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Evidence Guide: BSBMKG511A - Analyse data from international markets

Student: __________________________________________________

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Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

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BSBMKG511A - Analyse data from international markets

What evidence can you provide to prove your understanding of each of the following citeria?

Interpret trends and market developments

  1. Use statistical analysis of Australian and international market data to interpret international market trends and developments
  2. Analyse trends and developments within Australia and relevant international settings for their potential impact on international business activity within target market
  3. Identify aspects of culture that may have an impact on international business activity within target market
  4. Use measures of central tendency/dispersion and correlations between sets of data for quantitative interpretation of comparative international market data
  5. Perform qualitative analysis of comparative international market information as a basis for reviewing business performance in international settings
Use statistical analysis of Australian and international market data to interpret international market trends and developments

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse trends and developments within Australia and relevant international settings for their potential impact on international business activity within target market

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify aspects of culture that may have an impact on international business activity within target market

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use measures of central tendency/dispersion and correlations between sets of data for quantitative interpretation of comparative international market data

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Perform qualitative analysis of comparative international market information as a basis for reviewing business performance in international settings

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Interpret competitor market performance

  1. Analyse the international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats
  2. Compare international business performance to that of competitors to identify market position
Analyse the international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare international business performance to that of competitors to identify market position

Completed
Date:

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Report on market data

  1. Prepare, plot and interpret data for visual presentation
  2. Assess visual presentation for potential problems and take corrective action if necessary
  3. Ensure report meets organisational requirements in terms of content, format and level of detail
  4. Submit report within the required timeframe
Prepare, plot and interpret data for visual presentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess visual presentation for potential problems and take corrective action if necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure report meets organisational requirements in terms of content, format and level of detail

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit report within the required timeframe

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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.

Required Skills and Knowledge

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.

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:

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