Unit of competency Outline

Date retreived
23/07/2026 11:23 AM AWST

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Identify and evaluate marketing opportunities in the financial services industry

Identify and evaluate marketing opportunities in the financial services industry

Unit of competency
National Code
FNSSAM612
State Code
OCZ12
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
080505 - Marketing
Original Release Date
22/04/2021
Nominal Hours
80
Description
This unit describes the skills and knowledge required to evaluate market data, analyse new and emerging market trends and assess the viability of new product development to take advantage of marketing opportunities.The unit applies to those who use specialised knowledge, systematic approaches and analytical skills to provide leadership in strategic organisational activity within the financial services industry. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify trends and opportunities in financial services industry
  • 1.1 Analyse information on current and emerging needs of market and organisation in consultation with others
  • 1.2 Review business plan to identify organisational objectives, emerging trends and external influences on financial services industry
  • 1.3 Identify and research opportunities and potential markets, and develop potential new products
  • 1.4 Investigate entrepreneurial, innovative approaches and creative ideas for potential business application and contribution to business
2. Investigate marketing and product development opportunities
  • 2.1 Identify and analyse opportunities according to organisational goals and capabilities, and determine impact on current business and client base
  • 2.2 Evaluate external factors, costs, benefits, risks and opportunities and determine financial viability of each marketing opportunity
  • 2.3 Determine estimated returns on investment and potential competitors of marketing opportunities
  • 2.4 Describe and rank marketing opportunities in terms of their viability and likely contribution to business
3. Assess legislative compliance of marketing opportunities
  • 3.1 Identify legislative and regulatory guidelines applicable to marketing opportunities and determine compliance with relevant legislation
  • 3.2 Reject or modify marketing opportunities not meeting compliance requirements
  • 3.3 Document and define legislative compliance issues in marketing proposal
4. Determine required changes to current operations
  • 4.1 Identify and document changes required to current operations
  • 4.2 Assess required organisational changes to client base to enable provision of continued quality of service to existing clients
  • 4.3 Identify resource requirements for changed operations, and determine and communicate viability of changes to current operations to key stakeholders
5. Develop marketing proposals
  • 5.1 Provide viability assessments for marketing opportunities and detail marketing strategy
  • 5.2 Prepare proposals for marketing development and provide additional information as required
No information
No information
Replaces
State Code National Code Title Type
AUT04 FNSSAM602 Identify and evaluate marketing opportunities in the financial services industry Unit of competency