Unit of competency details

BSBSMB403A - Market the small business (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 24/Sep/2008

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to BSBSMB403 - Market the small businessUpdated to meet Standards for Training Packages 24/Mar/2015

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
WRH06 - Hairdressing Training PackageHairdressing Training Package 2.2 
SIT12 - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-2.0 
SIS10 - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 1.2-3.1 
SIH11 - Hairdressing Training PackageHairdressing Training Package 1.0-2.0 
SIB10 - Beauty Training PackageBeauty Training Package 1.1-1.2 
SFL10 - Floristry Training PackageFloristry Training Package 1.0 
SFI11 - Seafood Industry Training PackageSeafood Industry Training Package 1.0-2.2 
RII09 - Resources and Infrastructure Industry Training PackageResources and Infrastructure Industry Training Package 2.0-3.2 
RII - Resources and Infrastructure Industry Training PackageResources and Infrastructure Industry Training Package 1.0-1.4 
RGR08 - Racing Training PackageRacing Training Package 1.0-2.0 
PRM04 - ASSET MAINTENANCE TRAINING PACKAGEASSET MAINTENANCE TRAINING PACKAGE 3.0 
MSF - Furnishing Training PackageFurnishing Training Package 1.0-1.3 
MEM05 - Metal and Engineering Training PackageMetal and Engineering Training Package 5.0-11.1 
LMT07 - Textiles, Clothing and Footwear Training PackageTextiles, Clothing and Footwear Training Package 3.1-4.1 
LMF02 - Furnishing Training PackageFurnishing Training Package 6.0-8.1 
ICP10 - Printing and Graphic ArtsPrinting and Graphic Arts 1.0-2.1 
FDF10 - Food ProcessingFood Processing 1.0-4.1 
CUV11 - Visual Arts, Crafts and Design Training PackageVisual Arts, Crafts and Design Training Package 1.0 
CUS09 - MusicMusic 1.1-1.2 
CUF07 - Screen and Media Training PackageScreen and Media Training Package 1.2 
CUE03 - Entertainment Training PackageEntertainment Training Package 3.1-3.2 
CUA11 - Live Performance Training PackageLive Performance Training Package 1.0 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 1.0 
CPP07 - Property Services Training PackageProperty Services Training Package 7.0-14.3 
CHC08 - Community Services Training PackageCommunity Services Training Package 3.0-4.2 
BSB07 - Business Services Training PackageBusiness Services Training Package 5.0-9.0 
AHC10 - Agriculture, Horticulture and Conservation and Land ManagementAgriculture, Horticulture and Conservation and Land Management 2.0-8.0 
ACM10 - Animal Care and ManagementAnimal Care and Management 1.0-3.0 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
WRH40209 - Certificate IV in TrichologyCertificate IV in Trichology 
WRH40109 - Certificate IV in HairdressingCertificate IV in Hairdressing 
SIT50412 - Diploma of Holiday Parks and ResortsDiploma of Holiday Parks and Resorts 1-3 
SIT50313 - Diploma of HospitalityDiploma of Hospitality 
SIT50312 - Diploma of HospitalityDiploma of Hospitality 1-3 
SIT50212 - Diploma of EventsDiploma of Events 1-2 
SIT40812 - Certificate IV in Holiday Parks and ResortsCertificate IV in Holiday Parks and Resorts 1-3 
SIT40713 - Certificate IV in PatisserieCertificate IV in Patisserie 
SIT40712 - Certificate IV in PatisserieCertificate IV in Patisserie 1-2 
SIT40613 - Certificate IV in Catering OperationsCertificate IV in Catering Operations 
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080505 Marketing  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080505 Marketing  25/Jul/2008 
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Modification History

Not applicable.

Unit Descriptor

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to develop and implement marketing strategies, and to monitor and improve market performance.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

Application of the Unit

Application of the unit 

This work is undertaken by individuals who operate a small business.

This unit is suitable for micro and small businesses or a department in a larger organisation.

Licensing/Regulatory Information

Not applicable.

Pre-Requisites

Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

1. Develop marketing strategies

1.1. Analyse the business and its key products or services to determine the focus of marketing activities, in accordance with the objectives of the business plan

1.2. Evaluate the customer base and target market for the small business as a basis for the marketing objectives and strategies 

1.3. Determine marketing objectives and strategies that are ethically and culturally appropriate, in consultation with relevant people  and in accordance with the business plan

2. Determine a marketing mix for the business

2.1. Balance product mix, volumes and pricing to optimise sales and profit

2.2. Evaluate the costs and benefits of using different distribution channels  and/or providing different levels of customer service  and consider the results in determining the marketing mix 

2.3. Determine promotional activities to suit the target market

2.4. Consider customer needs and preferences in determining the marketing mix

2.5. Determine the marketing mix according to market and business needs

3. Implement marketing strategies

3.1. Brief persons involved in the marketing effort on their roles and responsibilities, to ensure the success of marketing strategies

3.2. Plan and implement promotional activities , in accordance with marketing objectives and budgetary requirements

4. Monitor and improve marketing performance

4.1. Monitor marketing activities and evaluate business performance according to the objectives and targets of the business plan

4.2. Analyse performance gaps  and take corrective action or set new targets

4.3. Encourage all relevant people to propose ways to improve marketing performance

4.4. Seek and analyse customer reaction  to all aspects of the marketing mix, using culturally appropriate processes, to improve targeting and outcomes

4.5. Conduct ongoing research of customer requirements to identify opportunities for change and improvement

4.6. Monitor and investigate changes in the market for new opportunities to aid business development

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

  • communication skills to question, clarify and report
  • literacy and numeracy skills to research information, to analyse data and to interpret market data.

Required knowledge 

  • industry market trends
  • methods of analysing costs and benefits of marketing strategies
  • methods of developing marketing objectives and marketing mix
  • methods of monitoring customer satisfaction
  • relevant market analysis and research
  • relevant marketing concepts and methods.

Evidence Guide

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the following is essential:

  • developing a marketing strategy and choosing a marketing mix for the small business that are culturally appropriate and that complement the business plan
  • implementing and monitoring the marketing strategy/plan to optimise the chances of small business success
  • knowledge of relevant marketing concepts and methods.

Context of and specific resources for assessment 

Assessment must ensure:

  • access to relevant documentation
  • candidate's individual circumstances and work in the context of running a small business, are the basis for assessment.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

  • portfolio of evidence including marketing strategy and monitoring of marketing performance
  • oral or written questioning to assess knowledge of industry market trends
  • review of analysis of performance gaps and corrective action taken or new targets set
  • review of promotional activities implemented.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

  • BSBSMB404A Undertake small business planning.

Range Statement

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Marketing objectives and strategies  may include:

  • achieving lower costs of production and distribution than competitors
  • creating a very different product line or service so that the business becomes a class leader in the industry
  • distribution
  • pricing, presentation and display of products/services
  • product design and packaging
  • product range and mix
  • promotion and advertising
  • pursuing cost leadership and/or product differentiation within a specialist market segment

Relevant people  may include:

  • accountant or other specialist services
  • family members, work team members, sub-contractors, community members
  • franchise agency
  • financial backers, clients
  • owner/operator, partners, directors, shareholders
  • regulatory bodies
  • trade or industry associations

Distribution channels  may include:

  • dealer, re-seller, franchisee
  • distributor, delivery service, mail order, telesales
  • self-access, wholesale, retail

Levels of customer service  may include:

  • after sales service
  • one-on-one personal service
  • sales assistance for problems/queries only

Marketing mix  may include:

  • distribution
  • level of service
  • pricing
  • promotion
  • quality, range
  • safety features
  • technical features, design

Promotional activities  may include:

  • advertising in national, suburban or local newspapers
  • advertising on radio or television
  • canvassing
  • development of networks and strategic alliances
  • display posters
  • exhibitions, in-store promotions
  • involvement in community projects
  • mail drops
  • professional/industry journals
  • sponsorship
  • staff development programs to enhance customer service orientation
  • website
  • word of mouth, referral, testimonials

Performance gaps  may include:

  • over achievement of performance targets
  • under achievement of performance targets

Customer reaction  may be determined through:

  • customer meetings, focus groups
  • identification of new business opportunities
  • informal discussion
  • sales to contact ratio
  • survey/other feedback mechanisms
  • trend analysis

Unit Sector(s)

Unit sector 

Competency field

Competency field 

Management and Leadership - Small and Micro Business

Co-requisite units

Co-requisite units 

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