IGCSE & A LEVELS GUIDE

Chapter 19 - The Marketing Mix, Product and Price Learning Objectives: To understand the marketing mix (product) characteristics The Marketing Mix are the four most important tools in a Marketer's toolbox: The right or wrong decisions in the Marketing Mix will tell whether a business will sell its products profitably. These four decisions are interrelated and should always be thought of together rather than individually . The need for consistency is key when deciding on tho

Chapter 18 - Market Research Learning Objective: To understand the basics of Market Research What is Market Research? "Market research is the action or activity of gathering information about consumers ' needs and preferences , competitors , and the market itself." Market Research reveals important information about customers , competitors , and the market in which the business competes. It is useful for various reasons : It helps businesses understand what customers like

Chapter 17 - The Nature of Marketing Learning Objective: To understand B2B, B2C, and Market Segmentation (Mass vs. Niche) Consumer Market (B2C) and Industrial Market (B2B) Consumer Products are sold to households and individuals whereas Industrial Products are the ones produced and used by industries: Selling to Business rather than to consumers have some big differences : Industrial goods are often much more complex - it requires specialist sales and support employees ; Ind

Chapter 17 - The Nature of Marketing Learning Objective: To understand some of the most common marketing concepts What is a market? A market is a group of consumers interested in a product, with resources to purchase it legally . - It is the group of customers interested in a product and with the resources to purchase it; - The potential market for a product is the total population interested in the product; - Target market is the segment of the total available market th

Chapter 17 - The Nature of Marketing Lesson Objective: To understand Price Elasticity of Demand One of the many roles of the Marketing Department is determining prices - which is part of meeting demand profitably. Note: The demand for a product is how much of that product customers are willing to buy at a certain price point. Let's start by understanding how the demand for a product changes following changes in price : Price, therefore, does influence demand . However, th

Chapter 17 - The Nature of Marketing Lesson Objective: To understand the basic concepts in Marketing In your opinion, what is Marketing? Marketing is a business function that involves various activities: Market Research; Product Design; Pricing; Advertising; Distribution; Customer Service; Packaging. In a nutshell, marketing is about: Identifying and understanding customer needs of a target-market through Market Research and then trying to satisfy those needs better than the

We all understand that there are mainly four leadership styles: Democratic; Autocratic; Laissez-Faire; Paternalistic. We also understand that different managers have different approaches towards their workforce: some have a more soft approach and others a more hard one. But what are the factors that determine what management style a manager will use ? According to Douglas McGregor the attitude of managers towards their workers will have the largest impact on how they will man

Chapter 12 - Management Learning Objectives: To learn the different leadership styles and the functions/roles of management. Being a manager is no easy job! There are two main theories regarding managers' functions and roles: Fayol Functions of Management Mintzberg Management Roles According to Fayol , the 5 following functions of management are to facilitate the management process - they focus on the relationship employees vs. managers: Planning objectives and tactics, orga

Chapter 10 - Human Resources Management Learning Objective: To understand employee appraisal, career plans, and trade unions Human Resources Managers are responsible for a very complicated issue : Appraisal is about evaluating an employee's performance against pre-set objectives; Development, on the other hand, can take the form of new challenges and opportunities , trainings , promotions , etc. - motivation; Development and Appraisal are important parts of employee satisfa

Motivation is the desire of workers to see a job done quickly and well: By meeting their individual objectives, motivated workers drive...

Chapter 10 - Human Resources Management Learning Objective: To further explore HRM responsibilities To continue with the many...

Chapter 10 - Human Resource Management Learning Objective: Understand various responsibilities of the HRM There are different reasons why...

Chapter 10 - Human Resource Management To-Do-List: Activity 10.3 Learning Objective: To understand the purpose of Human Resources...

Chapter 5 - Stakeholders in Business Learning Objective: To understand how businesses approach conflicting stakeholders' interests. As...

Chapter 5 - Stakeholders in Business Learning Objective: To understand the several stakeholders and their various interests New Airport...

Chapter 4- Business Objectives Learning Objective: Communicating, changing, and translating corporate objectives. We discussed the...

Chapter 4 - Business Objectives Learning Objective: Hierarchy of Objectives Objectives are also of key importance because they allow...

Chapter 4- Business Objectives Learning Objective: Business objectives of private and public sector businesses Business objectives are...

Chapter 3 - Size of Business Learning Objective: Business Growth (3.3) There are many reasons why businesses want to grow : With growth...

Chapter 3 - Size of Business Learning Objective: Small & Family Businesses (Ch. 3.2) Mongolia is a great place for us to discuss small...