Assessment Title Assessment1 Research the Market
Assessment Title Assessment1 Research the Market
Competency Details
Unit code/s and title/s BSBESB404 Market new business ventures
Qualification code/s and title/s BSB30220 - Certificate III in Entrepreneurship
BSB40320 Certificate IV in Entrepreneurship and New Business
BSB40820 Certificate IV in Marketing and Communication
Business unit/Work group Business and Arts / Business Sector
Instructions
Method/s of assessment Questioning (Written)
Overview of assessment Assessment 1 Research the Market
This is a knowledge assessment.
You will beassessed individually
Thereare five (5) questionsin total
Task/s to be assessed The questions will assess your knowledge of the following:
You will access the Bounce Fitness simulated business policy and procedures to assist you in answering these questions (these can be accessed by clicking on the relevant links in the questions below).
Knowledge of workplace processes and procedures for:
Key features of marketing mix that addresses market and business venture needs
Methods of analysing costs and benefits
Ethically and culturally appropriate practices relating to marketing
Performance evaluation methods
Monitoring customer satisfaction
Conducting marketing research
Key features of digital devices, platforms and technologies that help achieve marketing objectives
Time allowed Students will need to submit assessment by week three (3) or as negotiated by your assessor.
This assessment will take approximately three (3) hours.
Location of assessment Online with internet access
Decision making rules To receive a satisfactory outcome for this assessment, you must complete all five (5) questions and provide short answer responses to all questions. All responses must answer the question correctly.
If assessed as unsatisfactory you will be provided feedback and given two (2) weeks to complete the resubmission against the same assessment tasks.
Assessment conditions This assessment is unsupervised and must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
business technology
workplace documentation and resources relevant to performance evidence.
Resources required TAFE SA facilitiesor alocation withequipment and infrastructure required:
Access to a computer with internet access
Access to the TAFE SA network
Office 365
Access to LEARN
Unit Assessment Outline
Specific resources for this unit:
Bounce Fitness Corporate marketing planResult notification and reassessment information Result notification
The assessment result will be satisfactory or not satisfactory.
Your educator will provide feedback through the LEARN platform if studying online or verbally/via email if studying in the classroom.
Your educator will result a final grade for the unit once you have successfully completed the unit.
Reassessment
All students are entitled to two attempts to achieve each assessment task within any unit enrolment period.
Students assessed as unsatisfactory will be provided feedback and given time to complete the resubmission against the same assessment tasks
Re-assessment timeframe will be negotiated with your assessor.
Assessment 1 - Short Answer Knowledge Questions
Question 1
Review the Bounce Fitness Corporate Marketing Plan from the link provided below:
Bounce Fitness Corporate Marketing Plan
Answer the following questions:
Word count: approximately 20 words per section
Explain the current pricing strategy that is a part of the marketing mix for Bounce Fitness
Identify and provide an overview of the three (3) current market needs of Bounce Fitness customers.
Explain how the marketing mix addresses current marketing needs and assist Bounce Fitness in reaching their target market.
Review the Strategy Pyramids section of the marketing plan and explain why the current promotion methods are used.
Question 2
Answer the questions about marketing new business ventures through ethical and culturally appropriate means.
Word count: approximately 20 words per section
Briefly explain ethical appropriateness in advertising.
Identify at least five (5) principles of ethical marketing that must be considered by a business owner.
Briefly explain cultural appropriateness in advertising.
Complete the table below.
Explain how an organisation can exercise cultural sensitivity for each aspect of culture outlined below.
Word count: 30 50 words per aspect
Aspect of Culture How Organisation can Exercise Cultural Sensitivity
Language
Religion
Demographics
Socioeconomic class
Question 3
Answer the questions about performance evaluation methods relating to marketing strategies.
You must briefly explain how each of the following cost-benefit analysis tools work and how they can be used in developing marketing strategies for your business.
Word count: 30- 50 words per section
SWOT Analysis
PESTEL Analysis
Briefly explain how each method monitors customer satisfaction.
Word count: 30- 50 words per section
Feedback Forms
Google Analytics
Briefly explain how each of the following is used to evaluate marketing strategies.
Word count: 30- 50 words per section
Referrals
Organic Reach
Question 4
Answer the following questions about conducting market research and analysis.
Briefly define the two types of research outlined below and provide examples for each.
Word count 20 words per section
Primary (field) research
Secondary (desk) research
Explain what type of information each method gathers for research and analysis and how this information can assist in developing marketing strategies.
Word count: 30 50 words per section
Focus Groups
Surveys
Participant Observation
Interviews
Question 5
Complete the tables outlined below:
Identify at least two (2) features of each digital marketing tool outlined below
Briefly explain how each digital marketing tool contributes to engaging, responding, and monitoring customer
(word count: 50 words per device, platform and technology)
Digital Devices:
Name of Device 2 features of each Device Explanation of how having each device assists a business to respond to and monitor customer needs?
Digital Platform:
Name of Platform 2 features of each Platform Explanation of how having each platform assists a business to respond to and monitor customer needs?
Digital Technology:
Name of Technology 2 features of each Technology Explanation of how having each technology assists a business to respond to and monitor customer needs?
Assessment Title Assessment 1
Your Business and the Law
Competency Details
Unit code/s and title/s BSBESB403 Plan finances for new business ventures
Qualification code/s and title/s BSB40320 Certificate IV in Entrepreneurship and New Business
Business unit/Work group Business and Arts / Management Program
Instructions
Method/s of assessment Questioning (Written)
Overview of assessment This is a Research report.
This is a knowledge assessmentYou will beassessedindividually
There are two (2) parts in total.
Overview of the Research Report:
The purpose is to assess your knowledge of business financial legal requirements and financial terminology.
Part 1.1 Your business and the law Research report
Part 1.2 Financial terminology definitions
Task/s to be assessed Part 1.1 Your business and the law Research report
You are required to provide researched answers for each five (5) sections in a separate word document.
The report has a word guide of 500 words in totalPart 1.2 Financial terminology definitions
You are required to provide researched answers for each term in the separate word document.
All five (5) definitions will have a total word guide of 100 wordsFor this assessment:
Read the questions carefully before you start your responsesYou are required to provide short answer responses for each questionEach response has a guide or a word count guideYou will access the below template and submit the completed template via TAFE SA Learn
If you do not understand any of the questions, ask your trainer/assessor for helpNote:
Face-to-Face classes - Assessment Task Detail (ATD) and submit the completed template via TAFE SA Learn (if studying online) or in person/via email to your lecturer if studying via classroomTime allowed This assessment will take one (1) week. Due in week two (2), or as negotiated by the assessor.
Note: Face-to-face classes - Due one (1) week from the end of the last workshop, or as negotiated by the assessor.
Location of assessment At TAFE SA, the workplace or an environment with computer and internet access.
Decision making rules To receive a satisfactory outcome for this assessment you must answer all questions correctly.
If you have been assessed as not satisfactory will be provided feedback you will be given two (2) weeks to complete the resubmission against the same assessment tasks.
Assessment conditions The assessment must be conducted in a safeworkplace or simulated environmentand will include access to:
The internet to research business and legal topics
www.ato.gov.au website
Resources required TAFE SA facilitiesor alocation withequipment and infrastructure required:
Access to a computer with internet access
Access to the TAFE SA network
Access to LEARN(if studying online)
Unit and Assessment Outline (UAO)
Access to class resources - assessment booklets, handouts and templates
Access to www.ato.gov.au website
Result notification and reassessment information Result notification
The assessment result will be satisfactory or not satisfactory.
Your educator will provide feedback through the LEARN platform if studying online or verbally/via email if studying in the classroom.
Your educator will result a final grade for the unit once you have successfully completed the unit.
Reassessment
All students are entitled to two attempts to achieve each assessment task within any unit enrolment period.
Students assessed as unsatisfactory will be provided feedback and given time to complete the resubmission against the same assessment tasksRe-assessment timeframe will be negotiated with your assessor.
Assessment 1 Your Business and the Law
1.1 Research Report - Your Business and the Law
You are required to conduct research into each of the topics below andanswer the corresponding questionsin your own words. You must ensure the followingrequirements: -
You avoid using dot points - please ensure you use sentences
You explain your answers (Expand your responses on your research findings)
You meet the minimum word countYou must check that spelling, grammar, and English are of a professional standard
You must proofread your report before submitting it
(Minimum 500 words)
Keeping Good Records
Tax law states that you must keep records that explain all your business transactions.
Identify two (2) of the record keeping rules relating to HOW you keep business recordsList four (4) types of records that you must keep that are relevant to your businessIncome Tax
What is meant by the self-assessment principle?
Give two (2) examples of assessable income for your business and two (2) examples that are not assessable income for your businessGive four (4) examples of Allowable deductions for your business and three (3) examples of business expenses which you cannot claim as a deductionWhat is the last date that you can lodge a tax return?
How GST Works
What is the GST threshold for a business?
Briefly explain how GST works, including the calculation to determine the GST Liability for a business.
Identify five (5) requirements of a Tax Invoice
What are the timeframes for reporting GST to the ATO? What is the name of the report?
Securing Finance
Research costs involved in securing finance with a bank of your choice. Provide the name of the bank and type of loan you researched. List the following costs/fees:
Application/Establishment cost/fee
Loan Service/Monthly administration cost/fee
Financial Reports
There are three (3) main financial reports as listed below. In your own words provide an overview of the purpose of each financial report/plan.
Balance Sheet
Profit and Loss Statement
Cash Flow Forecast
1.2. Financial Terminology Definitions
Research and define the following financial/accounting terms that relate to planning finances for new business venturesOwners Equity
Turnover (including how it differs from profit)
Breakeven
Overheads
Cost of Sales
(Minimum 100 words)
