Market Research and Analysis

This assessment brief provides details about a student's submission for the BSBMKG401 - Market Research and Analysis unit. The document outlines the student's name, ID, course code, and title, as well as the due date and receipt of the assignment by the assessor. The student is required to conduct market research and provide a comprehensive report on their findings. The assessment brief includes space for the assessor to record the student's final outcome, re-submission dates, and approval status. It also requires the assessor to provide feedback and sign off on the completed copy of the receipt.

Student
Assessment
Workbook
BSBMKG401
Profile The Market

1. Assessment Information
Welcome to your Student Assessment Workbook for BSBMKG401 Profile The Market.
This Student Assessment Workbook is where you will write all your responses for the knowledge questions
and simulation tasks. Please refer to the Student Assessment Guide for more information.
This assessment has the following two events:
Assessment Event 1 – Knowledge Questions:
There are eight questions that will provide us with evidence of your general knowledge of marketing
concepts, relevant legislation and other industry benchmarks.
Assessment Event 2 – Simulation: FitLIfe Pro-tec
You will complete a number of tasks that will provide us with evidence of your skills with segmenting,
targeting and positioning current and new products and services offered by FitLife. These tasks will be
based on your role of Market Research Officer in a simulation with an organisation that provides programs
and services for fitness and wellbeing.
To complete the Simulation, you will need to refer to the following resources:
FitLife Strategic
Review
This a report developed by a consultant on the current situation of FitLife and
the planned marketing goals and objectives.
Market Research Data This is an Excel spreadsheet of data relevant to the FitLife market.
Policies and
Procedures for FitLife
This document is used throughout the implementation of Tasks 1-3 as they
outline how to work in a health and safe way.
Please note that your responses for both assessment events can (where appropriate) use dot point format. See
below an example of a dot point response and a full sentence response.
Dot point format Presentation Plan includes the following:
 outcomes
 needs of the audience
 context.
Full sentence format When you are preparing for a presentation, there are a number of tasks that must
be carried out. These are listing the outcomes that you want to achieve, followed
by the identification of the needs of your audience. When you have completed
these two tasks you then check on the room that you will be conducting the
presentation in.
To Achieve Competence
To be deemed competent for this unit, you will need to meet the following requirements:
 complete all of the questions and tasks listed in the Student Assessment Workbook
 meet all the requirements listed in this Student Assessment Guide
 your responses to the questions and tasks must be relevant, accurate and specific
 submit your completed Student Assessment Workbook to your Assessor within the set timeframes
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 your work must be in your own words
 where you use an external source of information, you must provide citation.
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2. Pre-assessment Checklist
Your assessor will go through the assessment for this unit, BSBMKG401 Profile The Market. It is important
that you understand this assessment before taking on the questions and tasks. To confirm that you have been
given this overview, we ask you to complete the following Pre-Assessment Checklist.
You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm your
understanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason under
the ‘Comments’ column.
When you have done this, we ask you to sign this Pre-Assessment Checklist. This acknowledges that your
Trainer/Assessor has discussed all of the information with you prior to undertaking this assessment.
Pre – assessment Checklist
C
o
m
m
e
n
t
s
Y   N I, the student, understand the purpose of the assessment.
Y   N
I understand when and where the assessment will occur, who
will assess and in what format the assessment will be
submitted.
Y   N I understand the methods of assessment.
Y   N I understand what resources are required to complete this
assessment.
Y   N I understand the performance level required for each
assessment event.
Y   N
I understand that it must be my own work. I have been
explained and understand the serious consequences in case this
work is found plagiarised.
Y   N I understand the process if I am deemed not yet competent.
Y   N I understand the feedback process and the appeals process.
Y   N The assessor has discussed with me if I have any special needs
and if so what arrangements have been made.
BSBMKG401 Student Assessment Workbook | Page 4

Student Full Name Student ID Student Signature Date
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3. Assessment Event 1 – Knowledge Questions
The information contained in this section lists the questions that you will need to develop a written response.
These questions are theoretical and provide evidence of your understanding of legislation, industry
associations, marketing concepts and terms.
Note you must answer these questions in your own words. Remember, you must get a satisfactory result
with each question to be deemed satisfactory for the whole of Assessment Event 1.
1. Question 1
In the table below, identify relevant information relating to the Australian Marketing Institute Code of
Professional Conduct.
Write your response into the table:
Relevant requirements Applications
Integrity of data All the professionals working in the AMI shall not shared any confidential
information to the unauthorised person i.e., other employees, general
public etc.
No bribery It is prohibited in the AMI that no employees will not take any kind of
commissions or bribery in return of their illegal work.
2. Question 2
In the table below, outline requirements of legislation affecting the role of a marketing researcher.
Write your response into the table:
Legislations Requirements Impacts
Article 1:
Responsibilities to
Clients and Vendors
Work which is given to the company must not
change or modify without the consent of
clients. It is mandatory to work adhere to
specification provided by client.
If marketing researcher is
not working according to
the requirements provided
by client then it would not
be of no use, thus loss for
the company.
Article 2: Responsibility
to Respondents and
Prospective Respondents
It is essential for marketing researcher to take
the consent of client before asking any
questions.
If marketing researcher does
not follow this legislation
then it will affect the work
as information without
getting consent makes it
unauthentic and less
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credible in nature.
3. Question 3
In the table below, explain data collection methods.
Write your response into the table:
Data Collection Methods Explanations Techniques
Primary research It refers to a technique in which
research collects the data for the
first time.
 Face to face interview
could be very effective as
it would assist to obtain
opinions and attitude of
the clients,
Secondary research It is a technique used to collect
data and information which is
collected in the past by other
researcher. Main aim is to
idneify previous research on the
same topic so that unresolved
queries and problem would be
solved.
 By reading government
sources, articles, books,
research paper which is
related to the current
research topic.
4. Question 4
In the table below, explain data analysis techniques.
Write your response into the table:
Data Analysis Techniques Descriptions Examples
Qualitative
Analysis
Content analysis Main idea is to find out overall
theme of the research and then
compare with the aim of the
research topic.
All the data collected in
the research process like
feedback of the clients,
interview data, open
anlaysis of clients etc.
Tone of the research
could be identify from it.
Quantitative Regression It is used by researcher to make For instance, if any
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Analysis analysis prediction and future forecast for
the clients or research topic.
company is planning to
identify their future sales
according to the
environment so to make
the startegies accordingly
then regression analysis
is used.
5. Question 5
In the table below, identify the components of the marketing mix.
Write your response into the table:
Marketing Mix Components Components Issues to consider
Monetary value in exchange of
product
 Price  It must be important for
companies to set the price
according to consumer ability
to pay as customers are price
sensitive in nature. They does
not prefers to pay high price
to a product which they can
get from the other company
in a lower rates.
Needs and wants of customer
must be fulfilled
 Product  If product is not made
according to the needs and
demands of the customer then
would not buy it as customer
always prefers to get highest
value for the money they
have exchanged.
Higher brand awareness in the
market
 Promotion  It is essential for company to
make potential customer aware
about the product they are
launching as customers those
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product which they have never
seen in the TV, newspaper or in
any store.
6. Question 6
In the table below, outline the elements of marketing planning.
Write your response into the table:
Activity Characteristics
Business goals Main motto of the business goals is to set the target of the company and then align
the activities accordingly so that they would be able to attain their goals thus
competitive advantage over others.
Target audience Final stage of the product life cycle is consumption of product by the customers.
So it is essential to identify the target market of the product. For instance, if
company of luxury car is targeting middle or low income of people then it would
be of no use, hence loss for the company.
Budget Highest productivity would be attain if highest utilisation of resources would be
attain, so while conducting marketing planning it is important to make the budget
of spending accordingly. As it would be risky to invest whole capital in to the
single marketing plan.
7. Question 7
In the table below, explain marketing communication concepts and processes.
Write your response into the table:
Communication
Concepts
Typical Process
Research Prior to the planning of the marketing activities for a product it is essential to
conduct the research so that product would be made according to the needs
and wants of the cutsomers. For instance, questions regarding their problem
faced by them will be idenftified and the product specification would be
made accordingly. So that all the problems would be resolved after using it.
Promotions It refers to a communication way through which product information would
be inculcate in the mind of customers so that lead would be generates in
future. Combination of promotions activities like offline and online
marketing, sponsorships to the events etc will be made so that information of
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the product and company would be placed in potential customers.
8. Question 8
In the table below, outline relevant statistical terms used by the Australian Bureau of Statistics.
Write your response into the table:
Statistical Terms Definitions
Sample It refers to a study of specific population taken for consideration
with the aim of studying about characteristics related with the
research topic.
Sample survey It is a method of data collection from the sample taken in the
starting of the research. Motto of it is to collect the information
according to the questioner or surveys.
Mode Mode refers to a value which mostly occur in a set of numbers.
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4. Assessment Event 2 – FitLIfe Pro-tec Simulation
In this assessment, you will undertake a number of tasks associated with profiling the market for new health
and fitness gadgets that could be used in FitLife Centres.
9. Task 1: Segment the market.
In this task you will analyse the Strategic Review on FitLife, then segment the market using appropriate
criteria.
10.1.1 Identify the criteria to segment the market
Insert your response here: For Fit-life centres, market will be segment on the basis of the Geographic,
demographic, Psycho-graphic and behavioural aspects. For new medical and health centres of the Fit-life,
customer shall be targeted on the basis of world, region, caste and culture from which they actually belongs
and also as per their taste and preferences about any specific services to be offered by the Fit-life. Here,
segmenting criteria is differentiate, because, it deals with an individual constituent, before profiling them for
Fit life gadgets. If a business is looking for new health services or gadgets in that condition, they must need
to identify income level and also nature of customer's at a bigger point. Here, criteria for segmenting is
measurable which plays a necessary in judging customer income level and also ability to pay. Profiling of
the customer is also necessary to get exact knowledge of the customer, we need to deliver.
11.1.2 Access sources of information for segmenting the market
Insert your response here: Fit-life centres is looking for new health gadgets and also they are looking for
prospective customer list, which they wants to target as per their choice of applying marketing tools and
technique to get attract customer's at given point of time. Sources for information will be previous customer,
past business operation, current fitness trends etc., which are necessary to generate relevant information to
gather it for segmenting the customer in the given point of time. Criterion such as measurable will be judge
on basis of customer income level or how they are capable of being spending on purchasing any particular
fitness products. Also, for criterion named as Differentiate, it will be judge on a basis of fitness issues of
customer's on basis of health and fitness issues. This information will be judge, after doing market research
and brief analysis out of it.
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12. Task 2: Identify target markets.
In this task you will use the information provided to identify the most preferred target and then research
secondary data to develop profiles.
13.2.1 Define target market
Insert your response here: Target market is basically a subset of an total market for a product or service. In
business context, firm generally selects more than one segment as its highly focuses on its activities, in
which case, it would normally target such as primary and secondary research. In concept of Fit life, target
market will be middle level person to give them affordable services and in matter of gadgets such as Infrared
walker machine and muscular stimulator will be provides to customer at an affordable prices segment.
14.
15.2.2 Review factors to determine usefulness
Insert your response here: It has been determined that usefulness of target market will be judged on a basis
of how market is capacitative to gain business competencies for this new health fitness service and gadgets.
Usefulness of this target market will be judged on a basis of how customer of such are responsive for buying
new health based services and fitness gadgets. For Fit life gadget such as walker machine, its target market
will be customer who are suffering with leg and thigh based issue. The usefulness is that, target market will
get benefits from such gadget and lead higher level of product purchase.
16.
17.2.3 Review segments using usefulness factors
Insert your response here: This segment of middle level customer can be reviewed on basis of this targets
market is in reach of the customer and also they can be acquired to bring competencies into the business
operation by enhancing the level of satisfaction to the customer over given period. Given segment of the
customer's are facing with an issue of leg and thigh issue, which is the suitable factor for profiling marker
for Fit life. These factors has contributed a lot in deciding which gadgets is useful and for which segment.
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18.
19.
20.
21.2.4 Review segments alignment to organisational needs
Insert your response here: This segment of middle level people is useful to align it to organisational needs
and wants. In context with Fit-life, organisational needs are: increased efficiency for products, acquiring
more customer and enhance profitability. Defined segment is very much capacitive to fulfil required needs
and wants of Fit-Life, as like they wants to enhance their profit capacity and also increase business
effectiveness. Middle level people are huge in number, hence, this is a major opportunity for Fit-Life to
fulfil defined needs and wants.
22.
23.
24.
25.2.5 Profile target markets
Insert your response here: Here, profiling of the target market will be done on basis of behavioural,
geographical and demographic aspects. As, Fit-life is looking for customer segment which belongs to more
that age group of 24 and also targeting both male and female to enhance business competencies in given
point of time. Fit-life is looking for targeting customer who are based on lifestyle and use to prefers for
medical check and believes in fitness on frequent basis to gain business competencies. Fit life will also
considers behavioural aspects such as how frequent is the customer to go for medical fitness and enables the
fitness gadgets.
26.
27.
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28. Task 3: Profile target audiences
In this task you will develop positioning strategies for the selected target markets.
29.3.1 Identify and select positioning strategies for target
markets
Insert your response here: For Fit life, positioning strategies will be use of social media and word of mouth
to attract higher and higher customer for these products. It was noticed that these gadgets of the Fit life such
as weight check, fat remover are of greater value and also its demand is high to pursue self purchasing. For
enabling effective selling of the health gadgets, it is necessary to be position customer through use of social
media and mode of word of mouth to enhance source of one to one communication from one person to
person to led sales of these products on higher basis. Social media such as Face book are best way to best
way to grow customer occupancy at a greater and effective level of led business of the Fit life at a greater
context.
30.
31.
32.3.2 Develop a positioning implementation plan
Insert your response here: In context with Fit-life, Positioning implementation plan for their new health
and fitness gadget are as follows:
Identify actual products: It is necessary to have identity and visibility of actual products to b sold
to targets customers. For Fit=life, actual fitness products is walker machine and fat stimulus which are
important to loose wait.
Determine actual product position: This health and fitness gadget will be position to middle level
customer, so that they will spend on this as per their income capacity and with clear features and specs.
Developing alternative strategies: Here, Fit-life needs to stop dealing with their some existing
products such as weight loosing machine and muscle relax toroid to position new product into customer
mind as to raise expectancy of these new products.
Select and implement most promising alternative: After deciding an alternative strategies,
resources such as sales promotion, social media such as Face-book, Twitter etc. The major objective is to
create viable image of a fitness products into the customer minds.
Comparison: Fitness centres must do comparison of ideal strategy with their new position strategy
to enhance their product reach along with ascertaining how far product will go or how long it will take to
reach customers.
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33.
34.3.3 Seek feedback and adjust positioning plan
Upon the receipt of the feedback from your Marketing Manager, make the necessary adjustments to your
implementation plan. Also, attach the email exchange with this Marketing Manager.
Marketing manager is used to pass feedback to employee over implementation of positioning plan, in
this plan, major drawback is limited use of social platform, it was noticed that public has been gone on
social media such as Face-book and twitter basis, so in this condition, it is recommendable that extensive use
of social media platform is necessary and established at a greater and optimised level to hence business
suitability through acquiring customer through customer acquisition. From given implementation plan, it has
been noticed that issue was with alternative strategies, in response, Fit-Life can go for doing social
promotion of these new products as suitable adjustments in positioning implementation plan to enhance
products suitability and reach to the customer.
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For Assessor Use Only
5. Task Outcome Sheets
The Outcome Sheet below is the assessment questions and tasks for each of the assessment events that the
student is required to complete. Assessors, tick ‘S’ if the student achieved a satisfactory outcome for an
assessment task and ‘NYS’ if the student does not meet these requirements. Also, you are required to write
comments on the quality of this evidence under the ‘Comments’ column. For your judgement on the
student’s overall performance, tick ‘Satisfactory’ if the student achieves a satisfactory outcome for all of the
tasks or ‘Not-Yet-Satisfactory’.
35. Assessment Event 1 – Knowledge Questions
Assessment Event 1
Knowledge Questions S NY
S Comments
Question 1
Question 2
Question 3
Question 4
Question 5
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Assessment Event 1
Knowledge Questions S NY
S Comments
Question 6
Question 7
Question 8
The student’s performance for Assessment Event 1 is Satisfactory
N
o
t
-
Y
e
t
-
S
a
t
i
s
f
a
c
t
o
r
y
Assessor Signature: Date:
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36. Assessment Event 2 - Simulation
Assessment Event 2 S NYS Comments
Task 1:
Segment market
Sub Task
1.1
Sub Task
1.2
Task 2:
Identify target
markets
Sub Task
2.1
Sub Task
2.2
Sub Task
2.3
Sub Task
2.4
Sub Task
2.5
Task 3:
Profile target
audiences
Sub Task
3.1
Sub Task
3.2
Sub Task
3.3
The student’s overall performance is Satisfactory
N
o
t
-
Y
e
t
-
S
a
t
i
s
f
a
c
t
o
r
y
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Assessment Event 2 S NYS Comments
Assessor Signature: Date:
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37. Assessment Outcome Sheet
Student ID Family Name First Name
Course Code Course Title
Unit Code BSBMKG401 Unit Title
Profil
e The
Mark
et
Assessment
Outcome
Assessor, please tick
and date the student’s
final outcome of this
assessment:
Initial Submission Date Re-submission 1 Date Re-submission 2
C NYC ___/___/____ C NYC
Assessor’s Feedback
Assessor, please provide your comments on the student’s final outcome of this assessment:
Assessor Full
Name
Signatu
re
Date
Receipt of
Student’s
Assessmen
t
Assessor, you
must provide
the
completed
BSBMKG401 Student Assessment Workbook | Page 20

copy of this
receipt to the
student as an
evidence of
submission of
their
assessment to
you.
Student ID Family Name First Name
Course Code Course Title
Unit Code BSBMKG401 Unit Title
Profile
The
Market
Due Date __/__/___ Date
Received __/__/___
Extension
Approve
d
Y  N 
Date
Approve
d
__/__/___
Initial Submission  Re-submission 1  Re-submission 2  Assessor’s
Signature
BSBMKG401 Student Assessment Workbook | Page 21