Application
This unit involves establishing the requirements of the customer then developing, implementing and evaluating appropriate marketing strategies. | |
Prerequisites
Nil | |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA | ||
1 | Establish wholesale customer requirements. | 1.1 | Research existing and potential customers to establish demand. |
1.2 | Determine and compare requirements for business customers and customers of those businesses. | ||
1.3 | Devise and implement systems to receive, respond to and address customer feedback. | ||
1.4 | Assess market research information against the aims and targets of the business plan. | ||
1.5 | Record customer requirements and preferences in relation to business products or services and factor into marketing strategies. | ||
2 | Develop marketing strategies. | 2.1 | Devise marketing strategies to optimise sales and profit in line with: aim and targets of the business plan customer requirements benefits to business partners market position logistical capacity capacity and resources of the business forecasts relating to demand. |
2.2 | Accurately complete segmentation, targeting and positioning of a product. | ||
2.3 | Determine resource requirements for implementation of marketing plans. | ||
2.4 | Accurately set cost of promotional activities to reach identified and potential customers. | ||
2.5 | Accurately determine marketing mix. | ||
2.6 | Determine promotional and distribution methods to reach the identified market segments. | ||
3 | Implement marketing strategies. | 3.1 | Implement marketing strategies aimed at improving the wholesale business's competitive position. |
3.2 | Allocate business resources required to effectively implement marketing strategies. | ||
3.3 | Coordinate internal and external personnel to implement marketing strategies. | ||
4 | Monitor marketing strategies. | 4.1 | Establish systems for regularly monitoring marketing activities and evaluating marketing strategies. |
4.2 | Complete analysis of marketing strategies to ascertain emerging or changing business opportunities. | ||
4.3 | Monitor achievement of performance targets for a marketing plan. | ||
4.4 | Identify and address barriers to attainment of marketing strategy outcomes. | ||
5 | Evaluate marketing strategies and customer satisfaction. | 5.1 | Secure customer reaction to all aspects of the marketing mix to guide future marketing activities. |
5.2 | Evaluate sales and service levels to determine opportunities for change and improve marketing activities to business or direct customers. | ||
5.3 | Evaluate sales and marketing outcomes to guide future product and service development, change and improvement. | ||
5.4 | Seek recommendations for improvement in performance in relation to specific marketing effort from staff and business customers. |
Required Skills
This section describes the essential skills and knowledge and their level, required for this unit. |
The following skills must be assessed as part of this unit: interpersonal communication skills to: coordinate personnel seek feedback through clear and direct communication ask questions to identify and confirm requirements share information give instructions use language and concepts appropriate to cultural differences use and interpret non-verbal communication: literacy and numerical skills related to: reading and understanding business policy and procedures reading and interpreting a range of written documentation recording data data analysis pricing research skills investigation of previous marketing campaigns and historical data planning marketing strategy consistent with principles and practices of marketing developing effective segmentation, targeting and positioning strategies for a specific product based on available information developing and implementing marketing strategies and campaigns in an analytic and efficient manner. |
The following knowledge must be assessed as part of this unit: research methods principles and practices of marketing, including: product development cycle price adjustment strategies segmentation, targeting and positioning business policy and procedures, in regard to: marketing, sales, promotion and advertising appropriate marketing strategies for a range of products and specific markets planning integration of development and maintenance functions logistics determining customer needs, expectations and satisfaction levels relevant legislation affecting marketing activities. |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package. | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: ability to map how marketing strategies affect purchasing, inventory management, logistics, distribution, and sale of products and services completion of accurate customer profiles by product or service development of effective marketing strategies based on existing data accurate determination of market mix implementation of marketing strategies to achieve targets coordination and understanding of internal and external personnel implementing marketing strategy maintenance of customer satisfaction evaluation and review of marketing strategies to improve market share and profitability of specific products or services. |
Context of and specific resources for assessment | Assessment must ensure access to: a real or simulated work environment relevant documentation, such as: business policy and procedures manuals product or service information a market. |
Methods of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: observation of the candidate in the workplace third-party reports from a supervisor a detailed case study written or verbal questioning to assess knowledge and understanding review of portfolios of evidence and third-party workplace reports of on-the-job performance. Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended. |
Assessing employability skills | Employability skills are integral to effective performance in the workplace and are broadly consistent across industry sectors. How these skills are applied varies between occupations and qualifications due to the different work functions and contexts. Employability skills embedded in this unit should be assessed holistically in the context of the job role and with other relevant units that make up the skill set or qualification. |
Range Statement
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 in the performance criteria is detailed below. | |
Customers may include: | new and existing customers business customers end customers internal or external customers people from a range of social, cultural and ethnic backgrounds and with varying physical and mental abilities customers with routine or special needs. |
Market research information may be: | electronic, e.g. database, intranet, virtual private network, ultranet, internet search written, e.g. newspapers, annual reports, Australian Bureau of Statistics reports visual media, e.g. videos, television news. |
Elements of the business plan may include: | sales marketing purchasing and procurement disposal human resources public relations contingency risk management environmental impact. |
Marketing strategies may vary according to: | product or service business relationships strategic imperative sales strategy promotional strategies and their duration, cycle, territory coverage and product or service focus demographics economics competition social and cultural factors political influences legal factors natural factors technology. |
Resource requirements may include: | people materials equipment and technology budget time. |
Marketing mix may include: | promotions product price place. |
Monitoring marketing activities may include: | market control market information market planning market structure market share. |
Evaluating marketing strategies may include: | location product and service mix packaging or presentation quality factors (time, cost, variations) access continuity. |
Marketing outcomes may be mapped or measured against: | key performance indicators strategic objectives market share price market and sales indicators brand value quality standards and criteria performance benchmarks milestones. |
Sectors
Sector | Cross-Sector |
Competency Field
Marketing and Public Relations | |
Employability Skills
The required outcomes described in this unit contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit is packaged will assist in identifying employability skills requirements. | |
Licensing Information
Not applicable.