BSBMKG506 Assessment Task 3: Develop a Market Research Plan

Task summary

This assessment task requires you to plan the type of data that you will collect and how you will collect it, as well as the costs of collection and analysis.
Once you have completed this, you will record this information in a market research plan. This will include the information that you identified and confirmed with your team.

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

Timing

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

Submit

• Draft of an email along with research and analysis report
• Draft of an email along with market research plan

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 3 Instructions

Complete the following activities:

1. Write a research and analysis report.

Research and analyse data gathering approaches to be recorded in your market research plan.

Your report should be approximately one to two pages long.
Save it as Research and Analysis Report.

Your report should include the following:

• The types of data that could be used in relation to the planned market research e.g. quantitative and/or qualitative and primary and/or secondary
• The range of possible methodologies for collecting the data e.g. interview, focus groups, surveys, analysis of statistics, etc.
• Possible combinations of types of data and data collection methods
• How much data is needed e.g. if you are conducting interviews or focus groups, how many?
• Data sources e.g. sources in relation to secondary data.
• How the data will be processed and reviewed (e.g. manually or using software) and why.
• The costs of the data collection methods discussed.
• Your recommended options for collecting and analysing the data, including a consideration of the costs of data collection against the budget.

Your report must be written in clear and concise English and be professional presented and use clear headings.

2. 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 and seektheir feedback and approval to move forward with the project.

The email text should outline your analysis and recommendations for data gathering and request their approval for this.

Submit your Work-Life Balance Report along with thedraft email.

3. Develop a market research plan

You are now required to develop a market research plan for approval by the Managing Director.

Use the market research plan format as shown at:
https://www.pandadoc.com/market-research-proposal-template

Your plan will essentially summarise the work that you completed in Assessment Task 2 as well as your research and analysis report with regards to data analysis.

Your plan should be clear and sufficient detailed, be professionally presented and include the following:

• Background to the planned market research: a summary of the information from your power point presentation
• Objectives of the planned market research
• Research methodology including types of data, data collection methods
• Data analysis methodology
• Timelines for conducting the research
• Costs of conducting the research, in accordance with the budget given.

4. 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 use clear and concise English to explain key concepts in the plan

The email text should refer to the plan attached and should also include a clear recommendation for why you believe the market research should be conducted.

The recommendation should convince your Managing Director to undertake the research, so it needs to be sufficiently detailedand provide a strong argument for undertaking it.

Also submit your market research plan along with draft of email.

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