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Assessor Marking Guide BSBESB404 Market New Business Ventures V1.0-23 SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 2 Disclaimer This guide contains information that is correct at the time of printing. Changes to legislation and/or training products may impact on the currency of information included. The training provider reserves the right to vary and update information without notice. Readers are advised to seek any changed information and/or updates from the training provider. This guide has been prepared as a resource to assist assessors to understand the competency requirements of the assessment tools. All assessors must read, understand, be familiar with, and follow the instructions, policies and procedures outlined in this guide. © 2023 Copyright Coast Wide Training Solutions: ABN: 3776 4517 692. This document is protected by copyright laws. It was designed and developed by Coast Wide Training Solutions and remains the sole property of Coast Wide Training Solutions. This document may not be reproduced in any way without the prior written authorisation of Coast Wide Training Solutions. This document was originally developed by Coast Wide Training Solutions but may now be altered from the original form. Coast Wide Training Solutions does not accept any liability for these resources and tools, the content and/or any reliance thereon. Any queries can be directed to: Coast Wide Training Solutions ABN: 3776 4517 692 1/45 Black Hill Road Black Hill, NSW, 2322 PH: 0425 353 277 E: jodie@coastwidetraining.com.au www.coastwidetraining.com.au Version Control Version: Date: Details of Changes: 1.0 March 2023 Initial release SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 3 Contents Contents ......................................................................................... 3 Assessor Marking Guide BSBESB404 - Market new business ventures (Release 1) ..... 4 Unit Application .............................................................................. 4 Elements and Performance Criteria ....................................................... 4 Performance Evidence ...................................................................... 5 Knowledge Evidence ........................................................................ 5 General Instructions ........................................................................... 7 Assessment Components ..................................................................... 7 Resources Required ......................................................................... 7 Assessment Practices .......................................................................... 8 Marking Criteria .............................................................................. 8 Submission of Assessments ................................................................ 8 Plagiarism and Copyright ................................................................... 8 Feedback ...................................................................................... 9 Reassessment ................................................................................ 9 Appeals Process .............................................................................. 9 Reasonable Adjustment ..................................................................... 9 Student Declaration ........................................................................... 10 Assessment 1 – Theory Questions ...........................................................11 Assessment 2 – Project .......................................................................24 Assessor Acknowledgement ................................................................. 39 SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 4 Assessor Marking Guide BSBESB404 - Market new business ventures (Release 1) Unit Application 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. Elements and Performance Criteria Element 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. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 11 Assessment 1 – Theory Questions Instructions This assessment has been designed to allow the student to demonstrate their knowledge and written communication skills. These questions form the underpinning theoretical knowledge of the unit of competency. Students will need to demonstrate a sound knowledge of the topic in their responses and answer all the questions provided. Students are required to answer all questions correctly to achieve a satisfactory result. They must read the questions and record their response in the space provided or indicate the correct response from a number of given options. Students are able to refer to the Learning Guide, workplace policies and procedures, workplace templates and other materials to complete this task. Question 1 What are the five (5) most common types of promotional activities you may use when marketing your business? Describe each of them. 1.1 Students’ answers will vary. However, it must include: i. Advertising - You can advertise your product, service or brand in newspapers, radio, television, magazines, outdoor signage and online. ii. Personal selling or telemarking - Effective personal selling relies on good interpersonal and communication skills, excellent product and service knowledge and the ability to sell product benefits. iii. Publicity - Created by sending media releases to print and broadcasting media, giving interviews to the media and from word-of-mouth. iv. Short-term sales promotions - Market your product or service using coupons, competitions, discounts. v. Direct marketing - Involves mailbox dropping or sending letters, emails, pamphlets, and brochures to individual target clients, often followed by personal selling or telemarketing. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 19 Question 21 For the following three (3) technologies used for marketing, list their key features for engaging, responding, and monitoring customers. 3.4,K6 Students’ answers will vary. However, it must include three (3) from the following for each: i. Social Media – YouTube • Over 315 million active users daily. • Strong audience across gender and age demographics. • Second most visited website in the world. • Brand awareness, long form entertainment and how to videos. ii. Paid Media • Instant results. • Easy to track. • Control over message and copy. • Easy to target high intent customers. iii. Search Engine Optimisation • Keyword analysis. • Backlink building. • Content creation. Question 22 Why would you use business plan objectives to assess your business performance? 4.1 Students’ answers will vary. However, it must include: Objectives are specific, quantifiable, time-sensitive statements of what is going to be achieved and when it will be achieved and are used to measure the business performance. Question 23 How could you identify performance gaps in your business? 4.2 Students’ answers will vary. However, it must include the words: Performance gap analysis. Question 24 What should be created before a performance gap analysis is undertaken? 4.2 Students’ answers will vary. However, it must include the words: Performance map. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 24 Assessment 2 – Project Instructions This assessment has been designed to assess the student’s practical application of the knowledge of this unit of competency. They will need to demonstrate a detailed knowledge of the topic in their responses and answer all the questions provided. Students are required to read the case study provided and complete all questions correctly to achieve a satisfactory result. They must read the question, referring to the case study and record their response in the space provided. Their written responses, unless otherwise stated, must be a minimum of 2 paragraphs. Students are able to refer to the Learning Guide, workplace policies and procedures, workplace templates and other materials to complete this task. Students must present the variety of documents and reports outlined in the tasks neatly in a digital portfolio with clearly labelled files and folders and submit securely via email to the assessor. Students are able to refer to the Student Learning Guide, workplace policies and procedures, workplace templates and other materials to complete this task. These tasks require students to develop and implement a Marketing Strategy/Plan for a business or new business venture. Each component of the Marketing Strategy/Plan has been broken up into five (5) smaller projects and tasks. Completion of all tasks within the five (5) projects, forms the students Marketing Strategy/Plan. Throughout the development of the Marketing Strategy/Plan, students must ensure ethical and cultural appropriateness and alignment with customers and industry expectations are taken into consideration. Students have two (2) options on how you are able to complete this task. Option 1 – Students use the following resources on the business, Coastal Coffee. • The background on the Coastal Coffee. • Coastal Coffee Strategic Plan 2022-2024 – selecting three (3) objectives. • Coastal Coffee Marketing Plan Template. Or Option 2 – Students use their own business or business idea to complete the following task. If students choose this option, they can use the template(s) provided, or use their own documents. If students are using their own documents, they must ensure they meet all the requirements set out in the resources provided for option 1. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 25 Project 1 - The Business • Task 1 - Business Overview.• Task 2 - Goals and Objectives.• Task 3 – S.W.O.T Analysis.Project 2 – Procedures and/or Services • Task 1 – Products and/Services.• Task 2 – Market Position.• Task 3 – Anticipated Demand.• Task 4 - Pricing Strategy.• Task 5 - Value to Customer.• Task 6 - Growth Potential.• Task 7 – Personnel.Project 3 – The Market • Task 1 – Unique Selling Point.• Task 2 – Customers.• Task 3 – Competitors.• Task 4 – Market Research and Analysis.• Task 5 – Marketing Strategy.• Task 6 – Advertising and Sales.• Task 7 – Social Media Strategy.• Task 8 – Monitoring Activities.• Task 9 – Sales Strategy.• Task 10 – Sales and Distribution Channels.• Task 11 – Business Performance.Project 4 – The Finances • Task 1 – Sales Forecast.• Task 2 – Price.• Task 3 – Expected Sales.• Task 4 – Marketing Budget.Project 5 – Marketing Strategy/Plan Summary • Task 1 – Marketing Strategy/Plan Summary.• Task 2 – Business Details.Participants responses will vary extensively for the following assessment tasks. Assessors are required to use their experience and professional judgment when assessing these assessment tasks. An example Business Plan has been provided; assessors can refer to this for clarification. Refer to Coastal Coffee’s website and the Resources tab for business documents relevant to Coastal Coffee for information and templates to complete the following assessments. To access the website, click on the link Coastal Coffee’s website, using the password ********** to enter the site. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 29 Task 5: Value to Customer • How do your customers view your products/services? • Are they a necessity, luxury, or something in between? Task 6: Growth Potential • What is the anticipated growth of the product in the future? • What will drive this growth? Task 7: Personnel Complete the following tasks in the Marketing Strategy template under the section titled, ‘Strategy Personnel’ Who will be involved in the development and implementation of the Marketing Strategy/Plan. Provide detail for: • Job title – e.g., Social Media Expert. • Name – Use simulated as required. • Responsibilities - What are the main responsibilities of this position? • Communication – How will you communicate this person’s role and responsibilities to them. SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 37 Project 5 – Marketing Strategy Summary The final project is the Marketing Strategy Summary. This project consists of two (2) tasks. Continuing the Marketing Strategy, you have been developing for either Coastal Coffee, or your own business/business idea, under the heading ‘Marketing Strategy Summary.’ Task 1: Marketing Strategy Summary The marketing strategy summary should be completed last and should be no longer than a page and focuses on why the business is going to be successful. Your answers should briefly summarise your more detailed answers provided throughout the body of your Marketing Strategy/Plan. Task 2: Business Details This assessment has been developed to replicate an actual Marketing Strategy/Plan, that you would develop for your own business. To complete the Marketing Strategy/Plan, provide details for the following: • Business name. • Business structure - Sole trader, partnership, trust, company. • ABN - Registered Australian Business Number. • CAN - Registered Australian Company Number, if applicable. • Business location - Main business location. • Date established - Date you started trading. • Business owner(s) - List all of the business owners. • Relevant owner experience - Briefly outline your experience and/or years in the industry and any major achievements/awards. Note: where you do not have the actual details, such as an ABN, provide simulated details. End of Assessment 2 SAMPLE

BSBESB404 Market New Business Ventures Assessor Marking Guide © 2023 Coast Wide Training Solutions | BSBESB404 Assessor Marking Guide V1.0-23 40 You must complete the Assessment Outcome Report and indicate if the student is Competent or Not Yet Competent. End of Assessor Marking Guide ASSESSMENT OUTCOME REPORT Unit of Competency: BSBESB404 - Market new business ventures Student Name: Student Declaration By signing below, I declare that my assessor and or/other Training staff have: ☐ Provided me with access to policies including the assessment policy/assessment appeals process; ☐ Explained the unit of competency, elements, and performance criteria that I studied in the course; ☐ Explained the assessment tasks, assessment criteria and the assessment due date(s) for this course; and ☐ Provided assistance during the study of this course (unit/s) when I requested help. By signing below, I declare that I: ☐ Hold a copy of this assignment in case the original is lost or damaged; ☐ Am submitting work for this assessment task that is my own and no other person has completed this assessment for me; and ☐ Have not copied any part of this assignment or product from any other learner’s work or from any other source, except where I have referenced any sources I used. I am submitting the following evidence to support my claim for competence. Yes No N/A Assessment 1 – Theory Questions ☐ ☐ ☐ Assessment 2 – Project 1 ☐ ☐ ☐ Assessment 2 – Project 2 ☐ ☐ ☐ Assessment 2 – Project 3 ☐ ☐ ☐ Assessment 2 – Project 4 ☐ ☐ ☐ Assessment 2 – Project 5 ☐ ☐ ☐ I have been provided with feedback on the evidence I have submitted. I have been informed of the assessment result and the reasons for the decision. Student Signature: Date: OFFICE USE ONLY – First Assessment Attempt The student has satisfactorily completed the following assessment components: Yes No N/A Assessment 1 – Theory Questions ☐ ☐ ☐ Assessment 2 – Project 1 ☐ ☐ ☐ Assessment 2 – Project 2 ☐ ☐ ☐ Assessment 2 – Project 3 ☐ ☐ ☐ Assessment 2 – Project 4 ☐ ☐ ☐ Assessment 2 – Project 5 ☐ ☐ ☐ Overall, the student was assessed as: Competent Achieved (20) ☐ Competency Not Achieved (30) ☐ Recognition of prior learning (51) ☐ Credit Transfer (60) ☐ Withdrawn/ discontinued (40) ☐ SAMPLE