BSBESB404 - Market new business ventures

Unit code: BSBESB404 | Study level: TAFE

Credit points

N/A

Location

Footscray Park

Werribee

Prerequisites

N/A

Overview

This unit describes the skills and knowledge required to develop and implement a marketing strategy that is integrated into the business plan in order to improve the performance of a business venture. It involves analysing and interpreting market data.The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each unit’s learning outcomes & performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

develop and implement a marketing strategy for a business or new business venture, addressing activities in the digital environment.

Students will also be expected to demonstrate the following knowledge:

workplace processes and procedures for:

developing marketing objectives and marketing mix
identifying industry market trends relating to marketing new business ventures
communicating roles and responsibilities in marketing strategies to those involved

key features of a marketing mix that addresses market and business venture needs and:

optimises sales and profit
evaluates costs and benefits
determines customer needs and promotional activities
ethically and culturally appropriate practices relating to marketing new business ventures
performance evaluation methods relating to marketing strategies

methods of:

analysing costs and benefits of marketing strategies
monitoring customer satisfaction
conducting market analysis and research

key features of current digital devices, platforms and technologies that achieve marketing objectives by engaging, responding to and monitoring customers.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the VU Polytechnic and/or via the VU Polytechnic e-learning system.