This unit involves identifying, evaluating and utilising position, promotion and pricing strategies to achieve agreed business outcomes, and recognising and communicating ways to improve market performance for a retail or wholesale product or service.

Nil

ELEMENT

PERFORMANCE CRITERIA

1

Analyse retail or wholesale product and service performance.

1.1

Analyse and review factors affecting category performance.

1.2

Analyse factors affecting range performance.

1.3

Analyse factors affecting product performance.

2

Assess retail or wholesale market position strategies.

2.1

Determine placement of product and service in the marketplace.

2.2

Review appropriateness of sales and marketing strategies given placement of product or service in marketplace.

3

Assess product and service promotion strategies.

3.1

Review promotional strategies for product and service.

3.2

Report recommendations to improve promotional programs to relevant personnel.

4

Develop competitive pricing structures.

4.1

Translate strategic guidelines for product or service price and performance into management benchmarks.

4.2

Ensure strategic targets for a product or service support enterprise marketing guidelines.

5

Implement retail or wholesale product and service plans.

5.1

Define market and individual customer needs.

5.2

Promote, distribute and sell retail or wholesale products and services to achieve market and business targets.

5.3

Achieve price, position and placement strategies for a retail or wholesale product or service.

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:

report recommendations through clear and direct communication

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret non-verbal communication

literacy and numeracy skills in regard to:

reading and understanding a range of workplace documentation

accessing and interpreting marketing and promotional information

generating reports

time management

strategising, planning and prioritising

collecting and organising information

analysing and evaluating information.

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

factors affecting product and service performance

principles and techniques in analysis, assessment, development and implementation of ideas

processes for defining market and customer needs

OHS aspects of job

relevant commercial law and legislation.

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:

determines market position of a product or service, and describes factors affecting market position

accesses and interprets enterprise strategic guidelines to develop competitive pricing strategies

describes factors affecting sales and market performance for a product or service to build market share over time

evaluates product or service performance across a range of category factors over time and reports recommendations to improve performance in agreed format.

Context of and specific resources for assessment

Assessment must ensure access to:

a sales-oriented work environment

relevant sources of product information

relevant documentation, such as:

policy and procedures manuals

sales reports

marketing guidelines

a range of products and services

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 performance in the workplace

third-party reports from a supervisor

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.

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.

Factors affecting category performance may include:

promotional activities

competitors' activities

partnerships

price

market share

growth

trends

brand performance.

Sales and marketing strategies may vary according to:

product or service

merchandising and sales strategy

sales outcomes

promotional strategies and their duration, cycle, territory coverage and product or service focus.

Promotional strategies may include consideration of:

timing of promotion

promotion type (event, seasonal, new lines, new outlet)

supply volume requirements

planning times and cycles.

Reports may be delivered:

verbally

in writing

in groups

individually.

Relevant personnel may include:

manager or supervisor

colleagues

business or area manager

marketing personnel

external personnel with marketing expertise.

Market and individual customer needs may vary according to:

demographics

economics

competition

social and cultural factors

political influences

legal factors

natural factors

technology.

Market and business targets may be measured against:

key performance indicators

strategic objectives

market and sales indicators

brand value

quality standards and criteria

performance benchmarks

milestones.

Sector

Cross-Sector

Product Management

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.