IB Business Management SL 4.2.2 STP and position maps Question Bank
Practise IB Business Management SL/HL 4.2.2 by applying stp and position maps concepts to exam-style questions.
- Syllabus
- First assessment 2024
- Course
- Business management SL
- Level
- SL
Exam points
- identify the relevant model, concept or evidence
- apply the correct subject framework to the question
- evaluate the result using clear evidence and subject terminology
4.2.2—STP and position maps question 1
[Maximum number: 2]
HSM Bakery Ltd. (HSM)
HSM Bakery Ltd. (HSM), a privately held company, produces baked goods (bread, cakes, and cookies), which are sold to shops.
In recent years, HSM has broadened its target market by producing a range of gluten-free cakes.
Define the term target market.
A target market is:
- a specific group of potential customers
- the customer profiles
- the intended buyers
- the specific section of the market
a business aims to reach with its products or services.
This group may share common characteristics such as age, gender, income level, education, interests, or geographic location that make them more likely to be interested in and purchase from a business.
For [2] there needs to be reference to both potential customers and to some characteristics.
Do not award a second mark for using an example from the stimulus eg people who want gluten-free cakes.
Do not award "a market a business targets" as this is just rearranging the words from the question.
Do not award "the market it wants to sell to".
N.B. No application required. Do not credit examples.
Candidates are not expected to word their definition exactly as above.
Award [1] for a basic definition that conveys partial knowledge and understanding, Award [2] for a full, clear definition that conveys knowledge and understanding similar to the answer above.
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