Elements and Performance Criteria
- Research the market.
- Focus product research according to business objectives.
- Access information sources for floristry market trends, distribution and marketing networks.
- Analyse current and emerging technologies, market and design trends, and product and service gaps.
- Consult with colleagues and external stakeholders.
- Identify product development opportunities and target markets.
- Evaluate distribution and marketing networks for potential to successfully market proposed product.
- Analyse issues relevant to product establishment.
- Identify and analyse product preferences and quality expectations of different consumer markets.
- Identify and analyse external issues that impact on product establishment.
- Assess availability of flower and plant materials and ancillary materials that meet preferences of target market.
- Assess business capacity to provide proposed product and identify additional required resources.
- Consider issues relating to product life cycle.
- Determine profitable selling price.
- Determine net production cost by identifying attributable business operating costs and product specific costs.
- Incorporate distributor commissions or mark ups, determine required profit margin and mark up for profitable selling price.
- Consider competitor product pricing and make reasonable cost adjustments to ensure a price competitive product.
- Assess profitability of a range of proposed products and choose highest yielding products.
- Clearly and accurately document pricing structures.
- Establish the product.
- Monitor and evaluate success of the product.
- Monitor product success based on marketplace response and feedback from distributors, staff and customers.
- Assess changes in internal or external environment that impact cost effectiveness and profitability.
- Monitor quality of supplied flowers, plant materials and merchandise and rectify deficiencies affecting overall quality of product range.
- Rationalise or delete non-performing products within the range.
- Communicate changes to relevant colleagues, customers and distributors.
- Research the market.
- Focus product research according to business objectives.
- Access information sources for floristry market trends, distribution and marketing networks.
- Analyse current and emerging technologies, market and design trends, and product and service gaps.
- Consult with colleagues and external stakeholders.
- Identify product development opportunities and target markets.
- Evaluate distribution and marketing networks for potential to successfully market proposed product.
- Analyse issues relevant to product establishment.
- Identify and analyse product preferences and quality expectations of different consumer markets.
- Identify and analyse external issues that impact on product establishment.
- Assess availability of flower and plant materials and ancillary materials that meet preferences of target market.
- Assess business capacity to provide proposed product and identify additional required resources.
- Consider issues relating to product life cycle.
- Determine profitable selling price.
- Determine net production cost by identifying attributable business operating costs and product specific costs.
- Incorporate distributor commissions or mark ups, determine required profit margin and mark up for profitable selling price.
- Consider competitor product pricing and make reasonable cost adjustments to ensure a price competitive product.
- Assess profitability of a range of proposed products and choose highest yielding products.
- Clearly and accurately document pricing structures.
- Establish the product.
- Monitor and evaluate success of the product.
- Monitor product success based on marketplace response and feedback from distributors, staff and customers.
- Assess changes in internal or external environment that impact cost effectiveness and profitability.
- Monitor quality of supplied flowers, plant materials and merchandise and rectify deficiencies affecting overall quality of product range.
- Rationalise or delete non-performing products within the range.
- Communicate changes to relevant colleagues, customers and distributors.