AQA A LEVEL BUSINESS 3.3 WITH COMPLETE SOLUTIONS.
Marketing - ANSWER-The process of analysing, identifying and satisfying customer
needs profitably
Marketing includes e.g. x3 - ANSWER-Undertaking and analysing market research
Identifying target markets
Communicating successfully with customers
Marketing objectives - ANSWER-The goals set for the marketing department to achieve
that will help a business to achieve their corporate objectives
Sales volume - ANSWER-Measures the total number of units a firm has sold
Sale value - ANSWER-Measures the monetary value of the sales a firm makes
Sales value formula - ANSWER-Units sold x average selling price
Market size - ANSWER-Can be measured by value or volume (total units sold)
Market size formula - ANSWER-Total units sold in the market x selling price per unit
Market growth - ANSWER-The % increase in the size of the market in terms of either
value or volume
Market growth formula - ANSWER-Change in the size of the market/original size x 100
Change in the size of the market formula - ANSWER-Current size - original size
Market share - ANSWER-The % of the total market sales accounted for by one
business
Market share formula - ANSWER-Sales of the business/total market sales x 100
Brand
Brand loyality - ANSWER-The extent to which consumers make repeat purchases from
the same brand
Internal influences on marketing decisions x2 - ANSWER-Finance
Coporate objectives
Internal influence onf marketing decisions: FInance - ANSWER-it is important to set a
clear marketing budget with sufficient finance allocated to enable the company to
achieve their corporate objective.
, Internal influences on marketing decisions: Coporate objectives - ANSWER-what is the
company's overall goal, and what is required of the marketing department in order to
achieve this goal?
External influences on marketing decisions x2 - ANSWER-Technological change
Social factors
External influences on marketing decions: Technological change - ANSWER-Huge
impact on marketing in terms of data collection, personalised marketing and impact on
the marketing mix
External influence on marketing decisions: Social factors e.g. - ANSWER-Changes in
attitudes towards healthy eating etc.
Market research - ANSWER-The process of collecting information about customers and
competitors in order to make informed decisions
Market research e.g. x2 - ANSWER-Product development
Budget allocation
Primary market research - ANSWER-Data collected by a company that is specific for
their needs and purposes
Examples of primary market research x2 - ANSWER-Surveys
Questionaires
Forms of surveys and questionaires x3 - ANSWER-Physical
Telephone
Internet
Focus group - ANSWER-Interviewing a small group about aspects of a business's
Marketing mix
Primary market research pros x2 - ANSWER-Up to date
Target specific group of customers
Primary market research cons x2 - ANSWER-Time consuming
Expensive
Secondary market research - ANSWER-Data used by a company that has been
collected by Another organisation
Sources of secondary research x2 - ANSWER-Goverment data
Media
Marketing - ANSWER-The process of analysing, identifying and satisfying customer
needs profitably
Marketing includes e.g. x3 - ANSWER-Undertaking and analysing market research
Identifying target markets
Communicating successfully with customers
Marketing objectives - ANSWER-The goals set for the marketing department to achieve
that will help a business to achieve their corporate objectives
Sales volume - ANSWER-Measures the total number of units a firm has sold
Sale value - ANSWER-Measures the monetary value of the sales a firm makes
Sales value formula - ANSWER-Units sold x average selling price
Market size - ANSWER-Can be measured by value or volume (total units sold)
Market size formula - ANSWER-Total units sold in the market x selling price per unit
Market growth - ANSWER-The % increase in the size of the market in terms of either
value or volume
Market growth formula - ANSWER-Change in the size of the market/original size x 100
Change in the size of the market formula - ANSWER-Current size - original size
Market share - ANSWER-The % of the total market sales accounted for by one
business
Market share formula - ANSWER-Sales of the business/total market sales x 100
Brand
Brand loyality - ANSWER-The extent to which consumers make repeat purchases from
the same brand
Internal influences on marketing decisions x2 - ANSWER-Finance
Coporate objectives
Internal influence onf marketing decisions: FInance - ANSWER-it is important to set a
clear marketing budget with sufficient finance allocated to enable the company to
achieve their corporate objective.
, Internal influences on marketing decisions: Coporate objectives - ANSWER-what is the
company's overall goal, and what is required of the marketing department in order to
achieve this goal?
External influences on marketing decisions x2 - ANSWER-Technological change
Social factors
External influences on marketing decions: Technological change - ANSWER-Huge
impact on marketing in terms of data collection, personalised marketing and impact on
the marketing mix
External influence on marketing decisions: Social factors e.g. - ANSWER-Changes in
attitudes towards healthy eating etc.
Market research - ANSWER-The process of collecting information about customers and
competitors in order to make informed decisions
Market research e.g. x2 - ANSWER-Product development
Budget allocation
Primary market research - ANSWER-Data collected by a company that is specific for
their needs and purposes
Examples of primary market research x2 - ANSWER-Surveys
Questionaires
Forms of surveys and questionaires x3 - ANSWER-Physical
Telephone
Internet
Focus group - ANSWER-Interviewing a small group about aspects of a business's
Marketing mix
Primary market research pros x2 - ANSWER-Up to date
Target specific group of customers
Primary market research cons x2 - ANSWER-Time consuming
Expensive
Secondary market research - ANSWER-Data used by a company that has been
collected by Another organisation
Sources of secondary research x2 - ANSWER-Goverment data
Media
