Unit of competency Outline

Date retreived
22/07/2026 1:28 PM 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
FNSSAM602
State Code
AUT04
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
16/09/2015
Field of Education
080505 - Marketing
Original Release Date
16/09/2015
Nominal Hours
80
Description
This unit describes the skills and knowledge required to evaluate market data, define new and emerging market trends and assess the viability of new product development to take advantage of marketing opportunities.It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to provide leadership in strategic organisational activity.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 to identify marketing opportunities
  • 1.2 Review business plan to identify organisational objectives, emerging trends and external influences on financial services industry
  • 1.3 Identify and research opportunities to enter, shape or influence current and potential markets and develop potential new products
  • 1.4 Explore 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 in terms of their likely fit with organisational goals and capabilities, and evaluate to determine impact on current business and client base
  • 2.2 Assess external factors, costs, benefits, risks and opportunities to determine financial viability of each marketing opportunity
  • 2.3 Determine probable returns on investment and potential competitors
  • 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 examine opportunities for compliance with relevant legislation
  • 3.2 Reject or modify marketing opportunities not meeting compliance requirements
  • 3.3 Ensure marketing proposals clearly define relevant legislative compliance issues
4. Evaluate required changes to current operations
  • 4.1 Identify and document changes needed to current operations to take advantage of viable marketing opportunities
  • 4.2 Manage organisational changes which involve an increased or different client base to ensure continued quality of service to existing clients
  • 4.3 Identify resource requirements for changed operations, and determine and communicate viability of making changes to current operations to key stakeholders
5. Develop marketing proposals
  • 5.1 Clearly describe and define marketing concepts
  • 5.2 Provide viability assessments for marketing concepts and detail marketing strategy
  • 5.3 Prepare proposals in manner that assists in decision-making process for marketing development, providing additional information to support marketing proposals as required
No information
No information
Replaces
State Code National Code Title Type
D4323 FNSSAM602A Identify and evaluate marketing opportunities in the financial services industry Unit of competency
Replaced By
State Code National Code Title Type
OCZ12 FNSSAM612 Identify and evaluate marketing opportunities in the financial services industry Unit of competency