AHCBUS502 Market products and services

Release: 1

AHCBUS502 Market products and services

Modification History

Release	TP Version	Comment
1	AHCv1.0	Initial release

Application

This unit of competency describes the skills and knowledge required to market products and services.

All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.

This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities.

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

Pre-requisite Unit

Nil.

Unit Sector

Business (BUS)

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. Analyse market information	1.1 Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data 1.2 Analyse past trends and developments to determine market variability and associated risks 1.3 Develop gross margin budgets to account for market variability 1.4 Identify and evaluate competing products to determine strengths and weaknesses of own products 1.5 Monitor market environment to ensure information is current and reliable 1.6 Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise 1.7 Identify product specifications that suit market requirements and price advantage at the time 1.8 Present clear and concise information to the enterprise management team
2. Identify and evaluate factors to include in a marketing plan	2.1 Identify and evaluate production processes to ensure required product specifications are met 2.2 Identify and assess alternative selling strategies and techniques to identify marketing targets and methods 2.3 Identify and assess distribution channels and their role in your marketing strategies 2.4 Ensure the data used is reliable and the market environment and trends are substantiated 2.5 Evaluate the role of marketing professionals in providing advice
3. Develop a marketing plan for your products and services	3.1 Establish marketing objectives based on current and potential product specifications 3.2 Select appropriate production processes to ensure product specifications are met 3.3 Select selling strategies to ensure required prices are achieved 3.4 Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately 3.5 Establish time-frames for production, distribution and selling activities 3.6 Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan 3.7 Develop partial gross margin budgets to account for market variability
4. Determine promotional strategies	4.1 Prepare and record detailed plans for promotional activities 4.2 Outline objectives, level of exposure and available markets 4.3 Ensure strategies take account of time management and scheduling issues, and resource constraints 4.4 Create promotional materials that enhance the product and commercial presentation 4.5 Record and communicate priorities, responsibilities, timelines and budgets for promotional activities
5. Implement marketing activities	5.1 Schedule planned marketing activities within appropriate timeframes 5.2 Develop measurable performance targets that meet business plan objectives 5.3 Organise distribution channels and ensure product and service information is accurate and readily available to clients 5.4 Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements
6. Evaluate marketing performance	6.1 Review the established marketing objectives to ensure they remain viable 6.2 Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives 6.3 Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements 6.4 Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas 6.5 Document and distribute information for continual analysis and effective planning management

Foundation Skills

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

Range of Conditions

Unit Mapping Information

This unit is equivalent to AHCBUS502A Market products and services plus AHCBUS505A Develop a marketing plan.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72