Slabs content Unit 4: Marketing ‘Marketing is an essential business function it creates a bridge between an organization andi customers Inour everyday speech, the word marketing soften aticated with advertisements nd ining innovative ‘waysof gating people toby a predict or sevice, However unit shows tens thot makeing much ‘move than that fective marketing reques consideration of everthing trom product quality to conse perceptions and increasingly engagement with people's everyday ves fo uncover needs that customers Imaynot even be aware of themsees Both SL and KL students lear te marketing mixof he four Ps—the essential ingredents of marketing planning: produc, pie prometion an pce stabution. At HL this model expanded tothe seven Pa students also exolere how people, processes and physi evidence can be ape to the artting af ‘services HL students aso examine inemationl marketingin greater depth Ths gives them an appreciation forhow marketing totes and practices are bath reflection of and an influence onthe cltrein wich they are applied ven the sates atureof makeing, nit fe clotly inked tthe ther busines functions student study inthe busines management course For instance, market research may lad to new strategic ob\ctNes [unt thot impect on production ut) human resource planning (un 2) ana proabity unt 3) Unit provides an ideal opportunity for teachers and students o explore casestudies ond examples that re contemporry, relevant and of dec interest to students, Marking also ollows students to develop thal conceptol Undestoning. The unt est alconeepts underpining the cuts: marketing deisons restate and hove efhicl and ctrl implications Here the dre to which marketing ls lobe Cane examined Innovating and being aware or even ahead of social changes are essential elements teffectve marketing. Thus students lear to discuss and evaluate marketing deciions trom a range of perspectives combining ingly, ial hiking and cos-cutual understanding. SLIML content Depthot | HLonly Depth ot teaching teaching 43 Theroleof marketing Marketing anditselatonship with | A01 | ser busines functions “The diflerences between marketing of goods and marketing of servces “The ference between commercial | AOZ rmaeting and acl marketing | characteistisof the marketin which anorganzation operates Market shire “Theimportance of market shareand | AO3 rmarketleadersip “The marketing objectives of for prof rganzations nd non-profit coxganizatons W tases moogeneat guideDepth of HLonly x Depth of oe eis How marketing strategies evolve as AO3 aeae | tes chge nour | peters How innovation, ethical [nos | | ‘considerations and cultural | ieeces yur ring omnonennai contin {2 Nat ring cig duction tthe ou) Theclemenisofemoretingplan | A0i | x eter mae [el | [Ratorteoftaratengees | enainicammantied [Ni Sanenbasneee ‘The effectiveness of a marketing mix | AOS Saoeoentsnenl So ee Rietcndnanepers ee | Sipe aoe | Tennis De “manate en ae meen ms uer fr orogens mantenion | MAOH m= Sinamenieacm (| Mingpompenston 5) | | [iow genannten etek rates coma | ° ees| SL/HL content 4.3 Sales forecasting (HL only) 4.4 Market research ‘Why and how organizations carry out market research The following methods/techniques of primary market research: + surveys + interviews | + focus groups | + observations The following methods/techniques of secondary market research: + market analyses + academic journals + government publications + media articles | Depth of teaching 02 HLonly Up to four-part moving average, sales trends and forecast (including | seasonal, cyclical and random | variation) using given data | The benefits and limitations of sales | forecasting | Ethical considerations of market research The difference between qualitative and quantitative research | The following methods of sampling: + quota + random: + stratified + cluster + snowballing + convenience Results from data collection A04 Depth of teachingSyflabus content SUML content 45 ThefourPs (product, price, promotion, pl Product “The product ie cycle 08 ‘The relationship between the | n02 product fe cyceanthe marketing | extension strategies 08 Therehtionshipbetweenthe | AOZ proc ie cele westment profit fandeash flow oston Consulting Group BCG) | AD3,A08 matrixon an ogantzation’s products “hetllowing aspects ofbranding: | AOZ + development loyalty | value “he importance of banding 403 | The importance of packaging 903 “he appropratanesofthefolowing. | AO3 prcng strotaies: + costplus mare) penetration | + skiing + psyhologial loss ler + pice dscrimination + price leadership Predatorya | Promotion Depth of teaing | The folowing aspects of prometion: | A02 above the ine promotion ‘below thetine promotion + promotional mix Thelmpactof changing technology | AUB ‘on promotional strategies ch asviral marketing socal eda marketing and social networking) Guerila marketing and its pos fectiveness asa promotional ‘ethos “The importance of place inthe 402 marketing mix The effectiveness of iferenttypesof | AOS etrbutonchonnele ‘46 Theextended marketing mixef seven Ps HL only) fe Fiera seed een es People ‘The importance at employes 303 ‘customer relationships in marketing a ‘serve and ctrl voriation in these relationships “The importance of delivery processes in martating mix seruice and changes inthese processes Physica evidence ‘Theimportanceaftanibe pysical | AO? evidence in maketinga sevice | ThesevenPsmodelinaservie- | A02 based market WD Besnesrmaragenert guise 2