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.

What You'll Learn

Assessment Requirements

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
• identify and evaluate at least three marketing opportunities.
In the course of the above, the candidate must:
• comply with organisational policies and procedures
• communicate and document potential of identified marketing opportunity to relevant stakeholders.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
• key provisions of relevant legislation, codes of practice and national standards affecting marketing operations
• how to calculate the financial viability of marketing opportunities
• return on investment
• financial and marketing data
• organisational structure, products and services
• principles of marketing and marketing mix
• statistical methods and techniques to evaluate marketing opportunities, including forecasting techniques.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
• legislation, regulations, standards and codes for marketing
• workplace marketing documentation and resources relevant to performance evidence.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Foundation Skills

• {'skill': 'Reading', 'description': 'Evaluates and comprehends textual information from a range of sources and draws own conclusions'}
• {'skill': 'Writing', 'description': 'Integrates information from a number of sources to develop material that supports purposes of documentation using suitable grammatical structure and clear, logical language'}
• {'skill': 'Oral Communication', 'description': 'Presents opinions, ideas and organisational requirements clearly and creatively using language and presentation techniques appropriate to audience and environment; Elicits views and opinions of others by listening and questioning'}
• {'skill': 'Numeracy', 'description': 'Evaluates financial and marketing data using whole numbers, decimals and percentages to make accurate calculations'}
• {'skill': 'Initiative and enterprise', 'description': 'Evaluates outcomes of decisions to identify opportunities for improvement; Develops new and innovative ideas through exploration, analysis and critical thinking'}
• {'skill': 'Self-management', 'description': 'Identifies and follows explicit and implicit organisational protocols and meets expectations associated with own role'}
• {'skill': 'Planning and organising', 'description': 'Develops plans to manage relatively complex tasks with an awareness of how they may contribute to longer-term operational and strategic goals; Makes decisions by systematically analysing information, identifying and evaluating options against set criteria, and choosing most appropriate option'}

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