- BSBMKG401B - Profile the market
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
BSBMKG401B Mapping and Delivery Guide
Profile the market
Version 1.0
Issue Date: April 2024
| Qualification | - |
Unit of Competency | BSBMKG401B - Profile the market |
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| Description | This unit describes the performance outcomes, skills and knowledge required to profile a target market or market segments in accordance with a marketing plan and to develop market positioning strategies.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. | ||
| Employability Skills | This unit contains employability skills. | ||
| Learning Outcomes and Application | This unit applies to individuals working in a marketing team who are responsible for segmenting a target market to review alignment with organisational marketing objectives. This involves identifying viable market segments and profiling target consumers, and then defining the target market in more detail and developing strategies to position products and services.This unit is relevant to individuals working in a variety of marketing communications occupational roles, including advertising, direct marketing, promotional marketing, personal selling and public relations. | ||
| Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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| Prerequisites/co-requisites | |||
| Competency Field | Business Development - Marketing | ||
| Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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| Elements of Competency | Performance Criteria | |||||||
| Element: Segment the market |
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| Element: Identify the target market |
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| Element: Profile the target audience |
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| Element: Develop a positioning strategy |
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Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: developing a market positioning strategy that documents market segmentation, consumer profiling, targeting and strategies relevant to a product or service being offered to the marketplace. |
Context of and specific resources for assessment | Assessment must ensure: access to appropriate documentation and resources normally used in the workplace access to information on past profiling, segmentation and targeting performed for a product or service. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following assessment methods are appropriate for this unit: assessment of positioning implementation plan direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate observation of the application of criteria to segment markets, selection of targeting strategies oral or written questioning to assess knowledge and understanding presentation of marketing profiling activities review of authenticated documents from the workplace or training environment review of testimony from team members, colleagues, supervisors or managers. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: BSBMKG402B Analyse consumer behaviour for specific markets BSBMKG507A Interpret market trends and developments. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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Required skills |
creativity and innovation skills to select targeting and positioning strategies that meet organisation's requirements culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities key provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations such as: Australian Direct Marketing Association (ADMA) Direct Marketing Code of Practice Free TV Australia Commercial Television Industry Code of Practice privacy laws sweepstakes regulations Trade Practices Act literacy skills to prepare reports and to interpret internal and external marketing information research skills to identify and analyse market segments and target markets. |
Required knowledge |
Australian Marketing Institute Code of Professional Conduct data collection and analysis techniques industry knowledge including: components of the marketing mix elements of marketing planning marketing communications concepts and processes organisational structures, roles, responsibilities, business and marketing plans product and service standards and best practice models relevant legislation from all forms of government that may affect aspects of business operation in addition to those listed above, especially in relation to occupational health and safety, environmental issues, equal opportunity, industrial relations and anti-discrimination statistical terms used by the Australian Bureau of Statistics. |
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, if used in the performance criteria, is detailed below. 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) may also be included. | |
Criteria may include: | attitude average order value in units and dollars desired benefits business characteristics consumer needs demographics geography lifestyle lifetime value in units, dollars and number of transactions product or service usage psychographics recency and frequency of response to direct marketing activities social and cultural factors |
Sources of information for segmenting and profiling markets may include: | advertising sales representatives existing research data industry sources media representatives original a priori research (where the market segments are assumed at the beginning and research is used to confirm them) original response based research owners or brokers of mail, email and phone lists sales representatives website operators |
Usefulness in terms of size may include: | segments which are large enough to justify the expense of creating distinctive offers and creative executions small segments which are viable if telephone and email are used as communication media rather than other types of media |
Potential may include: | high response of market segment members to test campaigns high response to previous campaigns by members of market segments |
Distinctive needs may include: | specific price points specific products or services specific response vehicles such as: store visiting only website only response specific timing of communications such as: day of week seasonality time of day |
Easy identification of members may include: | flags such as: postcode date of last purchase geographical location of segment members, such as: city metropolitan region regional centre rural region state or territory spending habits such as: one-off purchasers subscribers |
Distinctive media use patterns may include: | age email use ethnic language television, newspapers and radio gender internet use mobile phone use special interests |
Selection of market segments may be contingent upon: | expected frequency of purchase expected lifetime as customers expected volume of purchase how efficiently segment members can be reached with targeted communications one or more segments |
Approaches may include: | describing total market in dollar or unit terms as gross sales of all other products or services similar to those offered by the organisation describing total market in prospect terms as those most similar to current customers identifying consumers with relevant needs identifying current users of a product or service identifying people with related characteristics |
Prospective users may include: | market segment users most similar to current customers |
Segment descriptors may include: | demographic descriptions geographic descriptions historic descriptions such as: volume of purchase frequency of purchase psychographic descriptions |
Strategic marketing options may include: | advertising strategies such as: most cost effective creative executions most cost effective media or media vehicle for each segment most cost-effective media or media vehicle distribution strategies such as: one-step multi-step innovative strategies |
Targeting strategies may include: | anniversary of first purchase concentrated, differentiated and mass strategies de-duping prospect lists against customer lists differentiation and segmentation ease of entry frequency of purchase gender geography of home or workplace growth considerations innovation market share media usage niche markets price sensitivity purchasing power recency of purchase sales volume |
Standard statistical terms may include: | categories used by the Australian Bureau of Statistics in collecting and reporting census data media selection terms such as: behaviouristics demographics geo-demographic analysis of census data available from proprietary research suppliers geographic selections and segmentations |
Demographic descriptions may include: | age date and place of birth disability education first language gender household income indigenous Australian languages spoken at home marital status nationality number and age of children occupation |
Psychographic descriptions may include: | activities affiliations attitudes interests lifestyle opinions political views values |
Positioning strategies may include: | competitive positioning conspicuous positioning convenience of use convenience to buy image perceptions market follower positions market leader positions Me-Too positioning prestige and exclusive positioning pricing quality repositioning service positioning uniqueness value positioning |
Marketing requirements may include: | business-to-business marketing direct marketing ideas marketing marketing of goods public sector marketing services marketing telemarketing |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
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| Identify criteria for use in segmenting the market in accordance with the marketing plan | |||
| Identify and access sources of information for segmenting and profiling markets in accordance with the marketing plan | |||
| Segment the market in accordance with identified criteria | |||
| Review market segments for their usefulness in terms of factors such as their size, potential, distinctive needs, easy identification of members or distinctive media use patterns | |||
| Select market segments to meet marketing objectives, and choose and apply new segmentation criteria if required | |||
| Evaluate approaches to determining and describing the total market for a product or service | |||
| Define the target market in terms of the consumers to be included as prospective users of a product or service, and the selected market segments | |||
| Use segment descriptors to describe the target market | |||
| Identify available strategic marketing options and select targeting strategies that best meet the requirements of the marketing plan | |||
| Describe the total market and selected market segments in the form of a consumer profile | |||
| Identify consumer characteristics in standard statistical terms and/or the descriptive terms used in media selection in the consumer profile | |||
| Use demographic and/or psychographic descriptions in the consumer profile in accordance with the requirements of the marketing plan | |||
| Describe consumer attitudes to products or services being offered | |||
| Ensure profile meets organisational requirements in terms of language, format, content and level of detail | |||
| Identify available positioning strategies and choose a strategy to meet marketing requirements and consumer profile | |||
| Write a positioning implementation plan containing several options, in accordance with organisational requirements | |||
| Submit plan to supervisor within specified time lines and make appropriate adjustments based on feedback |
Forms
Assessment Cover Sheet
BSBMKG401B - Profile the market
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Assessment Record Sheet
BSBMKG401B - Profile the market
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