Application
This unit of competency describes the skills and knowledge required to market products and services.
All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.
This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Elements and Performance Criteria
Element | Performance criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Analyse market information | 1.1 Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data 1.2 Analyse past trends and developments to determine market variability and associated risks 1.3 Develop gross margin budgets to account for market variability 1.4 Identify and evaluate competing products to determine strengths and weaknesses of own products 1.5 Monitor market environment to ensure information is current and reliable 1.6 Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise 1.7 Identify product specifications that suit market requirements and price advantage at the time 1.8 Present clear and concise information to the enterprise management team |
2. Identify and evaluate factors to include in a marketing plan | 2.1 Identify and evaluate production processes to ensure required product specifications are met 2.2 Identify and assess alternative selling strategies and techniques to identify marketing targets and methods 2.3 Identify and assess distribution channels and their role in your marketing strategies 2.4 Ensure the data used is reliable and the market environment and trends are substantiated 2.5 Evaluate the role of marketing professionals in providing advice |
3. Develop a marketing plan for your products and services | 3.1 Establish marketing objectives based on current and potential product specifications 3.2 Select appropriate production processes to ensure product specifications are met 3.3 Select selling strategies to ensure required prices are achieved 3.4 Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately 3.5 Establish time-frames for production, distribution and selling activities 3.6 Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan 3.7 Develop partial gross margin budgets to account for market variability |
4. Determine promotional strategies | 4.1 Prepare and record detailed plans for promotional activities 4.2 Outline objectives, level of exposure and available markets 4.3 Ensure strategies take account of time management and scheduling issues, and resource constraints 4.4 Create promotional materials that enhance the product and commercial presentation 4.5 Record and communicate priorities, responsibilities, timelines and budgets for promotional activities |
5. Implement marketing activities | 5.1 Schedule planned marketing activities within appropriate timeframes 5.2 Develop measurable performance targets that meet business plan objectives 5.3 Organise distribution channels and ensure product and service information is accurate and readily available to clients 5.4 Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements |
6. Evaluate marketing performance | 6.1 Review the established marketing objectives to ensure they remain viable 6.2 Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives 6.3 Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements 6.4 Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas 6.5 Document and distribute information for continual analysis and effective planning management |
Evidence of Performance
The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.
The candidate must provide evidence that they can:
collect, analyse and present data in the internal and external business environment
identify the marketable features of the product and potential markets
assess alternative marketing strategies and techniques to meet business plan objectives
evaluate performance targets and recommend modifications or improvements
plan, implement and evaluate a marketing strategy
plan to manage promotional activities
develop and manage budgets
monitor product, pricing and distribution policies to improve market performance.
Evidence of Knowledge
The candidate must demonstrate knowledge of:
financial management and budgeting
price risk management
performance evaluation measures
competitors strengths and weaknesses
business planning process
customer relations policies
market conditions and forces
enterprise goals, objectives and directions
markets and market analysis
communication and promotion skills
sales and marketing principles and practices
principles of trend analysis
legal issues that affect marketing activities (trade practices, Fair Trading Acts, Sales of Goods Acts)
industry and marketing knowledge including sales networks and distribution systems, and customer trends and preferences
demographic studies and their application in the development of a marketing plan.
Assessment Conditions
Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.
Assessors must satisfy current standards for RTOs.
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.
Range Statement
Sectors
Business (BUS)