BSBMKG506 Assessment Task 2: Market Research Planning Project

Task summary

This assessment task requires you to plan market research for a company of your choice and to make a presentation to your team on the market research to be conducted.

This assessment is to be completed in the simulated work environment in the RTO.

Required

  • Access to textbooks/other learning materials
  • Computer with Microsoft Office and internet access
  • Meeting space with beamer and screen for presentation

Timing

Your assessor will advise you of the due date of these submissions.

Submit

  • Draft of an email along with Market Research Plan Presentation
  • Draft of an email along with Revised Presentation

Assessment criteria

For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed,you will be asked to complete further assessment to demonstrate competence.

Re-submission opportunities

You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Assessment Task 2 Instructions

Complete the following activities:

1. Prepare to plan market research.

You can choose a company and use its Marketing Plan by viewing the site http://www.mplans.com/ or by researching the Internet for a Marketing Plan for a company that you are interested in.

Note that the marketing plan must include sufficient information in order to be able to complete this assessment. This means the marketing plan must include business goals, background to the company, target customers, marketing/branding strategy, sales forecasts and marketing budget.

Before you start the assessment task, you should discuss your choice of company with your assessor, who will need to approve your choice before you start the assessment project. If you are having difficulty sourcing a suitable Marketing Plan, your assessor can assist you to source one.

For the purposes of this assessment, assume that you are the Marketing Manager of the company that you have chosen and that your assessor is the Managing Director. Assume that the location of the business is in the city or suburb you are living in. You have a budget of $25,000 for market research and a timeline of 2 months.

Review the Marketing Plan for the company you have chosen to ensure you understand its business objectives, customers and current marketing strategies, as well as any previous market research conducted. Where the marketing plan does not refer to any market research conducted by the company, assume that: to date the company has only conducted limited market research to identify the market need for the company’s product or service when the company was established.

Based on your review, identify at least two market research needs for the company. This may be to address a specific issue or general market research on segmentation and aspects of the marketing mix including products or services, pricing, promotional activities/strategies and distribution channels.

2. Develop a market research plan presentation.

When you have completed your review, you will be required to prepare a presentation to discuss your proposed market research with your team.

Your presentation should last for approximately 30 minutes and you will be required to develop PowerPoint (or other presentation software) slides for it.

Save the file as Market Research Plan Presentation.

Assume that the Managing Director (your assessor) is not a marketing expert, so the information that you present needs to be clear and easy to understand.

Develop a presentation that addresses the following.

  • An overview of the company: its products/services, competitors, customers, stakeholders, their market, goals and objectives
  • An overview of the function and importance of market research and the contribution it can make to a business.
  • The market research needs you have identified and your rationale for identifying these needs.
  • Market research objectives, that is the key information needs that market research is to address. Market research objectives should be written as SMART objectives.
  • An overview of the proposed market research including:
    o Market research methodology: the methods that will be used to conduct the research
    o Stakeholders to be involved in market research
    o Resource requirements for the project (human and financial)
    o Assumptions and constraints impacting on the market research
    o Planned deliverables arising from the market research
    o Risks associated with the market research
    o Timelines and milestones

3. Prepare a draft of an email to be sent to your assessor.

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment, seektheir feedback and ask for the place, date and time of their presentation.

Submit your Market Research Plan Presentation along with the draft of the email.

4. Conduct your presentation.

Practice your presentation prior to giving it to ensure that your delivery is measured, confident and understandable.

During the presentation you will be required to demonstrate effective communication skills including:

  • Speaking clearly and concisely
  • Using non-verbal communication to assist with understanding
  • Asking questions to identify required information
  • Responding to questions as required
  • Using active listening techniques to confirm understanding

At the end of your presentation, invite the team to provide feedback on your presentation and the proposed market research, including research objectives. You should also ask the team to provide input on any research needs you may not have considered.

Your assessor and/or colleagues in the role of your team will provide you with feedback and you should use this to inform your planned market research, including objectives.

Your assessor will also provide you with some unexpected feedback, which you will have to take into account in your planned market research.

5. Review your market research plan presentation.

Following the presentation, modify your presentation to reflect the changes indicated by your assessor and other members of your group.

Save this file as Revised Presentation.

6. Prepare a draft of an email to your assessor.

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment.

The email text should also summarise the changes you have made to your planned market research, including changes to objectives, based on feedback provided at the presentation.

Submit your Revised Presentation along with this email.