Académique Documents
Professionnel Documents
Culture Documents
BSBMKG507
ASSESSMENT 1 - Interpret Market Trends
and Developments
Among the key features, we can mention The Hero Principle + the 6 basic Principles, to
know:
1. Hero Principle - Consumer first through empowerment and protection
The Hero Principle of the Code captures the essence of all relevant consumer-
related regulatory provisions – it puts the consumer first. The Code Principles can
be seen as benchmarks, with each of the attendant rules providing a roadmap on
how to get there. The Code requires Members to comply with all regulatory
provisions relevant to data driven marketing and advertising. To the extent that there
is any conflict between those regulatory provisions and the Code the regulatory
provisions will prevail. The Code also encourages Members to go beyond what is
mandated by regulatory provisions; that is to go beyond compliance, for example, in
empowering consumers and providing choice.
Outcomes:
Ultimately, the Code promotes three key outcomes:
a) confidence and compliance (consumer focused);
b) commercial growth;
c) and corporate sustainability (business facing).
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
These outcomes establish the ultimate WIN-WIN for consumers and business. This
in turn is the core driver of Code compliance.
The approach of establishing, broad, overarching principles also serves to future-
proof the Code. The principles of responsibility, choice, fairness, transparency,
honesty and safety have broad application, the detail as to how these principles are
evidenced in marketing and advertising practices will be captured in relevant Code
Guidelines where required.
Rules:
Members must:
a) Comply with all relevant regulatory provisions relating to the collection and use
of data.
b) Consider the appropriateness of communications to consumers taking into
account the target audience, the purpose of the communication and the delivery
method of the communication.
c) Take reasonable steps to ensure that they have appropriate technical and
organisational measures so that Personal Information is not collected or used
unlawfully or without consent and is protected from unwarranted access,
accidental loss, destruction or damage.
d) Only use Sensitive Information for marketing purposes with the consent of the
consumer concerned.
e) Where relevant, ensure all staff, agents, partners, suppliers, contractors and any
other third parties (Agents) are aware of the Code and the Member’s obligation
to act in accordance with the Code and take reasonable steps to ensure that
when Agents are acting on the Member’s behalf that they in turn take reasonable
steps to comply with the Code.
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
6. Principle 5 - Be honest
Outcomes:
a) Companies must be honest and not mislead consumers, whether through
omission, exaggeration or other means
b) Companies deliver what they promise Companies have the resources and
systems in place to carry out commitments
Rules:
Members must:
a) Act decently, fairly and reasonably, fulfilling their legal and contractual obligations
at all times.
b) Not knowingly or intentionally exploit the credulity, lack of knowledge or
inexperience of any consumer – and take particular care when dealing with
children and other vulnerable consumers.
c) Not make any false claims or engage in misleading or deceptive conduct by
statement, illustration or omission.
d) Not misrepresent the nature of their communication as carrying out research or
a survey when the real purpose of the contact is to advertise, promote or sell
goods or services, or to solicit donations.
e) Ensure that they do nothing, knowingly or intentionally that could bring into
disrepute the public image of data-driven marketing, or ADMA
7. Principle 6 - Value safety
Outcomes
a) Companies take reasonable steps to ensure the safety and security of Personal
Information
Rules:
Members must reasonable steps to ensure that:
a) Personal Information is held safely and securely.
b) If they transfer Personal Information outside of Australia, there are adequate
levels of protection for the rights of the consumer.
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
Task 2:
TASK 2
Mean: The "mean" is the "average" you're used to, where you add up all the numbers and
then divide by the number of numbers. In the exercise above, the mean is $1880.-
Standard Deviation: In statistics, the standard deviation (SD, also represented by the
Greek letter sigma σ or the Latin letter s) is a measure that is used to quantify the amount
of variation or dispersion of a set of data values. In the exercise above, the Standard
Deviation is 754,88
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
Task 3:
3.1) Among the High End Widgets Market Share, the Mean for 2008 was 26.7%, whereas
for 2009, increases its’ level to 29.2%. This is:
A Similar increase it’s shown by the Median, going from 25.3% in 2008, to 28.1% in 2009,
for the period between September and November. Breaking down:
3.2. a) XYZ Widget Co.’s market share its’ remind stable for September, while incrementing
its’ size 0,056% during October, and 0,009% during November. In dollar sales, the company
has increased share from 18.32% to 20.29% for the same period. The total market sales for
each period and the total value of the high widgets sales, were used to determine the total
share for 2008 and 2009, to determine the growth.
b) After the television promotion, as shown below, you can identify a slight increase
in boths, sales and market share as well in the low end and mid-level widget markets.
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
BSBMKG507 Interpret Market Trends and Developments Camila Chamorro
c) Low end widgets: sales increased towards the end of the year, resultin in a larger
market share.
Mid-Level Widgets: Tey grew at a rate close to 6% per month during the analysed
period in 2009.
High End Widgets: grew 14.5% between Sep-Nov 2009, and 25% for the same
period in the previous year, inferring a very small increase.
However, having seen a growth in most of the analysed categories, in the future it’s
recommended to continue doing television promotions periodically, while accompanying this
with a big branding campaign, and checking for any negative factor that can influence sales.
This will reinforce the image of the company and will result in an increase in sales.
d)