Unit of competency Outline

Date retreived
22/07/2026 9:19 PM AWST

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Identify and evaluate marketing opportunities

Identify and evaluate marketing opportunities

Unit of competency
National Code
BSBMKG541
State Code
OCF41
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
19/10/2020
View on TGA
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080505 - Marketing
Original Release Date
16/03/2021
Nominal Hours
65
Description
This unit describes the skills and knowledge required to identify, evaluate and take advantage of marketing opportunities by analysing market data, distinguishing characteristics of possible markets and assessing viability of changes to operations.The unit applies to individuals working in a supervisory or management marketing or advertising role within a marketing or advertising team or media organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Explore marketing opportunities
  • 1.1 Analyse information on market and business needs for marketing opportunities
  • 1.2 Identify potential new markets
  • 1.3 Apply innovative approaches relevant to the development of potential marketing opportunities
2. Evaluate marketing opportunities
  • 2.1 Identify and analyse opportunities for organisational fit according to organisational goals and capabilities
  • 2.2 Analyse the viability of each opportunity
  • 2.3 Determine probable return on investment and potential competitors
  • 2.4 Select marketing opportunities according to outcomes of viability analysis, return on investment and competition
3. Evaluate required changes to current operations
  • 3.1 Seek feedback from relevant stakeholders
  • 3.2 Incorporate feedback received for current operations and take advantage of viable marketing opportunities
  • 3.3 Review current operations and document changes needed
  • 3.4 Identify resource requirements for marketing opportunities
  • 3.5 Document and communicate viability of marketing opportunities to key stakeholders
No information
No information
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