ASSESSMENT AS V2 (2.4)

Transcription

1 THE LION FOUNDATION YOUNG ENTERPRISE SCHEME ASSESSMENT AS V2 (2.4) CONDUCT MARKET RESEARCH FOR A NEW OR EXISTING PRODUCT 3 Credits, Level 2 Version 2 STUDENT NAME: TEACHER: OVERALL RESULT: N/A A M E SIGNATURE: DATE:

2 ACHIEVEMENT STANDARD Subject Reference Business Studies 2.4 Title Conduct market research for a new or existing product Level 2 Credits 3 Assessment Internal Subfield Domain Business Operations and Development Business Studies Status Registered Status date 30 November 2010 Planned review date 31 December 2018 Date version published 20 November 2014 This achievement standard involves conducting market research for a new or existing product. ACHIEVEMENT CRITERIA Achievement Achievement with Merit Achievement with Excellence Conduct market research for a new or existing product. Conduct in-depth market research for a new or existing product. Conduct comprehensive market research for a new or existing product. Young Enterprise Trust 2015 All rights reserved. No part of this resource may be reprinted or reproduced or utilized in any form or by electronic, mechanical, or other means (including photocopying and recording, or in any information storage or retrieval system), without permission in writing from the Young Enterprise Trust unless such is undertaken by the school to which this resource has been issued for the purpose of delivering enterprise or financial literacy education. Disclaimer: The Young Enterprise Trust cannot be responsible for any liability whatsoever (whether arising in contract, tort (including negligence), equity or breach of statutory duty) arising directly or indirectly from any classroom enterprise or any other activity forming part of the Young Enterprise Trust s programmes and resources. Doc ID: YES [ 2 ]

3 EXPLANATORY NOTES 1 This achievement standard is related to the Teaching and Learning Guides for Business Studies, Ministry of Education, at seniorsecondary.tki.org.nz/; The New Zealand Curriculum, Learning Media, Ministry of Education, 2007; and Te Marautanga o Aotearoa, Ministry of Education, Assessment will involve a selection from the business content and concepts related to Business Studies Level 7 Learning Objective One and/or Learning Objective Two in the Teaching and Learning Guides for Business Studies. To conduct market research would typically involve: identifying the aim of the research planning and designing the research collecting and recording sufficient primary data relevant to the aim of the research presenting the data using a range of appropriate methods drawing a conclusion from the research stating business knowledge relevant to the conclusion stating a Māori business concept(s) where relevant to the conclusion stating the strengths and/or weaknesses of the research. 4 To conduct comprehensive market research would typically involve: integrating business knowledge relevant to the research to support the conclusion. integrating a Māori business concept(s) where relevant to support the conclusion. discussing ways to improve the market research process. 5 Explanation of terms: Market research means collecting information such as consumers past actions, current needs and wants and future intentions with regard to a good or service. New product means a good or service that has been conceptualised by the candidate. Existing product means a good or service already on the market. Planning the research means each candidate will collect some secondary data to help plan their primary data collection. Sufficient primary data must be collected from the field and be of adequate quantity and quality to ensure the validity of the research. It may be collected individually or by a group. Appropriate methods for presenting the data means graphs, tables or reports relevant to the research. 3 To conduct in-depth market research would typically involve: Including business knowledge relevant to the research to support the conclusion. 6 Conditions of Assessment related to this achievement standard can be found at www. tki.org.nz/e/community/ncea/conditionsassessment.php. including a Māori business concept(s) where relevant to support the conclusion. providing reasoned explanations of the strengths and/or weaknesses of the research and how this impacts on the validity of the findings/conclusions. [ 3 ]

4 [CONDUCT MARKET RESEARCH FOR A NEW OR EXISTING PRODUCT] Introduction and instructions Adapted from TKI assessment (busstud2_4_v2_dec12) for Young Enterprise Scheme This assessment activity requires you to design, conduct, and present the findings of your market research for your YES product/service or brand. There are four tasks for this assessment. You will: decide whether you are going to research your product/service or brand You will be assessed on: determine an appropriate research aim your use of secondary data to plan and design research that meets your research aim plan and design market research based on your secondary research findings to achieve this aim the quality, relevance, and quantity of primary data you collect collect and record sufficient primary data relevant to your aim your use of a range of appropriate methods to present your data present this data using a range of appropriate methods the depth and comprehensiveness of the discussion in your individual report or presentation evaluate and draw conclusions from the research incorporating business knowledge You may plan and conduct market research as a group (or individually), but you will evaluate and draw conclusions from the research individually and present your findings individually. At the conclusion of this activity, you will submit the primary data you collected. Choose a presentation format that best meets your needs. For example, you might produce a written report or video presentation or deliver an oral presentation. Ensure you have supporting documentation if you choose a video or oral presentation. [4]

5 [ Task 1 ] Plan and design research INSTRUCTIONS This is a group activity. Decide whether you are going to do your research on your product/service, or your brand. Identify the aim of the market research. For example, you might want to investigate the market for your product or service, identify your target market, or discover what consumers think about your planned advertising campaign. Check with your teacher that your aim is valid for your company before carrying on. Collect secondary data about your product and its potential competitors and market. You might use relevant websites, industry journals, government statistics or information from your local council, for example. You can also collect secondary data from your mentor or network contacts you have made. Design appropriate research methods, such as questionnaires or surveys. Confirm with your teacher that your research plan and the research methods you have designed will enable you to conduct valid research. As you work, make notes of your research process that you can then use for your final report. Make notes on why you are conducting the research. Explain your reasons for selecting the data type, and the research and sampling methods you chose. Also include the secondary data you based your research on. Make a list of your sources of information. Using this secondary data and your understanding of market research concepts, decide: whether you will collect quantitative or qualitative data, or both what primary methods of research you will use (observations, questionnaires, focus groups, testing, interviews, or surveys, for example) the sampling method you will use (random, stratified, quota, or cluster, for example). [ 5 ]