BEST BSBMKG506 ASSIGNMENT SAMPLE

BEST BSBMKG506 ASSIGNMENT SAMPLE

Question 1:(BEST BSBMKG506 ASSIGNMENT SAMPLE) 

  1. Australia’s new telemarketing do-not-call legislation came into effect on 31 May 2007.http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  2. While there are quite a lot of exceptions (eg market research calls, charities, and political parties) it is now illegal for telemarketers to call Australian phone numbers which are mainly for personal or domestic use and whose owners have put them on the do-not-not call register.
  3. From late 2001 the Australian Federal Government provided individuals with privacy of information protections under the law. These are covered by the Federal Privacy Act.
  4. The Australian Communications and Media Authority (ACMA) and the Australian High Tech Crime Centre are working in partnership to identify and track down organizations or individuals who breach Australia’s Spam Act 2003.http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  5. The Advertising Standards Board provides a free public service of complaint resolution (gov.au. 2019).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  6. Only companies who have registered a trade mark with the Australian regulatory agency, IP Australia, may use the ® symbol and have a legal exclusivity on their trade mark.

Question 2:

The general rules of Australian Social and Market Research Society Code of Professional Behavior are directed towards the evolving nature of research practice and the advent of digitalization (Sushant et al., 2017).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

There are four main segments: transparency of performances, responsibilities to be taken up in keeping the trust of the clients, privacy must be maintained in terms of confidential data and legal adherence must be maintained at all times.

Question 4:

A market research is often swayed by the beliefs he possesses. This should be avoided and the researcher should not assume that anything while collecting the data.

Data confirmation bias is a common error in market research that can potentially lead to wrong results. In order to avoid this, researcher must keep re-evaluating the questions and interpretations that has been made.

Question 5:

Define the Problem or Opportunity: In order to begin collecting data, it is very important to have a clear idea about the aim of the research and wherefrom the data are to be gathered.

Develop Your Marketing Research Plan: To develop a concrete research plan it is important to know the market well through interviews and surveys and analyze the results.

Collect Relevant Data and Information: The data collected must be strongly relevant to the market research as vague data would be quite misleading (Ager et al., 2018).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

Analyze Data and Report Findings: Once the data is collected it has to be well analyzed that would lead to proper recommendations on the steps to be taken on the results.

Put Your Research into Action: Based on the researched conducted, the strategies could now be built.

Question 6:

  1. The processing of data is needed because of need for the correct testing of hypotheses that is an essential part of the market research.
  2. Reducing raw data into organized variables is an important element of market research. The data that would be collected for the research would be of a large size and they would be hard to analyze if not processed.
  3. Editing, coding, classification and tabulation are the four steps required for the complete processing of data.

Question 7:

  1. Quantitative data is defined as the value of data in the form of counts or numbers where each data-set has a unique numerical value associated with it.
  2. This data is any quantifiable information that can be used for mathematical calculations and statistical analysis, such that real-life decisions can be made based on these mathematical derivations (Ruffin, 2018).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  3. Quantitative data are generally gathered through surveys. These give rise to numerical data against the various variables associated with the questions asked (Beck, 2018).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  4. The other source of quantitative data would be secondary data sources like journals, articles, newspapers, or government websites where a survey data is already available.

Question 8:

Qualitative research is generally associated with an explanatory or exploratory research design.

This type of research is more elaborate with the presentation of data and takes into consideration the opinion of others. Human perspective plays an important role in this research.

The sources of qualitative data are secondary data sources that give contemporary market data non-numerical in nature. Reports, news, articles are secondary sources of qualitative data while interview is a primary source.

Question 9:

  1. Narrative analysis: This method involves the reformulation of stories presented by respondents taking into account context of each case and different experiences of each respondent.
  2. In other words, narrative analysis is the revision of primary qualitative data by researcher.
  1. Framework analysis: This is more advanced method that consists of several stages such as familiarization, identifying a thematic framework, coding, charting, mapping and interpretation (Stratton, 2017).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  1. Grounded theory: This method of qualitative data analysis starts with an analysis of a single case to formulate a theory. Then, additional cases are examined to see if they contribute to the theory.

Question 10:

  1. Descriptive analysis: Descriptive analysis relates to the first level of analysis that consists of the derivation of mean, median and modes that refer to the central tendency.
  2. The frequency, percentage and range calculations also fall under descriptive statistics that find meaning based on the responses associated with the questions (Bruggeman, D.A., 2018).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  1. Inferential analysis: correlation and regression: Inferential analysis is more complex compared to descriptive analysis.
  2. While correlation throws light on relationship between two variables, regression predicts values of the random variables based on the ones that are fixed, given the relation between the variables.
  1. Inferential analysis: ANOVA: ANOVA is the analysis of variance that tests the dependability of the hypothesis in the model by testing the significance of statistical relationships between two or more groups of variables.

Question 11:

Both qualitative and quantities analysis are important for a successful research as they have unique qualities that cannot be overlooked. Qualitative research is needed to gain insight about the opinions of various experts and maximum perspectives can be included hence eradicating the chance of research bias.

Quantitative analysis on the other hand is needed because of the dependability of the data based on a large sample that covers the market.

Question 12:

Sampling principles refers mainly to a mathematical function that provides us  with the probability of a drawn sample.

Here are two main principles of sampling design: principle of statistical regularity and principal of inertia of large numbers.

The principle of statistical regularity refers to the mathematical function where the sample is selected at random.

According to this principle, a large size of sample would better represent the population than a smaller one (Eikon et al., 2016).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

The principle of inertia of large numbers implies that a large size of a sample would provide more accurate results.

Large numbers, according to this principle, is more stable than small numbers, and hence the dependability on a larger sample is more than that on a small sample. The quality of the size of the sample is dependent on the size of the total population of the market.

Question 13:

Probability sampling is a sampling technique, in which the subjects of the population get an equal opportunity to be selected as a representative sample, while non-probability sampling is a method of sampling, wherein, it is not known that which individual from the population will be selected as a sample.

Simple random sampling is a probability sampling where every member of a subset has an equal opportunity of getting selected.

While simple random sampling represents the entire data, stratified random sampling divides the population into different groups based on similar properties.

Non probability sampling does not give the members an equal probability an equal opportunity of getting selected. Convenience sampling and quota sampling are two methods of non-probability sampling.

Question 14:

A hypothesis is used in an experiment to define the relationship between two variables.

The purpose of a hypothesis is to find the answer to a question. A formalized hypothesis will force us to think about what results we should look for in an experiment (Serenaded, 2017).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

This is very crucial for market research. A hypothesis must have the capability of explaining what the researcher expects to happen through the null hypothesis.

It should be clear and easy to underrated as the research results cannot be based on vague hypothesis or a one that is difficult to be explained.

A hypothesis must be testable and measurable. Both independent and dependent variables must be part of the hypothesis.

Question 15:

Focus: Only by having specific objectives ahead of time, can one expect to obtain usable information from a survey. Those objectives drive the questions that should tie back to a specific objective.

Connection: The quality of the information one gets from the survey depends how well one has connected with the respondents.

Respect: The survey should show respect for the respondents’ time.

Action: The only reason a survey is done because the researcher wants to take some kind of action corresponding to decision making.

Engagement: This principle sums up the other four. If the first four principles are followed, the result will be an engaged respondent and that will mean better response rates and better information.

Question 16:

Before conducting the actual survey it is very important that he researcher tests the questionnaire that is associated with the research.

Conduction of a survey is costly. Pilot tests are effective in identifying the drawbacks in the questionnaire. These errors would be eliminated in the final round of survey.

Question 17:

A Market research guides communication with the customers:

Market research minimizes organizational risk:

Market research helps to establish trends:

Market research allows examining business problems:

Question 18:

The Triple Constraint basically demonstrates in pictorial fashion, the key attributes that must be handled effectively for successful completion and closure of any project.

For thoroughness, the key attributes of the Triple Constraint are itemized as follows:

Cost: The financial constraints of a project, also known as the project budget

Scope: The tasks required to fulfill the project’s goals

Time: The schedule for the project to reach completion

Basically, the Triple Constraint states that the success of the project is impacted by its budget, deadlines and features.

As a manager of that project, you can trade between these three constraints; however, changing the constraints of one means that the other two will suffer to some extent (Hauge, 2016).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

While it’s true that the Triple Constraint is an important part of any successful project, it doesn’t determine success.

Projects are made from many parts, more than the three, albeit major ones, that make up the Triple Constraint.

Sometimes you can’t play around with the Triple Constraint, but those three factors are always at play in the project.

Question 19:

  1. The project sponsor is an individual, often a manager or executive, with overall accountability for the project.
  2. He or she is primarily concerned with ensuring that the project delivers the agreed upon business benefits and acts as the representative of the organization, playing a vital leadership role through a series of areas.
  3. The points of involvement are:
    1. To participate in initial project planning, including developing the project chart and the project scope.
    2. To identify members of Steering Committee and facilitate the work of project management office (optionally).
  • To review changes to the project environment, including schedules, priorities, tasks, etc.
  1. Provision of guidance and expertise is one of the most important responsibilities of a project manager. A sponsor is responsible for championing the project through the processes of sales and marketing and ensuring that the company performs well, not suffering a loss (Badura et al., 2018).http://BEST BSBMKG506 ASSIGNMENT SAMPLE
  2. When project manager fails to resolve issues, it is the sponsor that steps in and takes charge of the situation.
  3. The responsibility of a project sponsor also includes the enhancing of the quality of communication within the organization and also with the external stakeholders.

Question 20:

  1. Peers are people who are at the same level in the organization as you and may or may not be on the project team. These people will also have a vested interest in the product.
  2. Because project managers are in the position of borrowing resources, other managers control their resources. So their relationships with people are especially important.
  3. Internal customers are individuals within the organization who are customers for projects that meet the needs of internal demands. The customer holds the power to accept or reject your work.
  4. Top management may include the president of the company, vice-presidents, directors, division managers, the corporate operating committee, and others. These people direct the strategy and development of the organization.

Question 21:

Step 1: Brainstorming and Planning: This encompasses the frequency of the occurrence of the problem and show severe it is.

Step 2: Guiding Documents: based on the feedback of the taskforce, the results are saved as a guiding document for future assessment.

Step 3: Secondary Data Collection: all relevant available information regarding the problem is gathered (Muller, 2017).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

Step 4: Primary Data Collection: Interview and survey are conducted in order to get deep into the source of the problem,

Step 5: Data Analysis: the data is subjected to analysis.

Step 6: Dissemination: the results are published so that it is easier to understand and gather support.

Question 22:

  1. A project scoping document must contain an overall description of the project followed by the deliverables associated with it.
  2. The rationale behind taking up the project must be clearly mentioned and the constraints associated with the conduction of the project must be identified. All the assumption, inclusions and exclusions must be recognized and listed in the document.
  3. The project manager initiates the development of the project and the project team is responsible for identifying the causes behind the problems.
  4. The document is then subjected to analysis by the project manager and the sponsor. The final approval is delivered by the project manager.

Question 23:

  1. Project management process is an administration process for the planning and control of the services or the implementation of a project. This process begins after the approval by the customer, is based on the contract, and is targeted on the initial values of the process and the general management of a project.
  1. Initiation: Refers to the justification of the need of the project

Planning: After getting the approval the project is thoroughly scheduled and the tasks are planned. This phase consists of the planning of the timeline and budget.

Execution: Once planned, the plan is implemented and the members are allocated with their share of tasks and the formalities are covered (Lacierda et al., 2016).http://BEST BSBMKG506 ASSIGNMENT SAMPLE

Monitor and control: Facing the issues that crop up while the project is on process is a very important task

Close: After the delivery of the deliverables the paperwork is completed and signed

Assessment task 2

  1. Needs of marketing research

Austal Ships is a major ship building company of Australia operating at a global level. The need of the marketing research has arisen because of the falling demand for the services.

The company needs to survive in the transforming global economy for which geographical diversification could be a possible solution.

The company needs to conduct a market research, in a market where ship building is not  much available, yet it has a large coastal line, Indonesia.

  1. Objective
  • To find out whether the demand for shipping services is high in the market or not
  • To identify what types o ships are required to be built: cruise ships or merchant ships
  • To evaluate the cost associated with the building of the research and determine feasibility based on expected returns
    1. Project scope
  • The global market share of the company would increase
  • The company would be providing employment to employees of Indonesia
  • The project should be completed within a period of 2 years within the estimated cost
  • Offering new levels of creativity and innovation with the manufacturing of ships
    1. Stakeholder
      1. Client companies
      2. End customers: trading companies and passengers
  • Government
  1. Investors
  2. Future employees
  3. Indonesian community
  1. Project requirement
  • Connections with several heavy industries in order to ensure that the supply chain is strong and the production is smooth
  • Engagement with the government of Indonesia to be achieved
  • Investors to be encouraged to make more investments through the erosion of incentives
  1. Assumption
  • There is a high demand for shipping services and the existing manufacturing companies are not being able to meet the needs
  • The government is quite cooperative
  • There are skilled and unskilled labor in the market who would be available at a relatively cheaper rate
    1. Constraints
  • The time required for the project is quite less
  • Lack of potential investors in the new market
  • Not a very large available space
  • Acceptance by local community would be challenging
    1. Deliverables and inclusions
  • Various inputs required for the building of ships
  • Cash required for the project
  • Project plan would be delivered
  • Manufacturing plant would be developed
    1. Exclusions
  • Small parts of the ships like gear of windows
  • Associated items like life jackets
    1. Risks
      1. Highly volatile economic condition
      2. Entirely new market
  • Changing government policies
  1. Time frame and milestones
    1. The project would be completed in 2 – 3 years time, with greater scope for associated activities in the future
    2. Strong client base to be achieved
  • Shipping services could be adopted in the future
  1. High brand image to be achieved

Reference list

Accc.gov.au. 2019. Advertising and selling guide | ACCC. [online] Available at: https://www.accc.gov.au/accc-book/printer-friendly/29527 [Accessed 24 Aug. 2019].

Ager, D., Blume, L., Hites, R.A., Venier, M., Salamova, A. and Lehman, D., 2018. Quality Assurance Project Plan.

Badiru, A.B., Rusnock, C.F. and Valencia, V.V., 2018. Project management for research: a guide for graduate students. CRC Press.

Beck, E., 2018. SITE SPECIFIC PROJECT PLAN FOR: Gregg Lake Watershed Management Plan Development.

Berger, I., Ahmad, A., Bansal, A., Kapoor, T., Sipp, D. and Rasko, J.E., 2016. Global distribution of businesses marketing stem cell-based interventions. Cell stem cell, 19(2), pp.158-162.

Bruggeman, D.A., 2018. Technical Project Plan for Meteorological Monitoring (No. LA-UR-18-26157). Los Alamos National Lab.(LANL), Los Alamos, NM (United States).

Etikan, I., Alkassim, R. and Abubakar, S., 2016. Comparision of snowball sampling and sequential sampling technique. Biometrics & Biostatistics International Journal, 3(1), pp.1-2.

Haugan, G.T., 2016. The New Triple Constraints for Sustainable Projects, Programs, and Portfolios. Auerbach Publications.

Lacerda, R.T., Ensslin, L. and Ensslin, S.R., 2016. Research methods and success meaning in project management. In Designs, Methods and Practices for Research of Project Management (pp. 115-124). Routledge.

Muller, R., 2017. Project governance. Routledge.

Ruffin, M., 2018. Oral History Project Plan: A Look at the History of Developmental Disabilities in Maine.

Serinaldi, F., 2017. Interactive comment on “Comparative study of flood projections under the climate scenarios: links with sampling schemes, probability distribution models, and return level concepts” by Lingqi Li et al.

Stratton, K.L., Caterpillar Inc, 2017. System and method for executing a project plan at worksite. U.S. Patent 9,851,719.

Susanti, I., Nasir, L.A. and Sukardianti, V.P., 2017, December. Implementation of Tax Regulations on Internet-based Business Activity Case Study: Google’s Tax Avoidance In Indonesia. In 1st International Conference on Administrative Science, Policy and Governance Studies (ICAS-PGS 2017) and the 2nd International Conference on Business Administration and Policy (ICBAP 2017). Atlantis Press.

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