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3.1. Marketing and the market

Syllabus
0264–2027–2028
Topic
3.1
Level
—

3.1.1—The role of marketing

  • identifying customer needs
  • satisfying customer needs
  • maintaining customer loyalty
  • building customer relationships
  • anticipating changes in customer needs

3.1.2—Understanding market changes

  • why consumer spending patterns may change
  • why some markets are becoming more competitive
  • how businesses can respond to changing spending patterns and increased competition
  • calculate market share

3.1.3—Mass markets and niche markets

  • concepts of mass markets and niche markets
  • advantages and disadvantages of mass markets and niche markets

3.1.4—Market segmentation

  • how markets can be segmented according to: age, income, location, gender, lifestyle
  • advantages and disadvantages of market segmentation

Objective notes

4 learning objectives
ConceptIGCSE Business Studies