Course Title: Forecast international market and business needs

Part B: Course Detail

Teaching Period: Term2 2014

Course Code: MKTG5794C

Course Title: Forecast international market and business needs

School: 650T TAFE Business

Campus: City Campus

Program: C5219 - Diploma of International Business

Course Contact : Tim Wallis

Course Contact Phone: +61 3 9925 5423

Course Contact Email:timothy.wallis@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Joe Rosagrata

joe.rosagrata@rmit.edu.au

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

None

Course Description

This course applies to individuals with managerial responsibility for forecasting international and business needs including collecting market intelligence, reviewing current business performance and capability, evaluating specific markets and documenting how the business can meet current and emerging needs of the target market.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMKG512A Forecast international market and business needs

Element:

Collect market intelligence

Performance Criteria:

1.1. Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities
1.2. Identify and access further sources of market intelligence
1.3. Evaluate commercial services providing market intelligence for value-for-money and quality of market intelligence, and access as required
1.4. Collate and analyse market for relevance and applicability to the organisation's international business activity and undertake an evaluation of marketing performance
 

Element:

Document how business can meet current and emerging needs of the target market

Performance Criteria:

4.1. Identify, analyse and document poor/under-servicing of existing international market needs by the organisation and/or its competitors
4.2. Identify changes in international markets that link positively to the organisation's strengths or capabilities
4.3. Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements
4.4. Forecast and justify emerging international market needs in terms of available information
4.5. Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity
 

Element:

Evaluate the specific market

Performance Criteria:

3.1. Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business
3.2. Gather and analyse comparative international market information as a basis for reviewing business performance
3.3. Analyse the market performance internationally of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets
3.4. Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business
3.5. Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity
 

Element:

Review current business performance and capability

Performance Criteria:

2.1. Confirm core activities, customer base, business values and current business direction
2.2. Identify current international marketing performance and effectiveness of past international marketing or positioning
2.3. Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity
2.4. Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets
2.5. Identify under-performing products or services within international markets for re-development or withdrawal
2.6. Confirm the strength and current competitive position of the business within international markets
 


Learning Outcomes


This course delivers the skills and knowledge required to gather intelligence about the target international market and to use that information in the business.


Details of Learning Activities

This unit describes the performance outcomes, skills and knowledge required to prepare for, conduct and report on a marketing audit in accordance with an organisation’ Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

The self-paced activities will be delivered through various technology platforms and include your contribution to tutorial activities and interactive sessions.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
 

We expect you to participate and contribute in all scheduled learning activities.


Teaching Schedule

<thead> <th scope="col">Week</th> <th scope="col">Date</th> <th scope="col">Topic</th> </thead>
17 July
 
• Course delivery and assessment details
• Course support documents
• Online learning environment
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities
(2) Pre-Training Review
• Includes skills analysis and Recognition of Prior Learning and Credit Transfers
(3) Introduction to the course
 
214 July
 
Identify market opportunities
321 July
 
Marketing information systems and Regulatory and Legal (considerations)
428 July
 
Trademap Data sets – analysing the global market
54 Aug

 
Workshop - Trends
611 Aug
 
Segmentation & Mktg Mix
718 Aug
 
Market Trends & PLC
825 Aug
 
SWOT & PESTE (market analysis)
 1 Sep
 
Mid-semester break
98 Sep
 
STATS
1015 Sep
 
Budgets and Trends Analysis
1122 Sep
 
Workshop -
1229 Sep
 
Sales/market forecasting (market tends/peste search 1)
136 Oct
 
Assignment – Workshop (market tends/peste search 2)
1413 Oct
 
Revision and Review (market tends/peste search – 3)
1520 Oct
 
Resubmissions and resits/revision
1627 OctFeedback


Learning Resources

Prescribed Texts


References


Other Resources

N/A


Overview of Assessment

Students must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.

Assessment will incorporate a variety of methods including assignments, journals, presentation and written or test. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.
 


Assessment Tasks

This course is codelievered and coassessed with MKTG5790c - Analyse Data from International Markets

Assessment Task 1 – (Write Opportunity Report) – Identify Trademap product data
Date handed out: Week 3
Date and time due: Week 8
Group or Individual: This is an individual assessment

Purpose:
This assessment aims to identify student’s ability to analyse secondary data and interpret trends for international market opportunities. This will provide students with a working knowledge of real-world international market data.

Requirements:
Students are required to produce a short opportunity report that will show how hey analyse data and determine international market trends. The report will be  based on Trademap data and is to be no more than 750 words in total.

Assessment Task 2 – – Identify Target Market and Segments for an International Market

Date handed out: Week 7
Date and time due: Week 13
Group or Individual: This is a group assessment to be completed in groups of no more than 3 persons.

Purpose:
This assessment aims to identify student’s ability to apply analysis of secondary data and trends for international market opportunities and suggest which markets and segments should be adapted as marketing considerations. This will provide students with a working knowledge of real-world international market forecast data and application for products opportunity in a real-world scenario.

Requirements:
Students are required to produce a report that will show how they analysed data to determine which markets to enter and target with international market products. The report will be written in groups of 4 based on Trademap data and is to be no more than 3000 words in total.
 


Assessment Matrix

Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

You will be provided with an assessment matrix in the assessments area of the unit blackboard shell. Generally, your grading will be assessed against how well you:
• Perform the activities as required by the learning elements of this unit of competency.
• Demonstrate the required knowledge for this unit of competency.
• Execute the required skills for this unit of competency.
• Demonstrate your employability skills through contribution to learning activities related to this assessment, timeliness, use of technology and teamwork.

Final Grades table:
DNS - Did not submit for assessment
NYC - Not yet competent
CAG - Competency achieved – graded
CC - Competent with credit
CDI - Competent with distinction
CHD - Competent with high distinction
 

Other Information

Submission requirements:
You are required to meet the following criteria for all assessments. Failure to do so may result in you being deemed not-yet-competent:

• Submit all assessment tasks online through blackboard, and include the RMIT e-submission declaration (see below).
• Ensure that you submit assessments on or before the due date.
• Retain a copy of your assessment tasks.


Electronic Submission
When submitting work online, you need to include the cover sheet supplied by your teacher. This includes the following declaration:

RMIT Electronic Submission of work for assessment
I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the assessment declaration.
(URL: http://www.rmit.edu.au/students/assessment/declaration)


Resubmissions:
If you are found to be Not Yet Competent (NYC) in an Assessment Task you will be allowed one resubmission to demonstrate competence. 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”.

Late Submissions
Students are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If a student is to be prevented from submitting an assessment item on time, by circumstances outside their control, they may apply in advance to the teacher for an extension to the due date of up to seven calendar days. To be eligible for an extension, you must lodge the extension form availabile at the following link with your teacher: http://www.rmit.edu.au/students/assessment/extension

Where an extension of greater than seven days is needed, the student 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 on special consideration and how to apply can be found here: http://www.rmit.edu.au/students/specialconsideration

Final Date for All Assessments
No assessment tasks or resubmissions will be accepted after 5pm Friday, week 16.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. Information on circumstances under which the assessment arrangements might be granted can be found at the following website: http://www.rmit.edu.au/students/assessment/adjustment
 

Course Overview: Access Course Overview