Student Assessment Guide BSBMKG408 Conduct Market Research Version 1.0 October 2016 Level 2, 25 George Street, Parramatta, NSW 2150 Phone: +61 2 9633 1222 Fax: +61 2 9633 1888 Email: info@australisinstitute.nsw.edu.au Web: www.australisinstitute.nsw.edu.au ABN 17 120 701 911 | RTO ID 91630 | CRICOS ID 03173K

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Student Assessment Guide
 
BSBMKG408

Conduct Market Research

 
Version 1.0
October 2016
Level 2, 25 George Street, Parramatta, NSW 2150

Phone: +61 2 9633 1222  Fax: +61 2 9633 1888

Email: info@australisinstitute.nsw.edu.au Web: www.australisinstitute.nsw.edu.au

ABN 17 120 701 911 | RTO ID 91630 | CRICOS ID 03173K  

 

Table of Contents

Assessment Information  1

Assessment Event 1 – Knowledge Questions  2

Question 1  2

Question 2  2

Question 3  2

Question 4  3

Question 5  3

Question 6  3

Question 7  3

Question 8  4

Question 9  4

Assessment Event 2: FitLife Simulation  5

Task 1: Conduct desk research to gather background market information  5

1.1 Summarise the background to the market research project 5

1.2 Identify and seek approval with protocols and format for information collection  5

1.3 Conduct desk research and report on initial research findings  5

Task 2: Develop research methodology and objectives  6

2.1 Develop research objectives for the project 6

2.2 Develop research questions for one research objective  6

2.3 Develop a hypothesis for each research question  6

2.4 Identify and develop data collection method  6

2.5 Identify options for quantifying data  6

2.6 Test and amend survey tools  6

Task 3: Recruit respondents  7

3.1 Interpret market research plans to identify potential respondents  7

3.2 Identify respondents in line with research principles  7

3.3 Recruit respondents in line with organisational requirements  7

Task 4: Gather data and information from respondents  8

4.1 Prepare and arrange resources for data gathering  8

4.2 Gather and record data and information using tools  8

4.3 Store information and data  8

Task 5: Analyse research information  9

5.1 Process data and information for analysis  9

5.2 Apply data analysis techniques  9

5.3 Summarise findings  9

Task 6: Prepare research reports  10

6.1 Collate and assess findings to produce report 10

6.2 Communicate research findings to relevant personnel 10

Appendix A: FitLife Simulation  11

FitLife Simulation Background  11

Simulation Phases  11

Your Role in the Simulation  11

Phase 1: 11

Phase 2: 11

Phase 3: 12

Assessment Conditions for the Observation  12

Appendix B: Observation Check Sheet 13

 

 

 

Assessment Submission Sheet

Course Title Certificate IV Marketing and Communication Course Code BSB42415
Unit Title Conduct Market Research Unit Code BSBMKG408
Version 1.0 Created on October 2016

Please read and sign this assessment coversheet and submit it together with your assessment to your Assessor by the due date.

Student Name   Student ID  
Assessor   Date Due  
Declaration I affirm that all work submitted in this assessment is my own work and does not involve plagiarism or teamwork other than that authorized for any particular assessment activity. I have read the Student Assessment Handbook under Section 2 Assessment Guidelines and understood the serious consequences in case this work is found plagiarized.
Student Signature:     Date Signed: ____/____/____

Assessor Use Only

First Submission Date Re-submission Date Re-assessment Date
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Feedback: Trainer/Assessor’s Comments:
 
 
 
I hereby confirm that I have been given feedback from the Assessor and I agree with the assessment outcome.
Student Signature   Assessor Signature   Date ___/___/______
Student Feedback on Assessment: Would you like to make any comments about this assessment?
 
 
 
Assessment Receipt
 
Student Name   Student ID  
Course Code & Title BSB42415 Certificate IV Marketing & Communication Extension Granted Yes r No r
Unit Code & Title BSBMKG408 Conduct Market Research Date Received ___/___/____
First Submission r Re-submission r Re-assessment r Received by  

Pre-assessment Checklist

Your assessor will go through the assessment for this unit, BSBMKG408 Conduct Market Research. It is important that you understand this assessment before taking on the 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’ section.

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.

Checklist Comments
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 me, how 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 successfully 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 understood 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 put in place.  

 

Student Full Name   Student ID   Student Signature   Date

 

 

Assessment Information

Welcome to your Student Assessment Guide for BSBMKG408 Conduct Market Research. This Guide provides you with information on the assessment particularly what you have to do and to what level of performance.

This assessment has the following two events:

Assessment Event 1 – Knowledge Questions
There are nine questions that will provide us with evidence of your general knowledge of relevant legislation, marketing research concepts and techniques and report writing.

This assessment is completed in your own time and by a submission date provided by your Assessor. You may use support material in the development of your responses, but you must indicate the source. In addition, you must not ‘cut and paste’ content from your source, rather, use your words, unless it is a direct quote.

 
Assessment Event 2 – Simulation: Fit Life
You will complete a number of tasks that will provide us with evidence of your skills with conducting market research on a target group of potential users of a fitness centre. These tasks will be based on your role of Market Research Officer in a simulation with an organisation titled Fit Life.

To complete the Simulation, you will need to refer to the following resources:

Market Research Policies and Procedures This document is used in Task 1.1 and 6.2 and provides steps required to conduct market research and report writing.
   
Project Plan This plan is used in Task 1.1 as being a market research brief, explains what has to be done with the project.

Remember, you do not type your responses in this Student Assessment Guide, but use the Student Assessment Workbook, which is a separate document. This document is simply a guide to explain what you are required to do, and by doing so, this will assist you to perform at your best.

Please note that your responses for both assessment events can (where appropriate) use dot point format. See below for 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 you will be conducting the simulation in etc.

Performance required

  • 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
  • your work must be in your own words
  • where you use an external source of information, you must provide citation

Please be aware that your Assessor is here to provide you with the necessary support throughout the assessment process. If you have questions, then contact them for guidance.

Assessment Event 1 – Knowledge Questions

These questions are theoretical and provide evidence of your understanding of legislation, concepts and processes used in market research.

Each question includes the requirements which indicate what you have to do and the depth of your response to achieve a satisfactory result.

Question 1

In the table below identify key provision of legislations, codes of practice and national standards relevant to marketing roles.

  • identify two key legislation, two codes of practice and two national standards
  • describe the provisions of each legislation, code and standard
  • provide an example of required action to address each provision
  • word count is approximately 50 words per item
Legislation/Codes/Standards Description of Provision Actions
Legislations Business law Australia adopts the common law system derived from the English legal system and its legal system is based on federal and state law. Australia also has a written constitution that clearly defines the structure of the government and the powers of the federal and state governments. There are three main sources of Australian law:

Statutory or statutory law (the “Parliamentary Act”); subsidiary rules and regulations (as authorized by the Parliamentary Act); and case law (established by the courts in dispute resolution). The effectiveness of statutory law is higher than case law – although many case law is an interpretation of statutory law. Case law provides for rights and obligations not covered by laws and regulations, commonly referred to as common law.

The cost of setting up a partnership is also cheap, and you will probably have more financial resources than the self-employed. But on the other side, you and your partner share the debt, even if you personally did not directly incur the debt. The private equity of each partner is still a fair settlement of partnership debt.

 

This is called “joint and several liability” – the partners are jointly held by the business debt, but if any partner has a default share, then each partner may also be individual debt.

.Act 1900(UK) The main purpose of the law is to ensure that all services meet consumer expectations in terms of their physical, material and quality, not misleading; to provide legal rights regarding public health and consumer interests and to provide for violations The cost of setting up a partnership is also cheap, and you will probably have more financial resources than the self-employed. But on the other side, you and your partner share the debt, even if you personally did not directly incur the debt. The private equity of each partner is still a fair settlement of partnership debt.

 

This is called “joint and several liability” – the partners are jointly held by the business debt, but if any partner has a default share, then each partner may also be individual debt.

Codes of practice ABN The Australian Business Number (ABN) is a unique 11-digit number used to identify businesses. You use your own ABN to communicate with other businesses and government agencies and agencies such as the Australian Taxation Office (ATO). Even if your business name is the same as another business, no other business ABN will be the same as yours.

 

The ABN number does not replace your TFN. Your business usually needs its own TFN unless you are a self-employed – in this case, you can use your own TFN.

 

 

You do not have to have an ABN, but with ABN you can avoid being paid with your payment, and it’s also easy for you to apply for GST registration and other commercial tax registrations (such as PAYG withholding).

     
National standards European EN 1177: 1997 standard The European Committee for Standardization (CEN) has established safety requirements and test methods to prevent injuries, especially head injuries, on people’s sports grounds. EN 1177: 1997 “Impact absorbing playground surfacing – Safety Requiresive and Test methods “.

 

 

EN 1177: 1997 gives the impact test device (see Figure 1) and the test method for testing the characteristics of the ground material of sports grounds, a typical test curve of acceleration gn and time t (see Figure 2), a typical HIC and drop height H Test curve (see Figure 3) and to assess head injury impact HIC formula to determine the critical drop height (CFH) minimum. That is, people falling to a height no greater than the CFH minimum when they are active on a sports ground are considered to meet the standard safety requirements.

American ASTM F 1292-2004 standard

American ASTM F 1292-2004 standard

 

The American Society of Testing Materials has established ASTM F 1292-2004 “Standard Specification for Impact Attenuation of Surfacing Materials Within the Use Zone of Playground Equipment.” ASTM F 1292, enacted in 1991, was first revised in 1996 and then revised in 1999 to the latest version of 2004 from the standard title and standard content three times revised to illustrate the United States on the sports ground The emphasis on safety performance also illustrates the importance attached to physical safety in sports fields.

 

 

ASTM F 1292-2004 sets the minimum requirements for impact attenuation of ground materials in sports arenas that are installed around sports equipment; sets performance criteria for impact attenuation of ground materials in sports grounds, specifies drop height thresholds (CFH); identifies sports grounds Ground materials in the laboratory conditions of the drop height of the critical value of the program; developed a test site has been installed on the ground material procedures; data collected after the calculation of two evaluation indicators: HIC and g-max; also test sample size, Ambient temperature, test time, etc. made specific provisions.

 

Question 2

In the table below, outline relevant communication concepts and processes.

  • identify three communication concepts
  • describe the typical process of each concept
  • word count is approximately 25 words per description
Communication Concepts Typical Processes
Refers to collecting search. It is a journalistic term that journalists observe, investigate, interview, record, photograph, record, record and other activities in order to obtain news materials. Is a way of collecting and collecting media information, often through face-to-face communication between journalists and those who have access to information.
Nonverbal communication Nonverbal communication refers to the use of a variety of symbol systems other than linguistic symbols, including body language, paralanguage, space utilization and communication environment.
Questionnaire Questionnaires are a means of data collection in social surveys. When a researcher wants to study a phenomenon through social surveys (such as what factors affect customer satisfaction), he can use questionnaires to collect data
Communication channels

 

The communication channels of enterprise organizations are the carriers of information transmission. They can be divided into formal or informal communication channels, downward communication channels, upward communication channels, and horizontal communication channels.

Question 3

In the table below, explain data processing methods in market research.

  • describe the typical process involved in each method
  • word count is approximately 50 words per description
Data Processing Methods Typical Process
Data Editing Data edit is the process of checking, modifying, rearranging, processing, purifying and organizing the data input into the system into a format that is convenient for internal processing. Tasks are: ① check the data, including the inspection of missing data, redundant data and error data, add, delete and modify operations; ② the data rearranged into a format for internal processing. In the geographic information system, because the object of processing is a spatial entity, graphic editing is the main method of data editing.
Data Coding Data coding has become the key to computer processing. That is, different information records should adopt different codes. One code point can represent a record of information. Due to the complexity of the data and data to be processed by computers, the implication of some databases is hard to remember. For ease of use, easy to remember, it is often necessary to encode the object being processed and to represent a message or string of data in a single code. Data coding is very important in the management of the computer, you can easily carry out information classification, check, total, search and other operations. People can use coding to identify each record, to distinguish between treatment methods, classification and verification, so as to overcome the shortcomings of the project jagged, saving storage space, improve processing speed.
Data Classification Data Classification Research and analysis are based on data, and the type of data can be divided into continuous variables and categorical variables. Data classification is to have some common attributes or characteristics of the data together, through the classification of attributes or characteristics of the data to be distinguished. In other words, it is the same content, the same nature of information and the information that requires unified management together, and different and needs to be managed separately from the information, and then determine the relationship between the various sets to form a structured Classification system.
Data Tabulation Graph refers to the graphic structure that is displayed on the screen and can directly display statistical information attributes (temporality, quantitativeness, etc.), which plays a key role in knowledge mining and information vividness and vividness. It is a good way to visualize object attribute data , The image of “visual” means.

Data Charts view data variations and forecast trends on a generic basis, making data comparisons or data trends clear at a glance, helping to express data relationships quickly and effectively. The chart is linked to the job data that generated it.

Question 4

In the table below, explain data analysis techniques in market research.

  • identify two qualitative data analysis techniques and two quantitative data analysis techniques
  • describe the typical process involved in each technique
  • provide an example of each technique
  • word count is approximately 30 words per description
Data Analysis Techniques Descriptions Examples  
Qualitative Analysis System analysis To the overall system as the goal of the best, all aspects of the system qualitative and quantitative analysis. It is a purposeful, step-by-step exploration and analysis process that provides decision makers with the information and information they need to directly determine and determine the optimal system solution. Consultants based on the manufacturers of human and material resources and resources of the investigation and analysis, proposed alternative evaluation criteria or constraints
Step by step analysis Use of concealed or simple separation method to exclude interference after the detection of ions qualitative analysis. For example, in the sub-analysis, as long as the excess zinc oxide suspension in the test solution, the iron, aluminum, chromium, mercury, lead, bismuth, copper and other interfering elements precipitated as hydroxides, And excess zinc oxide, which can be detected with dimethylglyoxime nickel.
Quantitative Analysis ratio analysis It is the basic method of financial analysis, but also the main method of quantitative analysis. Finance
Trend analysis It conducts a longitudinal comparison of the data of several years of relevant financial indicators of the same unit and observes its growth. Through trend analysis, analysts can understand the company’s development trends in a particular area. Expect the GDP of a city.

Question 5

In the table below, explain design of samples in market research.

  • identify two design of samples in probability sampling and two designs of samples in non-probability sampling
  • describe the typical process of each design
  • count is approximately 50 words per description
Design of Samples Descriptions
Probability Sampling Simple random sampling Simple random sampling is also known as simple random sampling, pure random sampling, SRS sampling, refers to the N units from the N units randomly selected as a sample, so that each possible sample is drawn in a probability equal to a sampling .
 (Systematic Sampling ) First, all the cells in the overall arrangement according to a certain order, the use of simple random sampling of the first sample unit (or called random starting point), and then the order of extraction of the remaining sample units, this sampling method is called the equidistant sampling
Non-probability Sampling Quota sampling Quota sampling, also called “quota sampling”, means that investigators classify or stratify the survey sample according to a certain mark, determine the sample amount of each type (layer) unit, and randomly sample the sample within the quota.
Arbitrary sampling Arbitrary sampling refers to the random sampling of investigators on the principle of random sampling, a non-random sampling.

Question 6

Explain the development and use of hypotheses in market research.

  • explain the process of developing hypothesis in market research
  • explain how this hypothesis is used in market research
  • word count is approximately 150 words in total

 

Mainly divided into: descriptive assumptions, explanatory assumptions, predictive assumptions, content assumptions.

Educational science research is a complex cognitive process. In the long-term scientific research practice, according to the scientific thinking method, people summarize the general process of conducting scientific research in education, generally speaking include the selection problem, the hypothesis, variable identification, sampling, experimental design, demonstration, research and research findings

The question of choice, ie, the special problem of the chosen study, is the first step in the educational science research and an important step. Because the choice of questions not only stipulates the direction and content of the research, but also determines the methods and ways that the research should take. Therefore, we must be careful.

The phenomena and processes of education are extremely complicated. There are also many educational problems that need to be studied. However, not every educational problem has the value of carrying out scientific research. That is, it is a matter of scientific value. If it is subject to the subjective and objective conditions, not all of it As the research object. How to choose a research problem? First of all, we should deal with a few topics of the relationship.

 

 

Question 7

In the table below, explain research reporting formats in market research.

  • describe the characteristics of each component
  • word count is approximately 25 words per description
Research Reporting Format Characteristics
Title The title can be written in two ways. One is a standardized title format. The other is a freestyle title, including statements, questions and positive and negative combination of three.
Abstract The first is to state the cause or purpose of the investigation, the time and place, the object or scope, the process and the composition of the personnel, and the investigation of the situation itself, from which the central issue or the basic conclusion can be drawn.
Introduction Write down the historical background of the object of investigation, general development of the basic conditions of the past, the actual situation, major achievements, outstanding problems, and then put forward the central issue or the main point of view.
Literature review Review the relevant opinion of the theory and topic.
Methodology Tell the methods discuss the topic
Results List the result
Discussion Discussion the result
Conclusion Summary the total concept and the recommendations
Appendices The attach of the work an file
Reference lists List the cite reference biography

Question 8

In the table below, explain the roles and uses qualitative and quantitative research in market research.

  • describe the roles:
    • describe the roles of qualitative research in market research
    • describe the roles of quantitative research in market research
    • word count is 50 words per research type
  • describe the uses:
    • describe the uses of qualitative research in market research
    • describe the uses of quantitative research in market research
    • word count is 50 words per research type

 

R1:

Qualitative analysis and quantitative analysis should be uniform and complementary ;; Qualitative analysis is the basic premise of quantitative analysis, there is no qualitative quantitative is a blind, worthless quantitative; Quantitative analysis to make it more scientific and accurate , It can promote qualitative analysis to draw extensive and in-depth conclusions.

 

R2:

 

Quantitative analysis is based on statistical data, the establishment of mathematical models, and mathematical models to calculate the indicators and their numerical analysis of a method. Qualitative analysis is mainly based on the analyst’s intuition, experience, with the object of the past and the current state of the continuation of the latest information and information on the nature of the analysis of objects, characteristics, changes in the law to make a judgment.

 

 

Question 9

In the table below, explain the use of survey instruments in market research.

  • identify three survey instruments
  • describe three characteristics of each instrument
  • word count is not necessary
Survey Instruments Characteristics
Home visit summary When choosing to use home-based access method, it is generally appreciated that home-based access can use random sampling method to ensure that the sampled sample is consistent with the overall urban population structure. Therefore, in the process of using home-based access, “sampling” is One of the important and crucial part.
Field sampling The way of locally investigate
Spss Statistical Products and Services Solutions software. The original software called “Social Science Statistics software.
   
   

 

 

 

 

Assessment Event 2: Fit Life Simulation

In this assessment, you will undertake a number of tasks associated with conducting market research for Fitlife. In this simulation you will perform the following actions:

  • Conduct desk research and develop research methodology for the market research project
  • Recruit and interview respondents using a survey method
  • Analyses data and information and writes research report.

Please ensure that you familiarise yourself with this set of requirements that underpin this simulation. This includes understanding the background of the simulation and the criteria you will be assessed on. These are located in the Appendix of this document.

Task 1: Conduct desk research to gather background market information

In this task you will undertake secondary research as an exploratory mechanism to understand the project and then to further develop profiles on the target group.

1.1 Summarise the background to the market research project

  • review the document (Project Plan) and the Simulation Background, then summarise:
  • What is Fit Life?
  • Who is the target market to be researched?
  • Why were they selected?
  • Word count is approximately 50 words.

At present, the fitness entertainment market in our country presents diversified features, including the national fitness sports venues, special leisure sports clubs, aerobics fitness centers and comprehensive health rehabilitation centers. In the United States, one out of every eight people is at workout and an average of more than 10,000 people owns a club

 

1.2 Identify and seek approval with protocols and format for information collection

  • identify the parameters for using secondary data and information using the Market Research Policy and Procedures document
  • identify format for tabling the secondary information
  • seek approval from the Marketing Manager (Assessor) with these parameters and formats
  • adjust parameters where required
  • attach the email exchange with your Manager
  • word count is approximately 50 words

 

One is a survey of the types of each gym. To exist in the form of: chain fitness clubs (franchise and Direct), independent fitness clubs, hotel / apartment fitness clubs, community fitness clubs and so on. The fitness industry is a booming emerging industry and the brightest area of the world fitness market. The number, quality and size of fitness companies will continue to improve. For fitness clubs, more clubs operate in a formal way and local developments evolve into nationwide and even global chain development.

 

 

1.3 Conduct desk research and report on initial research findings

  • research and identify the following on the target group:
  • lifestyle of young and single category
  • products and services consumed
  • competition in selected location
  • word count is approximately 300 words

 

People’s fitness awareness has been greatly improved due to the improvement of people’s living standards and advocacy of the National Fitness Program. In addition, more and more young white-collar workers have joined the ranks of the fitness sector due to the accelerating pace of urban life and work pressure. At this stage, Office buildings, neighborhoods dotted around residential areas, to provide people with more convenient fitness services.  As the fitness and entertainment market can effectively stimulate the consumption of residents, in line with the national policy of stimulating domestic demand and stimulating economic development, it is expected to receive further government support. At the same time, a development trend requiring special attention is that people’s health needs are gradually shifting from passive treatment to active preventive health care. This also indicates that the future of fitness and recreation The market is bound to develop in a scientific, health and sports and recreational fashion. In short, sports and fitness industry in our country also belong to the emerging industries in the early stages of growth, it is a promising sunrise industry, with great market potential.  Pay attention to work and rest, work habits must be the law, must not play and stay up late, and to ensure a healthy diet, maintain a positive attitude, and actively respond to everything, I believe that health will follow you. At this stage many people have a misunderstanding, the coach is a youthful meal, to a certain age can not engage in, was forced to switch. This is a very one-sided view. First, at this stage a large number of trainers who have not been systematically trained and who have not kept on learning, are replaced by the fresh blood of the industry. Second, coaching this profession has different suitable courses and positions at different ages. The coaches who work one year and work ten years will have a certain gap in all aspects. This law is common in all industries.

Task 2: Develop research methodology and objectives

In this task, you will plan their market research by scoping the project in terms of what needs to be researched, the methodology and data collection.

2.1 Develop research objectives for the project

  • write a research objective
  • word count is not critical

The research objective is to analysis the marketing of fit.

 

2.2 Develop research questions for one research objective

  • develop a minimum of six research questions:
  • each question aligns to the research objective
  • each question is specific and measurable
  • each question does not duplicate each other
  • word count is not critical

 

How many times a week fitness?

Under what circumstances will consider going to fitness?

 

2.3 Develop a hypothesis for each research question

  • develop a minimum of six research hypotheses:
  • each hypothesis aligns to the research question
  • each hypothesis is specific and measurable
  • each hypothesis does not duplicate each other
  • word count is not critical

Feel the body is not very good state will go to fitness.

Go to three times a week more.

 

 

2.4 Identify and develop data collection method

  • select a minimum of one method to collect data and information which must include a survey:
  • each method(s) specifies which research questions it is addressing
  • contains a minimum of ten questions
  • word count is not critical

 

There are many ways to collect data, such as questionnaires, access to information, field test, test. Different data collection is not the same depends on what you are so surveyed and surveyed.

2.5 Identify options for quantifying data

  • select Excel as the preferred spreadsheet processing software
  • select and create a scale for quantifying data
  • provide a rationale for this selection
  • word count is approximately 100 words

 

Although quantitative analysis can help us measure risks and benefits more conveniently and intuitively, it is important to point out that Emmanuel Derman, a top quantitative finance guru on Wall Street in the United States and a famous professor at Columbia University, In the article “Wall Street,” we have no bravery to admit that it is simply impossible (through mathematical analysis) to create a model that predicts how stock prices will change; and if we believe that human behavior can fully comply with mathematical laws, If the confined model is confused with the theory, the result will surely be a catastrophe.

 

2.6 Test and amend survey tools

  • test survey tools with a pilot as follows:
  • record data
  • collate data
  • make an analysis of data
  • make adjustments to the tools if required
  • Provide an explanation for this adjustment
  • word count is not critical
  1. Processing data. Methods are:

1.1. Convert data. Including: (1) data extraction. (2) conversion expression 2. deduction argument. Including (1) deduction. (2) to summarize the law. (3) logical judgment 3. Statistical analysis. Including (1) mathematical statistics. (2) analyze the trend. 4. Eliminate the error.

Task 3: Recruit respondents

In this task, you will commence implementation of their market research tools by identifying a set of respondents.

3.1 Interpret market research plans to identify potential respondents

  • review information from the Project Plan and describe the potential respondents
  • word count is not critical

3.2 Identify respondents in line with research principles

  • review the Project Plan document and identified sample size for targeted group
  • explain why they calculated this size
  • word count is approx. 50 words

3.3 Recruit respondents in line with organisational requirements

  • review the document Market Research Policy and Procedure as follows:
    • summarise this document by listing a minimum of five key processes
    • these key processes must be in your own words
  • word count is approx. 75 words

 

 

 

Task 4: Gather data and information from respondents

In this task, you will conduct the research process with respondents.

4.1 Prepare and arrange resources for data gathering

  • organize resources required for the collection of data and information
  • set up the environment and equipment

 

Quickly and easily retrieve and import data: Supports data retrieval from multiple data sources, integration of various data sources, access to internal data sources, access to web data sources and files, and even pre-defined data.

 

4.2 Gather and record data and information using tools

  • recruit 20 respondents as per the Project Plan
  • gather data and information from these respondents
  • hold an observation session with one of the respondents:
    • complete the interactive session in 30 minutes
    • all actions must meet the criteria provided in the Observation Check Sheet in Appendix B
  • record all data and information gathered from the respondents

After choosing the behaviors or activities that are ready to be observed by the sample method, the following steps need to be taken to determine the proportion of the time it occupies: designing the observation method, determining the length of the observation, determining the initial number of samples, selecting the random observation time ; Observe and retrieve data; check if more samples are needed. and many more.

Example: A hospital is considering the introduction of an automated medical record-keeping and retrieval system. In order to determine whether the system is properly introduced (its usability, economy), hospital leaders need to know the percentage of working time spent by nurses on medical records.

 

4.3 Store information and data

  • securely store research information and data in accordance to the organisational procedures
  • produce screen shots of their record keeping system and attach to your Student Assessment Workbook

A hard drive is a magnetic media-based data storage device that stores data on a number of disks enclosed in a clean hard disk drive cavity. These disks are generally formed by coating a surface of a base substrate made of aluminum with a magnetic medium. On each side of the disk, a plurality of concentric circles having a rotational axis as an axis and spaced at a certain magnetic density Is divided into tracks (tracks), each track is divided into a number of sectors (sector), the data stored on the hard disk by the sector. There is a read-write head on each side, so that all the tracks of the same head of different heads make up the so-called cylinder. Traditional hard disk read and write are based on cylinder, head, sector addressing mode (CHS addressing). The hard disk is rotated at a high speed (more than 5400 rpm) after power-on. The head on the head arm is suspended on the surface of the disk and can be moved between different cylinders by a stepper motor to read and write different cylinders. Therefore, if the hard disk is subjected to severe oscillation during power-up, the surface of the disk is easily scratched and the magnetic head is also easily damaged, which will all have disastrous consequences for the data stored on the disk.

Task 5: Analyse research information

In this task, you will analyse the data and information collected from respondents.

5.1 Process data and information for analysis

  • prepare the spreadsheet:
  • structure the rows and columns
  • design the layout
  • enter the data and information collected
  • review the data and information collected:
  • identify all inaccurate entries
  • apply data cleaning
  • code qualitative information:
  • list a minimum of five distinct categories
  • aggregate responses under these categories

5.2 Apply data analysis techniques

  • create a minimum of three different charts to visualize your data
  • apply a minimum of two different statistical techniques to your data
  • attach your output to your Student Assessment Workbook

5.3 Summarise findings

  • interpret findings:
  • describe each chart
  • describe each statistical technique applied
  • word count is approximately 50 words per description

The relationships between the elements of the matrix can be more accurately collated and analyzed if the data can be quantified. This can be expressed using the data matrix method, called matrix data analysis. Of the seven new QC tools, Data Matrix Analysis is the only way to analyze problems using data, but the results are still graphically represented.

It is a way to quantitatively analyze the problem. At present, Japan is still widely used, just as a “reserve tool” put forward. The application of this method often requires the use of electronic computers to solve.

 

 

Task 6: Prepare research reports

In this task you will use the analysed data and information and prepare a report for the Marketing Manager.

6.1 Collate and assess findings to produce report

  • organize data and information to produce a market research report that will include descriptions of:
    • Introduction
    • Research design
    • Findings and discussion
    • Recommendations
    • Conclusion
  • word count is approximately 700 words

6.2 Communicate research findings to relevant personnel

  • send email to the Marketing Manager:
    • include covering letter that summarized findings
    • request opportunity to make a presentation to management
  • attach the records of this email to your Student Assessment Workbook
  • word count is approximately 100 words

 

 

 

Appendix A: Fit Life Simulation

Fit Life Simulation Background

Fit Life is a privately owned Australian health club chain with 70 health clubs and 182,000 active members across Australia. With a Head Office in North Sydney, Fit Life is one of the market leaders in sport and fitness with a range of products and services at the high of the market. All centre’s offer:

  • Gym for weightlifting and cardio
  • Classes (Pilates, Yoga, Body Pump, Cycle, Body Attack, Full Body Lift, and Fat Burner, Cycle spin).

 

Fit Life is intent on furthering its competitive edge in the marketplace by developing products and services that meet the needs of the market. By increasing customer satisfaction it is envisaged that sales will also increase.

They have requested that Market Research Officer conduct market research to estimate the interest in membership with the Centre in the location of the RTO College.

Simulation Phases

This simulation is divided into the following phases:

Phase 1: Conducts desk research and develops research methodology.
   
Phase 2: Recruits and interview respondents using survey/interview tools.
   
Phase 3: Analyses data and information and writes research report.

Your Role in the Simulation

You will be the Market Research Officer of Fitlife in the simulation. Your roles and responsibilities in the simulation are as follows:

Phase 1:

Phase 1 occurs from Task 1.1 to Task 3.3. In Phase 1, where you will perform the following:

  • review available secondary data and information
  • report on initial findings
  • develop research methodology

Phase 2:

Phase 2 occurs in Task 4.1 to Task 4.3. In Task 4.2, you will interact with twenty stakeholders who will be actual respondents for the market research; this is stipulated in your Project Plan. Note that your Assessor will observe your interaction with one respondent during either an interview or survey. During this observation, your Assessor will not play a role as they will be observing your interaction with the respondent and documenting evidence in the Observation Check Sheet provided in Appendix B.

This observation will have a duration of 30 minutes where you will interact with one respondent to gather data and information using your tool. In Phase 2, your main duties in the organisation are as follows:

  • preparing and arranging resources for data gathering
  • gather data information using the survey tools
  • record data and information

Phase 3:

Phase 3 occurs from Task 5.1 to Task 6.3. In Phase 3 your main duties in the organisation are as follows:

  • conduct checks on the quality of data and reject those that are not valid
  • analyses data an information
  • compile a market research report

Assessment Conditions for the Observation

The information in this section outlines the assessment conditions for the Observation which occurs in Phase 2 and involves your interaction with a respondent.

Before the Observation:

  • you must ensure that you have read and understood any documents required to undertake the Observation
  • you must ensure that you have read and understood all performance requirements listed under each task
  • you must ensure that you have read the requirements listed in the Observation Check Sheet as your performance will be judged based on these criteria (see Appendix B)
  • your Assessor will inform you of the date of your Observation

During the Observation:

  • you will be interacting with the one respondents who is part of your target audience
  • it has a total duration of 30 minutes
  • other students will not be observers during the session as this will give them an unfair advantage
  • you cannot refer to the Observation Check Sheet while undertaking the Observation
  • your Assessor will:
    • observe you individually based on the criteria in the Observation Check Sheet
    • document their observations in detail on the Observation Check Sheet
    • provide extensive written feedback
    • ensure that the session will be free from distractions
  • you must comply with WHS requirements
  • you must demonstrate all the criteria in the Observation Check Sheet to achieve a satisfactory result for the Observation

If you are not successful, after the observation, the Assessor will:

  • provide written feedback on the Observation Check Sheet explaining their justification in detail
  • communicate this feedback to you
  • arrange another suitable time to observe your second attempt

Appendix B: Observation Check Sheet

We have provided the Observation Check Sheet(s) for you to prepare for your assessment with the Assessor. Remember, you will not be able to use this Check Sheet(s) during this session. However, we recommend you use this as a planning tool so that you are fully prepared for the observation.

Note that you must demonstrate all the criteria listed in the following Observation Check Sheet(s) to be deemed satisfactory.

Performance Requirements
1.       Preparation:
o  resources for data collection:

­   has sufficient copies of tools available

­   identify worn

­   has privacy and background to the research project available

­   appropriate venue / room

­   organization of furniture’s such as tables, chairs are appropriate

­   set up of audio visual and or telecommunication equipment

­   pens and any other resources required are available

o  introduction:

­   welcome respondent

­   be friendly

­   show identity

­   explain background to research

­   give duration required

­   state that participation is voluntary

­   explain confidentiality of data

2.       Collect data and information:
o  use survey tool appropriately:

­   verbalize each question

­   provide hard copy to respondent

­   follow all parts of the tool

­   do not lose focus

­   record data and information as it is received

­   respond to questions by respondent appropriately

o  ensure accuracy:

­   record data and information accurately

­   do not coerce the respondents views

­   clarifies understanding

­   confirms understanding

3.       Conclusion:
o  provide adequate closure:

­   review purpose of research

­   explain the next step in the research process

­   reassure respondent about confidentiality will be maintained

­   thank respondent

­   store recorded tool in appropriate manner

4.       Appropriate Communication Skills for respondent:
o  body language skills demonstrates the following:

­   maintain eye contact

­   appropriate facial expressions

­   posture must be appropriate

­   gesture fit message

o  verbal skills:

­   vocal pitch must be appropriate

­   tone must be pleasant

­   pace must be at the right speed to achieve clarity

­   volume must be appropriate for participants

­   message is clear

o  use appropriate interpersonal skills:

­   listen attentively

­   do not interrupt

­   be patient and stay calm and positive

­   encourage the respondent to give input with appropriate questioning

­   validate this input

­   use questions and or statements to clarify understanding

o  sensitive to the cultural diversity of the respondent:

­   avoid jargon

­   be easy to understand

­   level of formality must show respect

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  For Assessor Use Only  
   

Task Outcome Sheets

The Outcome Sheet below is the assessment tasks for each of the assessment event 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. As for your final 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’.

Assessment Event 1

Assessment Event 1 Knowledge Questions S NYS Comments
Question 1      

 

 

Question 2      

 

 

Question 3      

 

 

Question 4      

 

 

Question 5      

 

 

Question 6      

 

 

Question 7      

 

 

Question 8      

 

 

Question 9      

 

 

The student’s performance for Assessment Event 1 is o Satisfactory o Not-Yet-Satisfactory
Assessor Signature: Date:  

 

 

 

Assessment Event 2 – Fit Life Simulation

Assessment Event 2 S NYS Comments
Task 1:

Conduct desk research to gather background market information

Sub Task 1.1      

 

 

Sub Task 1.2      

 

 

Sub Task 1.3      

 

 

Task 2:

Develop research methodology and objectives

Sub Task 2.1      

 

 

Sub Task 2.2      

 

Sub Task 2.3      
Sub Task 2.4      
Sub Task 2.5      
Sub Task 2.6      
Task 3:

Recruit respondents

Sub Task 3.1      

 

Sub Task 3.2      

 

Sub Task 3.3      

 

 

 

Task 4:

Gather data and information from respondents

Sub Task 4.1      
Sub Task 4.2      
Sub Task 4.3      
Task 5:

Analyse research information

Sub Task 5.1      
Sub Task 5.2      
Sub Task 5.3      
Task 6:

Prepare research reports

Sub Task 6.1      
Sub Task 6.2      
The student’s overall performance is o Satisfactory o Not-Yet-Satisfactory
Assessor Signature: Date:  

 

 

 

 

 

 

 

 

 

 

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