Fluent Essays

Page 1 of 3 BOUNCE FITNESS FIRST YEAR REPORT Bounce Fitness is a new and rising fitness centre that specialises in offering group exercise programs, personal training, and dance classes. After its first year of operation, Bounce Fitness is already making a big name for itself with its unique approach to fitness. Currently, Bounce Fitness is going head to head against some of the known fitness organisations in the market such as Anytime Fitness, Snap Fitness, and Fitness First. These fitness centres also offer similar products and services that Bounce Fitness offers. They have also established household names for fitness, unlike Bounce Fitness which only at the start of making a name for itself. But based on the different types of fitness programs that Bounce Fitness offers, they are starting to really make an impact on their competitors. The first-year report for Bounce Fitness’ products and services are as follows: Products Initial Number of Consumers Target Number for the Year Number of Consumers after the First Year of Operations A) Customisable Diet Plans 10 persons 30 persons 25 persons B) Customisable Cardio Training Program 5 persons 30 persons 30 persons C) Customisable Circuit Training Program 5 persons 30 persons 17 persons Page 2 of 3 Services Initial Number of Regular Students* Target Number of Regular Students for the Year Number of Regular Students after the First Year of Operations A) BF Vinyasa Yoga Program 25 persons 50 persons 65 persons B) BF Dancercise Program 8 persons 30 persons 31 persons C) BF H.I.I.T. Program 20 persons 50 persons 60 persons D) Personal On-Call Home Fitness Instructor Program 7 persons 20 persons 10 persons * Regular students are the clients who have signed up for at least a one month package for the class The Marketing Team reported the following information on Bounce Fitness’ marketing activities: Marketing Activity Number Customers that learned about Bounce Fitness through that Marketing Activity Brochures/Pamphlets 26 persons Website/Online Advertisement 35 persons Word of Mouth 20 persons Fitness Conventions 7 persons TV Commercials 30 persons Radio Commercials 5 persons NOTE: These are based on the feedback given by existing and recurring customers of Bounce Fitness. This is also based on the first year of operation of Bounce Fitness, January 23, 20XX – January 23, 20XY. Page 3 of 3 To improve on Bounce Fitness’ performance, the marketing team has suggested reviewing the market. The team has looked into the organisation’s current developments, market trends, annual reports, improvements, etc. The team has suggested that you visit the following links from Fitness Australia for more information about how to improve upon Bounce Fitness’ products and services: • <https://fitness.org.au/articles/category/reports/37/19> • <https://fitness.org.Business College at International House RTO Code: 91109 CRICOS 02623G Level 1, 203 Clarence St, Sydney NSW 2000 | Floor 1, 237 Oxford St, Bondi Junction NSW 2022 3 Searcy St, Darwin NT 0800 | Level 6, 601 Bourke St, Melbourne VIC 3000 [email protected]| www.ihBC.edu.au Business College at International House RTO Code: 91109 CRICOS 02623G Level 1, 203 Clarence St, Sydney NSW 2000 | Floor 1, 237 Oxford St, Bondi Junction NSW 2022 3 Searcy St, Darwin NT 0800 | Level 6, 601 Bourke St, Melbourne VIC 3000 [email protected]| www.ihBC.edu.auBSB50215 Diploma of Business BSB52415 Diploma of Marketing and Communication NAT10118 Diploma of Social Media Marketing BSBMKG507 Interpret market trends and development Task 2 – Written Report Candidate Instructions Purpose of this Assessment task This assessment task is designed to test your skills in interpreting market trends and development as required by the unit BSBMKG507 Interpret market trends and development. Your trainer/assessor will be assessing your work and provide you with constructive feedback on Canvas. This task will assess your skills to: · Interpret trends and market developments · Analyse qualitative results · Report on market data. In this assessment you will analyse the provided case study, undertake research in the topics presented, create, and interpret market trends and development. By successfully completing this project you will provide the required performance evidence of your competence in interpreting market trends and development. What are you required to do to undertake this Case Study? You should carefully read the provided Case Study; its appendices; and additional resources available on Canvas and undertake all questions. The task includes: (i) Analysing the case (ii) Undertaking required research (iii) and Reporting. No Role Play or Presentation is required for this assessment task. To successfully undertake this assessment, you should be doing the following: · Read the provided Case Study couple of times and understand its requirements · Clarify the requirements with your trainer and assessor, if you are not sure · Research appropriate websites as directed by your trainer/assessor · Discuss with your trainer/assessor the contents of the report if needed. Context and conditions of undertaking the tasks? The prescribed tasks will be undertaken by you after carefully analysing the case scenarios. Your trainer will also provide you guidance on the websites to be researched. Your trainer/assessor may also set certain conditions under which you will perform the tasks required by this assessment. For example, your trainer may set a time limit to perform a task or, ask you to repeat a task or, ask you to give additional information about the performance by asking you some verbal questions or, they may prescribe you some new conditions to undertake certain tasks. Given your personal conditions, your trainer/assessor should also be able to make some reasonable adjustments in undertaking the tasks of this assessment. You should check with your trainer/assessor about the conditions under which the tasks should be completed, and the possible adjustment they can make in undertaking these tasks. What specific WHS requirements may be involved? This assessment will require you to be aware of the standard Workplace Health and Safety requirements e.g. Workplace Health and Safety Act and Workplace Health and Safety Legislation Your trainer/assessor will advise you on SUBHEADING TITLE Main body of text – 16 point – Century GothicBSB50215 Diploma of Business BSB52415 Diploma of Marketing and Communication NAT10118 Diploma of Social Media Marketing BSBMKG507 Interpret market trends and development Task 1 Questioning Assessment Candidate Instructions You will complete questions for purposes of formal assessment as per the questions outlined in the questioning record below, and any additional probing or clarification questions required by the assessor. The Knowledge Activity is designed to confirm your competency for all the required knowledge in the unit of competency. Task Details There is no restriction on the length of the question responses, or time restriction in completing the assessment. It is anticipated however that the assessment will take approximately 2 hours to complete, and word limit is unit as a guide only. The assessment may be re-attempted on two further occasions (maximum three attempts in total). All assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly indicate “Re-submission” on your resubmitted work. You must complete all questions unassisted by the assessor or other personnel but may refer to reference material as may be needed. All questions must be answered satisfactorily for the assessment to be completed satisfactorily. For any assessment conducted that is incomplete, or without satisfactory performance, the assessment will need to be completed again after further training support. This may be simply to focus on question areas not achieved in the prior assessment. Evidence to be collected Answer the activity in as much detail as possible, considering your organisational requirements. In undertaking this assessment task, you as the candidate are providing consent for your work to be reviewed for the purposes of formal assessment in the unit(s) of competency. If you have concern regarding this permission, please discuss this with your assessor prior to undertaking the task. Objective To provide you with an opportunity to show you have the required knowledge for this unit. Candidate Declaration Candidate name: Trainer’s name: Date: Assessment declaration: I declare that no part of this assessment has been copied from another person’s work, except where clearly noted on documents or work submitted. I declare that no part of this assessment has been written for me by another person. I understand that plagiarism is a serious offence that may lead to disciplinary action. Candidate signature: Your trainer and assessor will be grading your work and provide you with constructive feedback on Canvas. Task 1: Knowledge Questions Question 1 For each of the following items, identify two (2) internal sources within the organization, and two (2) external sources outside the organization, of information relevant to forecasting market trends: Internal Sources of Informati1 BSBMKG507 Interpret market trends and developments Learner Guide 2 Table of Contents Unit of Competency ................................................................................................................... 3 Application ......................................................................................................................... 3 Performance Criteria.......................................................................................................... 4 Foundation Skills ................................................................................................................ 5 I n t r o d u c t i o n ........................................................................................................................... 6 Interpret Trends and Market D e ve l op m e nt s ............................................................... 9 Notes ....................................................................................................................................... 45 Key P o i n t s E l e m e n t 1 ........................................................................................................ 46 P e r f o r m a n c e C r i t e r i a E l e m e n t 2 .................................................................................... 48 Analyse Qualitative Results ............................................................................................ 48 Activity Two .............................................................................................................................. 62 Key P o i n t s E l e m e n t 2 ........................................................................................................ 62 P e r f o r m a n c e C r i t e r i a E l e m e n t 3 .................................................................................... 65 Report on Market D a t a ............................................................................................. 66 Notes ........................................................................................................................................ 84 .................................................................................................................................................. 84 Activity Three ........................................................................................................................... 85 Key P o i n t s E l e m e n t 3 ....................................................................................................... 86 Required Knowledge ....................................................................................................... 90 3 Unit of Competency Application This unit describes the skills and knowledge required to conduct an analysis of market data in order to determine organisational and competitor business performance and to pre