Course Title: Plan and interpret market research

Part A: Course Overview

Program: C5404 Diploma of Marketing and Communication

Course Title: Plan and interpret market research

Portfolio: Vocational Education

Nominal Hours: 50

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

MKTG6119C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face

 Term1 2022,
Term2 2022,
Term2 2023,
Term1 2024

Course Contact: Nick Reynolds

Course Contact Phone: +61 3 9925 0791

Course Contact Email: nick.reynolds@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to plan market research and conduct an analysis to report and interpret findings.

The unit applies to individuals who conduct market research planning at a managerial level. These individuals may have a good general knowledge of market research as well as a detailed understanding of the organisation’s operations, objectives and application.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

BSBMKG543 Plan and interpret market research

Elements:

1. Plan market research

2. Perform market research

3. Assess results of market research

4. Report on market research

Learning Outcomes

This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to plan market research and conduct an analysis to report and interpret findings.


Overview of Assessment

Assessment Methods

Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:

  • direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
  • review of final printed documents
  • demonstration of techniques
  • observation of presentations
  • oral or written questioning to assess knowledge of software applications

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • plan and interpret market research for one product or service.

In the course of the above, the candidate must:

  • identify market research objectives, requirements, data collection methods
  • develop a marketing research plan
  • research and collate market findings
  • obtain required approvals
  • apply analysis techniques to identify:
  • potential threats and opportunities
  • existing and emerging market needs
  • document the analysis of market research and present findings.


Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • internal and external sources of information relevant to forecasting market trends including:
  • business and strategic objectives
  • comparative market information
  • changes in technology
  • industry trends
  • social, cultural and economic trends
  • political activity and legislative changes
  • content and development of market research plan
  • software applications that are commonly used in quantitative and qualitative analysis
  • codes of practice and conduct relevant to marketing
  • market research principles and practices including:
  • project design according to timelines and budget requirements
  • development and use of hypothesis
  • role of research in enterprise development
  • statistical concepts, methods, techniques and reporting formulas commonly used in market research including:
  • conversion rates of leads to sales
  • measures of central tendency
  • measures of statistical dispersion
  • nature and degree of relationship between variables
  • net response rate
  • normal distribution probability curve
  • sampling
  • recency or frequency grids
  • lifetime value of customers
  • net present value of customers.


Feedback

Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.