Unit of competency details

BSBMKG605 - Evaluate international marketing opportunities (Release 1)

Summary

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

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBMKG605B - Evaluate international marketing opportunitiesUpdated 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
SIT - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-1.2 
MST - Textiles, Clothing and FootwearTextiles, Clothing and Footwear 1.0-1.1 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0-3.0 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-3.0 

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 evaluate the international environment, identify market factors and risks, and to assess viability of international marketing opportunities.

It applies to experienced individuals who use specialised knowledge to evaluate the international business environment in preparation for entering an international or export market for the first time, or to identify new marketing opportunities in markets in which their organisation already has a presence.

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. Review global market environment

1.1 Assess international trade patterns and identify their likely importance for the business

1.2 Research international business and electronic commerce market factors, and assess opportunities to enter, shape or influence the market for their likely contribution to the business

1.3 Identify international markets operating under free trade or protectionist arrangements and estimate likely ease of entering and trading successfully

1.4 Identify international trade policies and agreements and estimate their likely impact on international marketing opportunities

2. Assess international business and electronic commerce market factors

2.1 Identify and analyse impact of economic, political, social and cultural factors affecting international marketing opportunities

2.2 Investigate international market trends and developments to identify market needs relevant to the business

2.3 Identify new and emerging business and electronic commerce markets, and assess opportunities to enter, shape or influence markets based on their fit with business goals and direction, and their likely contribution to the business

3. Identify risk factors for international marketing opportunities

3.1 Analyse and rate acceptability of political, financial stability and corruption risk factors of potential market

3.2 Analyse and rate acceptability of legal and regulatory requirements, and trade barriers to potential market

3.3 Relate risk factors to international business cycles in terms of economic conditions and estimate their impact on potential market

4. Investigate international business and electronic commerce marketing opportunities

4.1 Identify and analyse international marketing opportunities according to their likely fit with the organisation’s goals and capabilities

4.2 Evaluate each opportunity to determine its impact on current business and customer base

4.3 Use an assessment of costs, benefits, risks and opportunities to determine financial viability of each marketing opportunity

4.4 Determine probable return on investment and potential competitors

4.5 Describe and rank marketing opportunities in terms of viability and likely contribution to the business

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, 2.1-2.3, 3.1-3.3, 4.1, 4.2

  • Researches and analyses a range of textual information from a variety of sources to identify key details and determine relevance to strategic organisational requirements

Writing

1.1-1.4, 2.1-2.3, 3.1-3.3, 4.1, 4.2, 4.5

  • Records results of research and analysis using language and format appropriate to organisation and purpose

Numeracy

1.1, 1.2, 2.2, 4.3-4.5

  • Performs complex mathematical calculations to analyse trend data, business development opportunities and cost benefit analyses

Navigate the world of work

1.4, 3.2, 4.1

  • Keeps up-to-date with legislation or regulations relevant to own rights and responsibilities and considers implications of these when negotiating, planning and undertaking work
  • Understands and adheres to organisational policies and objectives

Get the work done

1.1-1.4, 2.1- 2.3, 3.1-3.3, 4.2, 4.3, 4.4

  • Uses logical planning processes, and an increasingly intuitive understanding of context, to identify risk factors, and to evaluate alternative strategies and resources
  • Makes a range of critical and non-critical decisions in relatively complex situations, analysing information and taking a range of factors and constraints into account
  • Recognises potential of new approaches, including new technologies, to enhance work practices and outcomes

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBMKG605 Evaluate international marketing opportunities

BSBMKG605B Evaluate international marketing opportunities

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:

  • document and present an evaluation of various international marketing opportunities including:
  • analysis of global business environment
  • assessment of social, cultural, political and economic factors impacting selection of market opportunities
  • risk assessment for each opportunity considered
  • analysis of financial viability of selected international marketing opportunities.

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 relevant Australian and international standards, policies and guidelines, including those covering:
  • environmental matters
  • human rights
  • labour relations
  • packaging
  • risk management
  • electronic commerce
  • identify and explain key provisions of relevant legislation and codes of practice affecting aspects of marketing operations
  • explain the role of the Organisation for Economic Co-operation and Development (OECD)
  • identify and describe key features of the country or countries being considered for market entry or penetration, including:
  • cross-cultural communication and negotiation styles
  • global and country specific economic, social and industry directions, trends, practices and techniques.

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:

  • information sources on countries and markets being considered for entry or further penetration
  • office equipment and resources
  • examples of previous international marketing evaluation documents, strategic plans and marketing plans.

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.