Elements and Performance Criteria
- Interpret trends and market developments
- Use statistical analysis of market data to interpret market trends and developments
- Analyse market trends and developments for their potential impact on the business
- Use measures of central tendency or dispersion and correlations between sets of data for quantitative interpretation of comparative market data
- Perform qualitative analysis of comparative market information as a basis for reviewing business performance
- Analyse the market performance of existing and potential competitors and their products or services to identify potential opportunities or threats
- Analyse qualitative results
- Analyse performance data from all areas of the business to determine success of marketing activities
- Identify overperforming and underperforming products and services to be considered for redevelopment or withdrawal
- Forecast existing and emerging market needs based on information available using forecasting techniques
- Report on market data