Elements and Performance Criteria

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.


Specific

Measurable

Achievable

Realistic

Time defined


data about existing clients

data about possible new clients

data from internal sources

data from external sources such as:

Australian Bureau of Statistics (ABS)

trade associations/journals

Yellow Pages small business surveys

libraries

Internet

Chamber of Commerce

client surveys

industry reports

secondary market research (available research by other people)

primary market research such as:

telephone surveys

personal interviews

mail surveys


competitor offerings

competitor promotion strategies and activities

competitor profile in the market place


product

the good or service provided

product mix

the core product - what is bought

the tangible product - what is perceived

the augmented product - total package of consumer features/benefits

product differentiation from competitive products

new/changed products

price

pricing strategies (cost plus, supply/demand, ability to pay etc)

pricing objectives (profit, market penetration etc)

cost components

place

market position

distribution strategies

marketing channels

promotion

promotional strategies

target audience

communication

promotion budget


practice image

practice logo/letter head/signage

phone answering protocol

facility decor

slogans

templates for communication/invoicing

style guide

writing style

AIDA (attention, interest, desire, action)


features as perceived by the client

benefits as perceived by the client


networking and referrals

seminars

advertising

press releases

publicity and sponsorship

brochures

newsletters (print and/or electronic)

websites

direct mail

telemarketing/cold calling


raising charge out rates/fees

packaging fees

reduce discounts

sell more services to existing clients

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

To achieve competency in this unit, a person must be able to demonstrate:

ability to identify the key market data for the practice
knowledge of a wide range of available information sources
ability to acquire information not readily available within a practice
ability to analyse data and determine areas of improvement for practice
ability to negotiate required improvements to ensure implementation
ability to evaluate systems against practice requirements and form recommendations and/or make recommendations
ability to assess the accuracy and relevance of information

Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Context of assessment:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:
Assessment of this unit of competence requires access to relevant legislation, regulations and codes of practice.