Interpret market trends and developments
ASSESSMENT-1(Research &Report Writing)
Market trends and developments
Assessment description
You will write a draft report on an organisation for which you can access sufficient marketing data. You will use the same organisation for Assessment Task 2, so make sure you have access to a marketing plan and market data for this organisation. The organisation may be one you work for, one with which you are familiar, or another as negotiated with the facilitator.
The draft report should identify trends and market developments and their potential impacts on the business, review comparative business performance and identify any potential opportunities and threats to the organisation's market share.
The draft report you create for this Assessment Task will be added to in Assessment Task 2. You will then perform more analysis and submit a final report in Assessment Task 3.
Procedure/Instructions
1. Select an organisation for which you can access to a marketing plan and market data.
a. The organisation may be one with which you are familiaror Find the case study that has been given in Appendix-1
b. You will need to contact your assessor to discuss your selected organisation. If you think you may not have access to the sufficient data, your assessor will be able to provide additional information required to complete the task.
2. Profile the organisation, making sure you include the following information:
a. the organisation's products and/or services
b. its current situation in the market
c. its current marketing strategy
d. an outline of internal and external sources of information that is relevant to the organisation's business activities
e. any legislation, regulations and codes of practice that apply to the marketing activities of the organisation.
3. Select or gather appropriate data for the completion of steps 4 to 7.
4. Perform quantitative analysis of:
a. market data to identify market trends and developments
b. market trends to identify their potential impact on the business
c. sets of data to interpret comparative market data
As part of your analysis, you must include the use of at least three of the following concepts or procedures - as well as any other methods of statistical analysis you may wish to use - and briefly explain your choices:
a. central tendency
b. measures of dispersion
c. correlations between sets of data
d. z-test, t-test, chi-square significance tests
e. time series analysis.
5. Perform qualitative analysis of comparative market information. Review and discuss the organisation's performance based on your analysis.
6. Analyse the market performance of existing and potential competitors and their products or services, to identify potential opportunities or threats to the organisation.
7. Prepare, plot and interpret the data for visual presentation. Select and use tools that are appropriate, for example, Excel or similar.
8. Write a draft report that includes your organisational profile (step 2) and the findings on trends and market developments. The report should meet conventional standards for business report writing in terms of content, format and level of detail.
9. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Assessor will provide further instructions in class room on completing assessment tasks which will clearly outline all requirements in more detail and simplistic way according to your understanding level. You may also request your trainer for additional information and may seek help with summarising of all instructions.
Attachment:- Appendix-1.rar