Unit of competency details

ACMHBR503 - Develop and implement a marketing plan for stud stock (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 29/Nov/2017

Usage recommendation:
Current

Training packages that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080505 Marketing  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080505 Marketing  14/Feb/2018 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version released with the ACM Animal Care and Management Training Package Version 1.0.

Application

This unit of competency describes the skills and knowledge required to analyse business and market conditions, develop a marketing plan, select stock for sale and evaluate outcomes of the marketing plan.

This unit is applicable to individuals who have specialised skills, technical and theoretical knowledge of the horse breeding sector, and management responsibilities for marketing stud stock for organisations.

No occupational licensing or certification requirements apply to this unit at the time of publication.

Work health and safety and animal welfare legislation relevant to interacting with horses applies to workers in this industry. Requirements vary between industry sectors and state/territory jurisdictions. Users are advised to check with the relevant authority for specific requirements.

NOTE: The terms 'occupational health and safety' (OHS) and 'work health and safety' (WHS) generally have the same meaning in the workplace. In jurisdictions where the national model WHS legislation has not been implemented, RTOs must contextualise the unit of competency by referring to current OHS legislative requirements.

Pre-requisite Unit

Nil

Unit Sector

Horse Breeding (HBR)

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. Evaluate commercial information applicable to the equine market

1.1 Research and analyse relevant information to identify market and economic trends

1.2 Identify and evaluate stud stock from other stud operations to determine strengths and weaknesses of own stock

1.3 Present collated information in a manner to provide clear and concise information

1.4 Conduct market and situation analysis using established techniques according to the available budget and the need for external assistance

1.5 Establish a risk management plan to counter factors influencing the profitability of a horse stud enterprise

2. Develop strategies to support marketing

2.1 Create promotional materials that enhance commercial presentation of stud stock

2.2 Identify all relevant legislation and codes of practice applicable to the sale of a horse

2.3 Record and communicate priorities, responsibilities and budget to relevant parties

3. Develop promotional strategies

3.1 Prepare and record detailed plans for promotional activities according to organisation procedures, and to reflect feedback received on earlier activities

3.2 Establish marketing objectives based on new and retained business consistent with stock held and strategic business plans

4. Organise implementation of the marketing plan

4.1 Establish criteria for the measurement of impact and success of promotional activities

4.2 Make adjustments to the promotional and distribution strategies promptly and as required to ensure success

5. Evaluate, select, draft and present horses for inspection prior to sale

5.1 Evaluate and select horses according to the strategic and marketing plans of the stud operation

5.2 Evaluate, select and organise horse drafts into appropriate marketing or sale categories and develop catalogue to reflect legislative requirements, representation and accurate documentation

5.3 Define and establish potential points for sale, potential clients and catalogue documentation required for each horse

5.4 Arrange sale details and advise relevant parties

5.5 Notify potential clients of inspection requirements to facilitate selection process and confirm locations and times for inspection

5.6 Obtain client feedback of horses selected for sale following inspection, and negotiate alternatives as appropriate

6. Complete and evaluate sales against the marketing plan

6.1 Arrange transport for horses to the sale site, ensuring safety and comfort of individual horses as well as meeting legislative and quarantine requirements and codes of practice applicable to horses in transit

6.2 Confirm final sales arrangements including sales orders and penning details, and the availability of particular horses for sale with potential clients according to previous agreements

6.3 Organise staff, skilled in safe horse handling techniques, to ensure horse allotments and catalogue schedules are maintained during the sale

6.4 Complete all paperwork associated with the sale, and arrange transport details

6.5 Evaluate results of the sale against the marketing plan in terms of profitability and success in achieving intended outcomes

6.6 Make recommendations in regard to modification of the marketing plan

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.

Skill 

Description 

Numeracy

  • Interpret, compare and consolidate numerical and financial information to determine budgets and sales estimates

Navigate the world of work

  • Work independently or with others in making decisions to achieve organisational marketing and sales outcomes
  • Ensure knowledge of legislative requirements and products is kept-up-to-date in order to provide accurate information

Interact with others

  • Follow business and industry communication protocols and practices for working with diverse groups

Get the work done

  • Use key features of workplace technology to access, organise, prepare and present information

Unit Mapping Information

Code and title current version 

Code and title previous version 

Comments 

Equivalence status 

ACMHBR503 Develop and implement a marketing plan for stud stock

Not applicable

New unit

No equivalent unit

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=b75f4b23-54c9-4cc9-a5db-d3502d154103

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version released with the ACM Animal Care and Management Training Package Version 1.0.

Performance Evidence

An individual demonstrating competency in this unit must satisfy all of the elements and performance criteria of this unit.

There must be evidence that the individual has developed and implemented at least one marketing plan of stud stock for an organisation, including:

  • analysing and researching information to develop a marketing plan
  • calculating data and managing budgets
  • evaluating bloodstock
  • evaluating performance targets and recommending modifications or improvements
  • implementing and evaluating a marketing plan
  • making presentations to groups
  • managing the transport of stud stock
  • planning and managing promotional activities
  • presenting stock for sale
  • researching and determining the best marketing options in order to achieve the objectives of the stud enterprise.

Knowledge Evidence

An individual must be able to demonstrate the knowledge required to perform the tasks outlined in the elements and performance criteria of this unit. This includes knowledge of:

  • conditions and regulations governing the sale of horses under Australian legislation
  • contract and Conditions of Sale, and legal responsibilities and role of the vendor
  • financial management and budgeting
  • horse values, breeds, classes, ages
  • policies and procedures of the organisation for marketing, promotion and sale of horses
  • principles and practices of sales and marketing
  • procedures for transporting and selling horses
  • risk management procedures
  • roles and legal responsibilities of the vendor and the purchaser of a horse in Australia
  • signage and display, private horse sales, official horse sales and auctions
  • types of promotional activities including advertising, public relations, familiarisation.

Assessment Conditions

Assessment of skills must take place under the following conditions:

  • physical conditions:
  • a workplace or an environment that accurately represents workplace conditions
  • resources, equipment and materials:
  • information about own stud and other stud products and services
  • organisational documentation and systems to complete and implement marketing plan
  • specifications:
  • staff and technology to implement marketing plan and sales activities.

Training and assessment strategies must show evidence of the use of guidance provided in the Companion Volume: User Guide: Safety in Equine Training.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=b75f4b23-54c9-4cc9-a5db-d3502d154103

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