Task 1 Collect market intelligence

Instructions to Candidate

This activity is related to the unit of competency BSBMKG512A Implement international market and business needs In particular, you will be required to demonstrate your skills and knowledge in relation to this unit of competency.

You may refer to your training materials and other research if required. The activity may be completed in the workplace or a simulated workplace.

Performance objective

Candidates will need to demonstrate an understanding of the activities and identification methods required to collate and evaluate market intelligence data.

Assessment description

For this report each candidate is required to select an organisation that has information on their international marketing activities readily available.

Candidates are welcome to select their own organisation, the organisation for which they work, an organisation they are familiar with, or an organisation suggested by the facilitator.

The organisation selected for this report will be used for subsequent Assessment Tasks as the project builds.

The report should address the collection and documentation of market intelligence, the evaluation of commercial market intelligence services, an analysis of market for relevance and applicability to the organisation's international business activities and an evaluation of marketing performance.

Procedure

1.Select an organisation for which you can access the information required. The organisation may be one with which you are familiar, for example, your own workplace or another as negotiated with your facilitator. The organisation you select here will be used in subsequent Assessment Tasks.

2.Identify the organisation and the target market/s it operates:

3.Identify sources of market intelligence relevant to your chosen organisation,including detail of any:

Internal and external information on international markets

Business advisory services

Databases

Financial institutions

Government organisations and advisory committees

Internet sources

Official statistics

Professional/trade associations and publications

Networking opportunities

Trade fairs, conferences and/or professional development opportunities

4.Evaluate commercial services that provide market intelligence, in terms of their value for money and the quality of their market intelligence

5.Gather, access and document market intelligence from a range of sources.

6.Collate and analyse market data for relevance and applicability to the organisation's internal business activity.

7.Evaluate the market performance of the organisation

Compile a report that addresses and evaluates all of the points above and includes:

Comparative analysis

Competitive analysis

Life cycle models

Product portfolio analysis

SWOT analysis

Value chain analysis

Ensure that:

The reports content, format and the level of detail meet standard conventions for reporting writing

The report is delivered to meet the deadline set by your facilitator

Specifications

You must provide a written report that:

Meets standard business report writing conventions in terms of:

oContent

oFormat

oLevel of detail

Addresses all of the requirements outlined in step 2-7 of the procedure

Is delivered by the deadline set by your facilitator

Your assessor will be looking for evidence of:

The identification, documentation and analysis of market intelligence

Your knowledge of marketing analysis tools

Culturally appropriate and sensitive communication skills (the ability to relate to people from diverse backgrounds)

The literacy skills necessary to write reports with complex ideas and concepts

Your marketing analysis skills

An understanding of the international cultural, historical, political and economic factors that may impact on international activity

Your knowledge of relevant legislation from all forms of government that affect business, codes of practice and national standards

For assessor use only:

Did the candidate

Feedback

Yes/No

Identify the organisation and the target market/s it operates

Identify sources of market intelligence relevant to your chosen organisation,including detail of any:

Internal and external information on international markets

Business advisory services

Databases

Financial institutions

Government organisations and advisory committees

Internet sources

Official statistics

Professional/trade associations and publications

Networking opportunities

Trade fairs, conferences and/or professional development opportunities

Evaluate commercial services that provide market intelligence, in terms of their value for money and the quality of their market intelligence

Gather, access and document market intelligence from a range of sources

Collate and analyse market data for relevance and applicability to the organisation's internal business activity.

Evaluate the market performance of the organisation

Compile a report that addresses and evaluates all of the points above and includes:

Comparative analysis

Competitive analysis

Life cycle models

Product portfolio analysis

SWOT analysis

Value chain analysis

Ensure that the reports content, format and the level of detail meet standard conventions for reporting writing

The report is delivered to meet the deadline set by your facilitator

Met standard business report writing conventions in terms of:

Content

Format

Level of detail

Address all of the requirements outlined in step 2-7 of the procedure

Deliver by the deadline set by your facilitator

Identify, document and analyse market intelligence

Use culturally appropriate and sensitive communication skills (the ability to relate to people from diverse backgrounds

Use the literacy skills necessary to write reports with complex ideas and concepts

Use marketing analysis skills

Have an understanding of the international cultural, historical, political and economic factors that may impact on international activity

Display knowledge of relevant legislation from all forms of government that affect business, codes of practice and national standards

Assessment 2

Task 2 - Review current business performance and evaluate marketing opportunities in international markets

Performance objective

Candidates need to review the current performance and international position of a business, identify the direction of the business and analyse the business' market strengths and capabilities. The identification and evaluation of trends that impact the business needs to be considered, along with the need to identify and analyse any legal, ethical and environment constraints

Assessment description

Write a report using the same organisation you selected for Assessment Task 1. Building on the feedback you received for the last assessment, you are required to review the business' performance and capabilities in its current market.

Procedure

1.Review your Assessment Task 1, applying feedback from your facilitator

2.Use the modified report from Assessment Task 1 to construct Assessment Task 2

3.Review current business performance and capability by:

Confirming the core activities, customer base, business values and current business direction of the organisation

Identifying current international marketing performance and the effectiveness of past international marketing or positioning

Reviewing performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity

Identifying and assessing current capabilities and resources in order to identify areas for improvement or exploitation within international markets

Identifying under-performing products and services within international markets for redevelopment or withdrawal

Confirming the strength and current competitive position of the business within international markets

4.Evaluate opportunities in a specific international market by:

Identifying and analysing trends and developments that impact international business activity for their potential impact on the business

Gathering and analysing comparative international market information as a basis for reviewing business performance

Analysing the international market performance of existing and potential competitors and their products or services in order to identify potential opportunities or threats within international business markets

Identifying and tapping sources of intelligence for advance warning of new products, services, technology or new international markets for the business

Identifying and analysing the legal, ethical and environmental constraints of the international market for their effect on international business activity

Ensure that:

The reports content, format and level of detail meet standard conventions for report writing

The report is delivered to meet the set deadline (as established by the facilitator)

Specifications

You must provide a written report that:

Meets standard business report writing conventions in terms of content, format and level of detail

Addresses all of the relevant requirements outlined in step 2-4 of the procedure

Demonstrates that you have reviewed current business performance and capability

Evaluates the specific international market in question

Is delivered on time (set by the facilitator)

Your assessor will be looking for:

A detailed analysis of international markets and the business including the collection of market intelligence, the review of current business performance and capability and the evaluation of specific international markets

A knowledge of marketing analysis tools

Your ability to evaluate current business performance

An evaluation and assessment of international markets and business requirements when entering new markets

Your ability to produce written reports with complex ideas and concepts

Your marketing analysis skills

A knowledge of:

oThe cultural, historical, political and economic climate of international markets

oMarket analysis tools

oKey provisions of relevant legislations from all forms of government that affect business operations, codes of practice and national standards, such as occupational health and safety, privacy and the Trades Practices Act.

oThe sources of external and internal information on international markets