What you’ll learn7 learning objectivesChoose one objective for a focused lesson, or study the complete topic.3.1.1Marketing role• The role of marketing and its relationship with other business activities- marketing objectives- the link between marketing objectives and corporate objectivesSyllabus objective3.1.2Demand and supply• Demand and supply- the factors influencing the demand for and supply of the products of a business- interactions between demand, supply and priceSyllabus objective3.1.3Markets• Markets- how markets may differ: consumer and industrial markets; local, national and international markets- the difference between product orientation and customer (market) orientation- measurement of market share and market growth- the implications of changes in market share and market growthSyllabus objective3.1.4Consumer and industrial marketing• Consumer and industrial marketing- the classification of products- how marketing might differ for consumer products (B2C - business to consumer) and industrial products (B2B - business to business)Syllabus objective3.1.5Mass marketing and niche marketing• Mass marketing and niche marketing- the features of mass and niche markets- the advantages and disadvantages of mass marketing and niche marketingSyllabus objective3.1.6Market segmentation• Market segmentation- methods of market segmentation: geographic, demographic and psychographic- the advantages and disadvantages of market segmentationSyllabus objective3.1.7CRM• Customer relationship marketing (CRM)- the aims of CRM- the costs and benefits of CRMSyllabus objective