Unit of competency details

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to analyse data from international markets.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

Application of the unit 

This unit applies to individuals with managerial responsibility for interpreting international trends and market developments, interpreting competitor market performance and reporting on market data. The purpose and intent of reporting on market data is to assist the organisation to target marketing activities and to draw up marketing plans.

Prerequisite units 

Employability skills 

This unit contains employability skills.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

ELEMENT 

PERFORMANCE CRITERIA 

1. Interpret trends and market developments

1.1. Use statistical analysis  of Australian and international market data to interpret international market trends and developments

1.2. Analyse trends and developments  within Australia and relevant international settings for their potential impact on international business activity within target market

1.3. Identify aspects of culture  that may have an impact on international business activity within target market

1.4. Use measures of central tendency /dispersion and correlations  between sets of data for quantitative interpretation of comparative international market data

1.5. Perform qualitative analysis of comparative international market information  as a basis for reviewing business performance in international settings

2. Interpret competitor market performance

2.1. Analyse the international market performance of existing and potential competitors and their products or services to identify potential opportunities  or threats

2.2. Compare international business performance to that of competitors to identify market position

3. Report on market data

3.1. Prepare, plot and interpret data for visual presentation 

3.2. Assess visual presentation for potential problems and take corrective action if necessary

3.3. Ensure report meets organisational requirements in terms of content, format and level of detail

3.4. Submit report within the required timeframe

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

• analytical skills to profile international markets, audiences and segments
• culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities
• evaluation and assessment skills to investigate international business opportunities
• literacy skills to write reports with complex ideas and concepts
• technology skills to use a range of software to collect and analyse international market data.

Required knowledge 

• cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity
• identification and overview knowledge of key provisions of relevant legislation from all levels of government that affects business operations, codes of practice and national standards, such as:

• Customs Act
• Dangerous Goods Act
• International Commercial Terms (INCOTERMS)
• trade modernisation legislation: Customs Legislation Amendment and Repeal Act, Import Processing Charges Act, Customs Depot Licensing Charges Amendment Act
• Trade Practices Act
• Warsaw Convention
• World Trade Organisation determinations

• sources of external and internal information on international markets
• research, data analysis and statistical analysis techniques relevant to market data
• variety of statistical techniques for use in analysing market data.

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the following is essential:

• analysis of market data to inform the process of targeting marketing activities and the drawing up of a marketing plan
• examples where the candidate has analysed and reported on market data, including interpreting trends and market developments and competitor market performance data
• documentation of results of analysis in a report
• knowledge of cultural, historical, political, economic and general knowledge of international events that may have an impact on international business activity.

Context of and specific resources for assessment 

Assessment must ensure:

• access to an actual workplace or simulated environment
• access to office equipment and resources
• access to workplace documents including completed reports
• access to information sources used by candidate.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

• direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
• review of comparison of international business performance to that of competitors
• analysis of responses to case studies and scenarios
• demonstration of data analysis techniques
• observation of presentations
• oral or written questioning to assess knowledge of international markets and strategies
• assessment of data analysis reports.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

• BSBMKG517AAnalyse consumer behaviour for specific international markets.

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Statistical analysis  may include:

• measures of central tendency
• measures of dispersion
• nature and degree of relationship between variables
• normal distribution probability curve
• sampling
• time series analysis

Trends and developments  may include:

• changes in technology
• demographic trends
• ecological/environmental trends
• economic trends (local, regional, national, international)
• government activities e.g. interest rates, deregulation
• industrial trends
• political events such as:

• wars
• internal conflicts
• forthcoming elections

• social and cultural factors

Aspects of culture  may include:

• attitude of overseas countries to Australia and Australians
• degree of fiscal conservatism or liberalism within culture
• family structures, and usual purchasers and decision makers in families
• religion
• values and beliefs

Measures of central tendency /dispersion and correlations  may include:

• benchmarking against Australian performance
• cross-tabulations
• grouped or ungrouped data
• inter-firm comparison data
• international benchmarking
• mean
• median
• mode
• Z, T and chi square tests

Comparative international market information  may include:

• benchmarking against Australian performance
• best practice information
• inter-firm comparison data
• international benchmarking

Opportunities  may include:

• cooperative ventures
• extending, expanding or otherwise changing an existing business
• franchising
• joint ventures
• new products or services for existing markets
• new products or services for new international settings or within other regions of existing international settings
• potential for greater penetration of existing markets with existing products or services
• strategic alliances

Visual presentation  may include:

• desktop published reports of market data
• graphical data including pie/bar/column graphs
• material using a variety of media such as video, audio, CD-ROM, photographs, slides, film

Unit sector 

Competency field 

Business Development - Marketing

Co-requisite units