This unit describes the skills and knowledge required to monitor and improve business performance via a clear marketing strategy integrated into the business plan.
It applies to individuals who operate a small business independently or within a larger organisation. Individuals in this role analyse and interpret market data.
Topics:
- Develop marketing strategies
- Determine a marketing mix for the business
- Implement marketing strategies
- Monitor and improve marketing performance
Upon successful completion of this unit, you will:
- 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
Demonstrate knowledge of:
- industry market trends
- performance evaluation methods
- methods of analysing costs and benefits of marketing strategies
- methods of developing marketing objectives and marketing mix
- current digital devices, platforms and technologies for effectiveness in achieving marketing objectives
- methods of monitoring customer satisfaction
- relevant market analysis and research
- relevant marketing concepts and methods
Nominal Hours: 50
