Elements and Performance Criteria
- Identify the products and services used by the organisation
- Company products and services used by organisation are identified and the purpose of each determined
- Product and service characteristics are identified and their strengths, weaknesses, terms, and conditions understood and communicated to clients, where applicable
- Organisation’s promotional strategy for products and services is accessed and applied in business activities
- Identify compliance implications of product
- Determine the appropriate users for products and services
- Function of each product and service and the customer needs it satisfies are identified and documented
- Customer characteristics that best suit each product are researched
- Products and services used by the organisation are compared with the products of competitors as a basis for selecting the most effective approach to matching the products to customer needs
- Approaches to selling the products and services, keeping in mind competitors, are evaluated and useful approaches to meeting customer needs are determined
- Maintain product knowledge
- Relevant products and services are reviewed regularly and any changes to terms and conditions identified and applied in daily work
- Systems for keeping up with changes and maintaining up-to-date knowledge about relevant products and services are put in place
- Emerging trends affecting the financial industry are continuously reviewed and applied to product and service knowledge