BSBMKG435 Analyse consumer behaviour Assessment Task 1

Assessment Task 1: Knowledge questions
Information for students
Knowledge questions are designed to help you demonstrate the knowledge which you have acquired
during the learning phase of this unit. Ensure that you:
 review the advice to students regarding answering knowledge questions in the Business Works
Student User Guide
 comply with the due date for assessment which your assessor will provide
 adhere with your RTO’s submission guidelines
 answer all questions completely and correctly
 submit work which is original and, where necessary, properly referenced
 submit a completed cover sheet with your work
avoid sharing your answers with other students.
Assessment information
Information about how you should complete this assessment can be found in Appendix
A of the Business Works Student User Guide. Refer to the appendix for information on:
 where this task should be completed
 the maximum time allowed for completing this assessment task
 whether or not this task is open-book.
Note: You must complete and submit an assessment cover sheet with your work. A
template is provided in Appendix C of the Student User Guide. However, if your RTO
has provided you with an assessment cover sheet, please ensure that you use that.
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Questions
Provide answers to all of the questions below:
Explain the purpose of conducting a market analysis and outline five factors that might be investigated as
part of a market analysis.
The main purpose for conducting market analyse by the business organisation is that it helps the
organisation to analyse the needs and preference of the customers and also the various opportunities
present in the environment. Five factors of market analyses are as follows:
 Market size
 Market trend
 Market opportunity
 Market growth rate
 Market distribution channels
Explain the use of time series forecasting in relation to market analysis and give an example to illustrate
your answer.
The time series isn used by the business organisation to analyse effective business model which is used
by them to forecast the business matrices. It is one of the most important and effective tools to analyse
market trends.
Describe the concept of linear regression as a forecasting technique in relation to market analysis.
It is one of the attractive statistical tool, which is used by the management of organisation to predict the
future values on the basis of past numbers and data. It is linear straight line which reflects the prices.
Describe segmentation criteria that may be used in a consumer profile.
The demographic segmentation is commonly used segmentation criteria by the organisation to target the
buyers in the market. Under this method the gender, age ,profession and nationality of the customers are
used to target the customers.
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