Unit 4 - Marketing

Unit 4 - Marketing

4.1 Introduction to Marketing 

• 4.1 BCG Matrix 

4.2 Marketing Planning 

• 4.2 Porter's Generic Strategies 

4.3 Sales Forecasting (HL) 

4.4 Market Research 

• 4.4 Descriptive Statistics 

4.5 The Seven Ps of the Marketing Mix 

4.6 International Marketing 

4.1 Introduction to Marketing

4.1 BCG Matrix

• Market orientation versus product orientation (AO2)

• Market share (AO2, AO4)

• Market growth (AO2, AO4)

• The importance of market share and market leadership (AO3) (HL only)

• Boston Consulting Group matrix (AO2)

4.2 Marketing Planning

4.2 Porter's Generic Strategies

• The role of marketing planning (AO2)

• Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)

• The difference between niche market and mass market (AO2)

• The importance of having a unique selling point/proposition (USP) (AO2)

• How organizations can differentiate themselves and their products from competitors (AO3)

• Apply Porter’s Generic Strategies in a given context (HL only) (AO2)

4.3 Sales Forecasting (HL) 

• The benefits and limitations of sales forecasting (AO3)

4.3 Simple Linear Regression 

4.4 Market Research 

• Why and how organizations carry out market research (AO3)

• The following methods/techniques of primary market research (AO2):
  •  Surveys
  •  Interviews
  •  Focus groups
  •  Observations

• The following methods/techniques of secondary market research (AO2):
  •  Market analyses
  •  Academic journals
  •  Government publications
  •  Media articles
  •  Online content

• The difference between qualitative and quantitative research (AO2)

• The following methods of sampling (AO2):
  • quota
  • random
  • convenience

4.4 Descriptive Statistics 

• apply descriptive statistics tools in a given context (AO4)

Descriptive statistics will include the following.

• Mean

• Mode

• Median

• Bar charts

• Pie charts

• Infographics

• Quartiles

• Standard deviation

4.5 The Seven Ps of the Marketing Mix 

4.5 The Seven Ps of the Marketing Mix 

Product 

The relationship between the product life cycle, product portfolio and the marketing mix (AO2) 

Extension strategies (AO3) 

The relationship between the product life cycle, investment, profit and cash flow (AO2) 

The following aspects of branding. (AO2) 

• Awareness 

• Development 

• Loyalty 

• Value 

The importance of branding (AO2) 

Price 

The appropriateness of the following pricing methods. (AO3) 

• Cost-plus (mark-up) pricing 

• Penetration pricing 

• Loss leader 

• Predatory pricing 

• Premium pricing 

• Dynamic pricing (HL only) 

• Competitive pricing (HL only) 

• Contribution pricing (HL only) 

• Price elasticity of demand (HL only) 

Promotion 

The following aspects of promotion. (AO2)

• Above the line promotion 

• Below the line promotion 

• Through the line promotion 

Social media marketing as a promotional strategy (AO3) 

Place 

The importance of different types of distribution channels (AO3) 

People 

The importance of employee–customer relationships in marketing a service and cultural variation in these relationships (AO3) 

Processes 

The importance of delivery processes in marketing a service and changes in these processes (AO3) 

Physical evidence 

The importance of tangible physical evidence in marketing a service (AO3) 

Appropriate marketing mixes 

Appropriate marketing mixes for particular products or businesses (AO3) 

4.6 International Marketing 

• The opportunities and threats posed by entry into international markets (AO3).