Upon successful completion of this unit, you will:
- apply statistical and qualitative analysis techniques to identify:
- current business performance
- competitor performance
- potential threats and opportunities
- apply qualitative and forecasting techniques to identify:
- success of marketing activities
- over and under-performing products and services
- existing and emerging market needs
- document the analysis of market data including visual presentation of findings
Demonstrate knowledge of:
- internal and external sources of information relevant to forecasting market trends including:
- business and strategic objectives
- marketing and other business performance
- comparative market information
- changes in technology
- demographic changes
- social and cultural factors
- economic trends
- government activities and legislative changes
- industry trends
- supplier data
- the legislative and regulatory context as it applies to marketing
- software applications that are commonly used in quantitative and qualitative analysis and outline their key features
- statistical concepts, methods, techniques and reporting formats commonly used in marketing including:
- conversion rate of leads to sales
- measures of central tendency
- measures of dispersion
- nature and degree of relationship between variables
- net response rate
- normal distribution probability curve
- sampling
- speed of response curve
- recency or frequency grids
- lifetime value of customers
- net present value of customers
