Unit BIE305: Entrepreneurial Marketing

Unit code: K/615/4781

RQF level: 3

Aim

In this unit learners will be introduced to various theories of entrepreneurship and the roles played in a business context. Learners will analyse the role and characteristics of the entrepreneur in the economy and the personalities associated with an entrepreneur.

Learning Outcomes and Assessment Criteria

Learning Outcomes. To achieve this unit a learner must:	Assessment Criteria: Assessment of these outcomes demonstrates the learner can:
1: Be able to understand the nature of small and medium enterprises (SME) and their marketing practice.	1.1 Examine the role of the SME in developing marketing practices. 1.2 Illustrate how SME’s can develop innovative marketing solutions. 1.3 Explain the importance of setting an appropriate marketing plan for an organisation. 1.4 Explain how organisations have developed their marketing strategies.
2: Be able to develop a marketing strategy for a new business.	2.1 Identify the importance of market research in strategy development. 2.2 Build a business strategy to specify target market, features and benefits of business, competitive advantage, and actions to achieve goals. 2.3 Identify the importance of 7Ps (price, place, promotions, product, positioning, people, and packaging) in the development of marketing strategy.
3: Be able to identify entrepreneurial role in brand development and market positioning.	3.1 Explain the importance of market positioning. 3.2 Examine the ways in which an entrepreneur can market the business using a variety of methods. 3.3 Evaluate the role and capabilities of social media in marketing the business venture.
4: Be able to analyse key issues and challenges faced by entrepreneur to target a market.	4.1 Identify potential risks prior to commencing the business. 4.2 Conduct a risk analysis. 4.3 Develop a marketing plan for a new business. 4.4 Examine the ways in which an entrepreneur can cut the costs of marketing during the business start-up.