Unit of competency Outline
Date retreived
23/07/2026 4:56 PM AWST
23/07/2026 4:56 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Market new business ventures
Market new business ventures
Unit of competency
National Code
BSBESB404
BSBESB404
State Code
OCG11
OCG11
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080505 - Marketing
Original Release Date
16/03/2021
Nominal Hours
45
Description
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. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Develop marketing strategy for business venture
- 1.1 Identify focus of marketing activities according to business plan objectives and products and/or services being provided
- 1.2 Establish marketing objectives in consultation with required people and according to business plan and workplace procedures
- 1.3 Identify customer base, target market and competitors according to identified marketing objectives
- 1.4 Establish and evaluate strategy to ensure ethical and cultural appropriateness and alignment with customer and industry expectations
2. Establish marketing mix for the business venture
- 2.1 Assess product mix, volumes and pricing opportunities according to marketing focus and business plan objectives
- 2.2 Research and evaluate costs and benefits of available distribution channels and customer service strategies
- 2.3 Select marketing and promotional activities to suit target market and according to marketing strategies
- 2.4 Analyse customer journey to evaluate marketing mix
3. Implement marketing strategy
- 3.1 Plan marketing activities according to marketing objectives and strategy and budgetary requirements
- 3.2 Communicate roles and responsibilities to required people according to marketing plan and workplace procedures
- 3.3 Monitor implementation of marketing activities according to marketing plan
- 3.4 Assess use of digital devices, platforms and technologies for effectiveness in implementing marketing activities
4. Evaluate marketing performance
- 4.1 Assess business performance according to business plan objectives
- 4.2 Develop a plan to address performance gaps
- 4.3 Analyse stakeholder response to all aspects of marketing mix to improve targeting and outcomes
- 4.4 Assess changes in customer requirements in both online and offline environments, where applicable, and identify opportunities for improvement
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUM00 | BSBSMB409 | Build and maintain relationships with small business stakeholders | Unit of competency |
| AUL85 | BSBSMB403 | Market the small business | Unit of competency |