Course Title: Plan and interpret market research
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: MKTG6119C
Course Title: Plan and interpret market research
School: 525T Business & Enterprise
Campus: City Campus
Program: C5404 - Diploma of Marketing and Communication
Course Contact: Nick Reynolds
Course Contact Phone: +61 3 9925 0791
Course Contact Email: nick.reynolds@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Elvira Lourenco
elvira.lourenco@rmit.edu.au
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.
Pre-requisites and Co-requisites
None
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.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBMKG543 Plan and interpret market research |
Element: |
1. Plan market research |
Performance Criteria: |
1.1 Identify market research objectives and requirements 1.2 Identify and select data collection methods 1.3 Develop market research plan |
Element: |
2. Perform market research |
Performance Criteria: |
2.1 Obtain approval from relevant personnel to undertake market research 2.2 Conduct research according to market research plan developed 2.3 Collate and document research |
Element: |
3. Assess results of market research |
Performance Criteria: |
3.1 Analyse data obtained from market research using statistical and qualitative techniques 3.2 Forecast existing and emerging market needs based on the market research 3.3 Identify threats and opportunities for future marketing activity |
Element: |
4. Report on market research |
Performance Criteria: |
4.1 Interpret and prepare data for presentation 4.2 Review presentation and rectify errors, where required 4.3 Present research findings to relevant stakeholders |
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.
Details of Learning Activities
This course is structures to provide you with the optimum learning experience. A range of learning activities are provided during the semester and are designed to enhance learning and understanding of the topics.
You will participate in a combination of group and individual learning activities. These activities will be provided through classroom work time and additional learning activities will be provided to you to complete outside of the scheduled class time.
A range of in class activities, case studies and independent research is included as the learning activities for this course. We expect you to participate and contribute in all scheduled learning activities.
The learning activities will also include group discussion, group problem solving activities and opportunities to practice your skills in a simulated workplace environment.
Teaching Schedule
Course Schedule: Plan and interpret market research (Semester 1: 2024) | |||
Week |
Week Commencing |
Topic, Readings and Activities |
Assessment |
1 |
12/2 |
Introduction to the Course including:
Reading: Course Guide and Assessment overview Activity: Exploring course schedules and discussion |
|
2 |
19/2 |
Research terms, definitions and calculations |
|
3 |
26/2 |
Research terms, definitions and calculations |
|
4 |
4/3 |
QT1 - Knowledge Quiz |
AT1 Quiz |
5 |
11/3 |
Research planning |
|
6 |
18/3 |
Secondary research |
|
7 |
25/3 |
Primary research |
AT2 |
Mid-Semester Break - 29 March to 8 April | |||
8 |
8/4 |
Codes of conduct |
|
9 |
15/4 |
Research Findings |
|
10 |
22/4 |
Using data findings |
|
11 |
29/4 |
Analyse results |
|
12 |
6/5 |
Projective techniques |
|
13 |
13/5 |
Forecast market needs |
AT3 P1 |
14 |
20/5 |
Report on data |
AT3 P2 |
15 |
27/5 |
Research report writing |
AT3 P3 |
16 |
3/6 |
Unit recap of key learnings | |
17 |
10/6 |
Feedback and Re-submissions
Finalise Resubmits |
Learning Resources
Prescribed Texts
References
Other Resources
All resources will be available in Canvas.
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.
Assessment Tasks
Assessment 1
This assessment task is the first of three assessment tasks that the student must successfully complete to be deemed competent in this unit of study.
This assessment tasks assess a student’s knowledge in tools and information required in forecasting market trends including statistical concepts, methods and techniques and reporting formulas commonly used in market research.
Assessment 2
This assessment task is the second of three assessment tasks you must complete for this course. You must be satisfactory in all assessments to be deemed competent in this course.
This assessment task assesses your skills and knowledge in preparing a Market Research Plan appropriate for a product or service based on a Research Brief provided. The Market Research Plan will be used to conduct market research in Assessment Task 3.
Assessment 3
This assessment task is the third of three that you must complete for this course. You must be satisfactory in all assessments to be deemed competent in this course.
This assessment task assesses your skills and knowledge in conducting research as per the Market Research Plan (Assessment Task 2), analyse the research and report on the findings in the form of a Research Report and summary presentation.
Due Dates:
Part 1: (Analyse research) Due: Semester Week 13, Sunday 11:59pm
Part 2: (Report) Due: Semester Week 14, Sunday 11:59pm
Part 3: (Presentation) Due: Semester Week 15, Sunday 11:59pm
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS.
Other Information
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions:
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
Marking Guide (Competency):
Feedback on your assignment and your results will be released via the rubric on Canvas. Assessment tasks will receive the following outcomes:
Satisfactory
Not Satisfactory
DNS (Did not Submit)
There are 3 assessments for this course, students must be deemed satisfactory i n all 3 assessments to be competent in this course.
Course grades will be given as:
CA (Competency Achieved)
NYC (Not Yet Competent)
DNS (Did not submit)
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Further information regarding the application of the grading criteria will be provided by your teacher.
Course Overview: Access Course Overview