ASSESSMENT INFORMATION
Welcome to your Student Assessment Workbook for BSBMKG507 Interpret Market Trends and Developments.
This Student Assessment Workbook is where you will write all your responses for the knowledge questions. Please refer to the Student Assessment Guide for more information.
This assessment has the following events:
Assessment Event 1 – Knowledge Questions: |
There are five questions that will provide us with evidence of your general knowledge of internal and external sources of information relevant to forecasting market trends, software applications that are commonly used in quantitative and qualitative analysis, statistical concepts, methods, techniques and reporting formats, and legislative context within the marketing space. |
Please note that your responses for both assessment events can (where appropriate) use dot point format. See below an example of a dot point response and a full sentence response.
Dot point format | Presentation Plan includes the following:
· outcomes · needs of the audience · context. |
Full sentence format | When you are preparing for a presentation, there are a number of tasks that must be carried out. These are listing the outcomes that you want to achieve, followed by the identification of the needs of your audience. When you have completed these two tasks you then check on the room that you will be conducting the presentation in. |
To Achieve Competence
To be deemed competent for this unit, you will need to meet the following requirements:
· complete all of the questions and tasks listed in the Student Assessment Workbook
· meet all the requirements listed in this Student Assessment Guide
· your responses to the questions and tasks must be relevant, accurate and specific
· submit your completed Student Assessment Workbook to your Assessor within the set timeframes
· your work must be in your own words
· where you use an external source of information, you must provide citation.
ASSESSMENT 1 – KNOWLEDGE QUESTIONS
The information contained in this section lists the questions that you will need to develop a written response. These questions are theoretical and provide evidence of your understanding of sources of information for market forecasting, software applications used in data analysis, statistical analysis used in marketing, and the legislative requirements within the marketing industry.
Note you must answer these questions in your own words. Remember, you must get a satisfactory result with each question to be deemed satisfactory for the whole of Assessment Event 1.
Question 1
In the table below, outline internal and external sources of information relevant to forecasting market trends.
Write your response into the table below:
Question 2
Outline the legislative and regulatory context that impact marketing operations.
Write your response into the table:
Legislation/Codes/Standards | Summary of Key Provisions |
1. | |
2. | |
3. | |
4. | |
5. |
Question 3
Outline industry bodies that regulate the marketing space in Australia.
Write your response into the table:
Regulatory Body | Purpose | Codes/Standards/Guideline |
1. | ||
2. | ||
3. | ||
4. | ||
5. |
Question 4
Identify and outline software applications that are commonly used in quantitative and qualitative analysis.
Write your response into the table:
Data Processing Method | Strengths | Limitations |
1. | ||
2. | ||
3. |
Question 5
Using the table below, outline statistical concepts, methods, techniques and reporting formats commonly used in marketing.
Write your response into the table:
Statistical concepts, methods, techniques and reporting formats | Example |
conversion rate of leads to sales | |
measures of central tendency | |
measures of dispersion | |
correlation and regression analysis | |
net response rate | |
normal distribution probability curve | |
sampling | |
speed of response curve | |
frequency grids | |
lifetime value of customers | |
net present value of customers |
Feedback Evaluation Sheet
The Feedback Evaluation Sheet below is the assessment questions and tasks for each of the assessment events that the student is required to complete. Assessors, tick ‘S’ if the student achieved a satisfactory outcome for an assessment task and ‘NYS’ if the student does not meet these requirements. Also, you are required to write comments on the quality of this evidence under the ‘Comments’ column. For your judgement on the student’s overall performance, tick ‘Satisfactory’ if the student achieves a satisfactory outcome for all of the tasks or ‘Not-Yet-Satisfactory’.
Feedback Evaluation Sheet | |||
Assessment Event 1 Knowledge Questions | S | NYS | Comments |
Question 1 | |||
Question 2 | |||
Question 3 | |||
Question 4 | |||
Question 5 | |||
Feedback to Students:
|
|||
Assessment Outcome Satisfactory Not Yet Satisfactory | |||
Assessor’s Signature: | Date: |
BSBMKG507 Interpret Market Trends and Development – A1 6