BSBMKG607 Manage Market Research: Assessment Task 1

ASSESSMENT SUMMARY / COVER SHEET
This form is to be completed by the assessor and used as a final record of student competency.
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Student Name:
Student ID No: Completion Date:
Unit Code: BSBMKG607
Unit Title: Manage Market research
Please attach the following documentation to this form
Result
S = Satisfactory
NS = Not Satisfactory
NA = Not Assessed
Reassessment
S = Satisfactory
NS = Not Satisfactory
NA = Not Assessed
Assessment Task 1  Develop a market research plan S | NS | NA S | NS | NA
Assessment Task 2  Implement, monitor and evaluate
market research plan S | NS | NA S | NS | NA
Assessment Task 3
 Written Questions and Answers
S | NS | NA S | NS | NA
Final Assessment Result for this unit C / NYC
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Student Declaration: I declare that this assessment is my own
work based on personal study and research and not plagiarised or
copied from another student’s work or source.
I am also aware of my appeal rights.
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Assessor Declaration: I declare that I have conducted a fair,
valid, reliable and flexible assessment with this student. I have
provided appropriate feedback and advised the student of their result.
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Assessment Task 1 BSBMKG607 Manage market research
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Assessment Task 1 BSBMKG607 Manage market research
Report: Develop a market
research plan
Submission details
The assessment task is due on the date specified by your assessor. Any variations
to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See specifications
below
for details.
Performance objective
The candidate will demonstrate the ability to demonstrate the skills and knowledge
required to prepare for, manage and evaluate market research projects across an
organisation.
Assessment description
This assessment consists of preparing a market research plan. You may consult with
your trainer/assessor if any additional support and guidance is required.
Procedure
You are to develop a professional Market Research Plan. This task does not require
you to undertake the research, but to professionally plan it. Your Market Research
Plan can be for any type of market research, including (but not limited to)
 research on competition:
 comparing consumer attitudes to an organisation's
 services and those of competitors
 identifying frequency of use of competitors' products and services
 identifying key competitors and their strengths
 measuring awareness
 research on consumers:
 developing detailed consumer profiles
 identifying changes in attitudes and behaviour patterns
 identifying existing, potential or lapsed consumers
 research on place:
 identifying attitudes towards location
 identifying cooperative opportunities for distribution of information or
services
 identifying demand for products or services at other locations
 research on pricing:
 identifying attitudes towards prices
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Assessment Task 1 BSBMKG607 Manage market research
 identifying costs
 testing alternative pricing strategies
 research on products and services:
 evaluating competitors' products
 evaluating consumer attitudes towards presentation and packaging
 identifying potential new products or services or ones which may be at the
end of their life cycle
 measuring attitudes towards existing products or services
 research on promotion:
 measuring advertising and promotion effectiveness
 testing alternative messages
 testing and comparing different media options
Your research must align to an actual business, product or service.
Specifications
Your Market Research Plan must (as a minimum)
 Include a statement of market research needs
 Include research objectives
 Include project scope
 Identify the specific data required, including how it will be gathered,
quantified and processed
 Include estimates of time lines and costings
 Include all required forms and recording instruments for each research
method chosen
You must stay in contact with your client / supervisor throughout this process to
ensure you are on track. You must also present and explain the rationale behind
your final Market Research Plan to your client / supervisor for approval
This assessment may be undertaken in the following format:
 Classroom / Simulated environment.
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Assessment Task 1 BSBMKG607 Manage market research
 Your assessor may present a business, an “imaginary company” or the
college as your client
 Your assessor will play the role of the client / supervisor throughout the
assessment.
 You must ensure all dealings with your “client” is professional, as you will be
assessed throughout the full process
Your assessor will be looking for your ability to:
● consult and communicate effectively with relevant stakeholders to:
● prepare a market research plan
● develop specifications for research components, outsourced to external
consultants as appropriate
● manage market research activities in accordance with organisational market
research policy and procedures
● evaluate research processes and findings against relevant market research
project plan and work plans
● prepare and present a report on market research findings.
Adjustment for distance-based learners
● No variation of the task is required.
● Documentation can be submitted electronically or posted in the mail.
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Your answers for Assessment Task 1BSBMKG607 Manage market research
Answers for Task 1：
Need for Market Research
The initial phase of this plan is to provide a reasonable and exact collection of the solutions to
the issue by utilizing the compelling behaviour of the exploration process. It is imperative to
explore the solutions of the issues with the help of examination. In a situation like this, an expert
economist should look forward to understanding the concept and requirements of the face
business first and then try to find a potential customer base along with a target market. He or she
is also tasked with deciding the range of products which would be liable for the particular area
and also fixing the price of the products which will be charged. Similarly, at the same time, the
cafe is struggling to finalize the place for the shop, which could be significant to the target
market1.
Research Objectives
The primary objective of this market research plan is to identify and narrow down on the
potential customers and also a market for a coffee shop business. This will be utilized by
researching the market and the consumer.
Scope and Approach of the Research
An exploration approach is Important in showcasing the research plan, which is focused on
finding relevant information and data which could potentially aid to build up the advertising
plan. There are fundamentally two sorts of research approaches: qualitative and quantitative,
which can be utilized to gather information and assemble essential data.
Research Design
This is one of the most critical steps in the entire process. A viable and effective research design
helps to identify the issues identified in a particular case. The method of leading the promoting
research is to be considered. The exploration design which could be explored is of an engaging
examination design, with the goal that relevant answers to the issues could be gathered2.
Collection of Data
1 C. Barnham. "Quantitative and qualitative research: Perceptual foundations." International Journal of Market
Research 57, no. 6, 2015, pp. 838.
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Your answers for Assessment Task 1BSBMKG607 Manage market research
Collection of data is a standout amongst the most important stages in a promoting research
process. Various exercises, for example, gathering of data online along with the questionnaire,
would be utilized to find relevant answers to the issues successfully. Following are a portion of
the courses through which data can be gathered3.
Online survey: The scientist could select the alternative of leading an online investigation to
discover fitting clients and markets for the proposed cafe. It is generally inexpensive and in
demand, where individuals lacking time could also be involved. The online survey will likewise
assist the specialist in getting a few thoughts from the respondents in regards to the opening of
the café. It likewise has extra advantages, for example, having fast reactions that can assist the
analyst with getting significant data quickly and along these lines to begin business at the earliest
opportunity.
Questionnaire: The questionnaire will assist the scientist in collecting significant data. It is a
standout amongst the most fundamental parts of an examination, along with a decent set of the
questionnaire is required to meet the two essentials criteria of precision as well as significance.
Online data: The source of online data which can be accessible can assemble data on which
markets hold the most guarantee for another café. Although Michael wouldn't like to utilize the
web for this examination, to respond to the vital question, it will end up being applicable. The
current number of espresso chains in the specific region, the expansion in the quantity of level of
coffeehouses and the income of contenders can be gathered to break down which markets are
generally encouraging4.
Data will be collected using a survey where a set of potential customers will be targeted, and
they will be surveyed using a fixed set of questions. The data collected then will be analyzed
2 C.R. Boddy. "Sample size for qualitative research." Qualitative Market Research: An International Journal 19,
no. 4, 2016, pp. 427.
3 J. Cechanowicz et al., "Effects of gamification on participation and data quality in a real-world market
research domain." In Proceedings of the first international conference on gameful design, research, and
applications, ACM, 2013, pp. 59.
4 S. Crouch and M. Housden. Marketing research for managers. Routledge, 2012, P. 35.
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Your answers for Assessment Task 1BSBMKG607 Manage market research
quantitatively to estimate the needs of the customers. The data will be evaluated using charts and
graphs for adequate estimation of results.
Research Instrument
The various types of research instruments that are accessible and can be utilized for exploration
to discover fitting answers for the issues. The utilization of powerful tools of research is
imperative in deciding the achievement of the plan of marketing research. The successful usage
of research tool will break down the circumstances adequately. To get the answer to the issues,
the scientist can utilize a questionnaire.
Questionnaire: A set of the questionnaire is one of the most popular tools of research used to
discover answers for questions asked during the investigation. It is known to generate responses
through which the analyst analyzes the participant's reaction. It is essential to plan powerful
inquiries, with the goal that the help of the respondents could create proper data. The viability of
the questionnaire could potentially assist the specialist in finding the accurate market for the
company5.
The measures of research are a significant piece in which an examination is aimed to
comprehend the research viable. The standard for question 1 is as per follows. Most extreme
espresso clients: The quantity of clients who devour espresso is another measure thing for the
inquiry one. The most critical measure of espresso clients will guarantee the most extreme
business.
Low challenge: The concept of Low problem can be defined as another significant factor for this
examination, as it would potentially guarantee the opportunity of development of the cafe within
the market6.
Sample Plan and Size
5 G. Martin et al., "Lithium market research–global supply, future demand and price development." Energy
Storage Materials 6, 2017, pp. 173.
6 A. Helkkula et al., "Characterizing value as an experience: implications for service researchers and
managers." Journal of service research 15, no. 1, 2012, pp. 62.
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