Course Title: Interpret market trends and developments
Part B: Course Detail
Teaching Period: Term2 2016
Course Code: MKTG7932C
Course Title: Interpret market trends and developments
School: 650T Vocational Business Education
Campus: City Campus
Program: C5344 - Diploma of Advertising
Course Contact: Sally Parrott
Course Contact Phone: +61 3 9925 5175
Course Contact Email: email@example.com
Name and Contact Details of All Other Relevant Staff
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.
Pre-requisites and Co-requisites
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.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title:
BSBMKG507 Interpret market trends and developments
1. Interpret trends and market developments
1.1 Use statistical analysis of market data to interpret market trends and developments 1.2 Analyse market trends and developments for their potential impact on the business 1.3 Use measures of central tendency or dispersion and correlations between sets of data for quantitative interpretation of comparative market data 1.4 Perform qualitative analysis of comparative market information as a basis for reviewing business performance 1.5 Analyse the market performance of existing and potential competitors and their products or services to identify potential opportunities or threats
2. Analyse qualitative results
2.1 Analyse performance data from all areas of the business to determine success of marketing activities 2.2 Identify over performing and under performing products and services to be considered for redevelopment or withdrawal 2.3 Forecast existing and emerging market needs based on information available using forecasting techniques
3. Report on market data
3.1 Prepare, plot and interpret data for visual presentation 3.2 Assess visual presentation for potential problems, and take any necessary corrective action 3.3 Report on analysis of market data to meet organisational requirements in terms of content, format, level of detail and scheduling
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.
Details of Learning Activities
Lectures, tutorial and classroom activities
Week 1- Course Induction
• Course delivery and assessment details
• Course support documents
• Online learning environment including Blackboard
• Submission requirements/Resubmission policy
• Where to get support
• Student responsibilities
• Use of Turnitin
Week 2. Secondary market research resources
Week 3. Workshop and skills practice
Week 4 . Assessment Task conducted
Week 5. Market Trends - Case Study
Week 6. Research Objectives: 'What do you want to know'?
Week 7. Report writing and referencing
Week 8. Assessment Task workshop (Assessment Task 2 Due)
Week 9. (Semester Break (TBC)
Week 10. Workshop - Advertising Research Brief due (A3.1)
Week 11. Advertising research methods and reporting
Week 12. Advertising research methods and reporting
Week 13. Advertising research methods and reporting
Week 14. Student presentations and feedback (A3.3)
Week 15. Tutorial - Assessment Task 3 Due
Week 16. Interviews, re-sbmissions and assessment feedback
Overview of Assessment
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.
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.
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
- speed of response curve
- recency or frequency grids
- lifetime value of customers
- net present value of customers.
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.
MKTG7932C Interpret Market Trends and MKTG7927C / Co-ordinate advertising research are co-deliveed and co-assessed and timetabled together.
You must achieve competency in all three assessments to be deemed competent in these two courses.
Assessment 1: Test - Research terms and definitions
- 10% (Individual)
- Students will sit an online test on the topic of market research terms and definitions.
- The terms will be further defined and discussed in class and students are encouraged to use the RMIT in-class resources (lecture slides) as a resource in preparing for the test.
- This test will be held conducted during the scheduled class time
• This assessment task is a ‘closed book’ test
• This assessment task is assessed individually
• The assessment task is worth 10% of the student’s total mark.
Note: this test is conducted and marked online.
Assessment 2: Market Trends Research Report
- 40% (Individual)
- MARKET TRENDS RESEARCH REPORT
- Due Week 9
Students are required to select a product/service or business activity and prepare a market research report. The report will be used to determine organisational, product, and competitor business performance that assists in targeting marketing activities, and in drawing up a marketing plan and an advertising campaign. Students are also required to prepare an Advertising Research Brief based on the finding of the Research Report and planned advertising to test the campaign effectiveness and opportunities for improvement.
· This Assessment Task is due Week 8
· This Assessment Task is worth 40% of the total grade
· This is an individual assessment task
Assessment Task 3 – Conduct Advertising Research, Prepare a Report and Present findings
There are three sections of this assessment task, due on different dates.
Students are required to:
3.1 prepare an advertising research brief (due week 10)
3.2 conduct advertising research and prepare a comprehensive report (due week 15)
3.3 present the report findings to the class to acquire feedback prior to final report submission (due week 14)
- All sections to be submitted for assessment on Week 15.
- This Assessment Task is worth 50% of the total grade
- This Assessment Task can be completed in pairs or as an individual
All Assessment Tasks are to be submitted online via Blackboard, and are typically due on the Sunday night (11.59PM) of the nominated week due, subject to confirmation by your teacher, unless otherwise instructed.
Work to be saved in a word doc or .pdf and uploaded to the assessment tab in your course blackboard shell by required date. Work sent by email will not be marked.
Work submitted after the deadline and without one of the forms below will not be accepted or marked.
Assessment deadline extensions:
Ensure that you submit assessments on or before the due date. If you think you might not make the due date due to circumstances beyond your control, you must apply for an application of extension time BEFORE the due date:
You can apply for an extension of seven or fewer days from the original due date for submission of assignments, projects, or essays. You must lodge it no later than one working day before the original submission due date. See link below for eligibility criteria and forms.
If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms for extension time and special consideration can be found at: http://rmit.edu.au/browse;ID=ls0ydfokry9rz.
Always retain a copy of your assessment tasks (hard copy and soft copy).
When you submit work for assessment at RMIT University you need to also submit the Assessment record and Cover Sheet that includes a declaration and statement of authorship. You must complete and submit this sheet with all work you submit for assessment, whether individual or group work. Assessment Record and Cover sheets for each assessment will be in each course blackboard shells and distributed with your assessment.
It is the student’s responsibility to check their results and complete resubmissions by deadline set (usually within 2 weeks of receiving feedback/results). Students are entitled to one re-submission per assessment. All resubmissions will be marked to competent or non-competent only, no grades will be given. All resubmissions must be received by week 16.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
Course Overview: Access Course Overview