Unit of competency details

BSBMKG502 - Establish and adjust the marketing mix (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBMKG502B - Establish and adjust the marketing mixUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIS10 - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 3.1 
SIS - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 2.0-2.1 
HLT - HealthHealth 2.0-3.1 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-2.0 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 1.0-2.2 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
SIS50612 - Diploma of Sport DevelopmentDiploma of Sport Development 
SIS50115 - Diploma of Sport and Recreation ManagementDiploma of Sport and Recreation Management 
HLT57715 - Diploma of Practice ManagementDiploma of Practice Management 
CUA60213 - Advanced Diploma of Live Production and Management ServicesAdvanced Diploma of Live Production and Management Services 
CUA50815 - Diploma of Music IndustryDiploma of Music Industry 
CUA50415 - Diploma of Live Production and Technical ServicesDiploma of Live Production and Technical Services 
BSB52415 - Diploma of Marketing and CommunicationDiploma of Marketing and Communication 
BSB51215 - Diploma of MarketingDiploma of Marketing 
BSB50215 - Diploma of BusinessDiploma of Business 
BSB50115 - Diploma of AdvertisingDiploma of Advertising 
Items per page 10 | 20 | 50 | 100
Displaying items 1 - 10 of 12

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 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

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 determine the optimum marketing mix for a business through analysis of interrelated marketing components.

It applies to individuals in marketing management roles who are responsible for developing marketing and promotional mix within an organisation. They may also adjust the marketing mix when new marketing opportunities are identified.

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. Evaluate each component of 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 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

1.7 Analyse and test effect of 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 assess environmental factors, and their impact on marketing mix

2.2 Identify consumer priorities, needs and preferences affecting 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 market-response evaluation

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

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

1.1-1.7, 2.1-2.5, 3.1-3.5

  • Evaluates and comprehends textual information from a range of sources

Writing

1.1-1.7, 2.1-2.3, 3.1, 3.2

  • Documents results of analysis of marketing mix
  • Presents analysis results in required format

Numeracy

1.2, 3.2, 3.4

  • Evaluates financial and marketing data using whole numbers, decimals and percentages to make accurate calculations

Navigate the world of work

2.5, 3.5

  • Monitors adherence to organisational policies and procedures and considers own role in terms of its contribution to broader goals of work environment

Get the work done

1.1-1.7, 2.1, 2.2-2.5, 3.1-3.5

  • Develops plans to manage relatively complex tasks with an awareness of how they may contribute to longer-term operational and strategic goals
  • Makes decisions by systematically analysing information, identifying and evaluating options against set criteria, and choosing most appropriate option
  • Evaluates outcomes of decisions to identify any required adjustments

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBMKG502 Establish and adjust the marketing mix

BSBMKG502B Establish and adjust the marketing mix

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.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:

  • report on activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:
  • customer service levels
  • product or service distribution
  • product or service pricing
  • additional products or services, if any
  • product or service promotion
  • report on success of marketing mix activities developed, including coverage of any necessary adjustments made.

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:

  • outline organisational policies, procedures, products and services related to marketing
  • describe principles and concepts of marketing such as consumer or buyer behaviour and elements of marketing mix
  • outline and explain statistical techniques used to gather and analyse marketing information.

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:

  • office equipment and resources
  • organisational and marketing strategic plans
  • 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.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

Training component details
The following details are displayed for each different NRT:-

Training packages

- Training package details
- Training package components

Qualifications

- Qualification details
- Qualification components

Accredited courses

- Accredited course details

Modules

- Module details

Units of competency

- Units of competency details
- Unit components

Skill sets

- Skill set details
- Skill set components

Click on the Export link to export the NRT information to MS Word or PDF.

Click on the Manage notification link to create or change a notification for this NRT.

When selecting the Display history check box a set of tables will appear displaying a log of historical values describing what has changed and when over time.

If you have access to make changes to an NRT, click on the Edit link on the upper right hand side of the summary box.