Elements and Performance Criteria
- Analyse market information
- Identify, research and analyse existing or new markets for existing or new products or services using techniques to ensure reliable data
- Analyse past trends and developments to determine market variability and associated risks
- Develop gross margin budgets to account for market variability
- Identify and evaluate competing products to determine strengths and weaknesses of own products
- Monitor market environment to ensure information is current and reliable
- Identify the legal, ethical and environmental constraints of the markets and their effect on the enterprise
- Identify product specifications that suit market requirements and price advantage at the time
- Present clear and concise information to the enterprise management team
- Identify and evaluate factors to include in a marketing plan
- Identify and evaluate production processes to ensure required product specifications are met
- Identify and assess alternative selling strategies and techniques to identify marketing targets and methods
- Identify and assess distribution channels and their role in your marketing strategies
- Ensure the data used is reliable and the market environment and trends are substantiated
- Evaluate the role of marketing professionals in providing advice
- Develop a marketing plan for your products and services
- Establish marketing objectives based on current and potential product specifications
- Select appropriate production processes to ensure product specifications are met
- Select selling strategies to ensure required prices are achieved
- Select appropriate distribution channel options to ensure access to target markets is achieved efficiently and appropriately
- Establish time-frames for production, distribution and selling activities
- Develop a gross margin budget to demonstrate the cost effectiveness of the marketing plan
- Develop partial gross margin budgets to account for market variability
- Determine promotional strategies
- Prepare and record detailed plans for promotional activities
- Outline objectives, level of exposure and available markets
- Ensure strategies take account of time management and scheduling issues, and resource constraints
- Create promotional materials that enhance the product and commercial presentation
- Record and communicate priorities, responsibilities, timelines and budgets for promotional activities
- Implement marketing activities
- Schedule planned marketing activities within appropriate timeframes
- Develop measurable performance targets that meet business plan objectives
- Organise distribution channels and ensure product and service information is accurate and readily available to clients
- Implement marketing activities within budgetary constraints to meet legal, ethical and enterprise requirements
- Evaluate marketing performance
- Review the established marketing objectives to ensure they remain viable
- Make an objective assessment of the marketing plan and its implementation by a comparison of valid and reliable data against the established objectives
- Assess product, pricing and distribution policies in relation to market changes, marketing objectives and enterprise requirements
- Identify areas of positive marketing performance and take corrective action to remedy poor marketing performance areas
- Document and distribute information for continual analysis and effective planning management