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Evidence Guide: BSBMKG611A - Manage measurement of marketing effectiveness

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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BSBMKG611A - Manage measurement of marketing effectiveness

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

Prepare for implementation of a strategy to measure marketing effectiveness

  1. Review current marketing strategies and marketing plans and research a range of metrics available to measure effectiveness of relevant marketing processes and functions
  2. Analyse effectiveness of current marketing metrics used by the organisation in each key marketing operation
  3. Critically analyse how existing marketing metrics link to strategy and opportunities to improve the links
  4. Plan to address any issues with the use of marketing metrics within the organisation
  5. Design criteria for retaining existing marketing metrics and for selecting new manageable and cost-effective metrics
  6. Gain approval for the design or redesign of the strategy from senior management
Review current marketing strategies and marketing plans and research a range of metrics available to measure effectiveness of relevant marketing processes and functions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse effectiveness of current marketing metrics used by the organisation in each key marketing operation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Critically analyse how existing marketing metrics link to strategy and opportunities to improve the links

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan to address any issues with the use of marketing metrics within the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design criteria for retaining existing marketing metrics and for selecting new manageable and cost-effective metrics

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Gain approval for the design or redesign of the strategy from senior management

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design strategy to measure marketing effectiveness

  1. Set objectives for the measurement and evaluation of marketing effectiveness
  2. Select methods to measure marketing performance for each marketing process or function, tailored to the organisation's brand or unique positioning
  3. Calculate costs of gathering and analysing data with the assistance of relevant financial experts
  4. Design and record the implementation strategy for measuring and analysing marketing performance, or make recommendations for improving current strategy
Set objectives for the measurement and evaluation of marketing effectiveness

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select methods to measure marketing performance for each marketing process or function, tailored to the organisation's brand or unique positioning

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate costs of gathering and analysing data with the assistance of relevant financial experts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design and record the implementation strategy for measuring and analysing marketing performance, or make recommendations for improving current strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage, implement and evaluate the strategy to measure marketing effectiveness

  1. Design and implement an appropriate communication and training strategy, so that marketing and other relevant personnel fully understand their role in measuring marketing effectiveness
  2. Supervise the design and implementation of specific metrics
  3. Plan and monitor work activity to ensure adherence to strategy for measurement of marketing effectiveness
  4. Design process to review and evaluate marketing metrics on a regular basis and if organisational strategy changes
Design and implement an appropriate communication and training strategy, so that marketing and other relevant personnel fully understand their role in measuring marketing effectiveness

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Supervise the design and implementation of specific metrics

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan and monitor work activity to ensure adherence to strategy for measurement of marketing effectiveness

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design process to review and evaluate marketing metrics on a regular basis and if organisational strategy changes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

design of a strategy for measuring marketing performance which includes:

objectives

metrics

costs

implementation strategy

evaluation strategy

choice, design and implementation of specific chosen metrics as required by strategy

design of a training program for relevant personnel about their role in measuring marketing effectiveness.

Context of and specific resources for assessment

Assessment must ensure access to:

a workplace or simulated work environment

relevant workplace documents and data, in particular data already collected to measure marketing effectiveness

office equipment and resources, including appropriate software.

Method of assessment

The following assessment methods are appropriate for this unit:

review of portfolio of evidence of actions taken to produce a strategy to measure marketing performance

oral or written questioning to assess:

actions taken to produce the strategy to measure marketing performance

knowledge of marketing metrics and their uses for different phases of the marketing process and for different marketing outcomes

analysis of responses to case studies and scenarios around marketing metrics

demonstration of a training strategy for relevant personnel to introduce them to the use of the marketing metrics.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.

Required Skills and Knowledge

Required skills

communication skills to:

train staff

write and present complex reports to key decision makers

learning skills to review and evaluate marketing metrics in order to contribute to operational outcomes

numeracy skills to:

analyse marketing data

calculate cost-effectiveness of collecting and analysing data

design and review metrics

planning and organising skills to:

plan and implement a strategy to measure marketing performance

plan work activities

problem-solving skills to devise solutions to issues with the use of marketing metrics

technology skills for research and data analysis

Required knowledge

factors to consider in designing and implementing a communication and training strategy

range of marketing functions within an organisation

range of marketing metrics and their usefulness in measuring key marketing operations

relationship between marketing metrics and the need for marketing directors, chief financial officers, chief executive officers and board members to be able to monitor marketing performance

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 candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Metrics may include:

accounting and financial outcomes

brand equity, such as:

availability

brand perception

familiarity

loyalty and retention

penetration

brand value

competition

customer databases

customer acquisition, satisfaction, retention, value and loss

communications and effectiveness

e-metrics, such as:

hits

page views

visits

inventory efficiency and effectiveness

market performance by customer and product

market share

overall sales

return on marketing investment in market-based assets

sales force effectiveness

share of mind

share of voice

share of wallet

shareholder value.

Marketing processes and functions may include:

advertising

direct marketing

distribution

e-marketing

loyalty programs

market research

marketing communications

pricing

product development, including pre- and post-launch

sales force.

Issues may include:

cost of obtaining meaningful information

differences in treatment of intangible assets in financial statements

frequency of measurement

level of management that reviews the metrics

skill of marketing personnel in terms of measurement

volume of data to be analysed.

Criteria may include:

costs (money and time) involved in measuring

possible benefits of measurement

risks if measurement does not occur

whether they are:

cost-effective

precise and sensitive to change

predictive, e.g. of future customer purchase, retention and cash flow

relevant to the organisation's strategy and context

reliable over time so trends can be tracked.