BSBMKG624 Project Portfolio

BSBMKG624 Manage Market Research
Project Portfolio
Student First Name
Student Last Name
Student Number
Date Submitted
Business this assessment

is based on
Project Portfolio
Project Portfolio
© 2022 RTO Works – Edited 2022 Ruby Institute 20220311

Project Portfolio
Content
Section 1: Develop a Market Research Plan 4

Section 2: Obtain resources and engage an external contractor or service provider 11
Section 3: Monitor and evaluate market research 15
ntent
Section 1: Develop a Market Research Plan

Project Portfolio
Complete the table to summarise market research requirements for your business.
Legislation and regulations Legislation:

Summarise the requirements of at
least two relevant legislation and regu-
lations related to market research.
Regulations:
Codes of Practice Code:

Outline the purpose, aims and three
behaviours of at least one Code of
Purpose:
Practice related to market research
Aims:
Three expected behaviours:
National standard
Identify at least one national standard
that applies to the market research.
Policies and procedures
How did you access the original Market
Research Policy and Procedure?
Summarise the changes you made to

the original Market Research Policy
and Procedure.
What new approach to market research
did you include?
How does the new approach enhance
the work practices and outcomes of the
market research?
If you are using your own business, at-
tach the original policy and procedure
to your Portfolio.
Attach your revised policy and proce-
dure (with changes highlighted) to your
Portfolio.
Implement policy and procedure

If you are using your own business, ex-
plain how you implemented the revised
Marketing Policy and Procedure ac-
cording to your organisation’s require-
ments (attach evidence of how you did
this to your portfolio).
If you are using the case study, use the
space provided to draft an email to the
Marketing Officer to distribute the pol-
icy and request that they adhere to it.
Develop your business’s Market Research Plan. You may use the template below, or any other template appli-
cable to your chosen workplace. If you use your own template, attach your work to this section of your Project
Portfolio.
Ruby Institute Pty Ltd trading as Ruby Institute | ABN 13 612 126 986 | RTO 45148 | CRICOS 03723G
Lvl 7, 250 Collins Street, Melbourne VIC 3000, Australia | Tel: +61 3 9069 2172 | Email: studentservices@ruby.vic.edu.au
BSBMKG624 Project Portfolio | © 2021 RTO Works | Ed 2022 Ruby | 20220311 | Page 7 of 21
Market Research Plan for: [Business Name]
Date:
Purpose:
Detail the purpose of the research.
Market Research objectives:

List your key market research objectives.
Market Research Methods

List market research information/methods to be employed based on your research of the most appropriate
market research methods.
Budget and timeframe of research:

What is the budget and timeframe for the market research?
Market Research Timeframe Requirement Budget Team or person respon-

activities or actions sible
When should it What is required to get it How much
What should be be done? done? can I spend? Who is responsible?
done?
Complete the table to summarise your discussion of the Market Research Plan.
Arrange meeting
Insert a screenshot (or other evi-
dence such as a photo or draft
email) to show how you arranged
the meeting with a relevant stake-
holder to obtain feedback and ap-
proval of the plan.
Meeting summary
Who did you meet with?
Provide an example of clear, con-
cise business language you used at
the meeting.
Provide an example of relevant in-
dustry and marketing terminology
you used at the meeting.
Provide an example of non-verbal
language you used to support your
communication at the meeting.
Provide an example of how you
used active listening and question-
ing at the meeting.
What feedback did you receive for
changes required to the plan?
If the meeting has not been viewed
in person by the assessor, attach
proof to this section of the portfolio.
Finalise your business’s Market Research Plan (highlight the changes). You may use the template below, or
any other template applicable to your chosen workplace. If you use your own template, attach your work to this
section of your Project Portfolio.
Finalised Market Research Plan for: [Business Name]

Date:
Purpose:
Detail the purpose of the research.
Market Research objectives:

List your key market research objectives.
Market Research Methods

List market research information/methods to be employed based on your research of the most appropriate
market research methods.
Budget and timeframe of research:

What is the budget and timeframe for the market research?
Market Research Timeframe Requirement Budget Team or person respon-

activities or actions sible
What should be be done? done? can I spend? Who is responsible?
done?
Attach: Original Market Research policy and Procedure (if using your own
☐
business)
Revised Marketing Policy and Procedure ☐
Proof of how you implemented the revised policy and procedures (if
☐
using your own business)
Market Research Plan (if using your own template) ☐
Stakeholder meeting (if not already viewed in person by the asses-

☐
sor)
Finalised Market Research Plan (if using your own template) ☐
Section 2: Obtain resources and engage an external contractor or service provider
Complete the table to provide evidence of how you obtained resources and contracted an external contractor
or service provider:
Identify internal resources

Which internal resources are re-
quired to implement your Market
Research Plan (at least one)?
Identify external contractor or

service provider requirements
What service or product (that forms
part of the Market Research plan)
should be provided by an external
contractor or service provider (at
least one)?
Using the Internet, conduct re-
search and identify at least three
appropriate and suitable companies
who could offer the services or
products required.
Obtain internal resources

If you are using your own business,
explain which resource you ob-
tained and how you obtained it (at-
tached proof that you have done so
such as a photo or email).
If you are using the case study, use
the space provided to draft an email
to the Marketing Officer to explain
what they need to do.
Develop a Project Brief for the service or product required to be supplied by an external contractor or service
provider. You may use the template below, or any other template applicable to your chosen workplace. If you
use your own template, attach your work to this section of your Project Portfolio.
Project Brief for: [Project name]

Date:
Overview of company:
Provide a brief overview of the company.
Product or service required:

Provide an outline of the required market research related product or service.
Specifications
What is the budget?
By when is the product or service required to be completed?
Selection criteria
List the criteria you will use to select the successful bidder.
Submission details
Submit quote by: [Add date]
Submit quote to: [Add contact details for submission]
Complete the table to provide evidence of how you selected and contracted the external contractor or service
provider:
Seek quotes
Use this space to draft your email to
share the Project Brief with potential
contractors/service providers.
Select an external contractor or

service provider
Who did you receive quotes from
(name at least three)?
attach the quotes to your portfolio as
evidence.
Who is the successful contractor or
service provider?
Why did you select them?
Contract the successful external

contractor or service provider
Use the space provided to draft an
email to the successful service
provider or contractor to inform them
in writing that they have been se-
lected to complete the work.
Attach: Proof that you have obtained one internal resource (if using your ☐
own business)
Project Brief (if using your own template) ☐
Quotes obtained from external contractor/service provider (if using

☐
your own business)
Section 3: Monitor and evaluate market research
Assume that time has passed and market research activities have commenced, but have not yet been com-
pleted. Complete the table to monitor the market research.
Request progress update from ex-

ternal contractor or service provider
Draft your email to the external con-
tractor/service provider in the space
provided.
attach the contractor or service
provider’s response as evidence to
your Project Portfolio.
Request progress update from inter-

nal staff
Draft your email to the internal staff
in the space provided.
attach the staff member’s response
as evidence to your Project Portfo-
lio.
Update the Action plan/Work Plan (part of your Market Research Plan) to accommodate the progress reports
from the internal staff and external contractor/service provider. Highlight the changes you made.
Market Research Timeframe Requirement Budget Team or person re-

activities or ac- sponsible
tions
be done? done? can I spend? Who is responsible?
What should be
done?
Share updated Action Plan with all
relevant stakeholders
Draft your email to the external con-
tractor/service provider in the space
provided.
attach the contractor or service
provider’s response as evidence to
Assume that more time has passed and that the Market Research project is now completed.
Obtain research findings and feed-

back form relevant stakeholders
Draft your email to the relevant
stakeholders in the space provided.
attach the response as evidence to
Develop a report for to evaluate the market research findings and processes. You may use the template be-
low, or any other template applicable to your chosen workplace. If you use your own template, attach your
work to this section of your Project Portfolio.
Evaluation Report for: [Project name]

Date:
Research findings
Summarise the research findings. Use numerical measures and analysis to represent the findings (such as
using graphical representation or calculations).
Validity and reliability of the data:
How is the data valid? How is the data reliable?
Include sample size, demographics and location in your answer.
Research methods
Were the research methods adequate and suitable? Explain.
Relevancy of research
To what extent has the research provided relevant and useful information against the research objectives?
Project performance
Discuss the project performance including budget, timeline and processes.
Recommendations
How would you improve the market research process for future projects?
Present report
How did you present the report?
To who did you present the report?
If not already viewed in person by
the assessor, attach proof of how
you presented the report (such as a
video or PowerPoint presentation
an email).
Attach: Progress report from service provider or contractor (if you are us-
☐
ing your own business)
Progress report from internal staff (if you are using your own busi-
☐
ness)
Market research findings and feedback (if you are using your own
☐
business)
Evaluation report (if using own template) ☐
Proof of report presentation (if not already viewed in person by the

☐
assessor)

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BSBMKG624 Manage Market Research

Student First Name

Student Last Name

Business this assessment

© 2022 RTO Works – Edited 2022 Ruby Institute 20220311

Section 1: Develop a Market Research Plan 4

Section 1: Develop a Market Research Plan

Legislation and regulations Legislation:

Codes of Practice Code:

Three expected behaviours:

Summarise the changes you made to

Implement policy and procedure

Market Research objectives:

Market Research Methods

Budget and timeframe of research:

Market Research Timeframe Requirement Budget Team or person respon-

Finalised Market Research Plan for: [Business Name]

Market Research objectives:

Market Research Methods

Budget and timeframe of research:

Market Research Timeframe Requirement Budget Team or person respon-

Revised Marketing Policy and Procedure ☐

Market Research Plan (if using your own template) ☐

Stakeholder meeting (if not already viewed in person by the asses-

Finalised Market Research Plan (if using your own template) ☐

Identify internal resources

Identify external contractor or

Obtain internal resources

Project Brief for: [Project name]

Product or service required:

Select an external contractor or

Contract the successful external

Quotes obtained from external contractor/service provider (if using

Request progress update from ex-

Request progress update from inter-

Market Research Timeframe Requirement Budget Team or person re-

Obtain research findings and feed-

Evaluation Report for: [Project name]

Evaluation report (if using own template) ☐

Proof of report presentation (if not already viewed in person by the

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