Release 

Comments 

Release 1

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

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

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

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

Release 

Comments 

Release 1

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