BSBMKG507A Lecture Resources

BSBMKG507A Interpret market trends and developments

Session 1

© 2012 Innovation and Business Industry Skills Council Ltd.

Purpose of this presentation At the end of this session, you should know how to:

use statistical analysis of market data to interpret market trends and developments

analyse market trends and developments to determine impact on the business

analyse and interpret quantitative and qualitative data to analysis comparative market information

analyse market performance of potential competitors.


Group activity – research and discussion

Company annual report for statistical analysis of data:

use the internet to access company annual reports

for example: National Australia Bank (NAB) <http://www.nab.com.au/wps/wcm/connect/ nab/nab/home/About_Us/20/3/>.


Activity – research and discussion

WeCare case study:

central tendency

dispersion.



Study statistical analysis – vehicle industry:

Access Federal Chamber of Automotive Industries (FCAI) <http://www.fcai.com.au/sales>.


Impact of market trends and developments Changes in technology

Demographic trends

Ecological and environmental trends

Supplier prices

Business strengths

Business weaknesses

Business opportunities

Business threats

Organisations need to continually analyse market trends and developments to prepare for their potential impact…


Identify potential opportunities or threats

Analysing the market performance of existing and potential competitors and their products or services, can identify potential opportunities or threats.

SWOT analysis.

Understanding competitors and their performance enables our organisation to stay ahead of the game…



Market trends and developments – vehicle industry

Access Federal Chamber of Automotive Industries (FCAI) <http://www.fcai.com.au/sales>.


Comparative market data

Quantitative interpretation of comparative market data includes:

conversion rate of leads to sales

mean, mode, median

average order value

average response rate.

Data analysis and interpretation provide

essential information for organisations to plan strategies for viability and success…


Qualitative analysis of comparative market information

Comparative market analysis provides insight into the market.

What are our competitors doing?

How are we positioned within the market?

How do our products and service compare?

Understanding our competitors is important to increase our business strength…


Progress check You should now know how to:

use statistical analysis of market data to interpret market trends and developments

analyse market trends and developments to determine impact on the business

analyse and interpret quantitative and qualitative data to analysis comparative market information

analyse market performance of potential competitors.



Data to understand impact of competition: Wecare case study.

Comparative market data – existing and potential customers: Newell Rubbermaid & Tupperware.


Discussion

What questions do you have?



Session 2



analyse performance data to determine success of marketing activities

identify over-performing and under-performing products and services

forecast existing and emerging market needs.


Analyse performance data When analysing performance data we need to consider all areas of the business to determine success of marketing activities.

Qualitative data consists of:

interview and observation notes

written documents and reports.

Analysing qualitative data is a subjective process...


Redevelop or withdrawal

Indentifying over-performing and under-performing products and services presents valuable information for consideration of:

redevelopment of product or service

withdrawal of product or service.

An organisation needs to offer customers the products and services they expect…


Activity – research and discussion McDonald’s: identify underperforming products and services.

Access McDonald’s annual report – 2008.

<http://en.wikipedia.org/wiki/McDonald's>.


Forecasting techniques Forecasting existing and emerging market needs relies on available information provided from utilising forecasting techniques.

These include:

quantitative methods

qualitative methods.

Forecasting provides insight and understanding

of market trends and developments…



Forecasting techniques – Seaside Caravan Park:

Assess data supplied.



2006 2007* 2008 2009 2010 2011

Park Capacity 400 400 400 400 450 450

Existing Bookings 300 310 320 330

Sites booked from drive-in visitors for the period 26 December till 2 January

65 30 76 70

Bookings from families

25 10 26 24

Bookings from couples 38 22 45 42

Bookings from individuals

2 0 5 4

* In 2007 the weather over the period was unexpectedly cold with huge storms.


Discussion

As a group discuss the content of this session.



Progress check

You should now know how to:

analyse performance data to determine success of marketing activities

identify over-performing and under-performing products and services

forecast existing and emerging market needs.



Session 3



prepare, plot and interpret data for visual presentation

assess visual presentation for potential problems and implement corrective action

report on analysis of market data.


Interpret data for visual presentation The visual presentation of data needs to ensure your information is easily understood and clearly conveys the results of your analysis.

tables

charts

graphs.

Data needs to be clear and correct; effective visual presentation will ensure the meaning of the data is communicated…



Interpret data:

Access the NAB 2009 annual shareholder report <http://www.nab.com.au/NABGroup/archives/ annual-reports/Shareholder-Review-2009.pdf>.


Assess visual presentation It is imperative to assess visual presentation for potential problems and take any necessary corrective action.

Review visual presentation.

Clarify and correct confusing or incorrect visual presentation.

Visual presentation of market data can effectively communicate report conclusions and recommendations…



Good and bad visual presentations.

Research and comment.


Market data report A report on analysis of market data needs to meet organisation requirements.

Aspects that need to be considered:

content

format

level of detail

scheduling.

Reports are required to communicate ideas and information

clearly and concisely to ensure effectiveness...



Discuss purpose of report.

Report structure – standard business format.



Title Page

Executive Summary

Acknowledgements

Introduction and Terms of Reference

Methodology

Results

Discussion and Analysis

Conclusions

Recommendations

Appendices


Discussion

As a group discuss the content of this section



Progress check You should now know how to:

prepare, plot and interpret data for visual presentation

assess visual presentation for potential problems and implement corrective action

report on analysis of market data.


Documents

BSBMKG507A Lecture Resources