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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

  1. Develop business profile.
  2. Develop buyer profile.
  3. Prepare marketing material.
  4. Implement marketing options.
  5. Review and report on marketing activities.

Required Skills

This section describes the essential skills and knowledge and their level required for this unit

Required skills

access and interpret a variety of information relating to marketing a business

determine most appropriate marketing methods

identify current market trends and positions

interpret and comply with legislative requirements

liaise with clients marketing agents and other staff

obtain information relevant to marketing a business and provide information on the marketing process and its progress

relate to people from a range of social cultural and ethnic backgrounds and of varying physical and mental abilities

resolve potential marketing dilemmas and client concerns and issues

select and use appropriate technology

Required knowledge and understanding

agencys business structure

agencys policy and procedures for client service including ethical behaviour and marketing procedures

mechanisms to obtain and analyse client comments and feedback

principles and techniques for communicating concerns to clients

principles and techniques for marketing a business

relevant federal and state or territory legislation and local government regulations related to

antidiscrimination

business broking

business operation and appraisals especially in regard to franchise and business structures and the sale and appraisal of businesses

consumer protection

environmental issues

equal employment opportunity

industrial relations

OHS

sale and listing of businesses

service standards and best practice models

strategies for planning and monitoring marketing activities

types of marketing and benefits and limitations of each for a variety of business types

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this Training Package

Overview of assessment

This unit of competency could be assessed through practical demonstration of marketing a listed business within the context of a business brokerage Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates knowledge and application of ethical standards and relevant federal and state or territory legislation and regulations This assessment may be carried out in a simulated or workplace environment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of

analysing marketing options and current market trends

communicating and negotiating with relevant parties and monitoring the marketing process to ensure effective marketing of the property

documenting relevant information on the marketing process

knowledge of agency practice ethical standards and legislative requirements associated with marketing a listed business

preparing and structuring marketing materials and options

Context of and specific resources for assessment

Resource implications for assessment include

access to suitable resources and simulated or real opportunities to demonstrate competence

assessment instruments that may include personal planner and assessment record book

access to a registered provider of assessment services

Where applicable physical resources should include equipment modified for people with disabilities

Access must be provided to appropriate learning andor assessment support when required

Assessment processes and techniques must be culturally appropriate and appropriate to the language and literacy capacity of the candidate and the work being performed

Validity and sufficiency of evidence require that

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the persons competence

all assessment that is part of a structured learning experience must include a combination of direct indirect and supplementary evidence

where assessment is for the purpose of recognition RCCRPL the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated projectbased activity and must include evidence relating to each of the elements in this unit

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions and will reflect the requirements of the competency and the work being performed


Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.

Marketing strategies may include:

advertising options and frequency

canvassing

e-business listings

media releases

promotional activities

targeting known areas of potential interest in the listed business.

Legislative and agency requirements may relate to:

access and equity policy, principles and practice

business and performance plans, including organisational goals and objectives

industry and agency codes of conduct and practice, and code of ethics

legislative and statutory requirements for provision of business broking services

marketing plans

mission statements and strategic plans

OHS policies, procedures and programs

organisational policy, guidelines and requirements

policies and procedures relating to own role, responsibility and delegation

privacy and confidentiality requirements

quality assurance and procedures manual, including sales and client liaison procedure manuals

records and information systems

reporting and communication structures.

Source documents may include:

financial statements

franchise agreements

asset and property leases

plant and equipment inventories

statutory paperwork, such as incorporation documents.

Potential difficulties may relate to:

allocated budgets relating to marketing and promotion

legislative requirements

levels of interest

market trends and current selling prices

terms and conditions of tenure.

Buyer profile may include:

business skills, experience and knowledge

financial capacity and return expectations

health status

income needs

time constraints

workforce support expectations.

Marketing materials may include:

advertising copy

brochures and pamphlets

portfolio of the business

preparation of displays.

Promotional methods may include:

advertising copy

multi-listing or sole agency

poster and window displays

presentations

web listings.

Networks may include:

branches of own or associated agencies

local community and regional organisations and contacts

local, regional and national media

professional associations.

Progress may relate to:

buyer interest

impact of current marketing strategies.

Information on progress may include:

agency input into marketing the business so far

approaches and enquiries of interest regarding the listed business

costings of marketing activities

perception of levels of interest and worth of current marketing strategies

possible changes in the marketing strategy

strategies used in the marketing and promotion of the business.

Feedback may be collected from:

formal and informal discussions with existing and previous clients

information from potential buyers

information provided by others involved in the appraisal process, both internal and external to the organisation

market share data

sales and completion results.