Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with BSB Business Services Training Package Version 7.0. |
Application
This unit describes the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.
The unit applies to individuals working in a supervisory or management marketing or advertising role within a marketing or advertising team or media organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Technical Skills – 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. Explore marketing opportunities |
1.1 Analyse information on market and business needs for marketing opportunities 1.2 Identify potential new markets 1.3 Apply innovative approaches relevant to the development of potential marketing opportunities |
2. Evaluate marketing opportunities |
2.1 Identify and analyse opportunities for organisational fit according to organisational goals and capabilities 2.2 Analyse the viability of each opportunity 2.3 Determine probable return on investment and potential competitors 2.4 Select marketing opportunities according to outcomes of viability analysis, return on investment and competition |
3. Evaluate required changes to current operations |
3.1 Seek feedback from relevant stakeholders 3.2 Incorporate feedback received for current operations and take advantage of viable marketing opportunities 3.3 Review current operations and document changes needed 3.4 Identify resource requirements for marketing opportunities 3.5 Document and communicate viability of marketing opportunities to key stakeholders |
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.
Skill |
Description |
Reading |
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Writing |
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Oral Communication |
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Numeracy |
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Initiative and enterprise |
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Self-management |
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Planning and organising |
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Unit Mapping Information
Supersedes and is equivalent to BSBMKG501 Identify and evaluate marketing opportunities.
Supersedes but is not equivalent to:
- BSBMKG518 Plan and implement services marketing
- BSBMKG519 Plan and implement business-to-business marketing
- BSBMKG521 Plan and implement sponsorship and event marketing.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10