explore and develop entrepreneurial innovative or creative options one for each opportunity to apply to apply the marketing opportunities in the context of the organisation
for example if you identify an e-commerce opportunity to the organisation including aspects such as media web-design to appeal to target markets , integration with existing operations marketing strategy and overall strategic directions
Elements and Performance Criteria
ELEMENT PERFORMANCE CRITERIA
1. Identify marketing
opportunities
1.1.Analyse information on market and business needs
to identify marketing opportunities
1.2.Research potential new markets and assess
opportunities to enter, shape or influence the market
in terms of likely contribution to the business
1.3.Explore entrepreneurial, innovative approaches and
creative ideas for their potential business application,
and develop into potential marketing opportunities
2. Investigate marketing
opportunities
2.1.Identify and analyse opportunities in terms of their
likely fit with organisational goals and capabilities
2.2.Evaluate each opportunity to determine its impact
on current business and customer base
2.3.Use an assessment of external factors, costs,
benefits, risks and opportunities to determine the
financial viability of each marketing opportunity
2.4.Determine probable return on investment and
potential competitors
2.5.Describe and rank marketing opportunities in terms
of their viability and likely contribution to the
business
3. Evaluate required
changes to current
operations
3.1.Identify and document changes needed to current
operations to take advantage of viable marketing
opportunities
3.2.Ensure organisational changes to service an
increased or different customer base include
provision for continued quality of service to existing
customers
3.3.Estimate resource requirements for changed
operations
3.4.Determine and communicate viability of making
changes to current operations to key stakeholders
3.5.Document newly identified marketing opportunities
and required changes