Unit of competency details
SIRXMKT005 - Develop a marketing strategy (Release 1)
Summary
Usage recommendation:
Current
Releases:
| 1 1 (this release) |
31/Mar/2016 |
Companion volumes:
Unit of competency
Assessment requirements
Training packages that include this unit
Qualifications that include this unit
Classifications
Classification history
| ASCED Module/Unit of Competency Field of Education Identifier | 080505 | Marketing | 09/Aug/2016 | |
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Unit of competency
Modification History
Not applicable.
Application
This unit describes the performance outcomes, skills and knowledge required to analyse the operating environment and use results to develop, implement and review a marketing strategy.
This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate independently and are responsible for making a range of operational business decisions and strategic planning.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Pre-requisite Unit
Nil
Competency Field
Marketing
Unit Sector
Cross-Sector
Elements and Performance Criteria
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ELEMENTS
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PERFORMANCE CRITERIA
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Elements describe the essential outcomes.
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Performance criteria describe the performance needed to demonstrate achievement of the element.
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1. Analyse internal environment.
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1.1.Review existing organisational marketing strategy and current organisational direction and objectives.
1.2.Identify and analyse information on current and past marketing strategies and their outcomes.
1.3.Consult with stakeholders on current and future marketing direction of the organisation and seek their input.
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2. Analyse the external environment.
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2.1.Research current marketing trends and determine trends relevant to organisational objectives and strategic marketing direction.
2.2.Identify and analyse information on expected market growth or decline, and associated risk factors.
2.3.Identify and analyse legal, ethical and sustainability requirements and potential business impacts.
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3. Develop marketing strategy and plan.
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3.1.Identify and analyse marketing opportunities based on internal and external analysis.
3.2.Develop marketing strategies that are consistent with direction and objectives of the organisation.
3.3.Develop strategies in consultation with key stakeholders, integrating legal, ethical and sustainability considerations.
3.4.Develop and document a marketing plan outlining priorities, responsibilities, performance indicators, timelines and budgets.
3.5.Communicate marketing strategy and plans to relevant personnel and seek required approval.
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4. Implement marketing plan.
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4.1.Implement and monitor marketing activities according to marketing plan.
4.2.Produce marketing reports according to organisational policy.
4.3.Share information on marketing activities with relevant personnel to maintain awareness of current organisational focus.
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5. Review marketing plan.
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5.1.Evaluate marketing activities against performance indicators to determine effectiveness of strategy and plan.
5.2.Make adjustments to marketing strategy and plan based on findings.
5.3.Communicate and implement agreed changes.
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Foundation Skills
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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
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DESCRIPTION
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Reading skills to:
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- research complex and potentially unfamiliar business and marketing information.
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Writing skills to:
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- prepare marketing plans and reporting.
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Initiative and enterprise skills to:
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- set strategies that best that achieve desired outcomes within a given market context and timeframe.
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Teamwork skills to:
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- foster cooperation between individuals and teams.
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Planning and organising skills to:
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- coordinate complex planning and implementation processes.
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Unit Mapping Information
No equivalent unit.
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d
Assessment requirements
Modification History
Not applicable.
Performance Evidence
Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:
- determine a marketing strategy and develop a marketing plan for a product or service by:
- researching and analysing internal and external business environments relevant to the product or service
- developing and implementing a marketing plan that details:
- priorities
- responsibilities
- performance indicators
- timelines
- budgets.
- evaluate the above marketing strategy and plan against performance indicators and report on overall effectiveness of marketing strategy.
Knowledge Evidence
Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:
- aspects of legal issues that impact on marketing activities:
- Australian Consumer Law
- copyright and intellectual property considerations
- the Privacy Act 1988
- specific issues arising from use of new technologies
- data collection tools and research methodologies as relevant to strategic marketing planning
- marketing planning techniques and formats and key features of a marketing plan
- internal and external issues that impact on market planning relevant to industry
- internal capabilities and resource considerations as relevant to marketing strategy and planning
- comparative market information relevant to marketing strategies:
- benchmarking
- best practice information
- competitor information
- industry marketing and distribution networks in the relevant context
- new and innovative marketing strategies in the relevant industry
- marketing performance indicators:
- exposure achieved
- sales achieved
- penetration of target market
- cost-effectiveness
- recommendations for strategic responses based on evaluation.
- ethical considerations for marketing:
- appropriate use of images and text
- codes of practice
- protection of children
- targeting of particular groups in the community
- sustainability considerations, opportunities and constraints for marketing in the relevant context, and those related to:
- cultural and social sustainability
- economic sustainability of marketing initiatives
- resource conservation and waste minimisation.
Assessment Conditions
Skills must be demonstrated in an operational business operation or activity. This can be:
- an industry workplace
- a simulated industry environment.
Assessment must ensure access to:
- current documentation outlining aspects of legal issues that impact on marketing activities as described in the Knowledge Evidence
- product or service for which market planning can be undertaken
- existing organisational marketing strategy and plans
- sources of information on internal and external operating environments
- stakeholders with whom the individual can interact; these can be:
- individuals in an industry workplace, or
- individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry.
Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d
