Course Title: Interpret market trends and developments

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: MKTG5834C

Course Title: Interpret market trends and developments

School: 650T TAFE Business

Campus: City Campus

Program: C5229 - Diploma of Marketing

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

Teacher/Lecturer: Tony Lorkin

Office: 9925 5486

Mobile: 0412 715 222

E-mail: tony.lorkin@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 required

Course Description

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. Information gathered is used to assist in developing an organisation’s marketing plan and to determine the current or potential future success of marketing strategies.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMKG507A Interpret market trends and developments

Element:

BSBMKG507A /01 Interpret trends and market developments

Performance Criteria:

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

Element:

BSBMKG507A /02 Analyse qualitative results

Performance Criteria:

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

Element:

BSBMKG507A /03 Report on market data

Performance Criteria:

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


Learning Outcomes


This unit describes the performance outcomes, 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 that assist in targeting marketing activities and in drawing up a marketing plan.


Details of 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

WeekWeek CommencingTopicsAssessment
18 Jul(1) Course Induction
• 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) Course Overview
 
215 Jul

 Company’s position in the market place. Introduction of Work Integrated Learning brief

Consider the 4Ps

Consider the 7Ps

The basic differences between goods and services products

How to begin to use research to identify market place trends

Introduction: Assignment 1

 
322 Jul

 The evolution of marketing from the late 1800s to the present

Analyse strategic marketing factors ......research local and overseas organisations per WIL brief

How to use trend maps and statistical data to identify organisational opportunities from other relevant organisations

 
429 Jul

 Analyse strategic marketing factors......research local and overseas organisations to recognise emerging market place trends

How to use trend mapping as a basis for recommending new directions for an organisation

 
55 Aug In class tutorial exercises to plan the assignment 1 report 
612 Aug

 

 The Product Life Cycle and Planned Obsolensence

 

 
719 Aug

 Individual student consultation regarding drafts for assignment 1

 
826 Aug Final preparation work on Assignment 1

 Assignment 1 due.

3,000 word report on the evolution of marketing from:

1. Beginning of  mass production in late 1800s

2. Sales era in the 40s to 60s

3. The introduction of the marketing concept

4. Relationship marketing

5. Societal marketing

6. Social marketing

 2 - 6 Sep Mid-semester break 
99 Sep

The impact of the Product Life Cycle and Planned Obsolesence on the Advertising Spiral

In class exercises

 
1016 Sep Tutorial exercises to discuss and review drafts for assignment 2 
1123 Sep Target Marketing strategies and consumer information channels 
1230 SepIn class tutorial review of paired assignment preparation
 
137 Oct Understanding the differences between business objectives, marketing objectives and communication objectives 
1414 Oct

 Assignment 2 due

In class presentations

 Assignment 2:

Report which identifies:

1. Marketing opportunities

2. Emerging trends

3. IMpact of trends on WIL brief organisation

4. Trend impacts on organisation’s current position

5. Recommend changes for the organisation
 

Assignment 3:

10 minute PPT presentation that overviews the main elements put forward in assignment 2.
 

1521 Oct Resits if neccessary and student feedback 
1628 Oct Resits if neccessary and student feedback 


Learning Resources

Prescribed Texts

TBA


References

•Monger, B. (2007); marketing in black and white, 1st ed., Pearson Education, Australia
•Reed, P. (2006): Strategic Marketing Planning, 2nd ed., Thomson
•Walker, Mullins, Boyd, Larreche (2006); Marketing Strategy, 5th ed., McGraw-Hill
•Healy, G. (2004); Strategic Marketing Analysis, 1st ed., Thomson


Other Resources


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

 

MKTG 5832C Identify and Evaluate Marketing Opportunities (BSBMKG501A)
MKTG 5834C Interpret Market Trends and Developments
(BSBMKG507A)


These courses are taught in consultation with each other and are timetabled accordingly

Assignment 1

REPORT: THE EVOLUTION OF MARKETING

Students will write a 3,000 word report on the evolution of the marketing concept and how it develop from the beginnings of mass production in the late 1800s through the sales era to the first marketers, on to relationship marketing, societal marketing and today’s new phenomenon of social marketing using real product/services examples.

This assignment is due in week 8 of the teaching program.

Assignment 2

REPORT: MARKET OPPORTUNITIES

Students in pairs will produce a comprehensive report from a brief which identifies:

• Marketing opportunities
• Maps trends with similar organisations in Australia and overseas
• Summarizes the possible impact of these trends on the organisation
• An investigation of these opportunities against the organisation’s current position
• And suggests changes to the organisation’s current behaviour

This assignment is due in week 14 of the teaching timetable

Assignment 3

PRESENTATION: OVERVIEW OF ASSIGNMENT 2

In pairs students will present a 10 minute PPT presentation that overviews the major elements put forward in your assignment 2 report.

The presentation will occur in normal class time in week 14.

 


Assessment Matrix

Course Overview: Access Course Overview