Assessor Resource

BSBMKG512
Forecast international market and business needs

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to gather intelligence about an international target market to inform business development.

It applies to individuals who possess a sound theoretical knowledge base in international business management and who have a range of managerial and supervisory skills to ensure business activities are conducted effectively.

In this role, individuals would have responsibility for forecasting international and business needs, collecting market intelligence, reviewing current business performance and capability, evaluating specific markets and documenting how a business can meet current and emerging needs.

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

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Collect market intelligence

1.1 Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities

1.2 Identify and access further sources of market intelligence

1.3 Evaluate commercial services providing market intelligence for value for money and quality of market intelligence, and access as required

1.4 Collate and analyse market for relevance and applicability to the organisation’s international business activity and undertake an evaluation of marketing performance

2. Review current business performance and capability

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

2.2 Identify current international marketing performance and effectiveness of past international marketing or positioning

2.3 Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity

2.4 Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets

2.5 Identify underperforming products or services within international markets for redevelopment or withdrawal

2.6 Confirm the strength and current competitive position of the business within international markets

3. Evaluate the specific market

3.1 Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business

3.2 Gather and analyse comparative international market information as a basis for reviewing business performance

3.3 Analyse the market performance internationally of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets

3.4 Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business

3.5 Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity

4. Document how business can meet current and emerging needs of the target market

4.1 Identify, analyse and document poor/underservicing of existing international market needs by the organisation and/or its competitors

4.2 Identify changes in international markets that link positively to the organisation’s strengths or capabilities

4.3 Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements

4.4 Forecast and justify emerging international market needs in terms of available information

4.5 Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Collect market intelligence

1.1 Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities

1.2 Identify and access further sources of market intelligence

1.3 Evaluate commercial services providing market intelligence for value for money and quality of market intelligence, and access as required

1.4 Collate and analyse market for relevance and applicability to the organisation’s international business activity and undertake an evaluation of marketing performance

2. Review current business performance and capability

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

2.2 Identify current international marketing performance and effectiveness of past international marketing or positioning

2.3 Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity

2.4 Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets

2.5 Identify underperforming products or services within international markets for redevelopment or withdrawal

2.6 Confirm the strength and current competitive position of the business within international markets

3. Evaluate the specific market

3.1 Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business

3.2 Gather and analyse comparative international market information as a basis for reviewing business performance

3.3 Analyse the market performance internationally of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets

3.4 Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business

3.5 Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity

4. Document how business can meet current and emerging needs of the target market

4.1 Identify, analyse and document poor/underservicing of existing international market needs by the organisation and/or its competitors

4.2 Identify changes in international markets that link positively to the organisation’s strengths or capabilities

4.3 Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements

4.4 Forecast and justify emerging international market needs in terms of available information

4.5 Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities 
Identify and access further sources of market intelligence 
Evaluate commercial services providing market intelligence for value for money and quality of market intelligence, and access as required 
Collate and analyse market for relevance and applicability to the organisation’s international business activity and undertake an evaluation of marketing performance 
Confirm core activities, customer base, business values and current business direction 
Identify current international marketing performance and effectiveness of past international marketing or positioning 
Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity 
Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets 
Identify underperforming products or services within international markets for redevelopment or withdrawal 
Confirm the strength and current competitive position of the business within international markets 
Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business 
Gather and analyse comparative international market information as a basis for reviewing business performance 
Analyse the market performance internationally of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets 
Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business 
Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity 
Identify, analyse and document poor/underservicing of existing international market needs by the organisation and/or its competitors 
Identify changes in international markets that link positively to the organisation’s strengths or capabilities 
Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements 
Forecast and justify emerging international market needs in terms of available information 
Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity 

Forms

Assessment Cover Sheet

BSBMKG512 - Forecast international market and business needs
Assessment task 1: [title]

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Assessment Record Sheet

BSBMKG512 - Forecast international market and business needs

Student name:

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Assessment task 1: [title] Result: Competent Not yet competent

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Overall assessment result: Competent Not yet competent

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