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BSBESB404 Market New Business Ventures (Release 1)SAMPLE

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3Coastal CoffeeCoastal Coffee is a fictional café, developed by Coast Wide Training Solutions for the course BSBESB404 Market New Business Ventures. Throughout your learning, you can refer to this website for ideas and to access resources that will assist you with the completion of learning activities and assessment tasks. To access the website, go to Coastal Coffee’s website, and use the password ********* to enter the site. Resources associated with the business Coastal Coffee can be found under the ‘Resources’ tab. Look around the website to see what a business website may contain. SAMPLE

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Topic 1 – Development of Marketing Strategies for BusinessBy the end of this topic, the student should be able to: Identify the focus of marketing activities according to a business plans objectives, services, or products. Establish marketing objectives in consultation with others. Identification of customer bases, target market and competitors in accordance with business plans and workplace procedures. Establish and evaluate strategies to ensure ethical and cultural appropriateness. Establish and evaluate strategies in alignment with customer and industry expectations.SAMPLE

11Your BusinessA business exists because it has essential products and/or services that meet the needsand wants of customers.A product is something that is tangible while a service is something that is intangible.Products are those that are manufactured, stored, marketed, and sold to customerssuch as cars, clothes, and furniture.Services are the output of people which can either be individualistic or collectiveperformance or action. Examples of services include, but not limited to:• Providing a facial or massage.• Delivering training and assessment.• Building a fence or house.SAMPLE

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21Writing Business Objectives andGoals1.SpecificYour objective/goal should be clear and specific, otherwise you will not be able tofocus your efforts or feel truly motivated to achieve it. When drafting yourobjective/goal, try to answer the five "W" questions:• What do I want to accomplish?• Why is this goal important?• Who is involved?• Where is it located?• Which resources or limits are involved?SAMPLE

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Topic 4 – Evaluation of Marketing PerformanceBy the end of this topic, the student should be able to: Assess business performance against the business plan objectives. Identify areas for improvement and develop a plan to address these gaps. Analyse the responses from stakeholders and implement adjustments to improve the outcomes and target of marketing activities. Monitor changes in online and offline business and customer requirements to identify areas for improvement.SAMPLE

163Customers on Social MediaThe following are some of the ways in which you can effectively listen to and conversewith your customers using social media.• Monitor what is being said about your business (e.g., use social notification toolssuch as Google Alerts).• Build relationships with your customers and increase awareness.• Promote products and services online and evaluate the impact and feedback.• Develop and improve your business’s reputation by responding to both positive andnegative comments that have been made by your customers online.• Improve your customer service and your products – you can respond to serviceissues promptly and seek further information about product problems to help fixthem.SAMPLE

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