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Unit of competency details

BSBMKG522A - Plan measurement of marketing effectiveness (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to BSBMKG522 - Plan measurement of marketing effectivenessUpdated to meet Standards for Training Packages 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 10/Mar/2009

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  03/Aug/2011 
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Modification History

Not applicable.

Unit Descriptor

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to identify, plan and promote a strategy to measure the effectiveness of marketing activities using a range of marketing metrics.

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

Application of the Unit

Application of the unit 

This unit applies to individuals working in a marketing operations or supervisory role within a marketing team responsible for the use and reporting on measurements of marketing effectiveness. They may work in small, medium or large enterprises and in a variety of industries.

Licensing/Regulatory Information

Not applicable.

Pre-Requisites

Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

1. Identify and analyse measurement of marketing effectiveness

1.1. Research a range of metrics  available to identify the effectiveness of marketing processes and functions 

1.2. Identify marketing metrics used by the organisation in each key marketing operation

1.3. Identify how existing marketing metrics link to organisational strategy and objectives, and opportunities to improve the links

1.4. Analyse the effectiveness of current and possible future marketing metrics

1.5. Identify issues  with the use of marketing metrics within the organisation

2. Develop the strategy to measure marketing effectiveness

2.1. Identify the organisation's criteria  for selecting manageable and cost-effective metrics

2.2. Identify the organisation's objectives for the measurement and evaluation of marketing effectiveness

2.3. Recommend methods of measuring marketing performance for each marketing process or function tailored to the organisation's brand or unique positioning

2.4. Contribute to the calculation of costs of gathering and analysing data

2.5. Plan and document the implementation strategy for measuring and analysing marketing performance

2.6. Contribute to the development of specific, relevant metrics

3. Promote the strategy to measure marketing effectiveness

3.1. Plan the promotion of validity, value and efficacy of marketing metrics to key stakeholders using appropriate format

3.2. Design an internal marketing communications strategy so that marketing and other relevant personnel fully understand their role in measuring marketing effectiveness

3.3. Report on implementation and outcome issues

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

  • communication skills to:
  • promote the strategy to measure marketing effectiveness
  • write and present complex reports
  • learning and research skills to:
  • research available metrics
  • design a communication strategy suitable for a range of people with different learning styles
  • numeracy skills to:
  • analyse marketing data
  • calculate costs of collecting and analysing data
  • select appropriate metrics
  • planning and organising skills to design implementation of the strategy to measure marketing effectiveness
  • technology skills for research and data analysis

Required knowledge 

  • range of criteria for selecting metrics
  • range of marketing functions within an organisation
  • range of marketing metrics and their usefulness to measure key marketing operations

Evidence Guide

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the following is essential:

  • development of a strategy to measure marketing performance, which includes:
  • objectives
  • metrics chosen and rationale for choice for each marketing process or function
  • costs
  • link to organisational strategy and objectives
  • communication plan.

Context of and specific resources for assessment 

Assessment must ensure access to:

  • a workplace or simulated work environment
  • relevant workplace documents and data, in particular data already collected to measure marketing effectiveness
  • office equipment and resources, including appropriate software.

Method of assessment 

The following assessment methods are appropriate for this unit:

  • review of portfolio of evidence of actions taken to plan a strategy to measure marketing performance
  • oral or written questioning to assess:
  • actions taken to implement a strategy to measure marketing performance
  • knowledge of marketing metrics and their uses for different phases of the marketing process and for different marketing outcomes
  • analysis of responses to case studies and scenarios around marketing metrics.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.

Range Statement

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Metrics  may include:

  • brand equity, such as:
  • availability
  • brand perception
  • familiarity
  • loyalty
  • penetration
  • brand value
  • competition
  • customer databases
  • customer acquisition, satisfaction, retention, value and loss
  • communications effectiveness
  • e-metrics, such as:
  • hits
  • page views
  • visits
  • inventory efficiency and effectiveness
  • loyalty or retention
  • market performance by customer, product, accounting and financial outcomes
  • market share
  • overall sales
  • return on marketing investment in market-based assets
  • sales force effectiveness
  • segment penetration
  • share of mind
  • share of voice
  • share of wallet
  • shareholder value.

Marketing processes and functions  may include:

  • advertising
  • direct marketing
  • distribution
  • e-marketing
  • loyalty programs
  • market research
  • marketing communications
  • pricing
  • product development, including pre- and post-launch
  • sales force.

Issues  may include:

  • cost of obtaining meaningful information
  • frequency of measurement
  • level of management that reviews the metrics
  • skill of marketing personnel in terms of measurement
  • treatment of intangible assets in financial statements
  • volume of data to be analysed.

Criteria  may include:

  • whether they are:
  • precise and sensitive to change
  • predictive, e.g. of future customer purchase, retention and cash flow
  • relevant to the organisation's strategy and context
  • reliable over time so trends can be tracked
  • cost-effective
  • costs (money and time) involved in measuring
  • possible benefits of measurement
  • risks if measurement does not occur.

Unit Sector(s)

Unit sector 

Competency field

Competency field 

Business development - marketing

Co-requisite units

Co-requisite units