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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. Collect information on internal business environment
   • Identify and document core activities, client base and strategic direction of business
   • Access and analyse information on current marketing performance and successful or underperforming products or services
   • Determine and document current capabilities and resources
2. Collect information on external business environment
   • Collect and analyse information on expected growth or decline of demand for financial products and services, and associated risk factors
   • Identify projected changes in economic activity, labour force, population, legal requirements and other factors that may affect business
   • Collect and analyse information on comparable products and services in market
   • Identify and assess emerging trends in market
3. Analyse data collected
   • Establish reliability and validity of data collected, and analyse and document information collected on internal and external environment using appropriate methods
   • Present results of analysis in format that may be used to guide marketing decisions
4. Identify opportunities for financial products
   • Identify opportunities for financial products and services based on data collected and develop range of options
   • Justify options on basis of analysis of information collected
5. Determine viability of options and present results to appropriate personnel
   • Review options identified against existing products and services, and assess against organisation’s capacity to deliver financial products or services
   • Assess viability of each option based on data collected
   • Present results of investigation and analysis in clear, concise format to appropriate personnel to assist in decision making

Performance Evidence

Evidence of the ability to:

access and collect relevant information on the internal and external business environment

analyse information and draw conclusions on marketing of products and services using appropriate methods

identify opportunities for financial products and determine the viability of options.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

outline key emerging trends impacting on the financial services industry

describe the key features of industry regulatory and compliance requirements

describe the industry sector market position relative to the product and/or line of business

discuss the application of marketing principles and practices when assessing market needs

outline the key methods for analysing internal and external information and data

describe the key requirements of organisational or industry sector policy documentation.

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