Customers
- How businesses segment their customers in markets, e.g. age, class, gender, income.
- How target marketing is beneficial to businesses.
Market Research
- Different types of market research, i.e desk and field.
- The different methods of market research, eg sales records, internet websites, newspapers, questionnaires, interviews, focus groups.
- Costs (disadvantages) and benefits (advantages) of market research (different types/methods).
The Marketing Mix
- Definitions of product, price, place and promotion.
Marketing Mix – Product
- Research and development required to create a product.
- Phases of a product life cycle – introduction, growth, maturity, decline.
- Purpose and development of brands, own brands.
- Advantages and disadvantages of branding.
- Advantages and disadvantages of packaging.
Marketing Mix – Price
- Factors to consider when setting prices, eg competition, quality, image, production cost, profit per unit.
- Pricing strategies eg premium, competitive, and low.
Marketing Mix – Place
- Factors to consider when choosing correct location, eg competition, availability of resources, costs, government incentives, transport links, using e-commerce.
- Advantages and disadvantages of different locations, including e-commerce.
- Methods of (physical) distribution, ie road, rail, air, and sea.
- Costs and benefits of the different methods of distribution.
Marketing Mix – Promotion
- Promotional strategies, eg coupons, loyalty cards, competitions, special offers.
- Forms of advertising, eg broadcast media, print media, apps, SMS messaging.
- Advantages and disadvantages of different forms of advertising.
- How promotional strategies and advertising help promote a business.
- Ethical marketing, eg non-discriminatory, not misleading, not offensive.
Technology in Marketing
- Using ICT to increase efficiency in the marketing department eg
- Websites
- Social media
- Quick response (QR) codes
- Apps
- Database
- Desktop publisher
- Online surveys (questionnaires)
