BSBMKG401A
Profile the market

This unit covers segmenting the market, the selection of targeting strategies and tactics, the profiling of a target or target segments and the development of positioning strategies and implementation activities.Consider co-assessment with BSBMKG402A Analyse consumer behaviour for specific markets, BSBMKG403A Analyse market data and BSBMKG404A Forecast market and business needs.This unit covers segmenting the market, the selection of targeting strategies and tactics, the profiling of a target or target segments and the development of positioning strategies and implementation activities.Consider co-assessment with BSBMKG402A Analyse consumer behaviour for specific markets, BSBMKG403A Analyse market data and BSBMKG404A Forecast market and business needs.

Application

Not applicable.


Prerequisites

Not applicable.


Elements and Performance Criteria

Elements and Performance Criteria

Element

Performance Criteria

1

Segment the market

1.1

Criteria to use in segmenting the market are identified in accordance with the marketing plan

1.2

Sources of information for segmenting and profiling markets are identified and accessed in accordance with the marketing plan

1.3

The market is segmented in accordance with the selected criteria

1.4

Market segments are reviewed for their usefulness in terms of size, potential, distinctive needs, easy identification of members, and/or distinctive media use patterns

1.5

Market segment/s are selected to meet the requirements of the marketing plan, or new segmentation criteria are chosen and applied

2

Identify the target market

2.1

Approach/es to determining and describing the total market for a product or service are evaluated and chosen

2.2

The target market is defined in terms of the consumers to be included as prospective users of a product or service, and in terms of the selected market segment/s

2.3

Descriptions of the target market use segment descriptors

2.4

Available marketing strategic options are identified and the targeting strategy that best meets the requirements of the marketing plan is selected

3

Profile target audience

3.1

The total market and the selected market segment/s are described in the form of a consumer profile

3.2

The consumer profile identifies consumer characteristics in standard statistical terms and/or the descriptive terms used in media selection

3.3

Demographic and /or psychographic descriptions are used in the consumer profile in accordance with the requirements of the marketing plan

3.4

The profile meets organisational requirements in terms of language, format, content and level of detail

4

Develop a positioning strategy

4.1

Available positioning strategies are identified and a strategy is chosen to meet marketing requirements and the consumer profile

4.2

A positioning implementation plan is written in accordance with organisational requirements

Required Skills

Not applicable.

Evidence Required

The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for this unit. This is an integral part of the assessment of competency and should be read in conjunction with the Range Statement.

Critical Aspects of Evidence

Integrated demonstration of all elements of competency and their performance criteria

Profile contains rationale and supporting information

Underpinning Knowledge

* At this level the learner must demonstrate understanding of a broad knowledge base incorporating some theoretical concepts.

Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

Organisation's business structure, products and services

Organisation's business and marketing plan

Product and service standards and best practice models

Data collection and analysing techniques

Market mix

The elements of marketing planning

Underpinning Skills

Literacy skills to identify relevant information, to write reports and to interpret internal and external information

Communication including questioning, clarifying and reporting

Research and analyse market segments

Identify the target market and select targeting and positioning strategies that meet organisation's requirements

Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities

Resource Implications

The learner and trainer should have access to appropriate documentation and resources normally used in the workplace

Consistency of Performance

In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations

Context/s of Assessment

Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement

Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package

Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment

Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit

KEY COMPETENCY LEVELS

Collecting, analysing and organising information (Level 2)- from primary and secondary research sources

Communicating ideas and information (Level 2)- through development of an implementation plan

Planning and organising activities (Level 2)- to gather data from a range of sources

Working with teams and others (Level 2)- to determine segmentation criteria

Using mathematical ideas and techniques (Level 1)- for data analysis

Solving problems (Level 2)- to find 'best fit' positioning strategy

Using technology (Level 1)- to record and analyse data as required

The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for this unit. This is an integral part of the assessment of competency and should be read in conjunction with the Range Statement.

Critical Aspects of Evidence

Integrated demonstration of all elements of competency and their performance criteria

Profile contains rationale and supporting information

Underpinning Knowledge

* At this level the learner must demonstrate understanding of a broad knowledge base incorporating some theoretical concepts.

Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

Organisation's business structure, products and services

Organisation's business and marketing plan

Product and service standards and best practice models

Data collection and analysing techniques

Market mix

The elements of marketing planning

Underpinning Skills

Literacy skills to identify relevant information, to write reports and to interpret internal and external information

Communication including questioning, clarifying and reporting

Research and analyse market segments

Identify the target market and select targeting and positioning strategies that meet organisation's requirements

Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities

Resource Implications

The learner and trainer should have access to appropriate documentation and resources normally used in the workplace

Consistency of Performance

In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations

Context/s of Assessment

Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement

Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package

Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment

Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit

KEY COMPETENCY LEVELS

Collecting, analysing and organising information (Level 2)- from primary and secondary research sources

Communicating ideas and information (Level 2)- through development of an implementation plan

Planning and organising activities (Level 2)- to gather data from a range of sources

Working with teams and others (Level 2)- to determine segmentation criteria

Using mathematical ideas and techniques (Level 1)- for data analysis

Solving problems (Level 2)- to find 'best fit' positioning strategy

Using technology (Level 1)- to record and analyse data as required


Range Statement

The Range Statement provides advice to interpret the scope and context of this unit of competency, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:

Legislation, codes and national standards relevant to the workplace which may include:

award and enterprise agreements and relevant industrial instruments

relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

relevant industry codes of practice

Market segmentation is:

the process of dividing a market into consumer subgroups, each of which has different needs

Criteria to use in market segmentation may include:

consumer needs

benefits desired

product/service usage

attitude

demographics

lifestyle

social and cultural factors

business characteristics

Sources of information for segmenting and profiling markets may include:

industry sources

existing research data

original a priori research (where the market segments are assumed at the beginning and research is used to confirm them)

original response based research

Approaches to determining the total market may include:

identifying consumers with relevant needs

identifying current users of a product or service

identifying people with related characteristics

Targeting strategies may include:

price sensitivity

sales volume

market share

purchasing power

ease of entry

growth considerations

differentiation and segmentation

niche markets

concentrated, differentiated and mass strategies

Consumers may include:

individuals

businesses

households

Standard statistical terms:

are those categories used by the Australian Bureau of statistics in collecting and reporting census data

Terms used to describe segments may include:

demographics:

age

sex

education

marital status

occupation

nationality

first language

children

income

Demographic descriptions may include:

date and place of birth

sex

nationality

indigenous Australian

education

occupation

marital status

first language

other languages spoken at home

number and age of children

income level

disability

Psychographic descriptions may include:

activities

interests

opinions

values

attitudes

lifestyle

Positioning strategies may include:

image perceptions

prestige and exclusive positioning

conspicuous positioning

service positioning

value positioning

market leader positions

market follower positions

Me-Too positioning

repositioning

competitive positioning

Marketing may include:

marketing of goods

services marketing

ideas marketing

public sector marketing

direct marketing

telemarketing

business-to-business marketing

The Range Statement provides advice to interpret the scope and context of this unit of competency, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:

Legislation, codes and national standards relevant to the workplace which may include:

award and enterprise agreements and relevant industrial instruments

relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination

relevant industry codes of practice

Market segmentation is:

the process of dividing a market into consumer subgroups, each of which has different needs

Criteria to use in market segmentation may include:

consumer needs

benefits desired

product/service usage

attitude

demographics

lifestyle

social and cultural factors

business characteristics

Sources of information for segmenting and profiling markets may include:

industry sources

existing research data

original a priori research (where the market segments are assumed at the beginning and research is used to confirm them)

original response based research

Approaches to determining the total market may include:

identifying consumers with relevant needs

identifying current users of a product or service

identifying people with related characteristics

Targeting strategies may include:

price sensitivity

sales volume

market share

purchasing power

ease of entry

growth considerations

differentiation and segmentation

niche markets

concentrated, differentiated and mass strategies

Consumers may include:

individuals

businesses

households

Standard statistical terms:

are those categories used by the Australian Bureau of statistics in collecting and reporting census data

Terms used to describe segments may include:

demographics:

age

sex

education

marital status

occupation

nationality

first language

children

income

Demographic descriptions may include:

date and place of birth

sex

nationality

indigenous Australian

education

occupation

marital status

first language

other languages spoken at home

number and age of children

income level

disability

Psychographic descriptions may include:

activities

interests

opinions

values

attitudes

lifestyle

Positioning strategies may include:

image perceptions

prestige and exclusive positioning

conspicuous positioning

service positioning

value positioning

market leader positions

market follower positions

Me-Too positioning

repositioning

competitive positioning

Marketing may include:

marketing of goods

services marketing

ideas marketing

public sector marketing

direct marketing

telemarketing

business-to-business marketing


Sectors

Not applicable.


Employability Skills

Not applicable.


Licensing Information

Not applicable.