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
• 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
• 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
• 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
• 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
• 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.