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. Develop promotional strategy for services | 1.1 Create promotional packages that meet requirements of sales plan, enhance brokerage’s corporate image and comply with all relevant legislative requirements 1.2 Implement promotional strategy within budget in timeframes specified |
2. Manage preparation of distributional channels | 2.1 Identify and obtain required distribution channels 2.2 Implement training of distribution channels to ensure product knowledge and quality client service is maximised 2.3 Distribute promotional materials within appropriate timeframes |
3. Monitor and review sales plan implementation | 3.1 Establish criteria to measure effectiveness of promotional strategy 3.2 Establish performance criteria for distribution channels so attainment of forecast sales targets can be monitored 3.3 Conduct variance analysis on results of planned implementation 3.4 Make adjustments to promotional strategy or service distribution as necessary to ensure required results are obtained |
Evidence of the ability to:
develop a promotional strategy to support the brokerage sales plan
develop an effective sales plan to increase the market share of the brokerage
manage implementation of the strategy through effective selection and preparation of distribution channels
evaluate performance of the sales plan and adjust promotional strategies as required.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the evidence requirements safely and effectively, the individual must:
outline the analysis undertaken of current industry market trends and distribution channels in planning promotional strategies
describe the influence of organisation and/or industry policy wordings on the design of the promotional strategy
explain the key sales and marketing principles used in the design of the sales plan and promotional strategy
explain the process whereby management accountability is taken for compliance with organisational policy and procedures, underwriters’ guidelines and authorities and legislative requirements in the design and execution of the promotional strategy to support the sales plan.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:
common office equipment, technology, software and consumables
organisational records
organisational policy and procedures.
Assessor must satisfy NVR/AQTF assessor requirements.