Unit 1: Understand the Market in which an Organisation Operates
Unit reference number: H/504/2230
Level: 4
Credit value: 5
Guided learning hours: 29
Unit aim
This unit has been devised to assess learners’ ability to examine their own organisation and the market within which it operates. They should understand how to evaluate the strengths and weaknesses of the operation in the context of emerging trends and consumer demands in hospitality services. They are also required to demonstrate that they know how to present coherent and well- structured reports on analysis to colleagues.
Unit introduction
The hospitality industry is a dynamic industry in which organisations sell products and services to increasingly informed customers. By reviewing an organisation and the market it operates in, there is an opportunity to benchmark activities and outcomes against those of other organisations. An understanding of customer needs and the characteristics of the hospitality market can inform the decision-making process in relation to future planning. Organisations within the hospitality industry need to analyse their market sector regularly to remain up to date and competitive within emergent and challenging markets.
Learning outcomes and assessment criteria
In order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes for the unit. The assessment criteria determine the standard required to achieve the unit.
On completion of this unit a learner should:
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Learning outcomes
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Assessment criteria
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1 Understand how customer needs
can be identified
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1.1
Describe the economic environment in which own organisation operates
1.2
Describe the needs of customers who use own organisation’s products and services
1.3
Explain how to analyse customer perception of own organisation’s products and services in comparison to competitors
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2 Understand the characteristics of hospitality markets
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2.1
Describe potential trends and developments in the hospitality market
2.2
Identify characteristics of service styles used within
the hospitality industry
2.3
Explain the benefits and limitations of service styles
to the organisation
2.4
Describe how own organisation responds to hospitality market characteristics
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3 Understand how to implement a market
analysis
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3.1
Identify current and future macro- and micro-environment trends in own sector
3.2
Describe current market trends and opportunities
for growth relevant to own organisation
3.3
Identify direct and indirect competitors to own organisation’s offer
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4 Understand how to report research findings to inform managerial decisions
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4.1
Report research findings to key individuals within own organisation
4.2
Evaluate feedback on report findings from key individuals
4.3
Describe methods used to communicate updates
to reports to key individuals
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