Unit of competency Outline

Date retreived
22/07/2026 9:57 PM AWST

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Monitor market opportunities

Monitor market opportunities

Unit of competency
National Code
FNSSAM503
State Code
AUT13
TGA Status
Current
DTWD Status
Approved
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
30
Description
This unit describes the skills and knowledge required to monitor and identify market opportunities for products and services in the financial services industry.It applies to individuals who use specialised knowledge, systematic approaches and analytical skills to monitor and manage information relevant to organisational activity.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Maintain business information networks
  • 1.1 Review identified business networks on a regular basis to ensure relevance and reliability
  • 1.2 Ensure information obtained through business networks is up to date, relevant and reliable
2. Identify changes in existing markets
  • 2.1 Review existing markets within corporate policy and codes of practice constraints
  • 2.2 Identify and report significant changes in existing markets against known market conditions and formulate corrective action plan
3. Identify additional markets
  • 3.1 Conduct research to identify additional markets
  • 3.2 Adopt strategies that meet corporate policy, industry and legislative requirements
  • 3.3 Formulate options that specify product opportunities and convey to underwriters and management
  • 3.4 Assess all relevant information to determine feasibility of opportunity
4. Monitor competitor activity
  • 4.1 Continually benchmark product performance, image and range against that offered by competitors to determine market position
  • 4.2 Identify available market opportunities and refer to appropriate personnel and management, together with market information
No information
No information
Replaces
State Code National Code Title Type
D4321 FNSSAM503A Monitor market opportunities Unit of competency