Application
This unit describes the skills and knowledge required to conduct a strategic analysis to develop organisational marketing objectives. This involves reviewing the organisation’s internal and external environments, evaluating past and current marketing performance, and exploring and evaluating new marketing opportunities.
It applies to senior marketing professionals who are responsible for providing strategic direction to the marketing function of an organisation. Their responsibilities include analysing information on internal and external business and marketing environment; examining current marketing performance; identifying new marketing opportunities arising from emerging trends; and devising strategies to achieve overall business objectives.
Individuals operating at this level generally conduct these activities using information gathered by people working under their direct and indirect supervision at lower levels of the organisation.
No licensing, legislative or certification requirements 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. Identify strategic direction | 1.1 Confirm organisation’s mission, vision, purpose and values from current organisational materials or from owners, directors or senior management 1.2 Analyse strategic organisational documents to identify organisational directions and targets 1.3 Complete a situational analysis identifying factors impacting the direction and performance of the business 1.4 Identify legal and ethical requirements for the organisation 1.5 Document and confirm strategic direction of the organisation with owners, directors or senior management, and identify its impact on marketing activities |
2. Review marketing performance | 2.1 Evaluate effectiveness of previous marketing and positioning strategies to identify lessons learned 2.2 Analyse current key products or services and major markets for strengths, weaknesses, opportunities and threats 2.3 Evaluate previous marketing opportunities captured by the organisation, and examine and document their profitability 2.4 Evaluate marketing performance against previous objectives, targets to identify critical success factors, and areas for improvement |
3. Scope marketing opportunities | 3.1 Identify and analyse marketing opportunities for viability and likely contribution to the business 3.2 Use an assessment of external factors, costs, benefits, risks and opportunities to determine scope of each marketing opportunity 3.3 Analyse opportunities for likely fit with organisational goals and capabilities 3.4 Evaluate each opportunity to determine its likely impact on current business and customer base |
4. Formulate marketing objectives | 4.1 Develop objectives in consultation with key internal stakeholders that are attainable and measurable, and that identify nature and extent of what is to be achieved 4.2 Ensure objectives are consistent with forecast needs of the business and market 4.3 Ensure objectives are compatible with the organisation’s projected capabilities, resources and financial position 4.4 Ensure objectives are compatible with the organisation’s direction and purpose, and meet legal and ethical requirements 4.5 Formulate long-term strategic objectives and related key performance indicators by product or service, market segment and overall 4.6 Develop a risk management strategy to identify risks and manage contingencies, and to ensure marketing objectives are met in accordance with overall organisational requirements 4.7 Document marketing objectives |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1, 1.2, 1.4, 2.1-2.4, 3.1-3.3, 4.3, 4.4, 4.6 | Accesses, analyses and evaluates information from a range of sources relating to the marketing process |
Writing | 1.3, 1.5, 2.3, 4.1, 4.5-4.7 | Uses a range of writing styles to articulate complex concepts Revises and edits documents based on feedback Uses appropriate formats and grammatical structures to present information logically for different audiences |
Oral Communication | 1.1, 1.5, 4.1 | Uses appropriate language and non-verbal features to explain and present information to a range of personnel Uses active listening and questioning to elicit feedback and clarify or confirm understanding |
Numeracy | 1.2, 2.2, 2.3, 3.2 | Analyses complex numerical information on trend data, targets and budgets |
Navigate the world of work | 1.1, 1.2, 1.4, 3.3, 4.4, 4.6 | Works autonomously making high-level decisions to ensure organisational objectives and regulatory requirements are met Understands own legal and ethical rights and responsibilities |
Interact with others | 1.1, 1.5, 4.1 | Recognises importance of taking audience, purpose and contextual factors into account when making decisions about what to communicate with whom, why and how Fosters a collaborative culture within own sphere of influence, facilitating a sense of commitment to shared goals |
Get the work done | 1.3, 2.1-2.4, 3.1-3.4, 4.2, 4.3, 4.5, 4.6 | Uses logical planning processes, and an increasingly intuitive understanding of context, to extract relevant details when conducting strategic analysis Systematically analyses information to formulate and evaluate alternative strategies Makes a range of critical and non-critical decisions in relatively complex situations, taking a range of factors into account |
Sectors
Business Development – Marketing