Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

BSBMKG501 Mapping and Delivery Guide
Identify and evaluate marketing opportunities

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency BSBMKG501 - Identify and evaluate marketing opportunities
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.It applies to individuals working in a supervisory or management marketing or advertising role within a marketing or advertising team or media organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
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
Elements of Competency Performance Criteria              
Element: Identify marketing opportunities
  • Analyse information on market and business needs to identify marketing opportunities
  • Research potential new markets and assess opportunities to enter, shape or influence each market, and the likely contribution to the business
  • Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities
       
Element: Investigate marketing opportunities
  • Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities
  • Evaluate each opportunity to determine its impact on current business and customer base
  • Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity
  • Determine probable return on investment and potential competitors
  • Describe and rank marketing opportunities on their viability, and likely contribution to the business
       
Element: Evaluate required changes to current operations
  • Identify and document changes needed to current operations to take advantage of viable marketing opportunities
  • Ensure organisational changes to service an increased or different customer base including provision for continued quality of service to existing customers
  • Estimate resource requirements for changed operations
  • Determine and communicate viability of making changes to current operations to key stakeholders
  • Document newly identified marketing opportunities and required changes
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify marketing opportunities

1.1 Analyse information on market and business needs to identify marketing opportunities

1.2 Research potential new markets and assess opportunities to enter, shape or influence each market, and the likely contribution to the business

1.3 Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities

2. Investigate marketing opportunities

2.1 Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities

2.2 Evaluate each opportunity to determine its impact on current business and customer base

2.3 Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity

2.4 Determine probable return on investment and potential competitors

2.5 Describe and rank marketing opportunities on their viability, and likely contribution to the business

3. Evaluate required changes to current operations

3.1 Identify and document changes needed to current operations to take advantage of viable marketing opportunities

3.2 Ensure organisational changes to service an increased or different customer base including provision for continued quality of service to existing customers

3.3 Estimate resource requirements for changed operations

3.4 Determine and communicate viability of making changes to current operations to key stakeholders

3.5 Document newly identified marketing opportunities and required changes

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify marketing opportunities

1.1 Analyse information on market and business needs to identify marketing opportunities

1.2 Research potential new markets and assess opportunities to enter, shape or influence each market, and the likely contribution to the business

1.3 Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities

2. Investigate marketing opportunities

2.1 Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities

2.2 Evaluate each opportunity to determine its impact on current business and customer base

2.3 Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity

2.4 Determine probable return on investment and potential competitors

2.5 Describe and rank marketing opportunities on their viability, and likely contribution to the business

3. Evaluate required changes to current operations

3.1 Identify and document changes needed to current operations to take advantage of viable marketing opportunities

3.2 Ensure organisational changes to service an increased or different customer base including provision for continued quality of service to existing customers

3.3 Estimate resource requirements for changed operations

3.4 Determine and communicate viability of making changes to current operations to key stakeholders

3.5 Document newly identified marketing opportunities and required changes

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
Analyse information on market and business needs to identify marketing opportunities 
Research potential new markets and assess opportunities to enter, shape or influence each market, and the likely contribution to the business 
Explore entrepreneurial, innovative approaches and creative ideas for their potential business application, and develop into potential marketing opportunities 
Identify and analyse opportunities in terms of their likely fit with organisational goals and capabilities 
Evaluate each opportunity to determine its impact on current business and customer base 
Use an assessment of external factors, costs, benefits, risks and opportunities to determine the financial viability of each marketing opportunity 
Determine probable return on investment and potential competitors 
Describe and rank marketing opportunities on their viability, and likely contribution to the business 
Identify and document changes needed to current operations to take advantage of viable marketing opportunities 
Ensure organisational changes to service an increased or different customer base including provision for continued quality of service to existing customers 
Estimate resource requirements for changed operations 
Determine and communicate viability of making changes to current operations to key stakeholders 
Document newly identified marketing opportunities and required changes 

Forms

Assessment Cover Sheet

BSBMKG501 - Identify and evaluate marketing opportunities
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

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Date:

Assessment Record Sheet

BSBMKG501 - Identify and evaluate marketing opportunities

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: