BSBMKG512 Forecast international market and business needs

Assessment Tasks

(Learner Copy)

Student Name
Unit Date Started
Unit Date Submitted
Trainer/Assessor Name and Signature

Australian Careers College Pty. Ltd

Darwin City College

1/48 Woods St,

Darwin, NT 0800

Parap College

37 Gregory St, Parap, NT 0820

Sydney College

586-590 Parramatta Road, Petersham, NSW 2049

Assessment information

This book contains all of the assessment tasks required for completion of unit

BSBMKG512 Forecast international market and business needs Prior to commencing the assessments your assessor will explain each assessment task to you. You will be given the opportunity to ask questions and to seek clarification on any of the activities. Of course, your assessor will be available at other times to answer any of your questions.

ELEMENT	PERFORMANCE CRITERIA
1. Collect market intelligence	1.1. Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities 1.2. Identify and access further sources of market intelligence 1.3. Evaluate commercial services providing market intelligence for value-for-money and quality of market intelligence, and access as required 1.4. Collate and analyse market for relevance and applicability to the organisation’s international business activity and undertake an evaluation of marketing performance
2. Review current business performance and capability	2.1. Confirm core activities, customer base, business values and current business direction 2.2. Identify current international marketing performance and effectiveness of past international marketing or positioning 2.3. Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity 2.4. Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets 2.5. Identify under-performing products or services within international markets for re-development or withdrawal 2.6. Confirm the strength and current competitive position of the business within international markets
3. Evaluate the specific market	3.1. Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business 3.2. Gather and analyse comparative international market information as a basis for reviewing business performance 3.3. Analyse the market performance internationally of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets 3.4. Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business 3.5. Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity
4. Document how business can meet current and emerging needs of the target market	4.1. Identify, analyse and document poor/under-servicing of existing international market needs by the organisation and/or its competitors 4.2. Identify changes in international markets that link positively to the organisation’s strengths or capabilities 4.3. Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements 4.4. Forecast and justify emerging international market needs in terms of available information 4.5. Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE

This section describes the skills and knowledge required for this unit.

Required skills

analytical skills to evaluate current business performance culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities evaluation and assessment skills to gather and analyse international market and business requirements when creating market forecasts forecasting skills literacy skills to write reports with complex ideas and concepts market analysis skills technology skills to use a range of software to create forecasts.

Required knowledge

cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity market analysis tools identification and overview knowledge of key provisions of relevant legislation from all levels of government that affects business operations, codes of practice and national standards, such as: occupational health and safety privacy Trade Practices Act World Trade Organisation determinations software programs and electronic media available to conduct forecasting sources of external and internal information on international markets range of products or services marketed by business in international settings.

If at any stage of the assessments your assessor believes that the safety of anyone is in jeopardy, the assessment will be stopped.

Assessment Plan

Assessment Plan BSBMKG512 Forecast international market and business needs
Student’s name
Student’s ID No:
Assessment Activity	Date commenced	Date completed	Assessor sign once completed
Written Assessment 1:
Assessment 2: Task 1
Assessment 2: Task 2
Assessment 2: Task 3
Action	Y	N
RPL / Accelerated progression required
Language / Literacy / Numeracy support required
Student handbook supplied
Appeals process explained
Overview on assessment procedure explained
Questions asked by student and responses given by assessor

Student’s signature		Date
Assessor’s signature		Date

Recognition of Prior Learning

RPL Evidence Guide
Students who require RPL or accelerated progression must produce verifiable documentary evidence of their competence in the following competency standards: BSBMKG512 Forecast international market and business needs
Student’s name
Assessor’s name
Date enrolled

Please see your assessor for an RPL kit, to be completed and presented to your assessor with required evidence. An appointment will then be set for a competency conversation. Your assessor will explain all evidence requirements for this unit of competency.
Suggested evidence
Letter from current/previous employer Answers to written questions Answer to oral questions Practical demonstration
Action
Assessment plan agreed
Student handbook supplied
Support materials provided
Invoice supplied
Language / Literacy / Numeracy needs discussed
Special/particular needs discussed
Appeals process explained
Overview on assessment procedure explained
Pre-evaluation of job conducted
Copy of evidence provided
RPL Evidence Guide
Additional requirements

Student’s signature		Date
Assessor’s signature		Date

Assessment 1 – Written assessment

BSBMKG512 Forecast international market and business needs
Name of Student
ID NO
Date of Assessment

Students are required to answer all the questions. All answers should be written in the spaces provided on the questionnaire. You may refer to your text to assist you in answering the questions.

Q1. What do you understand by international trade and what are the factors that may have an impact on international business activity?

___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Q2. What are market analysis tools? Give three examples where market analysis tools can be applied with regards to international trade.

Q3. Workplace health and safety authorities in each state and territory and Safe Work Australia have responsibilities for enforcing the OH&S legislation. They provide information and advice on safety and health at work. OHS standards in the workplace are important to get right. Employees and employers both have OHS rights and responsibilities. Give two responsibilities each for employer and employee to ensure compliance with the Act.

Q4. The Fair Trading Act 1989 allows to make provision with respect to certain unfair or undesirable trade practices, to regulate the supply of goods and services, to provide for a commissioner for fair trading and for related purposes. What is the principal objective of the Fair Trading Act 1989?

Q5. Which information processing guidelines are outlined in the Queensland Information Privacy Act 2009?

Q6. Briefly explain why it is important that a manager understands ethical principles and behaves in an ethical manner.

Q7. What is the main objective of the Trade Practices Act 1974?

Q8. Business information is an indispensable managerial resource. The amount of business information available is increasing in step with advances in information and communication technologies. International trade can also be facilitated with the right information collected from internal and external sources. Give three examples each for sources of internal information and external information for international markets.

Q9. As the new product project advances through the structured process, financial forecasts are an important metric that gatekeepers will review and scrutinize. Again, profitability is the goal of all companies and new product development efforts are an effective path to achieving revenue growth. Historical Trend Analysis is a forecasting tool widely used. Explain how this tool can be applied to forecast international market needs.

Q10. Trade is increasingly global in scope today and as a result, consumers and businesses now have access to the very best products from many different countries. Give two reasons which may affect the range of products or services marketed by business in international settings.

ASSESSOR COMMENTS
1^st Attempt
Total questions		Result
Satisfactory		Unsatisfactory
Student’s signature		Date
Assessor’s signature		Date
2^nd Attempt
Total questions		Result
Satisfactory		Unsatisfactory
Student’s signature		Date
Assessor’s signature		Date

Assessment 2

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

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.
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

Specifications

You must provide a written report that:

Meets standard business report writing conventions in terms of:
- Content
- Format
- Level 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

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

Review your Assessment Task 1, applying feedback from your facilitator
Use the modified report from Assessment Task 1 to construct Assessment Task 2
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
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:
- The cultural, historical, political and economic climate of international markets
- Market analysis tools
- Key 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.
- The sources of external and internal information on international markets

Task 3 – Forecast international market and business needs

Performance objective

The candidate must demonstrate the ability, knowledge and skills to forecast international market and business needs. Collect market intelligence, review current business performance and capability, evaluate specific markets and document how business can meet current and emerging needs of the target market.

Assessment description

Using the same organisation selected for Assessment Task 1 and 2, and building on the feedback received, the candidate is to write a report on how the business can meet current and emerging needs of the target market by:

Identifying, analysing and documenting poor or under-serviced international market needs
Identifying changes in international markets that link positively to the organisation’s strengths or capabilities
Considering the advantages and disadvantages of forecasting techniques in relation to desired outcomes
Forecasting and justifying emerging international market needs
Identifying the needs of the business

Present a full report to class. The report and presentation will integrate the previous two assessments tasks and the feedback previously received, into a single report which is a holistic forecast of international market and business needs for the selected organisation.

Procedure

Review and modify the reports created for Assessment Task 1 and 2 by applying the feedback from your facilitator.
Document how this organisation can meet the current and emerging needs of the target market by:
- Identifying, analysing and documenting poor and under-serviced existing international market needs
- Identifying changes in international markets that link positively to the organisations strength or capabilities
- Considering the advantages and disadvantages of forecasting techniques in relation to the desired outcome
- Forecasting and justifying emerging international market needs
- Identifying the needs of the business
Write a report that integrates Assessment Task 1 and 2 as well as all the points listed above.
Present your report to your assessor
Prepare and deliver a 15-20 minute presentation based on your report

Ensure that:

The reports content, format and level of detail meet standard conventions for report writing
The report and presentation are delivered to meet the set deadline (as set by your facilitator

Specifications

You must provide a written report that:

Meets standard business report writing conventions in terms of:
- Content
- Format
- Level of detail
Identifies the organisation and the target market it operates in
Identifies relevant sources of market intelligence
Evaluates commercial services that provide market intelligence
Documents, collates and analyses market intelligence for relevance and applicability
Evaluates the business’ performance in international markets
Reviews current business performance and capability
Evaluates the specific market
Identifies, analyses and documents poor or under-serviced existing international markets
Identifies changes in international markets that link positively to the organisations strength or capabilities
Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome
Forecast and justify emerging international market needs

You must deliver a presentation that:

Meets standard presentation guidelines in terms of structure, professional delivery and supporting material
Is 15-20 minutes in length, unless otherwise specified by the facilitator
Clearly outlines the key points in your report
Presents a framework for the ongoing review of business performance capability

Your assessor will be looking for:

An ability to forecast international market and business needs including:
- The collection of market intelligence
- The review of current business performance and capability
- The evaluation of specific international markets
A knowledge of marketing analysis tools
Culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities
The evaluation and assessment skills needed to gather and analyse information on international markets
The literacy skills necessary to write reports with complex ideas and concepts
Knowledge of:

The cultural, historical, political and economic climate that impact international business activity
Key provisions of relevant legislation from all forms of government that affects business operations, codes of practice and national standards
The source of external and internal information on international markets
A range of products or services marketed by businesses in international settings

Final Assessment Record

Final Assessment Record BSBMKG512 Forecast international market and business needs
Student’s name
ID No:	Date of assessment	Signature of Assessor	S	US
Written: Assessment 1
Assessment 2: Task 1
Assessment 2: Task 2
Assessment 2: Task 3
Assessor’s comments:

Competent	Not yet Competent
Assessor’s name
Assessor’s signature
Student’s signature
Date