BSB52415 Diploma of Marketing and Communication
Section 1 – Interpret trends and market developments
- Why is statistical analysis a necessary part of market research?
- What is the purpose of statistical analysis in a business context?
- Briefly explain the following terms:
- Measures of central tendency
- Mean and median
- Briefly explain the following terms
- Measures of dispersion
- Correlation
- List at least five market trends or developments that might impact on your business.
- How could you apply the statistical data you obtain on competitors to guide your business decisions?
- What techniques could you use to analyse competitive information?
Section 2 – Analyse qualitative results
- List at least five different types of qualitative data that you would analyse to determine the success of marketing activities in the business.
- Why is it necessary to determine whether products and services are over or under performing?
- Why is it important to forecast existing and emerging market needs?
- List at least five methods that you could use to forecast market needs.
- Who should be involved in the forecasting process?
Section 3 – Report on market data
- Why is it necessary to plot and interpret data for visual presentation?
- What tools and support might you need to do this? Give at least 5 specific examples.
- What are some of the problems that might occur in preparing visual representations of data?
- What are some of the questions you should ask yourself when preparing to write your report that will include these visual representations?
- How would you determine whether or not your report meets the organisation’s requirements for content, format, level of detail and scheduling?