Modification History
Not applicable.
Unit Descriptor
This unit covers the development and implementation of marketing strategies and the monitoring and improvement of market performance. It is suitable for setting up or existing micro and small businesses or a department in a larger organisation.
This unit is related to BSBSBM404A Undertake business planning.
This unit covers the development and implementation of marketing strategies and the monitoring and improvement of market performance. It is suitable for setting up or existing micro and small businesses or a department in a larger organisation.
This unit is related to BSBSBM404A Undertake business planning.
Application of the Unit
Not applicable.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
Not applicable.
Elements and Performance Criteria Pre-Content
Not applicable.
Elements and Performance Criteria
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Elements and Performance Criteria |
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Element |
Performance Criteria |
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1 |
Develop marketing strategies |
1.1 |
The business and its key products or services are analysed to determine the focus of marketing activities in accordance with the objectives of the business plan |
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1.2 |
Customer base and target market for the business are evaluated as a basis for marketing strategies |
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1.3 |
Marketing objectives and strategies are determined in consultation with relevant people in accordance with the business plan |
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2 |
Determine a marketing mix for the business |
2.1 |
Product mix, volumes and pricing are balanced to optimise sales and profit |
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2.2 |
The costs and benefits of using different distribution channels and/or providing different levels of customer service are evaluated and the results considered in determining the marketing mix |
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2.3 |
Promotional activities are determined to suit the target market |
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2.4 |
Customer needs and preferences are considered in determining the marketing mix |
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2.5 |
Marketing mix is determined according to market and business needs |
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3 |
Implement marketing strategies |
3.1 |
Persons involved in the marketing effort are briefed on their roles and responsibilities to ensure the success of marketing strategies |
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3.2 |
Promotional activities are planned and implemented in accordance with marketing objectives and budgetary requirements |
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4 |
Monitor and improve marketing performance |
4.1 |
Ongoing monitoring of marketing activities and evaluation of business performance is conducted according to the objectives and targets of the business plan |
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4.2 |
Performance gaps analysed and corrective action taken or new targets set |
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4.3 |
All relevant people are encouraged to propose ways to improve marketing performance |
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4.4 |
Customer reaction to all aspects of the marketing mix is sought and analysed to improve targeting and outcomes |
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4.5 |
Ongoing research of customer requirements is conducted to identify opportunities for change and improvement |
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4.6 |
Changes in market opportunities are monitored and investigated for new business opportunities to aid business development |
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Required Skills and Knowledge
Not applicable.
Evidence Guide
The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competence for this unit. This is an integral part of the assessment of competence and should be read in conjunction with the Range of Variables.
Critical Aspects of Evidence
Ability to develop a marketing strategy and choice of marketing mix to complement the business plan
Ability to implement and monitor the marketing strategy/plan to optimise the chances of business success
Underpinning Knowledge *
* At this level the learner must demonstrate understanding of a broad knowledge base incorporating some theoretical concepts.
National, State/Territory and Local Government legislative requirements affecting business operation, especially in regard to Occupational Health and Safety and environmental issues, EEO, industrial relations and anti-discrimination
relevant marketing concepts and methods
relevant market analysis and research
methods of developing marketing objectives and marketing mix
methods of analysing costs and benefits of marketing strategies
methods of monitoring customer satisfaction
industry market trends
Underpinning Skills
literacy and numeracy skills to research information and to interpret market data
communication including questioning, clarifying, reporting
numeracy skills for data analysis
ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context /s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range of Variables
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment Add in additional industry requirements if appropriate
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting , analysing and organising information (Level 2) - to develop marketing strategies
Communicating ideas and information (Level 2) - to consult with relevant people
Planning and organising activities (Level 3) - to implement to marketing strategy
Working with teams and others (Level 2) - to gain support for the plan
Using mathematical ideas and techniques (Level 2) - to research market needs
Solving problems (Level 3) - to determine the optimum marketing mix
Using technology (Level 2) - to optimise business performance
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competence for this unit. This is an integral part of the assessment of competence and should be read in conjunction with the Range of Variables.
Critical Aspects of Evidence
Ability to develop a marketing strategy and choice of marketing mix to complement the business plan
Ability to implement and monitor the marketing strategy/plan to optimise the chances of business success
Underpinning Knowledge *
* At this level the learner must demonstrate understanding of a broad knowledge base incorporating some theoretical concepts.
National, State/Territory and Local Government legislative requirements affecting business operation, especially in regard to Occupational Health and Safety and environmental issues, EEO, industrial relations and anti-discrimination
relevant marketing concepts and methods
relevant market analysis and research
methods of developing marketing objectives and marketing mix
methods of analysing costs and benefits of marketing strategies
methods of monitoring customer satisfaction
industry market trends
Underpinning Skills
literacy and numeracy skills to research information and to interpret market data
communication including questioning, clarifying, reporting
numeracy skills for data analysis
ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context /s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range of Variables
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment Add in additional industry requirements if appropriate
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting , analysing and organising information (Level 2) - to develop marketing strategies
Communicating ideas and information (Level 2) - to consult with relevant people
Planning and organising activities (Level 3) - to implement to marketing strategy
Working with teams and others (Level 2) - to gain support for the plan
Using mathematical ideas and techniques (Level 2) - to research market needs
Solving problems (Level 3) - to determine the optimum marketing mix
Using technology (Level 2) - to optimise business performance
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Range Statement
The Range Statement provides advice to interpret the scope and context of this unit of competence, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:
Legislation , codes and national standards relevant to the workplace which may include :
award and enterprise agreements and relevant industrial instruments
National, State/Territory and Local Government legislative requirements affecting business operation, especially in regard to Occupational Health and Safety and environmental issues, EEO, industrial relations and anti-discrimination
relevant industry codes of practice
Marketing strategies may include :
product design and packaging
pricing, presentation and display of products/services
promotion and advertising
product range and mix
distribution
achieving lower costs of production and distribution than competitors
pursuing cost leadership and/or product differentiation within a specialist market segment
creating a very different product line or service so that the business becomes a class leader in the industry
Relevant people may include :
owner/operator, partners
financial backers, clients
accountant or other specialist services
family members, work team members, sub-contractors
franchise agency
trade or industry associations
regulatory bodies
Marketing mix may include :
technical features, design
quality, range
safety features
pricing
promotion, distribution
level of service
Distribution channels may include :
self-access, wholesale, retail
distributor, delivery service, mail order, telesales
dealer, re-seller, franchisee
Level of customer service may include :
sales assistance for problems/queries only
one-on-one personal service
after sales service
Promotional activities may include :
advertising in national suburban or local newspapers
web site
word of mouth, referral, testimonials
professional/industry journals
advertising on radio or television
mail drops
display posters
canvassing and telephone canvassing
exhibitions, in-store promotions
sponsorship
the development of networks and strategic alliances
staff development programs to enhance customer service orientation
Performance gaps may include :
under or over achievement of performance targets
Customer reaction may be determined through :
survey/other feedback mechanisms
informal discussion
customer meetings, focus groups
sales to contact ratio
trend analysis
identification of new business opportunities
The Range Statement provides advice to interpret the scope and context of this unit of competence, allowing for differences between enterprises and workplaces. It relates to the unit as a whole and facilitates holistic assessment. The following variables may be present for this particular unit:
Legislation , codes and national standards relevant to the workplace which may include :
award and enterprise agreements and relevant industrial instruments
National, State/Territory and Local Government legislative requirements affecting business operation, especially in regard to Occupational Health and Safety and environmental issues, EEO, industrial relations and anti-discrimination
relevant industry codes of practice
Marketing strategies may include :
product design and packaging
pricing, presentation and display of products/services
promotion and advertising
product range and mix
distribution
achieving lower costs of production and distribution than competitors
pursuing cost leadership and/or product differentiation within a specialist market segment
creating a very different product line or service so that the business becomes a class leader in the industry
Relevant people may include :
owner/operator, partners
financial backers, clients
accountant or other specialist services
family members, work team members, sub-contractors
franchise agency
trade or industry associations
regulatory bodies
Marketing mix may include :
technical features, design
quality, range
safety features
pricing
promotion, distribution
level of service
Distribution channels may include :
self-access, wholesale, retail
distributor, delivery service, mail order, telesales
dealer, re-seller, franchisee
Level of customer service may include :
sales assistance for problems/queries only
one-on-one personal service
after sales service
Promotional activities may include :
advertising in national suburban or local newspapers
web site
word of mouth, referral, testimonials
professional/industry journals
advertising on radio or television
mail drops
display posters
canvassing and telephone canvassing
exhibitions, in-store promotions
sponsorship
the development of networks and strategic alliances
staff development programs to enhance customer service orientation
Performance gaps may include :
under or over achievement of performance targets
Customer reaction may be determined through :
survey/other feedback mechanisms
informal discussion
customer meetings, focus groups
sales to contact ratio
trend analysis
identification of new business opportunities
Unit Sector(s)
Not applicable.
