Chapter 4: Marketing

The Objectives of this lesson are: 

1. Market orientation versus product orientation AO2
2. Market share AO2, AO4
3. Market growth AO2, AO4
4. The importance of market share and market leadership (HL only) AO3

Marketing planning is the process through which a business sets clear objectives and develops strategies to achieve them. It involves analysing the market, identifying target customers, and deciding how best to position and differentiate products or services. A strong marketing plan provides direction, ensures coordination across departments, and helps firms compete effectively in dynamic and competitive markets.

This sub-chapter emphasizes the importance of marketing planning for business success. It introduces key tools and concepts such as segmentation, targeting and positioning (STP), the distinction between niche and mass markets, the role of a unique selling point (USP), and different ways businesses can differentiate themselves from competitors. Students are expected to apply these concepts to real-world businesses and critically evaluate their effectiveness.

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