Assessment Requirements for BSBMKG512 Forecast international market and business needs

Release: 1

Assessment Requirements for BSBMKG512 Forecast international market and business needs

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:

analyse information from a range of sources and apply forecasting techniques to identify international market and business needs, including:

collection of market intelligence

review of current business performance and capability

review of effectiveness of international marketing or positioning

evaluation of specific international markets

networking and professional development

identify opportunities for improved performance in the international market including consideration of:

re-development or withdrawal of under-performing products or services

under-serviced markets

market changes with a direct link to the organisation’s strengths or capabilities

gaps in competitor products or services

strategic alliances and cooperative business models

greater market penetration with existing products or services

new businesses and franchising

new products or services to target specific markets

evaluate commercial services providing market intelligence and access as appropriate

produce a written report outlining how the business can meet current and emerging needs of targeted international markets.

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:

give examples of cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity in the industry

explain forecasting techniques including:

bottom-up forecasting

Delphi techniques

model building

projection

scenario planning

surveys of intentions

top-down forecasting

outline internal and external sources of information relevant to forecasting international market and business needs including:

core activities, customer base, business values and current business direction

marketing and other business performance

comparative market information

changes in technology

demographic changes

political events

social and cultural factors

economic trends

government activities and legislative changes

industry trends

outline the legislative and regulatory context of the organisation in relation to forecasting market and business needs

give examples of software applications that are commonly used in market analysis and forecasting and outline their key features.

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:

relevant legislation, regulations, standards and codes

relevant workplace documentation and resources

case studies and, where possible, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10