Market Analysis
Competency Title:
Market Analysis
Competency Type:
Functional
Competency Description
This competency refers to the ability to analyse and interpret market conditions at macro level that have impact on business and industries. The scope includes analysing political, economic, socio-cultural, technological and regulatory factors.
Level 1 - Awareness
Level 1
• Identify market drivers that are likely to influence market condition.
• Recognise the different types of market analysis approaches.
• Recognise the various purposes of conducting market analysis.
Level 2 - Knowledge
Level 2
• Define the critical relationships between market drivers and the business or industries.
• Differentiate the different market analysis techniques.
• Explain the suitability of the different analysis to forecast specific market condition.
Level 3 - Skill
Level 3
• Select appropriate techniques to analyse market drivers and their impact to the business or industries.
• Apply the appropriate models and techniques to forecast market conditions.
• Examine the market conditions using suitable techniques to identify impact to the business or industries.
Level 4 - Mastery
Level 4
• Assess the predictability and impact of key market drivers on future market condition.
• Establish the issues, decisions or key variables to be considered in the forecasting of market conditions.
• Test the strategies and business plans under each market condition using appropriate criteria.
Level 5 - Expert
Level 5
• Evaluate the suitability and effectiveness of techniques used to analyse market drivers.
• Evaluate effectiveness of the model applied to forecast future market conditions.
• Establish criteria for evaluating strategies and business plans against the different market conditions.