NZQA Expiring unit standard
24768 version 2
Page 1 of 4
Title
Implement a sales plan for financial products and/or services in the
financial services industry
Level
4
Credits
5
Purpose
People credited with this unit standard are able to, in the
financial services industry:
– implement promotional strategy for financial products and/or
services;
– prepare distribution channels for financial products and/or
services; and
– monitor and review sales plan implementation for financial
products and/or services.
Classification
Financial Services > Financial Services - Relationship
Management
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSICSAM402B, Implement a sales plan available at http://ntis.gov.au. This is
supported and endorsed by the Australian standard setting body Innovation and
Business Services Australia and ETITO (ElectroTechnology Industry Training
Organisation).
2
Assessment against this unit standard may be on job, or off job in a simulated work
environment or a combination of these within the financial services industry context.
3
References
New Zealand Bill of Rights Act 1990;
Commerce Act 1986;
Companies Act 1993;
Consumer Guarantees Act 1993;
Credit Contracts and Consumer Finance Act 2003;
Electronic Transactions Act 2002;
Fair Trading Act 1986;
Financial Reporting Act 1993;
Financial Transactions Reporting Act 1996;
Health and Safety in Employment Act 1992;
Human Rights Act 1993;
Income Tax Act 2007;
KiwiSaver Act 2006;
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards)
available from http://www.nzica.com;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24768 version 2
Page 2 of 4
Privacy Act 1993;
Securities Act 1978;
Securities Markets Act 1988;
Superannuation Schemes Act 1989;
Trustee Act 1956;
Trustee Amendment Act 1988;
industry codes of practice;
and all subsequent amendments and replacements.
4
All activities must comply with any policies, procedures, and requirements of the
organisations involved; the standards of relevant professional bodies including codes
of ethics; and any relevant legislative and/or regulatory requirements.
5
Definition
Financial product and/or service – such as savings, investment, loans,
superannuation, insurance, banking, other financial products and/or services.
Outcomes and evidence requirements
Outcome 1
Implement a promotional strategy for financial products and/or services in the financial
services industry.
Evidence requirements
1.1
Sales plan is analysed to clarify the promotional strategy and sales targets.
1.2
Promotional package is created to meet the requirements of the sales plan and
enhance the business corporate image, and satisfy all relevant legislation,
regulations and codes of practice.
Range
1.3
may include – product and/or services brochures, customer
newsletters/bulletins, promotional products or give-aways, third
party services, media advertising (radio, television, newspapers,
trade journals, direct marketing, online).
Promotional strategy is implemented within budget and in the timeframes
specified.
Outcome 2
Prepare distribution channels for financial products and/or services in the financial services
industry.
Evidence requirements
2.1
Distribution channels are identified and agreements for selling financial products
and/or services are reached in accordance with the sales targets.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24768 version 2
Page 3 of 4
distribution channels may include but are not limited to – financial
advisers, brokers, common interest groups, agents, existing
customers, associations, telemarketing, online.
Range
2.2
Training of personnel is arranged to develop their financial product and service
knowledge and to ensure quality customer service is maximised.
2.3
Promotional materials are distributed to sales people and distribution channels
within appropriate timeframes.
Outcome 3
Monitor and review sales plan implementation for financial products and/or services in the
financial services industry.
Evidence requirements
3.1
Criteria to measure the effectiveness of the promotional strategy are
established in accordance with sales plan objectives.
3.2
Performance criteria for sales staff and distribution channels are established
that enable monitoring of attainment of forecast sales target.
criteria may include – volume of sales, surveys of awareness of
products and/or services, meeting targets, new customers,
retention rates.
Range
3.3
Results of monitoring against criteria are used to review promotional strategy or
financial product and/or service distribution to ensure the required result is
being obtained.
3.4
Feedback on the implementation of the sales plan and promotional strategy is
contributed to the sales planning process.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
20 June 2008
31 December 2017
Review
2
18 June 2014
31 December 2017
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24768 version 2
Page 4 of 4
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016