Biz studies

Business Studies – 4th year


UNIT 1 - Business activity to achieve objectives

|1.1 Marketing |The student should be able to…|
|Role of marketing |Describe the role of marketing |
|Market research (primary and |Appreciatethe need for market research |
|secondary) |Understand how a business carries out market research; limitations of marketresearch |
| |Understand the factors that influence the accuracy of market research |
|Presentation and use of results |Present,analyse and interpret simple market research |
|Market segmentation |Understand how and why market segmentation is carried out|
|Mass market; niche market |Appreciate the difference between mass marketing and niche marketing |
|Marketing mix |Identify andexplain the elements of the marketing mix |
|Product |Demonstrate an understanding of the product life cycle|
|Price |Understand how pricing decisions are made |
| |Understand thesignificance of price elasticity of demand |
|Distribution channels |Appreciate the importance of distribution channels and the factors that determinethe |
| |selection of them |
|Promotion |Understand the...