Unit of competency
Modification History
Not applicable.
Application
This unit describes the performance outcomes, skills and knowledge required to plan the development of new retail products. It requires the ability to generate product ideas suitable for a defined marketplace and prepare a design brief for production.
This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate with independence and are responsible for making a range of operational business decisions.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Pre-requisite Unit
Nil
Competency Field
Merchandise Management
Unit Sector
Retail
Elements and Performance Criteria
ELEMENTS |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Research product development opportunities. |
1.1. Access and review organisational merchandise objectives and direction. 1.2. Research and analyse the current marketplace and market trends to generate ideas for product development that align with organisational merchandise objectives and direction. 1.3. Review competitor product offerings to identify opportunities and risks in relation to product development. 1.4. Seek input from internal and external stakeholders to identify opportunities for product development and inform product concept. 1.5. Review opportunities for product development and identify product development options. |
2. Develop product concept. |
2.1. Complete product development costings to determine commercial viability of product development options. 2.2. Consider supply and sourcing arrangements to determine feasibility of product development. 2.3. Undertake conceptual testing to determine market responsiveness. 2.4. Document product concept and present to relevant stakeholders and make any required adjustments. 2.5. Seek approval for final product concept. |
3. Plan product development. |
3.1. Determine product range options, quantity and grading. 3.2. Identify critical path and required resourcing for product development. 3.3. Identify internal and external compliance requirements and undertake product development planning to ensure adherence. 3.4. Identify potential product development and supply issues and plan contingency strategies. 3.5. Plan product packaging and labelling needs and ensure compliance with packaging and labelling requirements. 3.6. Document a detailed product design brief for supplier tendering purposes. 3.7. Source supplier samples and provide feedback. 3.8. Determine suitable supply arrangements that meet product design brief and compliance requirements. 3.9. Ensure ethical and environmental sustainability of supply arrangements. 3.10. Finalise product development brief and communicate to relevant personnel. |
4. Review product performance. |
4.1. Review product sales performance and market receptiveness to determine product performance. 4.2. Review product development costings against performance to determine commercial viability of product. 4.3. Make recommendations for the continuation, alteration or deletion of product. |
Foundation Skills
Foundation skills essential to performance in this unit, but not explicit in the performance criteria, are listed here, along with a brief context statement. |
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SKILLS |
DESCRIPTION |
Numeracy skills to: |
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Technology skills to: |
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Unit Mapping Information
No equivalent unit.
Links
Companion Volume Implementation Guides - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d