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
  • review of final printed documents
  • demonstration of techniques
  • observation of presentations
  • oral or written questioning to assess knowledge of software applications

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Performance Evidence

You must provide evidence of the ability to:

  • apply statistical and qualitative analysis techniques to identify:
    - current business performance
    - competitor performance
    - potential threats and opportunities
  • apply qualitative and forecasting techniques to identify:
    - success of marketing activities
    - over and under-performing products and services
    - existing and emerging market needs
  • document the analysis of market data including visual presentation of findings.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • outline internal and external sources of information relevant to forecasting market trends including:
    - business and strategic objectives
    - marketing and other business performance
    - comparative market information
    - changes in technology
    - demographic changes
    - social and cultural factors
    - economic trends
    - government activities and legislative changes
    - industry trends
    - supplier data
  • outline the legislative and regulatory context as it applies to marketing
  • identify software applications that are commonly used in quantitative and qualitative analysis and outline their key features
  • outline statistical concepts, methods, techniques and reporting formats commonly used in marketing including:
    - conversion rate of leads to sales
    - measures of central tendency
    - measures of dispersion
    - nature and degree of relationship between variables
    - net response rate
    - normal distribution probability curve
    - sampling
    - speed of response curve
    - recency or frequency grids
    - lifetime value of customers
    - net present value of customers.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.