Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to determine the optimum marketing mix for a business through analysis of inter related marketing components. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. |
Application of the Unit
Application of the unit |
This unit applies to individuals in marketing management roles responsible for developing the marketing and promotional mix within an organisation. They may also adjust the marketing mix when new marketing opportunities have been identified. The skills and knowledge required to evaluate and identify new market opportunities are covered in BSBMKG501B Identify and evaluate marketing opportunities. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
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. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Evaluate each component of the marketing mix |
1.1. Identify key characteristics of products or services and estimate their significance to the market 1.2. Review pricing policy and analyse pricing variables to determine their effect on demand 1.3. Analyse promotional methods to determine their importance to marketing outcomes 1.4. Review channels of distribution and estimate their significance in relation to marketing outcomes 1.5. Identify and analyse level of customer service provision to determine its significance to marketing outcomes 1.6. Identify potential customer base and key pressure points for success 1.7. Analyse and test the effect of the components of marketing mix on each other, and establish their relative importance to customer base |
2. Determine marketing mix for specific markets |
2.1. Identify and asses environmental factors for their impact on marketing mix 2.2. Identify consumer priorities , needs and preferences that affect marketing mix 2.3. Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning 2.4. Select marketing mix that best satisfies target market and meets marketing objectives 2.5. Ensure marketing mix decision meets organisational, strategic and operational marketing objectives |
3. Monitor and adjust marketing mix |
3.1. Monitor marketing mix against marketing performance and isolate components for testing 3.2. Evaluate implications of altering one or more components of marketing mix in relation to market factors and consumer response 3.3. Adjust components of marketing mix in response to test results and evaluation of market response 3.4. Ensure adjusted marketing mix meets budgetary requirements 3.5. Ensure adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives, and desired positioning |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure:
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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:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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Range Statement
RANGE STATEMENT |
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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. |
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Characteristics of products or services may include: |
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Pricing variables may include: |
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Promotional methods may include: |
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Marketing may include: |
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Channels of distribution may include: |
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Level of customer service may include: |
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Marketing mix may include: |
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Customer priorities , needs and preferences may include: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Business Development - Marketing |
Co-requisite units
Co-requisite units |
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