Implement Marketing Strategies

BSBMKG514A Implement and monitor trade activities Revision Number 1 BSBMKG514A Implement and monitor merchandise activities Modification History Not applicable. Unit Descriptor Unit descriptor This unit breaks the carrying into action outcomes, skills and knowledge required to utensil merchandising activities described in a trade plan, to monitor their effectiveness in meeting organisational marketing objectives, and take actions to improve marketing exercise. No licensing, legislative, restrictive or certification requirements apply to this unit at the time of endorsement. Application of the UnitApplication of the unit This unit applies to individuals working in marketing fill outment positions who are responsible for(p) for implementing and monitoring organisational marketing strategies. In this role they would usually lead and coordinate a marketing team, implement the marketing plan, monitor the performance of marketing strategies and guess their effectiveness. They also involve team members in identifying improvements to marketing strategies and formulating recommendations for future marketing activities. Licensing/Regulatory Information Not applicable. Pre-Requisites Prerequisite units Employability Skills Information Employability skills This unit contains employability skills. Elements and Performance Criteria Pre-Content Elements describe the essential outcomes of a unit of competency. Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. Elements and Performance Criteria ELEMENT PERFORMANCE CRITERIA 1. Implement marketing strategies and tactics 1. 1.Brief stakeholders who participated in the marketing planning process on their implementation roles and responsibilities 1. 2. Identi fy and brief marketing and non-marketing personnel critical to the success of the marketing plan, on the objectives of the plan, performance measures, and their roles and responsibilities1. 3. Prioritise marketing strategies and identify resources for their implementation, in unity with organisational requirements1. 4. Implement colloquy and team building strategies to ensure that personnel responsible for for each one element of the marketing mix work together to meet the organisations marketing objectives1. . Implement strategies for monitoring marketing activities and analysing marketing performance, in accordance with the marketing plan 2. Monitor marketing strategies and tactics 2. 1. Monitor and implement promotional activity against communication objectives in the marketing plan2. 2. Monitor product, pricing and distribution decisions against organisational policy and the objectives of the marketing plan2. 3. Monitor marketing results against targets in the marketing plan2 . 4. Monitor marketing revenue and costs against budget, and analyse record variations 2. . Prepare and present marketing reports that indicate ongoing progress towards marketing objectives 3. Evaluate and improve marketing performance 3. 1. Regularly assess marketing performance against objectives3. 2. Identify opportunities for improvement through discussion with customers and personnel responsible for each element of the marketing mix3. 3. Change business practices in line with changing customer requirements to maintain business relevance and viability3. 4. Document recommendations for improvement in accordance with organisational requirements3. 5.Communicate changes to marketing objectives and targets with relevant stakeholders, to facilitate implementation Required Skills and Knowledge REQUIRED SKILLS AND KNOWLEDGE This section describes the skills and knowledge required for this unit. Required skills culturally confiscate communication skills to relate to people from diverse backgrounds and people with diverse abilitiesliteracy skills to prepare complex reports on marketing performance numeracy skills to analyse marketing performance, revenue and cost teamwork skills to manage a marketing team. Required knowledge rganisational strategic and marketing objectives, plans and performance measuresprinciples of the marketing mixkey provisions of relevant legislation from all forms of government, codes of practice and national standards that may affect aspects of business operations such asanti-discrimination legislation and principles of equal opportunity, equity, and diversityethical principlesmarketing codes of practice and conduct such as the Australian Direct Marketing tie (ADMA) Direct Marketing Code of Practiceprivacy lawsTrade Practices Act. Evidence Guide EVIDENCE GUIDEThe Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Gui delines for the Training Package. Overview of assessment Critical aspects for assessment and evidence required to demonstrate competency in this unit Evidence of the following is essentialsuccessfully implementing marketing strategies identified in an organisations marketing plancoordinating personnel involved in conducting marketing activitiesmonitoring, evaluating and reporting on marketing ctivities against defined objectivesmodifying marketing activities in line with new or emerging trends. Context of and specific resources for assessment Assessment must ensure coming to office equipment and resourcesaccess to organisational and marketing strategic plans. Method of assessment A range of assessment methods should be used to assess practical skills and knowledge.The following examples are appropriate for this unitanalysis of responses to case studies and scenariosassessment of written reports on marketing performancedirect questioning combined with review of portfolios of evid ence and third party workplace reports of on-the-job performance by the candidateobservation of team management activitiesobservation of presentations on marketing performance reportsoral or written questioningreview of authenticated documents from the workplace or training environmentreview of testimony from team members, colleagues, supervisors or managers. Guidance information for assessment Holistic assessment with other units relevant to the labor sector, workplace and job role is recommended, for exampleother marketing units. guide Statement RANGE STATEMENT The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance.Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regi onal contexts) may also be included. Stakeholders may include Board of directorsfinance staffhuman resources staffIT staffmanagersmarketing personnelownersproduction staffsupervisors Marketing may include business-to-business marketingdirect marketingideas marketingmarketing of goodspublic sector marketingservices marketingtelemarketing Non-marketing personnel may include publicise personnelmanagerspublic relations personnelsales managersales teamstaffsupervisors Resources may include financialhumanITphysicaltechnical Marketing mix may include distributionlevel of servicepricingproduct or service variables such asdesignqualityrangesafety featurestechnical featurespromotion Unit Sector(s) Unit sector talent field Competency field Business Development Marketing Co-requisite units Co-requisite units