Elements and Performance Criteria
- Collect market intelligence
- 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
- Review current business performance and capability
- 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
- Evaluate the specific market
- 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
- Document how business can meet current and emerging needs of the target market
- 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