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Marketing

Revise Marketing for Business 9609 (AS Level) — revision notes and instant AI marking.

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  Cambridge International AS & A Level Business (9609)

Marketing

The big idea: Marketing starts with understanding customers through research and ends with a marketing mix that meets their needs better than competitors do.

Summary — What This Chapter Covers
  • Market orientation vs product orientation; mass and niche markets; market segmentation.
  • Primary and secondary research; sampling methods and their limitations.
  • The marketing mix (4Ps/7Ps), product life cycle, Boston Matrix, pricing methods, promotion and place.
1. The Nature of Marketing
Markets

Who are the customers?

Market share = (firm's sales ÷ total market sales) × 100. Segment by demographics, geography or psychographics.

Worked Example

A firm sells $3m in a market worth $24m. Calculate its market share.

2. Market Research
Research

Primary, secondary and sampling

Primary research is specific and up to date but expensive; secondary is cheap and quick but may be out of date. Sampling: random, quota, stratified — a larger sample is more reliable but costs more.

3. The Marketing Mix
Mix

Product, price, promotion, place

Memorise
Market share

Firm sales ÷ market sales × 100

PLC

Intro, growth, maturity, decline

Boston Matrix

Stars, cash cows, question marks, dogs

Pricing

Penetration vs skimming

Common Mistakes
Can You…?
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