Elements and Performance Criteria
- Develop marketing strategies
- Analyse the business and its key products or services to determine the focus of marketing activities, in accordance with the objectives of the business plan
- Evaluate the customer base and target market for the small business as a basis for the marketing objectives and strategies
- Determine marketing objectives and strategies that are ethically and culturally appropriate, in consultation with relevant people and in accordance with the business plan
- Determine a marketing mix for the business
- Balance product mix, volumes and pricing to optimise sales and profit
- Evaluate the costs and benefits of using different distribution channels and/or providing different levels of customer service and consider the results in determining the marketing mix
- Determine promotional activities to suit the target market
- Consider customer needs and preferences in determining the marketing mix
- Determine the marketing mix according to market and business needs
- Implement marketing strategies
- Monitor and improve marketing performance
- Monitor marketing activities and evaluate business performance according to the objectives and targets of the business plan
- Analyse performance gaps and take corrective action or set new targets
- Encourage all relevant people to propose ways to improve marketing performance
- Seek and analyse customer reaction to all aspects of the marketing mix, using culturally appropriate processes, to improve targeting and outcomes
- Conduct ongoing research of customer requirements to identify opportunities for change and improvement
- Monitor and investigate changes in the market for new opportunities to aid business development