Application
This unit applies to management and senior staff responsible for applying strategies to sustain and grow retail or wholesale businesses.
Prerequisites
Nil
Elements and Performance Criteria
Element | Performance Criteria |
Elements describe the essential outcomes of a unit of competency. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
1. Analyse retail or wholesale product and service performance. | 1.1.Review and analyse factors affecting category performance and identify potential for improvement. 1.2.Analyse factors affecting range performance and identify potential for improvement. 1.3.Analyse factors affecting product performance and identify potential for improvement. |
2. Assess retail or wholesale market position strategies. | 2.1.Determine placement of product or service in the marketplace. 2.2.Review appropriateness of sales and marketing strategies given placement of product or service in marketplace, and identify potential for improvement. |
3. Assess product and service promotion strategies. | 3.1.Review promotional strategies for products or services and identify potential for improvement. 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 that strategic targets for products or services support enterprise marketing guidelines. |
5. Implement retail or wholesale product and service plans. | 5.1.Analyse and identify market and individual customer needs. 5.2.Promote, distribute and sell retail or wholesale products or services to achieve market and business targets. 5.3.Achieve price, position and placement strategies for a retail or wholesale product or service. |
Required Skills
Required skills |
communication and interpersonal skills to: ask questions to identify and confirm requirements report recommendations through clear and direct communication use and interpret non-verbal communication use language and concepts appropriate to cultural differences literacy and numeracy skills to: access and interpret marketing and promotional information analyse and evaluate information generate reports read a range of workplace documentation initiative and enterprise skills to strategise, plan and prioritise planning and organising skills to collect and organise information |
Required knowledge |
factors affecting product and service performance work health and safety (WHS) requirements relating to job role organisational marketing guidelines that inform the development of product and service plans organisational scope of business, mission, values and goals principles and techniques in analysis, assessment, development and implementation of ideas processes for defining market and customer needs |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the 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 retail 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. |
Method 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 written or verbal questioning to assess knowledge and understanding review of portfolios of evidence and third-party workplace reports of on-the-job performance. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended. |
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, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the individual, accessibility of the item, and local industry and regional contexts) may also be included. | |
Factors affecting category performance may include: | brand performance competitors’ activities growth market share partnerships price promotional activities trends. |
Sales and marketing strategies may vary according to: | merchandising and sales strategy product or service promotional strategies and their duration, cycle, territory coverage, and product or service focus sales outcomes. |
Promotional strategies may include consideration of: | planning times and cycles promotion type, including: events seasonal promotions new lines new outlets supply volume requirements timing of promotion. |
Reports may be delivered: | in groups in writing individually verbally. |
Relevant personnel may include: | business or area manager colleague external personnel with marketing expertise supervisor marketing personnel. |
Market and individual customer needs may vary according to: | competition demographics economics legal factors natural factors political influences social and cultural factors technology. |
Market and business targets may be measured against: | brand value key performance indicators market and sales indicators milestones performance benchmarks quality standards and criteria strategic objectives, such as increased sustainability. |
Sectors
Cross-Sector
Employability Skills
This unit contains employability skills.
Licensing Information
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.