Small business marketing

BSBSMB403 Market the small business.

This unit is about monitoring and improving business performance via a clear marketing strategy integrated into the business plan. It applies to operators of independent small businesses or managers of sections within a larger organization.

How you will be assessed

You will be assessed through:

Specific documents Submit a fully researched marketing plan according to the requirements below. It can be part of a business plan.

 

Practical

You will be assessed in the workplace as a safe environment. You will need to demonstrate consistent performance of typical activities as a small business manager. You will need access to:

  1. business technology.
  2. software for analyzing data.
  3. interaction with others.
  4. workplace documents and case studies or where possible, real situations.

You will need to show that you can:

  1. Determine marketing activity focus in line with objectives of the business plan.
  2. Evaluate your customer base.
  3. Understand what is ethically and culturally appropriate.
  4. Determine customer needs and promotional activities.
  5. Determine a marketing mix, including:
    1. Fits market and business needs
    2. Optimizes sales and profit.
  6. Evaluate the costs and benefits of the marketing mix.
  7. Determine marketing strategies, including briefing appropriate personnel on their responsibilities.
  8. Identify marketing opportunities in the digital environment.
  9. Develop approaches to engage, respond and monitor customers in the digital space.
  10. Monitor and evaluate activities and performance, and correct performance gaps.
  11. Consult and communicate effectively with relevant people.
  12. Research and monitor ongoing changes and improvements.

 

Assignment/interview questions

  1. Discuss industry market trends.
  2. Identify performance evaluation methods.
  3. Explain methods of analyzing costs and benefits of marketing strategies.
  4. Summarize methods of developing marketing objectives and marketing mix.
  5. Compare current digital devices, platforms and technologies for effectiveness in achieving marketing objectives.
  6. Outline methods of monitoring customer satisfaction.
  7. Identify relevant market analysis and research.
  8. Give a detailed explanation of relevant marketing concepts and methods.

Note: Your assessor may also ask you a variety of what if questions.

 

Detailed requirements

1. Develop marketing strategies.

  1. Analyze the business and its key products or services to determine focus of marketing activities, according to objectives of the business plan.
  2. Evaluate customer base and target market for the small business as a basis for marketing objectives and strategies.
  3. Analyze competitor to inform development of marketing strategies.
  4. Determine marketing objectives in consultation with relevant people and according to the business plan.
  5. Ensure strategies are ethically and culturally appropriate and aligned with customer and industry expectations.

2. Determine a marketing mix for the business.

  1. Assess product mix, volumes and pricing opportunities to determine marketing focus and optimize profit.
  2. Evaluate the costs and benefits of using different distribution channels or different levels of customer service, and consider the results in determining a marketing mix.
  3. Decide on you marketing and promotional activities, including the role of digital engagement to suit target market.
  4. Consider the customer journey and conversations in determining marketing mix.

3. Implement marketing strategies.

  1. Brief those involved in the marketing effort on their roles and responsibilities, to ensure success of marketing strategies.
  2. Plan and implement marketing activities, according to marketing objectives and budgetary requirements.
  3. Consider digital devices, platforms and technologies for effectiveness in implementing marketing activities.

4. Monitor and improve marketing performance.

  1. Monitor marketing activities and evaluate business performance according to objectives and targets of the business plan.
  2. Analyze performance gaps and take corrective action or set new targets.
  3. Encourage all relevant people to propose ways to improve marketing performance.
  4. Ask for and analyze customer reaction to all aspects of the marketing mix, using culturally appropriate processes, to improve targeting and outcomes.
  5. Do ongoing research of customer requirements and expectations in both on-line and off-line environments to identify opportunities for change and improvement.
  6. Identify and respond to opportunities to aid business development through new technologies and different ways of marketing.