Syllabus Topic Work to be covered (Objectives) Reference texts Market research : 1 & 2 BS (260-267 ) The role of market research and methods used: 17 Market-oriented businesses (uses of market research information to a business) Primary research and secondary research (benefits and limitations of each) Methods of primary research, e.g. postal questionnaire, online survey, interviews, focus groups; the need for sampling Factors influencing the accuracy of market research data 3 Presentation and use of market research results: Analyse market research data shown in the form of graphs, charts and diagrams: draw simple conclusions from such data Marketing mix :19 4 & 5 BS (286-290 ) Product: The costs and benefits of developing new products Brand image – impact on sales and customer loyalty The role of packaging The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions 20 6 & 7 BS (299-312 ) Price: Pricing methods: cost plus, competitive, penetration, skimming and promotional; their benefits and limitations Recommend and justify an appropriate pricing method in given circumstances Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; Syllabus Topic Work to be covered (Objectives Reference texts
Syllabus Topic Work to be covered (Objectives) Reference texts Market research : 17 1 & 2 The role of market research and methods used: Market-oriented businesses (uses of market research information to a business) Primary research and secondary research (benefits and limitations of each) Methods of primary research, e.g. postal questionnaire, online survey, interviews, focus groups; the need for sampling Factors influencing the accuracy of market research data BS (260-267 ) 3 Presentation and use of market research results: Analyse market research data shown in the form of graphs, charts and diagrams: draw simple conclusions from such data Marketing mix :19 4 & 5 Product: The costs and benefits of developing new products Brand image – impact on sales and customer loyalty The role of packaging The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions BS (286-290 ) 20 6 & 7 Price: Pricing methods: cost plus, competitive, penetration, skimming and promotional; their benefits and limitations Recommend and justify an appropriate pricing method in given circumstances Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; BS (299-312 ) Syllabus Topic Work to be covered (Objectives Reference texts
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