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Unit of competency details

SIRRMRM008 - Develop a merchandise promotional plan (Release 1)

Summary

Usage recommendation:
Current
Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 16/Aug/2017

Companion volumes:

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  12/Oct/2017 
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Unit Of competency

Modification History

Not applicable.

Application

This unit describes the performance outcomes, skills and knowledge required to develop a merchandise promotional plan that supports merchandise performance. It requires the ability to plan and schedule promotional activities that align to a merchandise strategy and review their impact.

This unit applies to senior personnel working in a diverse range of retail sectors and business contexts. They operate with independence and are responsible for making a range of operational business decisions that relate to retail merchandise management.

No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.

Pre-requisite Unit

Nil

Competency Field

Merchandise Management

Unit Sector

Retail

Elements and Performance Criteria

ELEMENTS 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine merchandise promotional requirements.

1.1. Access and review organisational marketing strategy to determine marketing direction and objectives of the organisation.

1.2. Access and review previous promotional activity and identify opportunities for improved merchandise promotional performance.

1.3. Review and make informed conclusions about competitor promotional activity and identify promotional threats and opportunities.

1.4. Consult with relevant personnel to seek input on merchandise promotional activity and opportunities.

2. Develop promotional plan.

2.1. Develop merchandise promotional objectives in line with marketing strategy.

2.2. Identify and source promotional tools required to achieve merchandise promotional objectives.

2.3. Document a merchandise promotional action plan that details key activities, resources and timeframes.

2.4. Establish performance indicators for measuring impact of merchandise promotional activity.

2.5. Integrate legal and ethical requirements and considerations into promotional planning.

2.6. Ensure merchandise promotional plan aligns with organisational objectives, current marketing strategy and budget.

2.7. Seek any required approval for merchandise promotional plan.

3. Monitor merchandise promotional activity.

3.1. Communicate merchandise promotional plan and action plan to relevant personnel.

3.2. Oversee merchandise promotional activity and respond to issues as they arise.

3.3. Produce promotional activity reports according to organisational procedures.

4. Review promotional plan.

4.1. Evaluate promotional activity against performance indicators to determine effectiveness.

4.2. Make recommendations for improvements in merchandise promotion based on review.

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit Mapping Information

No equivalent unit.

Links

Companion Volume Implementation Guide - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d

 

Assessment requirements

Modification History

Not applicable.

Performance Evidence

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

  • determine organisational merchandise promotional requirements and develop a merchandise promotional plan for execution over a three-month period that includes:
  • promotional calendar
  • profiled target audiences
  • key activities
  • resource requirements
  • performance indicators
  • promotional tools
  • monitor the performance of a promotional plan, review against performance indicators, and make recommendations for future improvements.

Knowledge Evidence

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

  • key aspects of legal and ethical requirements as related to merchandise promotional planning and activity:
  • Australian Consumer Law
  • Trade Practices Act
  • privacy
  • appropriate use of images and text
  • codes of practice
  • types of promotional tools:
  • benefits
  • limitations
  • trends in promotional activity and their use for customer engagement and retail promotion
  • supplier negotiations required to participate in co-operative funding of promotional activities:
  • rebates
  • charges
  • discounts
  • logistics
  • markdowns
  • staff training
  • in-store support
  • merchandise returns
  • comparative promotional options relevant to promotional strategies:
  • benchmarking
  • best practice information
  • competitor information
  • promotional performance indicators:
  • exposure achieved
  • sales achieved
  • penetration of target market
  • cost-effectiveness
  • sustainability considerations, opportunities for and constraints on promotion in the relevant context, and those related to:
  • economic sustainability of promotional initiatives
  • resource conservation and waste minimisation
  • performance indicators for measuring impact of promotional activities
  • recommendations for strategic responses based on promotional evaluation.

Assessment Conditions

Skills must be demonstrated in a retail environment. This can be:

  • an industry workplace
  • a simulated industry environment.

Assessment must ensure access to:

  • organisational marketing strategy and performance information
  • promotional performance information.

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors, and:

  • have worked in the retail industry for at least three years where they have applied the skills and knowledge within this unit of competency.

Links

Companion Volume Implementation Guide - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d