ELEMENT PERFORMANCE CRITERIA
1 . Identify trends and opportunities in the financial services industry 1.Information on current and emerging needs of the market and the organisation is analysed in consultation with others to identify marketing opportunities
2.The business plan is reviewed to identify organisational objectives
3.Emerging trends and external influences on the financial services industry are identified
4.Opportunities to enter, shape or influence current and/or potential markets are identified and researched
5.Potential new products are identified and researched
6.Entrepreneurial, innovative approaches and creative ideas are explored for their potential business application and contribution to the business
2 . Investigate marketing and product development opportunities 1.Opportunities are identified and analysed in terms of their likely fit with the organisation's goals and capabilities
2.Opportunities are evaluated to determine its impact on current business and customer base
3.An assessment of external factors, costs, benefits, risks and opportunities is used to determine the financial viability of each marketing opportunity
4.Probable returns on investment and potential competitors are determined
5.Marketing opportunities are described and ranked in terms of their viability and likely contribution to the business
3 . Assess legislative compliance of marketing opportunities 1.Legislative and regulatory guidelines applicable to marketing opportunities are identified
2.Marketing opportunities are examined for compliance with relevant legislation
3.Marketing opportunities not meeting compliance requirements are rejected or modified accordingly
4.Marketing proposals clearly define relevant legislative compliance issues
4 . Evaluate required changes to current operations 1.Changes needed to current operations to take advantage of viable marketing opportunities are identified and documented
2.Organisational changes which manage an increased/different customer base include provision for continued quality of service to existing customers
3.Resource requirements for changed operations are identified
4.The viability of making changes to current operations is determined and communicated to key stakeholders
5 . Develop marketing proposals 1.Marketing concepts are clearly described and defined
2.Viability assessments for marketing concepts are provided
3.Marketing strategy is detailed
4.Proposals are prepared in a manner that assists in the decision making process for marketing development
5.Additional information is provided to support marketing proposals as required
