- BSBMKG511A - Analyse data from international markets
Assessor Resource
BSBMKG511A
Analyse data from international markets
Assessment tool
Version 1.0
Issue Date: May 2024
This unit applies to individuals with managerial responsibility for interpreting international trends and market developments, interpreting competitor market performance and reporting on market data. The purpose and intent of reporting on market data is to assist the organisation to target marketing activities and to draw up marketing plans.
This unit describes the performance outcomes, skills and knowledge required to analyse data from international markets.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
Employability Skills
This unit contains employability skills.
Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: analysis of market data to inform the process of targeting marketing activities and the drawing up of a marketing plan examples where the candidate has analysed and reported on market data, including interpreting trends and market developments and competitor market performance data documentation of results of analysis in a report knowledge of cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity. |
Context of and specific resources for assessment | Assessment must ensure: access to an actual workplace or simulated environment access to office equipment and resources access to workplace documents including completed reports access to information sources used by candidate. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate review of comparison of international business performance to that of competitors analysis of responses to case studies and scenarios demonstration of data analysis techniques observation of presentations oral or written questioning to assess knowledge of international markets and strategies assessment of data analysis reports. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: BSBMKG517A Analyse consumer behaviour for specific international markets. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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Required skills |
analytical skills to profile international markets, audiences and segments culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities evaluation and assessment skills to investigate international business opportunities literacy skills to write reports with complex ideas and concepts technology skills to use a range of software to collect and analyse international market data. |
Required knowledge |
cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity identification and overview knowledge of key provisions of relevant legislation from all levels of government that affects business operations, codes of practice and national standards, such as: Customs Act Dangerous Goods Act International Commercial Terms (INCOTERMS) trade modernisation legislation: Customs Legislation Amendment and Repeal Act, Import Processing Charges Act, Customs Depot Licensing Charges Amendment Act Trade Practices Act Warsaw Convention World Trade Organisation determinations sources of external and internal information on international markets research, data analysis and statistical analysis techniques relevant to market data variety of statistical techniques for use in analysing market data. |
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Statistical analysis may include: | measures of central tendency measures of dispersion nature and degree of relationship between variables normal distribution probability curve sampling time series analysis |
Trends and developments may include: | changes in technology demographic trends ecological/environmental trends economic trends (local, regional, national, international) government activities e.g. interest rates, deregulation industrial trends political events such as: wars internal conflicts forthcoming elections social and cultural factors |
Aspects of culture may include: | attitude of overseas countries to Australia and Australians degree of fiscal conservatism or liberalism within culture family structures, and usual purchasers and decision makers in families religion values and beliefs |
Measures of central tendency/dispersion and correlations may include: | benchmarking against Australian performance cross-tabulations grouped or ungrouped data inter-firm comparison data international benchmarking mean median mode Z, T and chi square tests |
Comparative international market information may include: | benchmarking against Australian performance best practice information inter-firm comparison data international benchmarking |
Opportunities may include: | cooperative ventures extending, expanding or otherwise changing an existing business franchising joint ventures new products or services for existing markets new products or services for new international settings or within other regions of existing international settings potential for greater penetration of existing markets with existing products or services strategic alliances |
Visual presentation may include: | desktop published reports of market data graphical data including pie/bar/column graphs material using a variety of media such as video, audio, CD-ROM, photographs, slides, film |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
|---|---|---|---|
| Use statistical analysis of Australian and international market data to interpret international market trends and developments | |||
| Analyse trends and developments within Australia and relevant international settings for their potential impact on international business activity within target market | |||
| Identify aspects of culture that may have an impact on international business activity within target market | |||
| Use measures of central tendency/dispersion and correlations between sets of data for quantitative interpretation of comparative international market data | |||
| Perform qualitative analysis of comparative international market information as a basis for reviewing business performance in international settings | |||
| Analyse the international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats | |||
| Compare international business performance to that of competitors to identify market position | |||
| Prepare, plot and interpret data for visual presentation | |||
| Assess visual presentation for potential problems and take corrective action if necessary | |||
| Ensure report meets organisational requirements in terms of content, format and level of detail | |||
| Submit report within the required timeframe |
Forms
Assessment Cover Sheet
BSBMKG511A - Analyse data from international markets
Assessment task 1: [title]
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Assessment Record Sheet
BSBMKG511A - Analyse data from international markets
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Assessment task 1: [title] Result: Competent Not yet competent
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Overall assessment result: Competent Not yet competent
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