BSBSBM403A Promote the business

Release: 1

BSBSBM403A Promote the business

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

Elements and Performance Criteria
Element	Performance Criteria
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
1.2	Customer base and target market for the business are evaluated as a basis for marketing strategies
1.3	Marketing objectives and strategies are determined in consultation with relevant people in accordance with the business plan
2	Determine a marketing mix for the business	2.1	Product mix, volumes and pricing are balanced to optimise sales and profit
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
2.3	Promotional activities are determined to suit the target market
2.4	Customer needs and preferences are considered in determining the marketing mix
2.5	Marketing mix is determined according to market and business needs
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
3.2	Promotional activities are planned and implemented in accordance with marketing objectives and budgetary requirements
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
4.2	Performance gaps analysed and corrective action taken or new targets set
4.3	All relevant people are encouraged to propose ways to improve marketing performance
4.4	Customer reaction to all aspects of the marketing mix is sought and analysed to improve targeting and outcomes
4.5	Ongoing research of customer requirements is conducted to identify opportunities for change and improvement
4.6	Changes in market opportunities are monitored and investigated for new business opportunities to aid business development

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.