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Student Assessment Guide BSBMKG401 Profile The Market Intellectual Property Statement VET Fair owns all copyright to its products as contained in the Copyright Act 1968. You must not in whole or part, reproduce this or any of our products, contextualise or customise or adapt, resell to any party or individual and make available to other stakeholders. Purchasers of our products are entitled to use these products for their operations, but the intellectual property remains with VET Fair; therefore, they will be required to identify VET Fair as the source on any modified, adapted or customised tools. Purchasers must include the following statement in each copy of a modified, adapted or customised resource that is distributed electronically or in a physical format to any target audience: “The assessment activities and information in this guide are derived from the BSBMKG401 Profile The Market assessment resources provided by VET Fair. VET Fair owns all copyright to this information and the intellectual property of this resource remains with VET Fair.” Breaches of this copyright will result in VET Fair claiming for loss of sales. The names of people and business entities used in these simulations are fictitious, and any resemblance to actual people or companies is not intended. Table of Contents Assessment Information1 Assessment Event 1 – Knowledge Questions2 Question 12 Question 22 Question 32 Question 43 Question 53 Question 63 Question 73 Question 84 Assessment Event 2: FitLife Pro-tec Simulation5 Task 1: Segment market5 1.1 Identify the criteria to segment the market5 1.2 Access sources of information for segmenting the market5 Task 2: Identify target markets7 2.1 Define target market7 2.2 Review factors to determine usefulness7 2.3 Review segments using usefulness factors7 2.4 Review segments alignment to organisational needs7 2.5 Profile target markets7 Task 3: Profile target audiences8 3.1 Identify and select positioning strategies for target markets8 3.2 Develop a positioning implementation plan8 3.3 Seek feedback and adjust positioning plan8 Appendix A: FitLife Simulation9 FitLife Simulation Background9 Simulation Phases9 Your Role in the Simulation9 Phase 1:9 Phase 2:9 Phase 3:9 Assessment Information Welcome to your Student Assessment Guide for BSBMKG401 Profile The Market. This Guide provides you with information on the assessment particularly what you have to do and to what level of performance. This assessment has the following two events: Assessment Event 1 – Knowledge Questions There are eight questions that will provide us with evidence of your general knowledge of marketing concepts, relevant legislation and other industry benchmarks. This assessment is completed in your own time and by a submission date provided by your Assessor. You may use support material in the development of your responses, but you must indicate the source. In addition, you must not ‘cut and paste’ content from your source, rather, use your words, unless it is a direct quote. Assessment Event 2 – Simulation: FitLife Pro-tec You will complete a number of tasks that will provide us with evidence of your skills with segmenting, targeting and positioning current and new products and services offered by FitLife. These tasks will be based on your role of Market Research Officer in a simulation with an organisation that provides programs and services for fitness and wellbeing. To complete the Simulation, you will need to refer to the following resources: FitLife Strategic Review This a report developed by a consultant on the current situation of FitLife and the planned marketing goals and objectives. Market Research Data This is an Excel spreadsheet of data relevant to the FitLife market. Policies and Procedures for FitLife This document is used throughout the implementation of Tasks 1-3 as they outline how to work in a health and safe way. Remember, you do not type your responses in this Student Assessment Guide, but use the Student Assessment Workbook, which is a separate document. This document is simply a guide to explain what you are required to do, and by doing so, this will assist you to perform at your best. Please note that your responses for both assessment events can (where appropriate) use dot point format. See below for 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 you will be conducting the simulation in etc. Performance required · 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. Please be aware that your Assessor is here to provide you with the necessary support throughout the assessment process. If you have questions, then contact them for guidance. Assessment Event 1 – Knowledge Questions These questions are theoretical and provide evidence of your understanding of legislation, industry associations, marketing concepts and terms. Each question includes the requirements which indicate what you have to do and the depth of your response to achieve a satisfactory result. Question 1 In the table below, identify relevant information relating to the Australian Marketing Institute Code of Professional Conduct: R1. identify two most relevant requirements relating to the Australian Marketing Institute Code of Professional Conduct R2. describe the application of the requirements to the marketing role R3. word count is approximately 40 words for each description. Relevant requirements Applications Question 2 In the table below, outline requirements of legislation affecting the role of a marketing researcher: R1. identify three relevant legislations affecting this marketing role R2. describe the key requirements for each legislation R3. describe how these requirements apply to this marketing role R4. word count is approximately 20 words for each description. Legislations Requirements Impacts Question 3 In the table below, explain data collection methods: R1. identify three data collection methods R2. explain the data collection method R3. explain two techniques of each method R4. word count is approximately 100 words. Data Collection Methods Explanations Techniques · · · Question 4 In the table below, explain data analysis techniques: R1. identify two qualitative data analysis techniques and two quantitative data analysis techniques R2. describe the typical process involved in each technique R3. provide an example of each technique R4. word count is approximately 30 words per description. Data Analysis Techniques Descriptions Examples Qualitative Analysis Quantitative Analysis Question 5 In the table below, identify the components of the marketing mix: R1. list three components of the marketing mix R2. list a minimum of three components of each mix R3. provide an example of issues to consider R4. total word count is approximately 40 words per explanation. Marketing Mix Components Components Issues to consider · · · · · · Question 6 In the table below, outline the elements of marketing planning: R1. identify three key activities in marketing planning R2. describe the characteristics of each activity R3. word count is approximately 20 words per activity. Activity Characteristics Question 7 In the table below, explain marketing communication concepts and processes: R1. identify three communication concepts R2. describe the typical process of each concept R3. word count is approximately 30 words per description. Communication Concepts Typical Process Question 8 In the table below, outline relevant statistical terms used by the Australian Bureau of Statistics: R1. identify three statistical terms used by the Australian Bureau of Statistics R2. define each term and its relevance to profiling the market R3. word count is approximately 15 words per definition. Statistical Terms Definitions Assessment Event 2: FitLife Pro-tec Simulation In this assessment, you will undertake a number of tasks associated with profiling the market for new health and fitness gadgets that could be used in FitLife Centres. In this simulation you will perform the following actions: · Segment the market · Identify the target market · Profile the target market · Develop a positioning strategy. Please ensure that you familiarise yourself with this set of requirements that underpin this simulation. This includes understanding the background of the simulation and the criteria you will be assessed on. These are located in the Appendix of this document. Task 1: Segment market In this task you will analyse the Strategic Review on FitLife and Market Research Data, then segment the market using appropriate criteria. 1.1 Identify the criteria to segment the market R 1. in the table below, identify criteria used in segmenting a market: · list six relevant criteria to segment the market · provide an explanation on each of the criteria R 2. word count is approximately 30 words for each criteria criteria explanation on selection · · · · · · · · 1.2 Access sources of information for segmenting the market R 1. review sources of information to assist in segmenting the market: · use the Strategic Review and the Market Research Data · use the internet to research Health and fitness latest gadgets · summarise data and information for each of the six criteria identified in task 1.1 R 2. word count is approximately 50 words for each criteria. criteria summary of data · · · · · · · · · Task 2: Identify target markets In this task you will use the information provided to identify the most preferred target and then research secondary data to develop profiles. 2.1 Define target market R 1. list groups t consider as prospective users of products and services R 2. word count is approximately 50 words. 2.2 Review factors to determine usefulness R 1. list and explain five relevant factors to gauge the usefulness of the segments listed in Task 1.1 R 2. word count is not critical. 2.3 Review segments using usefulness factors R 1. use these factors from the task 1.3 to identify useful segments R 2. with each segment chosen, provide a reason to substantiate your selection R 3. word count is approximately 40 words for each segment.