Avail BSBMKG507 Interpret Market Trends And Developments Assignment Question and Answer
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Assignment Details:
- Referencing Styles : Harvard
- Course Code: BSBMKG507
- Course Title: interpret market trends and developments
- University: Swinburne University of Technology
- Words: 1200
- Country: AU
Questions:
For this assessment, you are to read the questions and respond in writing with the most suitable answer. There are four (4) questions, all of which must be completed.
Project
For this assessment you are to write a report for your shareholders based on your market analysis and Business Performance analysis.
1. Identify sources of information for each of the below items (at least two for each):
| Information for forecasting market trends | Sources of information |
| a) business and strategic objectives | Business plan, Management meetings |
| b) marketing and other business performance | ROI – Return on Investment, Profit and Loss statements and Financial Data |
| c) comparative market information | Competitors website, Bureau of Statistics. |
| d) changes in technology | Magazines, YouTube, Internet, Blogs |
| e) demographic changes | Bureau of Statistics, local community, Internet |
| f) social and cultural factors | Community groups, leaflets, pamphlets |
| g) economic trends | Internet, Newspapers, Financial reports |
| h) government activities and legislative changes | Internet, Government website, social media |
| i) industry trends | Magazines, Professional networks, Competitors website. |
2. Identify 2 pieces of legislation that relate to marketing activities and briefly summarise the key points
Australian Consumer Law:
https://consumerlaw.gov.au/australian-consumer-law
3. Identify two software applications that are commonly used in quantitative and qualitative analysis and outline their key features.
4. Briefly outline what are each of the below statistical concepts, methods, techniques and reporting formats commonly used in marketing below:
| Concepts, methods, techniques and reporting formats | Outline |
| a) conversion rate of leads to sales | How many leads were actually converted to sales? Explain leads Ways? |
| b) measures of central tendency | Explain Central Tendency: averages expressed as numbers |
| c) measures of dispersion nature and degree of relationship between | Explain dispersion: Variance and Std Deviation. Tightness of your distribution |
| d) net response rate | How many people responded to the marketing activity or responded to a survey. |
| e) normal distribution probability curve sampling | Bell shaped curve used to measure or illustrate the tightness of a distribution. |
| f) speed of response curve | How quickly people are responding to a marketing activity. |
| g) recency or frequency grids | How often something happens or recent it is. It analyses how recently customer bought something, how often and how much they spend on it. |
| h) lifetime value of customers | Predicts how much a particular customer will give you profit over this lifetime |
| i) net present value of customers | Future potential profit possibility from customers. Take inflation into consideration. |