BSBMKG512 Forecast international market and business needs

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Task 1 Knowledge Questions

Assessment Instructions

Answer the questions below.

1. Define the term Market Intelligence

creates a complete picture of the company's existence in the market, customers, problems, competition, and potential
growth for new products and services

2. Define the term Market Analysis

iThe set of actions that is executed to know the response of the market to a product or service.Analysis of prices and
evolution of the different competitors or geographical demarcations.

3. What does the scope of a market analysis include?

It includes the opportunities of the market (market size new trends are examples of it)

4. Define the term Market Research

Is the tool that we use to take information about what are the potential necessties of the customers and their needs, as
well as what your competitors are doing.

5. What is competitive analysis? What are the benefits of doing this in your business?

it is a process that consists of relating the company with its environment. Competitive analysis helps identify the
strengths and weaknesses of the company, as well as the opportunities and threats that affect it within its target
market.

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6. In your own words, explain the concept of Porter’s five forces model

This model establishes a framework to analyze the level of competition within an industry, and can develop a business
strategy. This analysis is derived in the respective articulation of the 5 forces that determine the intensity of competition
and rivalry in an industry, and therefore, how attractive is this industry in relation to investment opportunities and
profitability.

7. What is a SWOT analysis? What are the favourable and unfavourable elements of a SWOT analysis?

Identify the strengths, weaknesses, opportunities and threats related to a particular situation, context, program or
campaign.

Favourable
- it serves as a source for the formation and establishment of new strategies, for the restructuring of departments if
necessary.
- offers new market visions for the company, all through the exaltation of opportunities and their strengths;
Unfavourable
- Its expensive
-8.
SomeWhat does
times youthe term
do not Best
have Practice
enough mean?to do it correctly so The results won't be specifics
resources
A best practice is a technique or methodology that, through experience and research, is
believed to be the most effective to achieve the best results

9. What does the term Symbols refers to?

Is something that represente, suggested or replace something. Ex: A white bird is the symbol of peace

10. Explain how a PEST Analysis is used. What does each letter of the acronym stand for?
It is an instrument that facilitates research and helps companies to define their environment, analyzing a series of
factors whose initials are those that give the name. It is about the Political, Economic, Social and Technological factors

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 11. What legal, ethical and environmental constraints may impact an organisation when forecasting
international market and business activities?

Laws made by governaments that can affect how the comoany advertised a product or the taxes that the product must
pay for coming for another country.

12. What are some trends and developments that may impact on international business activity and
their potential impact on the business?
Technology: These tools open the business to the world and should not be underestimated as powerful business tools.
Technology also helps companies improve their communication with employees.
Culture: the culture is so powerful that it influences the way people perceive, visualize and act in the world and therefore
in how they do business
Politic: is the possibility that future and uncertain events, originating in the political situation or the adoption of certain
policies by the host State of the investment, modify the conditions in which a business has been established, and
therefore change their perspectives on profits and future activities

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Task 2 Report: Review Live Export of Cattle Industry in Australia

Assessment Instructions

As a group of no more than four (4) you are required to write a business report on the Live export of cattle
industry in Australia
You have been provided with resources to assist you in the compilation of this report and you will be
requried to undertake further research to complete the required report.
You are required to use the following heading/sections when formatting your business
report:
Title page

Contents page
Introduction – [the purpose for writing the report] pg#
Main points of interest to be discussed: ?
Section 1. Collect market intelligence ?
Section 2. Review current business performance and evaluate ?
marketing opportunities in international markets
Section 3. Forecast international market and business needs ?
Conclusions and Recommendations ?
Appendix ?
Bibliography ?
Using the questions below, complete your research and then write your report in a
separate document. Be sure to follow the required Business Report format.

Section 1. Collect market intelligence

a. Identify the target market/s the industry operates in.

b. Identify sources of market intelligence relevant to the export of live cattle.

For example:
a. External information on international markets
b. Networking opportunities – research two (2) relevant networking opportunities; and
can you discuss why they are relevant
c. Official statistics
d. Trade fairs, conferences and/or professional development activities

c. Collate and analyse current markets with information on the following points
a. Market growth rate
b. Market profitability
c. Distribution channels
d. Market trends
e. Key success factors

d. Evaluate the current performance of the industry

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 Section 2. Review of current business performance and evaluation of marketing
opportunities in international markets.

a. Identify and analyse the trends and developments that impact on the industry. Ensure
your answer covers the following trends:
 changes in technology
 demographic trends
 ecological/environmental trends
 economic trends (local, regional, national or international)
 government activities (interest rates, deregulation, etc)
 industrial trends
 political events (wars, internal conflicts, elections etc)
 social and cultural factors

b. Analyse the international market. Ensure your answer covers the following focus your
analysis on identifying opportunities and threats to the futuyre of the industry (Choose any
3 factors from the list below and discuss)
 trademarks, patents and standards accreditation
 cooperative ventures
 changes to competitor business operations
 franchising
 joint ventures
 new products or services
 potential for greater market penetration of existing products or services
 strategic alliances

c. Identify and analyse the legal, ethical and environmental constraints on international business activity?
[To answer this question can you discuss how each of the following identified factors can effect
international business activity]
1. legal and ethical obligations nationally and internationally
2. cultural expectations and influences
3. ethical influences
4. social responsibility

Section 3: Forecast international market and business needs

Recommend three forecasting techniques and their relevance, from the following options:
 bottom-up forecasting
 Delphi techniques
 model building
 projection
 scenario planning
 surveys of intentions
 top-down forecasting

and use the outcomes of these to forecast the future performance of the industry

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Conclusion

Provide a conclusion, based on your research, as to your opinion of the future of the Australian live cattle
export industry and recommend what changes need to be made for the industry to prosper and grow.

Appendix documents
(List and include)

Bibliography
(Referencing: (remember if you copy and paste chunks of information you must reference it where it
appears or the plagiarism rules apply – see ILSC Academic Integrity Policy – available on Moodle and in the
VET Student Handbook).

Please note: ILSC can use third party software to detect plagiarism.

Upload your report with this completed assessment on Moodle.

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