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Elements and Performance Criteria

1. Research and determine viability of entering new markets
   • Identify and evaluate sources of assistance for locating and establishing new markets
   • Analyse characteristics of potential markets
   • Review enterprise products and service range in in terms of potential market and customer requirements
   • Assess competitive position of enterprise product and prepare sales projections
   • Determine licensing and other regulatory requirements
   • Evaluate costs, benefits and risks of entering new markets
2. Develop a market entry strategy
   • Develop resourcing strategies for new market entry
   • Identify risk management strategies
   • Develop marketing strategies in association with relevant internal and external personnel
   • Plan distribution strategies to ensure profile of product in the new market
3. Identify contract and service requirements
   • Establish enterprise terms of payment and administrative requirements
   • Identify documentary and commercial requirements of new markets
   • Identify finance and insurance requirements
   • Identify contractual requirements relating to transport and distribution to ensure product quality and safety
4. Develop evaluation strategy for new market entry
   • Identify targets and determine performance indicator requirements
   • Prepare strategies for collecting and analysing performance data
   • Identify strategies for reporting outcomes, including future planning recommendations
5. Research and determine viability of entering new markets
   • Identify and evaluate sources of assistance for locating and establishing new markets
   • Analyse characteristics of potential markets
   • Review enterprise products and service range in in terms of potential market and customer requirements
   • Assess competitive position of enterprise product and prepare sales projections
   • Determine licensing and other regulatory requirements
   • Evaluate costs, benefits and risks of entering new markets
6. Develop a market entry strategy
   • Develop resourcing strategies for new market entry
   • Identify risk management strategies
   • Develop marketing strategies in association with relevant internal and external personnel
   • Plan distribution strategies to ensure profile of product in the new market
7. Identify contract and service requirements
   • Establish enterprise terms of payment and administrative requirements
   • Identify documentary and commercial requirements of new markets
   • Identify finance and insurance requirements
   • Identify contractual requirements relating to transport and distribution to ensure product quality and safety
8. Develop evaluation strategy for new market entry
   • Identify targets and determine performance indicator requirements
   • Prepare strategies for collecting and analysing performance data
   • Identify strategies for reporting outcomes, including future planning recommendations

Range Statement

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Performance Evidence

Evidence must demonstrate the candidate's consistency of performance over time.

Candidates must:

apply relevant communication and mathematical skills

communicate and negotiate clearly, ethically and effectively with a range of representatives (including internal personnel, government agents, financial agencies, distributors, export control agencies, brokers, customers) and other stakeholders

research potential markets including competitors, products, customers and market regulations, legislation and controls

evaluate feasibility of entering new markets

identify the cultural requirements of the new market and clients

identify strategies for financial risk management

prepare, negotiate and implement strategies and action plans for entering new markets

determine and obtain resources required to support new market strategy

establish infrastructure requirements for new market

use teamwork strategies to prepare work team to support new market strategy

evaluate and report market entry performance

identify and apply relevant workplace health and safety, regulatory and workplace requirements

maintain currency of knowledge through independent research or professional development

prepare enterprise strategies and plans which include resource requirements, timelines, milestones and communication strategies

present reports according to legal and enterprise requirements

research, collate and analyse information relating to the individual business, domestic and international context (as applicable)

use available information and communication technology and systems (including forecasting software, budgets, research material) to assist planning, monitoring and reporting

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Knowledge Evidence

The candidate must demonstrate an in depth technical and theoretical knowledge of:

purpose and features of distribution and marketing strategies

role of new markets in achieving enterprise goals and plans

enterprise budgetary and planning cycles and processes; methods of production analysis; and sales records and costs; and enterprise methods for estimating and forecasting sales and production requirements

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