In the table below, outline internal and external sources of information relevant to forecasting market trends.
R 1. Identify whether the source is internal or external
R 2. provide three examples where each can be sourced
R 3. explain how each relates to forecasting marketing trends
R 4. word count is approximately 50 words per source.
|Source of information||Internal/External||Where can be sourced||How it relates to forecasting|
|Business and strategic objectives|
|Marketing and Business performance|
|Comparative market information|
|Changes in technology|
|Social and cultural factors|
|Government activities and legislative changes|
Outline the legislative and regulatory context that impact marketing operations.
R 1. list five legislation and five codes relevant to marketing operations:
· correctly write the name and date of each item
· these names and dates must be current
R 2. for each list item, provide a summary of key provisions on marketing operations
R 3. word count is approximately 25 words per summary.
Outline industry bodies that regulate the marketing space in Australia.
R 1. list five industry bodies:
· correctly write their name
· these bodies must be current
R 2. for each body:
· provide reference to its corporate website
· explain its main purpose
· list an example of code, standards or guidelines it currently administers
R 3. word count is approximately 25 words per body.
Identify and outline software applications that are commonly used in quantitative and qualitative analysis.
R 1. identify three software applications
R 2. provide three strengths and three limitations of each
R 3. word count is approximately 50 words per application.
Using the table below, outline statistical concepts, methods, techniques and reporting formats commonly used in marketing.
R 1. provide an example of how each table item can be used in market analysis
R 2. word count is approximately 25 words per item.
|Statistical concepts, methods, techniques and reporting formats||Example|
|conversion rate of leads to sales|
|measures of central tendency|
|measures of dispersion|
|correlation and regression analysis|
|net response rate|
|normal distribution probability curve|
|speed of response curve|
|lifetime value of customers|
|net present value of customers|