Question

(**I would like Australian examples please.

Please provide examples from Australia .)

You need to demonstrate that you can use statistical data to interpret market trends and developments.

(**I would like Australian examples please.

Please provide examples from Australia .)

For a specific organisation you must:

(Provide example from Australia)

Develop a research plan that will enable you to gather both quantitative and qualitative data about internal and external conditions that affect the market and your organisation’s product/ service positioning within the market.

Explain what data you are collecting and why you believe this data is relevant and useful. If you used surveys, submit the surveys and survey results to the assessor. If you used other data sources like sales figures or other research submit these also.

You need to identify, through appropriate data analysis, trends and developments that will impact on current products/ services and/or that might offer new opportunities for the organisation.

You should analyse the collected data in order to develop forecasts and to make reports about the organisation’s ongoing business activities.

What tools will you use to analyse the data? Explain why these tools are the best.

Once the data is analysed present it in ways that make it readable and useful, for example graphs, tables etc.

What information have you gleaned from the data analysis and how is it likely to impact on business operations, for example does it offer new opportunities or are there products and services that should be closely examined with a view to termination etc? Summarise the data analyses.

Analyse the market performance of existing competitors and their products or services, to identify potential opportunities or threats to the organisation. Select the necessary tools and software applications. What tools did you use to do this and what were the results? Make a visual presentation of the information.

Write a formal report on the findings of your research—on the trends and developments identified and incorporating the statistical analysis and interpretation of the market trends and developments.

Statistical analysis might include:

measures of central tendency

dispersion

correlations between sets of data

z-test, t-test, chi-square significance tests

causal relationships

time series analysis etc

Use the information that results from the analyses to make suggestions or recommendations about over-performing and under-performing products and services and/or about the trends and developments that will affect the way forward for the organisation.

Alternative assessments:

If you have completed a market analysis in your current or a previous workplace and can provide documentation that proves this—qualitative and quantitative data collected from relevant sources; statistical analyses using a range of methods, tools and software; visual presentations and formal reports etc—you can submit this to your assessor.

The analyses will need to cover:

market trends and developments comparative market information

market performance

under and over performing product

forecasts developed as a result of the analysis

(**I would like Australian examples please.

Please provide examples from Australia .)

Answer 1

Internal and External conditions that affect the market :-

INTERNAL CONDITIONS :-

1) Operation influences :-

These influences have a great impact on internal structure and customer base of the product/service. Poor services to customers by Vodafone in Australia tempted the customers to switch to another network taking away business from Vodafone.

2) Location influences :-

The business location must be convenient to the customers to access the place and reach out without much effort.

3) Resource influences -

The four major resources that influences the business performance are human resources, information resources, physical resources, financial resources .

4) Management influences :-

The levels of management , their hierarchy exerts a major influence upon business ideas and service management.

A food fight case in Australia West farmers vs. Woolworth's . The West farmers changed their business culture by outgoing management change which has proven to be successful for them .

EXTERNAL CONDITIONS :-

1) Economic influences :-

The economic cycles of booms and bursts exerts a major influence on price of items , employment and sales levels .

The floods impacted the grocery prices in Australia drastically impacting the businesses because all crops were destroyed ,due to which farmers were unable to make any profit bringing the economy under pressure

2) Geographic influences :-

With the increased globalization the Australia imports apples to their country . Another influences are from Asia Pacific region as a large number of Companies are located in that region .

3) Policy influences :-

Policy influences like deregulation, extermination , globalization drastically impacts the financial management of the businesses .

A policy introduced in 2000 with a GST of 10% affected businesses in a way where they had to collect taxes on behalf of the government.

4) Institutional influences :-

Regulatory bodies like Australian Competition and Consumer Commission , trade unions , Australian Stock exchanges makes time to time policies for improvement of working condition and pay rates that directly influences the customers.

5) Technological influences :-

New technology helps to improve productivity and efficiency of business . The improvement in communication technologies has reduced the delays due to communication between the supplier and the customers.