Part 1: (approx. THREE TO FIVE pages) Total Competency Part 1

a.Identify a problem in the business which could be improved by doing Market Research into the competitors. Present it to College Management to get their approval to conduct the research as follows:

i.a written explanation/definition of the problem and how you will communicate the role of market research (approx. HUNDRED words)

ii.a 'statement' of market research needs (approx. HUNDRED words)

iii.show evidence of the approval (Email, memo etc)

b.Draft your initial 'objectives' for the Market Research

i.include both your draft(first) copy and final copy (see point 4) in your assessment

c.Conduct 'Scoping' - including, but not limited to the following areas:

i.identify businesses strengths

ii.identify Key Competitors and their strengths

iii. current businesses products and attitudes of consumers

iv.industry awareness of the business, Key competitors (and their products/branding etc)

v.pricing of current products at the business and competitors

vi.other relevant areas.......

d.List references and personnel involved in the 'Scoping' process.Identify how you will consult with relevant personnel on draft research objectives to ensure relevant information is gathered

e.Amend and finalise 'objectives' as a result of the above 'scoping'.

i.include a list of the final objectives.

f.Identify possible types of data required to fulfil objectives

g.Draft methods to collect that data

Part 2 Total Competency Part 2:/10

a.Develop a formal market research plan (to meet the needs and objectives that you already defined): The plan should include specific information about each area listed below and should result in a total plan which could be implemented by another person. (It should be THREE TO FOUR pages)

i.List types of data that will be gathered

ii.Explain the methods used to collect and analyse data and their sources

iii.Estimate the resources required (be specific)

iv.List the relevant legislation applicable to this project (min 2 clearly identified pieces of legislation)

v.The timeline & time frames(be specific)

vi.Establish a budget

vii.Research the location

viii.Determine feasibility

ix.Get final approval (i.e. email or letter, must be an actual email).

Part 3 Total Competency Part 3:

(a)"Scoping" exercises (above: actually physically gathering the information and not from only one source...i.e. the internet)