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Evidence Guide: SIBXRES501A - Investigate new 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!

From the Wiki University

 

SIBXRES501A - Investigate new products and services

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

Analyse market.

  1. Identify workplace marketing and merchandising policies.
  2. Informally monitor client requirements in order to evaluate market trends and client needs.
  3. Monitor workplace product and service range to identify the demand for individual items and seasonal variations.
  4. Identify opportunities to improve sales and services.
  5. Research and identify potential new products and services, and evaluate supplierclaims, and potential safety risks and benefits for clients.
  6. Identify market competition.
Identify workplace marketing and merchandising policies.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Informally monitor client requirements in order to evaluate market trends and client needs.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor workplace product and service range to identify the demand for individual items and seasonal variations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify opportunities to improve sales and services.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research and identify potential new products and services, and evaluate supplierclaims, and potential safety risks and benefits for clients.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify market competition.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan product and service range.

  1. Assess the salon product and service range against workplace policies andprocedures, market analysis, sales performance, environmental impact and existing workplace skills and knowledge.
  2. Identify new techniques for sourcing service range based on research conducted.
  3. Identify workplace space requirements and optimum product or service mix according to the market analysis.
Assess the salon product and service range against workplace policies andprocedures, market analysis, sales performance, environmental impact and existing workplace skills and knowledge.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify new techniques for sourcing service range based on research conducted.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify workplace space requirements and optimum product or service mix according to the market analysis.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain supplier relations.

  1. Establish and maintain relationships with suppliers.
  2. Identify new and existing suppliers and update them according to performanceindicators and workplace requirements.
Establish and maintain relationships with suppliers.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify new and existing suppliers and update them according to performanceindicators and workplace requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate supply of goods.

  1. Negotiate and implement arrangements with suppliers according to workplace policies and procedures.
  2. Monitor stock and supplier records for accuracy and legibility and take appropriate required remedial action.
  3. Convey records of negotiations and agreements to appropriate personnel within designated time frames.
  4. Take immediate corrective action where potential or actual problems with supply are indicated.
  5. Analyse, evaluate and amend product range and source of supply according to management, staff and client feedback.
Negotiate and implement arrangements with suppliers according to workplace policies and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor stock and supplier records for accuracy and legibility and take appropriate required remedial action.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Convey records of negotiations and agreements to appropriate personnel within designated time frames.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take immediate corrective action where potential or actual problems with supply are indicated.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse, evaluate and amend product range and source of supply according to management, staff and client feedback.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor quality control.

  1. Establish merchandise quality standards with suppliers according to legalrequirements, minimal environmental impacts, client requirements and workplace policies and procedures.
  2. Monitor merchandise quality during supply and delivery process.
  3. Record stock return figures and analyse against target figures.
Establish merchandise quality standards with suppliers according to legalrequirements, minimal environmental impacts, client requirements and workplace policies and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor merchandise quality during supply and delivery process.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record stock return figures and analyse against target figures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Introduce product range.

  1. Inform staff of new product ranges and services, and implement relevant staff training.
  2. Demonstrate, promote and display new products and services to staff according to workplace merchandising plan.
Inform staff of new product ranges and services, and implement relevant staff training.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Demonstrate, promote and display new products and services to staff according to workplace merchandising plan.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maximise profit.

  1. Calculate or estimate individual product range contributions against budget targets.
  2. Develop product range assessment checks and implement against budget targets.
  3. Maximise profit margins in negotiation with suppliers.
  4. Determine workplace pricing policies for services and products according to stated net profit margin in workplace merchandising plan.
  5. Negotiate specifications for terms of trade.
Calculate or estimate individual product range contributions against budget targets.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop product range assessment checks and implement against budget targets.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maximise profit margins in negotiation with suppliers.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine workplace pricing policies for services and products according to stated net profit margin in workplace merchandising plan.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate specifications for terms of trade.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Rationalise stock.

  1. Update product range at regular intervals.
  2. Identify product lines to be deleted and take action to minimise adverse effects on profit.
  3. Consolidate stock as required to maximise sales potential.
Update product range at regular intervals.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify product lines to be deleted and take action to minimise adverse effects on profit.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consolidate stock as required to maximise sales potential.

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.

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

Evidence of the following is essential:

applying research skills to source, identify and evaluate new products, equipment and services, including:

product performance

organisational capability to use new technology

staff training costs

risks and benefits to clients

risks and benefits to the business

applying workplace policies and procedures in regard to:

market analysis

environmental impact controls

planning

procurement and rationalisation of product and service ranges

maintaining supplier relations, including:

negotiating supply of goods

rationalising stock

monitoring quality control

communicating product range information to team members.

Context of and specific resources for assessment

Assessment must ensure that:

that competency is consistently demonstrated over a period of time and observed by the assessor or the technical expert working in partnership with the assessor as described in the Assessment Guidelines

that competency is demonstrated in the workplace or a simulated workplace environment in a range of real workplace situations which may include client interruptions and involvement in other related activities normally expected in the workplace.

Assessment must ensure access to:

the internet

appropriate text and online resources

information on professional and retail products and suppliers

information regarding new products and equipment from a professional services range

relevant workplace documentation including:

manufacturer's equipment instructions

product instructions

manufacturer safety data sheets

workplace policies and procedures manuals

a range of clients with different product and service requirements.

For further guidance on the use of an appropriate simulated environment, refer to the Assessment Guidelines in this Training Package.

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 learners performing a range of tasks in an actual or simulated work environment, over sufficient time to demonstrate handling of a range of contingencies, including:

performing market analysis

negotiating supply of goods

rationalising stock

research reports, case studies, and written and oral questioning appropriate to the language and literacy level of the learner, to assess knowledge and understanding of investigating new products and services, including:

market analysis

product and equipment evaluation

quality standards

profit margins

completion of workplace documentation relevant to investigating new products and services procedures

third-party reports from technical experts

completion of self-paced learning materials, including personal reflection and feedback from a trainer, coach or supervisor.

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

SIBXPSM502A Manage treatment services and sales delivery.

Required Skills and Knowledge

Required skills

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

analytical skills to investigate products and services, including:

evaluation and analysis of market trends and projections

evaluation of supplier product claims

evaluation and analysis of sales figures and investment levels

evaluation and analysis of space requirements

problem-solving skills to negotiate with suppliers

planning and organising skills relevant to staff training

literacy skills to research, source, read, comprehend and apply relevant information to evaluate products and equipment relevant to the range of services that may be offered by the business

numeracy skills to cost and plan expenditure on new products and equipment

technical skills to safely use new products and equipment.

Required knowledge

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

workplace policies and procedures in regard to merchandising and marketing

legislation and statutory requirements, including consumer law, in regard to merchandising and marketing

policies and procedures in relation to investigation of products and services, including:

industry codes of practice

market needs

range of products and services available

methods for substantiating claims of product and equipment performance

legislative requirements for the safe application of new technologies

current and future stock levels

existing and possible new suppliers

salon quality control procedures and requirements

salon environmental control procedures and requirements

staff product training policies

profit requirements.

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.

Marketing and merchandising policies may include:

current market position

target markets

quality control policies and procedures

pricing, labelling and packaging requirements

net profit margin.

Client requirements may include:

price

quality

range.

Market trends may include:

popularity of new and emerging technologies

popularity of products with minimal environmental impact

increased demand for some products and services

decline of some services.

Product and service range may include:

new or existing stock

new or existing services

new techniques.

Opportunities to improve sales and services may include:

expansion of existing services

introduction of new services

increasing service capability through staff education and training

equipment upgrade

image update.

New products and services may include:

new generation hair reduction equipment, including:

intense pulsed light systems

laser systems

skin care products and equipment

nail care products and equipment

massage services

relaxation services.

Supplier claims must include:

substantiated research, such as:

objective technical methods

clinical testing

sensory analysis by trained panels or by consumers

consumer or market research

published and peer reviewed outcomes.

Market competition may include:

salons

day spas

private operators.

Workplace policies and procedures may include:

pricing/profit margins

product placement

supplier payment

client service

market analysis

planning, procurement and rationalisation of product and service ranges

maintenance of supplier relations

quality control

environmental impact controls.

New techniques may include:

new equipment

new products.

Relationships with suppliers may include:

face-to-face contact

correspondence

telephone or electronic contact.

Performance indicators may include:

price

quality

performance

supply reliability

product range.

Records may include:

hard copy

electronic.

Appropriate personnel may include:

staff

salon/store owner.

Source of supply may include:

local

interstate

overseas.

Legal requirements may include:

consumer law

inclusion or exclusion of goods and services tax (GST).

Merchandise quality may depend on:

damage

expiry date.

Terms of trade may include:

special buys

payment terms

promotional deals with suppliers

partnership promotions.