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Elements and Performance Criteria

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

Required Skills

Required skills

facilitation and presentation skills to present statistical findings

literacy skills to prepare reports containing complex ideas and concepts

numeracy skills to use a range of statistical analysis techniques and elementary probability

Required knowledge

economic social and industry directions and trends

key provisions of relevant legislation from all forms of government codes of practice and national standards that may affect aspects of business operations such as

antidiscrimination legislation

consumer laws including appropriate stateterritory legislation

ethical principles

marketing codes of practice and conduct such as the Australian Direct Marketing Association ADMA Direct Marketing Code of Practice

privacy laws

Trade Practices Act

software applications especially spreadsheets and statistical packages and use of the internet

statistical methods and techniques and reporting formats

Evidence Required

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

applying a range of statistical techniques to analyse market trends and developments current marketing performance and comparative market information

documenting analysis of market data including visual presentation of findings

Context of and specific resources for assessment

Assessment must ensure

access to office equipment and resources

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

analysis of responses to case studies and scenarios

assessment of written reports presenting findings of statistical analysis

demonstration of statistical and forecasting techniques in the workplace

direct questioning combined with review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

observation of presentations

oral or written questioning

review of authenticated documents from the workplace or training environment

review of testimony from team members colleagues supervisors or managers

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

BSBMKGB Profile the market

BSBMKG401B Profile the market

BSBMKGB Analyse consumer behaviour for specific markets

BSBMKG402B Analyse consumer behaviour for specific markets

BSBMKGB Identify and evaluate marketing opportunities

BSBMKG501B Identify and evaluate marketing opportunities.


Range Statement

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:

conversion rate of leads to sales

measures of central tendency particularly for such things as:

average order value

average response rate

measures of dispersion

nature and degree of relationship between variables

net response rate

normal distribution probability curve

sampling

time series analysis such as:

speed of response curve

recency or frequency grids

lifetime value of customers

net present value of customers

Data may include:

charts

curves

graphs

spreadsheets

Market trends and developments may include:

changes in technology

changes in supplier prices

demographic trends

ecological and environmental trends

economic trends (local, regional, national, international)

government activities e.g. interest rates, deregulation

industrial trends

penetration of new technologies

social and cultural factors

Measures of central tendency or dispersion and correlations may include:

cross-tabulations for grouped or ungrouped data

mean

median

mode

Z, T and chi square tests

Sets of data may include:

geodemographic segmentations available from proprietary suppliers such as:

ACORN

MOSAIC

PRIZM

segmentation by customer lists such as:

average order value by units or dollars

geography

lifetime value by units, dollars and transactions

recency and frequency or response/purchase

segmentation of the prospect list by:

demographic match with customers

geographic match with customers

psychographic match with customers

Comparative market information may include:

best practice information

books and articles, including:

academic

business

general

industry

brochures

direct mail packages

documentaries and interviews on broadcast media

inter-firm comparison data

international benchmarking

internet

public or proprietary research

speeches

Performance of existing and potential competitors may include:

comparisons about:

corporate share price

market share

number of customers

profitability

sales in units or dollars

Opportunities may include:

alliances

cooperative ventures

exports

extending, expanding or otherwise changing an existing business through:

increasing customer numbers

increasing average order value

increasing lifetime value of the customer

reducing costs of marketing

improving current products/services

developing new distribution channels

franchising

joint ventures

new products or services for existing markets

new products or services for new markets

potential for greater penetration of existing markets with existing products or services

strategic alliances

Threats may include:

new competitor entering the market

new products or services being launched by existing competitors

increased number of inactive customers resulting in reduced average lifetime

reduced average order value resulting in reduced average lifetime value

Forecasting techniques may include:

Delphi techniques

model building

projection

scenario planning

surveys of intentions

top-down forecasting bottom-up forecasting