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Evidence Guide: AHCBUS502 - Market products and services

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

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AHCBUS502 - Market products and services

What evidence can you provide to prove your understanding of each of the following citeria?

Analyse market information

  1. Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data
  2. Analyse past trends and developments to determine market variability and associated risks
  3. Develop gross margin budgets to account for market variability
  4. Identify and evaluate competing products to determine strengths and weaknesses of own products
  5. Monitor market environment to ensure information is current and reliable
  6. Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise
  7. Identify product specifications that suit market requirements and price advantage at the time
  8. Present clear and concise information to the enterprise management team
Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Analyse past trends and developments to determine market variability and associated risks

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop gross margin budgets to account for market variability

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and evaluate competing products to determine strengths and weaknesses of own products

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Monitor market environment to ensure information is current and reliable

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify product specifications that suit market requirements and price advantage at the time

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Present clear and concise information to the enterprise management team

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and evaluate factors to include in a marketing plan

  1. Identify and evaluate production processes to ensure required product specifications are met
  2. Identify and assess alternative selling strategies and techniques to identify marketing targets and methods
  3. Identify and assess distribution channels and their role in your marketing strategies
  4. Ensure the data used is reliable and the market environment and trends are substantiated
  5. Evaluate the role of marketing professionals in providing advice
Identify and evaluate production processes to ensure required product specifications are met

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and assess alternative selling strategies and techniques to identify marketing targets and methods

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify and assess distribution channels and their role in your marketing strategies

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Ensure the data used is reliable and the market environment and trends are substantiated

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Evaluate the role of marketing professionals in providing advice

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop a marketing plan for your products and services

  1. Establish marketing objectives based on current and potential product specifications
  2. Select appropriate production processes to ensure product specifications are met
  3. Select selling strategies to ensure required prices are achieved
  4. Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately
  5. Establish time-frames for production, distribution and selling activities
  6. Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan
  7. Develop partial gross margin budgets to account for market variability
Establish marketing objectives based on current and potential product specifications

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Select appropriate production processes to ensure product specifications are met

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Select selling strategies to ensure required prices are achieved

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Establish time-frames for production, distribution and selling activities

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop partial gross margin budgets to account for market variability

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Determine promotional strategies

  1. Prepare and record detailed plans for promotional activities
  2. Outline objectives, level of exposure and available markets
  3. Ensure strategies take account of time management and scheduling issues, and resource constraints
  4. Create promotional materials that enhance the product and commercial presentation
  5. Record and communicate priorities, responsibilities, timelines and budgets for promotional activities
Prepare and record detailed plans for promotional activities

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Outline objectives, level of exposure and available markets

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Ensure strategies take account of time management and scheduling issues, and resource constraints

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Create promotional materials that enhance the product and commercial presentation

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Record and communicate priorities, responsibilities, timelines and budgets for promotional activities

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement marketing activities

  1. Schedule planned marketing activities within appropriate timeframes
  2. Develop measurable performance targets that meet business plan objectives
  3. Organise distribution channels and ensure product and service information is accurate and readily available to clients
  4. Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements
Schedule planned marketing activities within appropriate timeframes

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Develop measurable performance targets that meet business plan objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Organise distribution channels and ensure product and service information is accurate and readily available to clients

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Evaluate marketing performance

  1. Review the established marketing objectives to ensure they remain viable
  2. Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives
  3. Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements
  4. Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas
  5. Document and distribute information for continual analysis and effective planning management
Review the established marketing objectives to ensure they remain viable

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Document and distribute information for continual analysis and effective planning management

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Analyse market information

1.1 Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data

1.2 Analyse past trends and developments to determine market variability and associated risks

1.3 Develop gross margin budgets to account for market variability

1.4 Identify and evaluate competing products to determine strengths and weaknesses of own products

1.5 Monitor market environment to ensure information is current and reliable

1.6 Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise

1.7 Identify product specifications that suit market requirements and price advantage at the time

1.8 Present clear and concise information to the enterprise management team

2. Identify and evaluate factors to include in a marketing plan

2.1 Identify and evaluate production processes to ensure required product specifications are met

2.2 Identify and assess alternative selling strategies and techniques to identify marketing targets and methods

2.3 Identify and assess distribution channels and their role in your marketing strategies

2.4 Ensure the data used is reliable and the market environment and trends are substantiated

2.5 Evaluate the role of marketing professionals in providing advice

3. Develop a marketing plan for your products and services

3.1 Establish marketing objectives based on current and potential product specifications

3.2 Select appropriate production processes to ensure product specifications are met

3.3 Select selling strategies to ensure required prices are achieved

3.4 Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately

3.5 Establish time-frames for production, distribution and selling activities

3.6 Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan

3.7 Develop partial gross margin budgets to account for market variability

4. Determine promotional strategies

4.1 Prepare and record detailed plans for promotional activities

4.2 Outline objectives, level of exposure and available markets

4.3 Ensure strategies take account of time management and scheduling issues, and resource constraints

4.4 Create promotional materials that enhance the product and commercial presentation

4.5 Record and communicate priorities, responsibilities, timelines and budgets for promotional activities

5. Implement marketing activities

5.1 Schedule planned marketing activities within appropriate timeframes

5.2 Develop measurable performance targets that meet business plan objectives

5.3 Organise distribution channels and ensure product and service information is accurate and readily available to clients

5.4 Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements

6. Evaluate marketing performance

6.1 Review the established marketing objectives to ensure they remain viable

6.2 Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives

6.3 Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements

6.4 Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas

6.5 Document and distribute information for continual analysis and effective planning management

Required Skills and Knowledge

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Analyse market information

1.1 Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data

1.2 Analyse past trends and developments to determine market variability and associated risks

1.3 Develop gross margin budgets to account for market variability

1.4 Identify and evaluate competing products to determine strengths and weaknesses of own products

1.5 Monitor market environment to ensure information is current and reliable

1.6 Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise

1.7 Identify product specifications that suit market requirements and price advantage at the time

1.8 Present clear and concise information to the enterprise management team

2. Identify and evaluate factors to include in a marketing plan

2.1 Identify and evaluate production processes to ensure required product specifications are met

2.2 Identify and assess alternative selling strategies and techniques to identify marketing targets and methods

2.3 Identify and assess distribution channels and their role in your marketing strategies

2.4 Ensure the data used is reliable and the market environment and trends are substantiated

2.5 Evaluate the role of marketing professionals in providing advice

3. Develop a marketing plan for your products and services

3.1 Establish marketing objectives based on current and potential product specifications

3.2 Select appropriate production processes to ensure product specifications are met

3.3 Select selling strategies to ensure required prices are achieved

3.4 Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately

3.5 Establish time-frames for production, distribution and selling activities

3.6 Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan

3.7 Develop partial gross margin budgets to account for market variability

4. Determine promotional strategies

4.1 Prepare and record detailed plans for promotional activities

4.2 Outline objectives, level of exposure and available markets

4.3 Ensure strategies take account of time management and scheduling issues, and resource constraints

4.4 Create promotional materials that enhance the product and commercial presentation

4.5 Record and communicate priorities, responsibilities, timelines and budgets for promotional activities

5. Implement marketing activities

5.1 Schedule planned marketing activities within appropriate timeframes

5.2 Develop measurable performance targets that meet business plan objectives

5.3 Organise distribution channels and ensure product and service information is accurate and readily available to clients

5.4 Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements

6. Evaluate marketing performance

6.1 Review the established marketing objectives to ensure they remain viable

6.2 Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives

6.3 Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements

6.4 Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas

6.5 Document and distribute information for continual analysis and effective planning management

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

collect, analyse and present data in the internal and external business environment

identify the marketable features of the product and potential markets

assess alternative marketing strategies and techniques to meet business plan objectives

evaluate performance targets and recommend modifications or improvements

plan, implement and evaluate a marketing strategy

plan to manage promotional activities

develop and manage budgets

monitor product, pricing and distribution policies to improve market performance.

The candidate must demonstrate knowledge of:

financial management and budgeting

price risk management

performance evaluation measures

competitors strengths and weaknesses

business planning process

customer relations policies

market conditions and forces

enterprise goals, objectives and directions

markets and market analysis

communication and promotion skills

sales and marketing principles and practices

principles of trend analysis

legal issues that affect marketing activities (trade practices, Fair Trading Acts, Sales of Goods Acts)

industry and marketing knowledge including sales networks and distribution systems, and customer trends and preferences

demographic studies and their application in the development of a marketing plan.

Range Statement