Course Title: Interpret market trends and developments

Part B: Course Detail

Teaching Period: Term1 2016

Course Code: MKTG5834C

Course Title: Interpret market trends and developments

School: 650T Vocational Business Education

Campus: City Campus

Program: C6140 - Advanced Diploma of Business (Public Relations)

Course Contact : Sally Parrott

Course Contact Phone: +61 3 9925 5175

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


Name and Contact Details of All Other Relevant Staff

Fiona McQueen
Email:  Fiona.mcqueen@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 covers 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.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMKG507A Interpret market trends and developments

Element:

1. Interpret trends and market developments

Performance Criteria:

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
 

Element:

2. Analyse qualitative results

Performance Criteria:

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
 

Element:

3. Report on market data

Performance Criteria:

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
 


Learning Outcomes



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 thought various technology platforms and include your contribution to online research activities, quizzes 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

This subject is co-delivered with Undertake Research and Analysis MATH5332C

Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:

• Program overview and requirements
• MyRMIT/Blackboard
• Overview of assessment requirements
• Pre-Training Review including:
o Recognition of Prior Learning and Credit Transfers
o Assessment of current skills and knowledge
• Competency/Grading Criteria
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilitiesContent: Course Overview – Class Activity

Week one - Introduction to research and the impact
Week two - Public relations and research
Week three - Models for PR research
Week four - Sources of research - Assessment one due (feedback received by week six)
Week five - research concepts – setting objectives
Week six - Presentation methods for communicating research results
Week 7a - Market trends and research initiatives
Mid semester break 24 March - 4 April
Week 7b - Research & Analysis reporting
Week eight - Research case studies
Week nine - Utilising research in PR strategy
Week ten - Measurement of research - Assessment two due (feedback received by week twelve)
Week eleven - Research and behaviour change
Week twelve - Communications strategies and Research
Week thirteen - Reporting to clients
Week fourteen - Assessment - Assessment three due (feedback received by week 16)
Week fifteen - Assessment
Week sixteen - Resubmissions
Week seventeen - final week – no classes


Learning Resources

Prescribed Texts


References


Other Resources

Nil


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical assessments, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

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. Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

You are required to complete 3 assessment tasks.

You must successfully complete all 3 tasks to be deemed competent in this course. Each assessment contributes equal value towards your final grade

Further details regarding assessments

Assessment 1 – Case Study

Due: end week four
Individual assessment – 1500 words

Students are to WRITE a report on ONE presented case study of a Government communication strategy aimed at changing specific behaviours.

The report will be structured in key stages:

1) Introduction
• Government agency details
• Detailed description of issue the campaign addressed

2) Research
• Details of research undertaken
• Research findings
• Global examples

3) Campaign
• Communications Strategy – break down to INPUTS, OUTPUTS, OUTAKES and OUTCOMES
• Audiences
• Tactics
• Campaign results and evaluation

4) Future
• Consider future campaigns.
a. Discuss gaps in first campaign
b. Possible scenarios where campaign would be relaunched/revamped

5) Conclusion

6) Bibliography

Assessment 2 – Market Research Report

Due: end week 10
Assessment can be conducted in pairs or as an individual – 4000 words.

Students are to WRITE a detailed Market Research Report on ONE of the following industries :
1. Banking and Finance
2. Building Industry
3. Health Industry
4. Aged care Industry

The 4000 word report must be formatted in specific areas:

Section 1 – Market
• Research current market and write a brief introduction on:
a. Size of the market in Australia
b. Key players in the market
c. Key audiences

Section 2 – Australian organisations
• Identify TWO organisations operating in Australia in the chosen market.
• Research those two organisations and highlight key areas including:
a. Current operations
b. History
c. Strength in the Australian market

Section 3 – Current Trends
• Provide information on current trends in the market.
• Analysis of those trends and impacts
• Consider and compare how the TWO organisations respond to current trends? Consider things like:
a. New products
b. Changes in operating procedures
c. Moving out of markets
d. Response to audience
e. Research undertaken by the organisation

Section 4 – Emerging Trends
• Clearly explain TWO emerging trends in the specific industry.
• Provide clear examples on how these trends are impacting the whole industry
• Report on how the organisation(s) have researched the trends
• Undertake quantitative and qualitative research examining and comparing:
a. Compare how each organisation is responding to specific market trends.
b. Report on the current results the organisation is experiencing
• Detail current communication strategies and the specific communications activities being undertaken by the organisation. Detail:
a. Public Relations activities
b. Advertising

Section 5 – Conclusion
Clearly summarise the:
• The success (or not) of the two organisations in working through current and emerging trends

Section 6 - Bibliography

Assessment 3 – Communications Strategy and media relation vehicles

Due: end week 14
• In pairs (same as assessment 2)
• Total pieces (5):
o communication strategy
o media release x 3 (media release minimum word count 350 words each)
o media backgrounder (word count minimum 1000 words)

Communications Strategy
TASK - Prepare a communication strategy for ONE of the organisations.

TOPIC – A campaign to build the profile of a specific aspect of how your chosen organisation is responding to an emerging trend/market.

Ensure you consider:
• Communication objectives
• Key messages
• Timing of a campaign
• Vehicles
• Audience segments
• Media categories
• Media relations – students are to pay special attention to communicating with media as this will link with written media relations pieces.

A template to follow is supplied for the communication strategy.

Media Relations
• Write THREE progressive media releases on ONE specific aspect.
• Write ONE media backgrounder about the specific aspect

Submission Requirements
You should:

• Ensure that you submit assessments on or before the due date.
• 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 use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.
 

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

Resubmissions (VET Programs):
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”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
 

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
 

Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying. You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Marking Guide (Grading)
 

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:
 

Final Grades table:
CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment


Further information regarding the application of the grading criteria will be provided by your teacher
 


Assessment Matrix

Full details on how this course is assessed against the Unit Elements and performance criteria plus critical aspects of evidence can be found in the learning and Assessment Tool available from your course teacher.

Other Information

Nil

Course Overview: Access Course Overview