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Unit of competency details

BSBMKG401 - Profile the market (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBMKG401B - Profile the marketUpdated to meet Standards for Training Packages 24/Mar/2015
Is superseded by BSBMKG431 - Assess marketing opportunities 18/Oct/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 25/Mar/2015


Training packages that include this unit

CodeSort Table listing Training packages that include this unit by the Code columnTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIR - Retail Services Training PackageRetail Services Training Package 1.0-5.0 
ICP - Printing and Graphic ArtsPrinting and Graphic Arts 1.0-4.0 
CPP07 - Property Services Training PackageProperty Services Training Package 14.4-14.6 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 3.0-5.0 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0-4.1 
PUA - Public SafetyPublic Safety 1.0-1.1 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-6.1 
SIT - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-1.2 

Qualifications that include this unit

CodeSort Table listing Qualifications that include this unit by the Code columnTitleSort Table listing Qualifications that include this unit by the Title columnRelease
BSB40115 - Certificate IV in AdvertisingCertificate IV in Advertising
SIT50416 - Diploma of Hospitality ManagementDiploma of Hospitality Management
AHC40716 - Certificate IV in Retail NurseryCertificate IV in Retail Nursery3-4 
SIR30216 - Certificate III in RetailCertificate III in Retail1-4 
BSB42415 - Certificate IV in Marketing and CommunicationCertificate IV in Marketing and Communication1-2 
BSB30515 - Certificate III in Business Administration (International Education)Certificate III in Business Administration (International Education)1-4 
ICP50120 - Diploma of Printing and Graphic Arts Business ManagementDiploma of Printing and Graphic Arts Business Management
ICP50115 - Diploma of Printing and Graphic ArtsDiploma of Printing and Graphic Arts1-3 
SIT50116 - Diploma of Travel and Tourism ManagementDiploma of Travel and Tourism Management
SIT60316 - Advanced Diploma of Hospitality ManagementAdvanced Diploma of Hospitality Management
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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  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to profile a target market or market segments in accordance with a marketing plan and to develop market positioning strategies.

It applies to individuals working in a variety of marketing communications occupational roles who have responsibility for a range of tasks involving analysis and planning.

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

Unit Sector

Business Development – Marketing

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Segment market

1.1 Identify criteria for use in segmenting market in accordance with marketing plan

1.2 Identify and access sources of information for segmenting and profiling markets in accordance with marketing plan

1.3 Segment market in accordance with identified criteria

1.4 Review market segments for their usefulness in terms of factors such as their size, potential, distinctive needs, easy identification of members or distinctive media use patterns

1.5 Select market segments to meet marketing objectives, and choose and apply new segmentation criteria if required

2. Identify target market

2.1 Evaluate approaches to determining and describing total market for a product or service

2.2 Define target market in terms of consumers to be included as prospective users of a product or service, and selected market segments

2.3 Use segment descriptors to describe target market

2.4 Identify available strategic marketing options and select targeting strategies that best meet requirements of the marketing plan

3. Profile target audience

3.1 Describe total market and selected market segments using a consumer profile

3.2 Identify consumer characteristics in standard statistical terms and/or descriptive terms used in media selection in consumer profile

3.3 Use demographic and/or psychographic descriptions in consumer profile in accordance with requirements of the marketing plan

3.4 Describe consumer attitudes to products or services being offered

3.5 Ensure profile meets organisational requirements of language, format, content and level of detail

4. Develop positioning strategy

4.1 Identify available positioning strategies and choose a strategy to meet marketing requirements and consumer profile

4.2 Write a positioning implementation plan containing several options, in accordance with organisational requirements

4.3 Submit plan to supervisor within specified timelines and make appropriate adjustments based on feedback

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance Criteria 

Description 

Reading

1.1-1.4, 2.1, 2.2, 2.4, 3.2, 3.3, 4.1

  • Gathers, interprets and analyses a variety of textual information from a range of sources to identify relevant and key information

Writing

1.3, 2.2, 2.3, 3.1-3.5, 4.2, 4.3

  • Prepares strategic business documentation incorporating appropriate vocabulary, grammatical structure and conventions appropriate to text and audience

Numeracy

1.1-1.5, 2.1, 2.2, 2.4, 3.2, 3.3

  • Uses mathematical skills to interpret and process data and statistical information

Navigate the world of work

1.1, 1.2, 1.5, 2.4, 3.3, 3.5, 4.1, 4.2

  • Adheres to implicit and explicit organisational goals, policies and procedures

Interact with others

4.3

  • Selects appropriate form, channel and mode of communication for a specific purpose relevant to own role

Get the work done

1.2-1.5, 2.1, 2.4, 4.1-4.3

  • Develops and implements plans to manage relatively complex, non-routine tasks with an awareness of how they contribute to organisational goals
  • Makes decisions by systematically analysing information, identifying and evaluating options against set criteria, and choosing most appropriate option

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBMKG401 Profile the market

BSBMKG401B Profile the market

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • develop a market positioning strategy that documents market segmentation, consumer profiling, targeting and strategies relevant to a product or service being offered to the marketplace.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • identify relevant information relating to the Australian Marketing Institute Code of Professional Conduct
  • outline requirements of legislation affecting marketing roles
  • explain data collection and analysis techniques
  • outline relevant industry knowledge including:
  • components of marketing mix
  • elements of marketing planning
  • explain marketing communications concepts and processes
  • identify organisational structures, roles, responsibilities, business and marketing plans
  • demonstrate knowledge of relevant product and service standards and best practice models
  • outline relevant statistical terms used by the Australian Bureau of Statistics.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the business development – marketing field of work and include access to:

  • relevant legislation, regulations, standards and codes
  • relevant workplace documentation and resources
  • case studies and, where possible, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10