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Task2 Knowledge Test 1. What is a “Market Profile?” A Market Profile is not a technical indicator but an image that shows where the most traded price is and what the volumes are at each price level. It determines when the market will move from equilibrium to imbalance. looking to analyse the development of the daytime portion of market value. Market profile is recognised as a bell shape, larger at the middle prices with sparser activity at the higher and lower prices.

2. Briefly describe the following segmentation factors; Geography investigate the character of places, the distribution of phenomena across space, biophysical processes and features, and dynamic relationships between humans and environments. Geography answers questions spanning the local to the global, in the past, present and future. Demographics is the study of a population based on factors such as age, race, and sex. Demographic data refers to socio-economic information expressed statistically, also including employment, education, income, marriage rates, birth and death rates and more factors. Psychographics is the study of consumers based on their activities, interests, and opinions. It goes beyond classifying people based on general demographic data, such as age, gender, or race. Psychographics seeks to understand the cognitive factors that drive consumer behaviours. This includes emotional responses and motivations; moral, ethical, and political values; and inherent attitudes, biases, and prejudices. 3. What is “Consumer Behaviour”? How can marketers predict consumer behaviour? Consumer behaviour is Consumer buying behaviour refers to the buying behaviour of final consumers, those individuals and households who buy goods and services for personal consumption. Market research can help reveal customer intentions but penetrating the veil that protects actual motivations from close scrutiny can be a tall order for even the best research project. With the advent of big data, marketers are accessing increasingly more sophisticated predictive and analytic tools to forecast consumer behaviour.

4. List and briefly describe three key marketing communication concepts. How does marketing communication impact on the marketing activities? Research: Prior to the development and execution of marketing messages, companies usually do research on the target market to learn more about their primary needs, interests and motivations. Focus groups, surveys, test studies and recognition studies are among common research tools used to get more familiar with targeted market segments.

Promotions: Promotions is the common term used to describe the communication component of marketing. Marketing is an entire process of research and design of a product or service, development of promotional messages and sales and service to customers. Advertising: Advertising is the paid part of a marketing communication strategy that includes paid broadcast, print or other media messages. Television, radio, newspapers, magazines and online media constitute the common, traditional media used by advertisers to present messages. Billboards, directories, aerial and transit media are support media used in advertising. 5. List some of the legal and ethical obligations relevant to marketing activities. Briefly describe the concept/relevance of the following in your own words; Advertising: You need to make sure you do not mislead your customers when you advertise your products or services. There may be local requirements such as permits, depending on the type of advertising you use. Direct marketing: Most direct marketing activities are regulated by federal or state laws. Before you conduct direct marketing, check that you comply with the privacy legislation and spam regulations. Privacy: As a business owner, you are responsible for protecting your customers’ personal information. Take care when you collect, use, secure and disclose a customer's information that you comply with the Privacy Act 1988. Anti-discrimination legislation and the principles of equal opportunity, equity, and diversity: The Australian Federal Government has passed numerous laws which aim to protect people from discrimination within the workplace. Privacy laws: refers to the laws that deal with the regulation, storing, and using of personally identifiable information, personal healthcare information, and financial information of individuals, which can be collected by governments, public or private organisations, or other individuals. Australian direct Marketing Association (ADMA) Direct Marketing Code of Practice: Marketing codes of practice, as defined by the ADMA (Association for data-driven marketing & advertising), are a set of standards of conduct for marketers to minimise the risk of breaking legislation laws and to promote a culture of best practice. The codes of practice are based on common sense, and deal with fairness and honesty....