BSBMKG512 Forecast international market and business needs

Assessment 2

Task 1 Collect market intelligence

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

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

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

Task 3 – Forecast international market and business needs

Procedure

1. Review and modify the reports created for Assessment Task 1 and 2 by applying the feedback from your facilitator.

2. Document how this organisation can meet the current and emerging needs of the target market by:

1. Identifying, analysing and documenting poor and under-serviced existing international market needs
2. Identifying changes in international markets that link positively to the organisations strength or capabilities
3. Considering the advantages and disadvantages of forecasting techniques in relation to the desired outcome
4. Forecasting and justifying emerging international market needs
5. Identifying the needs of the business

3. Write a report that integrates Assessment Task 1 and 2 as well as all the points listed above.

4. Present your report to your assessor

5. Prepare and deliver a 15-20 minute presentation based on your report

Guidelines for undertaking Assessment 2

Title: Name of the business/organization

Introduction: A brief introduction of your organization that you have chosen for your assessment task.

Objectives: A summary of your key assessments. Do not copy the same title.

Task 1: Collect market intelligence

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

Task 3: Forecast international market and business needs

PPT Presentation