BSBMKG435 Analyse Consumer Behaviour: Knowledge Questions and Answers

This assignment provides answers to knowledge questions related to market analysis and consumer behaviour. It covers topics such as the purpose of market analysis, factors investigated in market analysis, time series forecasting, linear regression, segmentation criteria, aligning product/service features with the target market, the importance of understanding the target audience in marketing communication, differences between advertising, promotions, and publicity, commonly used digital marketing channels, strategies for comparing costs and benefits of digital marketing options, innate and acquired needs of consumers, setting marketing objectives to influence consumer decision-making, key features of a marketing policy and procedures, the buying process in a B2C situation, and different roles within a B2B buying center. The document also references a case study on Tropica Queensland, a group of hotels focusing on attracting domestic business travelers.

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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List three ways to test whether your product/service features are aligned with the market you are
targeting.
1. Customer surveys
2. start with current customers
3. think about benefit
Explain the importance of understanding your target audience when developing a marketing
communication strategy.
It is very important for the management of the organisation that they effectively survey the market and
analyses the target customers for their product because it protect the company to waste their resources in
unusual buyers.
Discuss the differences between advertising, promotions and publicity.
The advertising is a paid service under which the company has to pay advertiser for the advertisement of
their product while publicity is an unpaid promotion of company goods.
List five commonly used digital marketing channels.
There are different digital marketing tools are present in the market and the list of them are given below:
 Social media
 Email marketing
 Content marketing
 Video marketing
 SEO & PPC
Describe one strategy for comparing costs and benefits of a range of digital marketing channel options.
Social media marketing is one of the most cost efficient strategy which helps the organisation to achieve
cost advantage. The number of customers are very high on social media which helps the organisation to
become cost effective.
Provide three examples of innate needs and three examples of acquired needs of consumers that can be
addressed through marketing objectives.
Innate needs Acquired needs
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Food Need for power
Water Need for affiliation
Shelter Need for achievement
List three ways to set marketing objectives so that it will influence consumer decision-making through
appealing to the motives of the consumer.
 Motivation
 Learning and socialisation
List two key features of a marketing policy and procedures.
ANS: Positioning and competitive analyses
Outline the buying process of the consumer in a business-to-consumer (B2C) buying situation.
Under this business to consumer situation the product are buy by the customer from the business directly.
Explain the different roles within a B2B buying centre
Under business to business business structure all the goods are buy and sell between two companies.
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