SIRXMPR007A
Devise a strategic marketing plan

This unit describes the performance outcomes, skills and knowledge required to collaboratively plan, implement and monitor strategic marketing for a wholesale business or business unit.

Application

This unit focuses on the establishment of strategic marketing goals and performance indicators, including predicting trends, positioning products in the market, and implementing the plan in collaboration with relevant personnel.


Prerequisites

Nil


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1

Set strategic marketing goals and performance indicators.

1.1

Analyse suggestions for adjustments or changes to marketing goals.

1.2

Develop strategic performance indicators to underpin marketing strategies by business unit or product area.

1.3

Formulate marketing guidelines by business unit or product area.

1.4

Differentiate market segments.

1.5

Develop new market entry strategies by market segment as required.

1.6

Collaboratively develop goals and performance indicators for a strategic marketing plan.

1.7

Identify key result areas and set key performance indicators for relevant components of the strategic marketing plan.

1.8

Determine resource requirements for a team to meet strategic marketing plan objectives or key performance indicators.

1.9

Ensure final strategic marketing plan conforms to, and assists achievement of, business and strategic planning objectives and projections.

2

Predict trends.

2.1

Monitor markets and analyse data according to marketing and business plans.

2.2

Prepare special market reports to agreed format, timing and level of detail.

2.3

Model and analyse market trends.

2.4

Anticipate market trends.

3

Position products and services to gain sustainable market advantage.

3.1

Develop market assessment measures to evaluate impact of forecasts on market demand.

3.2

Analyse future forecasts of market demand.

3.3

Analyse market position for the business in relation to major competitors.

3.4

Evaluate strategies best suited to enhance market advantages, within a product or service area, with particular reference to supply continuity, product and service mix, distribution, quality factors (e.g. time, cost, and variations), access and brand recognition.

3.5

Analyse potential competitors for the businesses' market position.

4

Maximise planning and monitoring frameworks.

4.1

Foster cooperation between different teams and operational areas to establish effective planning and monitoring frameworks for the marketing plan.

4.2

Coordinate meetings and incorporate input from internal and external stakeholders into the strategic marketing plan.

4.3

Set action plans and priorities for the strategic marketing plan.

4.4

Ensure opportunities and processes exist for informed decisions and adjustments to be made to marketing budgets and targets.

4.5

Manage development of the strategic marketing plan to meet the overall business planning cycle.

5

Implement the strategic marketing plan.

5.1

Develop policies and procedures for implementation and communication of strategic marketing plan.

5.2

Establish and apply approval process for amendment and replacement of key performance indicators within the strategic marketing plan.

5.3

Establish action planning processes and procedures.

5.4

Establish mechanisms to monitor, report and evaluate attainment of key performance indicators and key result areas.

5.5

Submit recommendations to improve information management, collection and analysis relating to strategic marketing plan implementation to relevant executive managers.

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:

achieve sustainable market positioning

set performance indicators

goal-setting, prediction of trends, coordination and development of marketing plan measuring trends and their impact on planned outcomes

set strategies that best advance specific products or services within a given market context and timeframe

identify and correctly use software and technology

awareness of relevant industrial or legislative requirements

recommend improvement to marketing plan, measures and planning processes

interpersonal communication skills to:

communication clearly and directly

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret non-verbal communication.

The following knowledge must be assessed as part of this unit:

techniques and procedures for researching (for goal-setting and performance indicators) and analysing key elements of a plan

positioning products for sustained market advantage

current market performance of a business and specific products and services

collection and organisation of appropriate information

business policy and procedures

planning techniques

team leadership and collaborative techniques

decision-making techniques

collaborative problem-solving strategies

approval processes and key personnel

OHS aspects of job

relevant commercial law and legislation.

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:

accesses and interprets reliable and current information to predict trends and set marketing goals

aligns marketing strategies and key performance indicators with strategic and business plans

develops and implements processes and mechanisms to monitor marketing strategies

utilises collaborative and consultative processes when developing a marketing plan

develops realistic plans for achieving sustainable market positioning for a service or product

completes an approved marketing strategy for a business service or product.

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

sales and service delivery targets and plans

records of sales

strategic plans

information on the internal and external operating environment

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

research reports

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.

Marketing goals may vary according to:

agreed procurement process

business culture

current market position

merchandise and product range

pricing, labelling and packaging requirements

product range.

Strategic performance indicators may relate to:

business unit, for example:

team

function

sales revenue

location

promotion frequency

product area, for example:

category

brand

market segment

brand recognition

distribution.

Marketing guidelines may vary to accommodate territory variations in:

business products or services

demographics

economics

competition

social and cultural factors

political influences

legal factors

natural factors

technology.

Market may be:

local

national

regional

international.

Resource requirements may include:

people

materials

equipment and technology

budget

time.

Team members may:

come from a variety of social, cultural or ethnic backgrounds

vary in literacy and numeracy skills

vary in competencies.

Strategic planning objectives may relate to:

technology

time management

standards of work

quality

quantity

human relations, personal development

legal issues

internal and external operating environments

implementation of policies and procedures

development and communication of ideas

development of product and service provision

problem solving

financial control and accounting

profits

management systems

inventory control

loss prevention.

Monitoring markets may include:

market information

market planning

market structure

market share

Methods used to analyse data may include:

qualitative

quantitative.

Modelling of market trends may take into account:

relevant business policy and procedures

relevant legislation and statutory requirements

type of products and services provided

size, type and location of business

business merchandise range

characteristics of specific products or services

customer demographics

customer confidence and expectations.

Market assessment may include:

structure of and 'players' in the market

market capability

market maturity

market strength

factors and conditions that affect supply

potential impact of intended contracting activity.

Internal and external stakeholders may include:

staff members

teams

management

other professional or technical staff

suppliers

relevant external consultants.

Mechanisms to monitor, report and evaluate results may include:

contact history

purchase requests and orders

tender submissions and proposals

invoices and payment requests

statements and petty cash vouchers

offer and contract documents

evaluation process documentation

records of supplier performance

financial statements.


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.