For the price of replacement parts and considering its fairly easy to remove I'd be looking for a replacement bumper.
The other option could be to remove the bumper then remove any particularly bad bits of damage with a sander or something similar, although looking at that picture you wouldn't probably need too.
Then roughen up the inner side with abit of emery cloth of the damaged area and then fibreglass it for some strength and filler/smooth and repaint the outside. The fibreglass won't want to particularly bond with the bumper but for a small patch it should do the trick. Like I said, I'd be looking out for a new bumper.
The other option could be to remove the bumper then remove any particularly bad bits of damage with a sander or something similar, although looking at that picture you wouldn't probably need too.
Then roughen up the inner side with abit of emery cloth of the damaged area and then fibreglass it for some strength and filler/smooth and repaint the outside. The fibreglass won't want to particularly bond with the bumper but for a small patch it should do the trick. Like I said, I'd be looking out for a new bumper.