Course Title: Interpret market trends and developments

Part B: Course Detail

Teaching Period: Term2 2012

Course Code: MKTG5834C

Course Title: Interpret market trends and developments

School: 650T TAFE Business

Campus: City Campus

Program: C5226 - Diploma of Advertising

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

Teacher: 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

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:

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
 

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:

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
 

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:

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
 

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
 


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 combination of lectorials, tutorial work projects, group studies and presentation activities


Teaching Schedule

Week 1:

Course introduction and assessment overview

Week 2:

Students will split into working pairs and study the WIL brief from a real client

Week 3:

Student pairings will analyse the Client Brief and accompanying information documents and decide on three to four primary issues

Week 4:

Student pairings will do extensive secondary research via the internet to map trends for the product type in the Client Brief

Week 5:

Student pairings will develop a 5 minute presentation on their research findings and expose the trends they have discovered relevant to the Client Brief

Week 6:

Student pairings will present their findings as a standup PPT presentation in class

Week 7:

Student pairings will begin work on assignment 2.........to develop a Research Plan for a Focus Group.........leading to assignment 3

Week 8:

Lectorials take place on components that need to be included in a Research Plan

Week 9:

Class information and discussion on Statement of Client Issues; An Hypothesis; and Pilot Studies

Research Plan Assignment due (this date may change based on other student activities)

Week 10:

Class information and discussion on Data Collection Methods; Data Collection Sources

Week 11:

Class information and discussion on Project Timeframes; Proposed Outcome Summary

Week 12:

Student pairings to develop Focus Group exercise

Week 13:

Students to hold their Focus Groups and record responses

Week 14:

Focus responses to be developed into a PPT presentation

Week 15:

Focus Group PPT presentation development

Week 16:

Focus Group presentations to be held in class

Focus Group Report  handed to teacher following presentation


Learning Resources

Prescribed Texts

Marketing Research by John Boyce, published by McGraw Hill


References


Other Resources

Internet searches as directed by teacher

Astroid software program


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 5834C Co-ordinate advertising research

MKTG 7823C Interpret market trends


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


Assignment 1
(BSBADV507A)

Element 1: Interpret trends and market developments
Element 2: Analyse qualitative results
Element 3: Report on market data

Students will split into pairs and carryout qualitative and quantitative Research from both secondary and primary (Desk Top survey) sources from a client brief called Yoganics, map market place trends and summarize their findings and use this information as the basis for a research plan which is assignment 2.

This assignment will culminate in a 5 minute PowerPoint presentation which summarizes the student pairing’s findings.

This presentation will be held in class in week 6.


Assignment 2
(BSBADV503B)

Element 1: Assess advertising research requirements
Element 2: Select research method/s

Students will remain in pairs and come up with a Research Plan for a Focus Group from a Client Brief provided. This plan will offer your research recommendations to a WIL project client called Yoganics based on the issues from the brief.

The plan will culminate in a document covering the following elements:

• Statement of the client issues
• Hypothesis
• Pilot Study (Desk Top research), respondents profile and sample size
• Data collection methods
• Data collection sources
• Project timeframe
• Proposed outcome summary

This plan is due in week 10.

 

Assignment 3
(BSBADV503B)

Element 3: Utilize advertising research findings

Remaining in pairs students will come up with at least 5 different brand positioning line concepts to accompany the Yoganics brand name and logo and organise an at least 6 to 10 person Focus Group that best represents the target market for the Yoganics product.

Students will design a Focus Group survey questionnaire and test each of the 5 concepts on their Focus Group, record the results and summarize their findings in a report, then produce a 10 PowerPoint presentation to present their findings in class.

The report and the presentation are due week 14.
 


Assessment Matrix

Full details can be found in the BTS learning and assessment tool

Course Overview: Access Course Overview