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Evidence Guide: BSBSMB403 - Market the small business

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBSMB403 - Market the small business

What evidence can you provide to prove your understanding of each of the following citeria?

Develop marketing strategies

  1. Analyse the business and its key products or services to determine focus of marketing activities, in accordance with 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. Conduct a competitor analysis to inform development of marketing strategies
  4. Determine marketing objectives in consultation with relevant people and in accordance with the business plan
  5. Ensure strategies are ethically and culturally appropriate and aligned with customer and industry expectations
Analyse the business and its key products or services to determine focus of marketing activities, in accordance with objectives of the business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct a competitor analysis to inform development of marketing strategies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine a marketing mix for the business

  1. Assess product mix, volumes and pricing opportunities to determine marketing focus and optimise profit
  2. Evaluate costs and benefits of using different distribution channels or providing different levels of customer service, and consider results in determining marketing mix
  3. Determine 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
Assess product mix, volumes and pricing opportunities to determine marketing focus and optimise profit

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider the customer journey and conversations in determining marketing mix

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and improve marketing performance

  1. Monitor marketing activities and evaluate business performance according to objectives and targets of the business plan
  2. Analyse performance gaps and take corrective action or set new targets
  3. Encourage all relevant people to propose ways to improve marketing performance
  4. Seek and analyse customer reaction to all aspects of the marketing mix, using culturally appropriate processes, to improve targeting and outcomes
  5. Conduct 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
Monitor marketing activities and evaluate business performance according to objectives and targets of the business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse performance gaps and take corrective action or set new targets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Encourage all relevant people to propose ways to improve marketing performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct ongoing research of customer requirements and expectations in both on-line and off-line environments to identify opportunities for change and improvement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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

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.

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.