Unit of competency details

BSBSMB403 - Market the small business (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 14/Jan/2016
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBSMB403A - 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
SIT - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-1.1 
MSF - Furnishing Training PackageFurnishing Training Package 2.0-3.1 
ICP - Printing and Graphic ArtsPrinting and Graphic Arts 2.0 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0-3.0 
CPP07 - Property Services Training PackageProperty Services Training Package 14.4-14.5 
BSB - Business Services Training PackageBusiness Services Training Package 2.0 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 1.0-1.1 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
SIT50316 - Diploma of Event ManagementDiploma of Event Management 
SIT50216 - Diploma of Holiday Park and Resort ManagementDiploma of Holiday Park and Resort Management 
SIS40215 - Certificate IV in FitnessCertificate IV in Fitness 
SHB50216 - Diploma of Salon ManagementDiploma of Salon Management 
SHB50115 - Diploma of Beauty TherapyDiploma of Beauty Therapy 
SHB30315 - Certificate III in Nail TechnologyCertificate III in Nail Technology 
SHB30215 - Certificate III in Make-UpCertificate III in Make-Up 
SFL50115 - Diploma of Floristry DesignDiploma of Floristry Design 
SFL40115 - Certificate IV in FloristryCertificate IV in Floristry 
RII40915 - Certificate IV in Drilling OperationsCertificate IV in Drilling 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  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 2

This version released with BSB Business Services Training Package Version 2.0.

Version created to clarify intent

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to monitor and improve business performance via a clear marketing strategy integrated into the business plan.

It applies to individuals who operate a small business independently or within a larger organisation. Individuals in this role analyse and interpret market data.

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

Unit Sector

Management and Leadership – Small and Micro Business

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Develop marketing strategies

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

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

1.3 Conduct a competitor analysis to inform development of marketing strategies

1.4 Determine marketing objectives in consultation with relevant people and in accordance with the business plan

1.5 Ensure strategies are ethically and culturally appropriate and aligned with customer and industry expectations

2. Determine a marketing mix for the business

2.1 Assess product mix, volumes and pricing opportunities to determine marketing focus and optimise profit

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

2.3 Determine marketing and promotional activities including the role of digital engagement to suit target market

2.4 Consider the customer journey and conversations in determining marketing mix

3. Implement marketing strategies

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

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

3.3 Consider digital devices, platforms and technologies for effectiveness in implementing marketing activities

4. Monitor and improve marketing performance

4.1 Monitor marketing activities and evaluate business performance according to 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 and expectations in both on-line and off-line environments to identify opportunities for change and improvement

4.6 Identify and respond to opportunities to aid business development through new technologies and different ways of marketing

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.3, 2.2-2.4, 3.2, 4.1, 4.4, 4.6

  • Identifies, analyses and evaluates complex information from a range of sources

Writing

1.3, 2.3, 2.5, 3.1, 3.2, 4.4-4.6

  • Prepares reports and other workplace documentation using structure, layout and terminology appropriate to the audience

Oral Communication

1.3, 3.1, 4.3, 4.4

  • Presents ideas and requirements clearly and using language and non-verbal techniques appropriate to audience and environment
  • Uses questioning and listening to check and confirm understanding

Numeracy

2.1, 2.2, 3.2, 4.2

  • Analyses numerical information to determine budgetary requirements and product quantities
  • Uses a range of calculation methods to evaluate costs and benefits

Navigate the world of work

4.5

  • Regularly reviews current situation and develops strategies to address improvements in marketing performance

Interact with others

4.3

  • Recognises importance of building rapport to establish effective working relationships

Get the work done

1.1-1.3, 2.1-2.5, 3.2, 4.1, 4.2

  • Takes responsibility for planning and organising own workload, identifying ways of sequencing and combining elements for greater efficiency
  • Implements actions as per plan, making slight adjustments if necessary and addressing some unexpected issues
  • Makes a range of critical and non-critical decisions in relatively complex situations, taking a range of constraints into account
  • Identifies concepts, principles and features of approaches in use in other contexts, and redesigns these to suit own situation
  • Uses formal and informal processes to monitor implementation of solutions and reflect on outcomes

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBSMB403 Market the small business Release 2

BSBSMB403 Market the small business Release 1

Updated to clarify intent

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Release 2

This version first released with BSB Business Services Training Package Version 2.0.

Version created to clarify intent of unit

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • determine marketing activity focus in line with objectives of the business plan
  • evaluate customer base
  • understand what is ethically and culturally appropriate
  • determine a marketing mix according to market and business needs, including:
  • ability to optimise sales and profit
  • ability to evaluate costs and benefits
  • determine customer needs and promotional activities
  • determine marketing strategies, including briefing appropriate personnel on their responsibilities
  • identify marketing opportunities in the digital environment
  • develop approaches to engage, respond and monitor customers in the digital space
  • monitor and evaluate activities and performance, and correct performance gaps
  • consult and communicate effectively with relevant people
  • research and monitor ongoing changes and improvements.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • discuss industry market trends
  • identify performance evaluation methods
  • explain methods of analysing costs and benefits of marketing strategies
  • summarise methods of developing marketing objectives and marketing mix
  • compare current digital devices, platforms and technologies for effectiveness in achieving marketing objectives
  • outline methods of monitoring customer satisfaction
  • identify relevant market analysis and research
  • provide a detailed explanation of relevant marketing concepts and methods.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the Management and Leadership – Small and Micro Business field of work and include access to:

  • business technology
  • software for analysis of data
  • workplace documents and case studies or where possible, real situations
  • interaction with others.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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