Unit of competency Outline

Date retreived
22/07/2026 10:01 AM AWST

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Forecast international market and business needs

Forecast international market and business needs

Unit of competency
National Code
BSBMKG512
State Code
AUJ24
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080505 - Marketing
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to gather intelligence about an international target market to inform business development.It applies to individuals who possess a sound theoretical knowledge base in international business management and who have a range of managerial and supervisory skills to ensure business activities are conducted effectively.In this role, individuals would have responsibility for forecasting international and business needs, collecting market intelligence, reviewing current business performance and capability, evaluating specific markets and documenting how a business can meet current and emerging needs.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Collect market intelligence
  • 1.1 Gather and document market intelligence through networking activities and participation in activities such as trade fairs, conferences, and/or professional development activities
  • 1.2 Identify and access further sources of market intelligence
  • 1.3 Evaluate commercial services providing market intelligence for value for money and quality of market intelligence, and access as required
  • 1.4 Collate and analyse market for relevance and applicability to the organisation’s international business activity and undertake an evaluation of marketing performance
2. Review current business performance and capability
  • 2.1 Confirm core activities, customer base, business values and current business direction
  • 2.2 Identify current international marketing performance and effectiveness of past international marketing or positioning
  • 2.3 Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity
  • 2.4 Identify and assess current capabilities and resources to identify areas for improvement or exploitation within international markets
  • 2.5 Identify underperforming products or services within international markets for redevelopment or withdrawal
  • 2.6 Confirm the strength and current competitive position of the business within international markets
3. Evaluate the specific market
  • 3.1 Identify and analyse trends and developments having an impact on international business activity for their potential impact on the business
  • 3.2 Gather and analyse comparative international market information as a basis for reviewing business performance
  • 3.3 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
  • 3.4 Identify and tap sources of intelligence for advance warning of new products, services, technology or new international markets for the business
  • 3.5 Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity
4. Document how business can meet current and emerging needs of the target market
  • 4.1 Identify, analyse and document poor/underservicing of existing international market needs by the organisation and/or its competitors
  • 4.2 Identify changes in international markets that link positively to the organisation’s strengths or capabilities
  • 4.3 Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome, and select technique/s in accordance with organisational requirements
  • 4.4 Forecast and justify emerging international market needs in terms of available information
  • 4.5 Identify the needs of the business in terms of changes required to improve performance or to address an international market opportunity
No information
No information
Replaces
State Code National Code Title Type
D0874 BSBMKG512A Forecast international market and business needs Unit of competency
Replaced By
State Code National Code Title Type
OCF33 BSBMKG548 Forecast international market and business needs Unit of competency