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relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" 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href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25118/cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../31342/revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399695.html" title="The nature of business">The nature of business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399694.html" title="Primary, secondary, tertiary, & quaternary sectors">Primary, secondary, tertiary, & quaternary sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399693.html" title="Entrepreneurship">Entrepreneurship</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399692.html" title="Challenges & opportunities for starting a business">Challenges & opportunities for starting a business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399691.html" title="1.1 True or False Quiz">1.1 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399690.html" title="1.1 Revision Flashcards">1.1 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399689.html" title="1.1 Glossary of key terms">1.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399688.html" title="Public & private sectors">Public & private sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399687.html" title="Types of for-profit organizations">Types of for-profit organizations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399686.html" title="For-profit social enterprises">For-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399685.html" title="Non-profit social enterprises">Non-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399684.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399683.html" title="1.2 Revision Flashcards">1.2 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399682.html" title="1.2 Glossary of key terms">1.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399679.html" title="Vision and mission statements">Vision and mission statements</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399680.html" title="Common business objectives">Common business objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399678.html" title="Strategic & tactical objectives">Strategic & tactical objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399677.html" title="Corporate social responsibility">Corporate social responsibility</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399676.html" title="1.3 Revision Flashcards">1.3 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399674.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399675.html" title="1.3 Glossary of Key terms">1.3 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399673.html" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399672.html" title="Conflict between stakeholders">Conflict between stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399670.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399669.html" title="1.4 True or False">1.4 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399671.html" title="1.4 Glossary of Key terms">1.4 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44212/economies-diseconomies-of-scale-1.html" title="Economies & diseconomies of scale">Economies & diseconomies of scale</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44214/internal-and-external-growth-1.html" title="Internal and external growth">Internal and external growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44220/external-growth-methods-1.html" title="External growth methods">External growth methods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44219/reasons-to-grow-or-stay-small-1.html" title="Reasons to grow or stay small">Reasons to grow or stay small</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45586/unit-15revision-flashcards-1.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45450/true-or-false-quiz-1.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43673/15-glossary-of-key-terms-1.html" title="1.5 Glossary of key terms">1.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44236/the-impact-of-mncs-on-host-countries-ao3-1.html" title="The impact of MNCs on host countries (AO3)">The impact of MNCs on host countries (AO3)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44240/video-documentaries-mncs-1.html" title="Video documentaries - MNCs">Video documentaries - MNCs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45587/16-glossary-of-key-terms-1.html" title="1.6 Glossary of key terms">1.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44253/21-introduction-to-hrm.html" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44256/role-of-hrm.html" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44257/factors-that-influence-hr-planning.html" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44282/reasons-for-resistance-to-change.html" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45458/21-true-or-false-quiz.html" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44296/terminology-for-understanding-organizational-structures-1.html" title="Terminology for understanding organizational structures">Terminology for understanding organizational structures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44310/types-of-organization-charts-1.html" title="Types of organization charts">Types of organization charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44323/appropriateness-of-organizational-structures-and-external-factor-1.html" title="Appropriateness of organizational structures and external factors">Appropriateness of organizational structures and external factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44316/changes-in-organizational-structures-hl-1.html" title="Changes in organizational structures (HL)">Changes in organizational structures (HL)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44343/scientific-intuitive-management-hl-1.html" title="Scientific & intuitive management (HL)">Scientific & intuitive management (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44339/management-and-leadership-1.html" title="Management and leadership">Management and leadership</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44340/leadership-styles-1.html" title="Leadership styles">Leadership styles</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45462/23-true-or-false-quiz.html" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43829/24-motivation-and-demotivation.html" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44349/motivation-theories-sl-hl-1.html" title="Motivation theories (SL & HL)">Motivation theories (SL & HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44353/motivation-theories-hl-1.html" title="Motivation theories (HL)">Motivation theories (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44354/labour-turnover-hl-1.html" title="Labour turnover (HL)">Labour turnover (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44361/types-of-appraisal-hl-1.html" title="Types of appraisal (HL)">Types of appraisal (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44383/methods-of-recruitment-hl-1.html" title="Methods of recruitment (HL)">Methods of recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44382/internal-external-recruitment-hl-1.html" title="Internal & external recruitment (HL)">Internal & external recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44363/types-of-financial-rewards-1.html" title="Types of financial rewards">Types of financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44370/types-of-non-financial-rewards-1.html" title="Types of non-financial rewards">Types of non-financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44392/organizational-culture-hl-1.html" title="Organizational culture (HL)">Organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44393/types-of-organizational-culture-hl-1.html" title="Types of organizational culture (HL)">Types of organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44394/cultural-clashes-hl-1.html" title="Cultural clashes (HL)">Cultural clashes (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43545/unit-3-finance.html" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44435/31-introduction-to-finance.html" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44431/31-introduction-to-finance-role-of-finance.html" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45634/31-glossary-of-key-term.html" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44436/32-sources-of-finance.html" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44437/internal-sources-of-finance.html" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44450/external-sources-of-finance.html" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44479/appropriateness-of-sources-of-finance.html" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45483/32-true-or-false-quiz.html" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44487/types-of-costs-1.html" title="Types of costs">Types of costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44491/total-revenue-revenue-streams-1.html" title="Total revenue & revenue streams">Total revenue & revenue streams</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45484/33-true-or-false-quiz-1.html" title="3.3 True or false quiz">3.3 True or false quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45657/33-glossary-of-key-terms-1.html" title="3.3 Glossary of key terms">3.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44527/the-purpose-of-accounts-to-different-stakeholders-1.html" title="The purpose of accounts to different stakeholders">The purpose of accounts to different stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44577/profit-loss-account-2.html" title="Profit & loss account">Profit & loss account</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44579/balance-sheets-1.html" title="Balance sheets">Balance sheets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44560/types-of-intangible-assets-1.html" title="Types of intangible assets">Types of intangible assets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44585/depreciation-hl-1.html" title="Depreciation (HL)">Depreciation (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45919/34-true-or-false-quiz-1.html" title="3.4 True or False Quiz">3.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45658/34-glossary-of-key-terms-1.html" title="3.4 Glossary of key terms">3.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44595/profitability-ratios.html" title="Profitability ratios">Profitability ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44626/liquidity-ratios-1.html" title="Liquidity ratios">Liquidity ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45486/35-true-or-false-quiz-1.html" title="3.5 True or False Quiz">3.5 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45661/35-glossary-of-key-terms-1.html" title="3.5 Glossary of key terms">3.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44805/efficiency-ratios-hl-1.html" title="Efficiency ratios (HL)">Efficiency ratios (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44633/insolvency-versus-bankruptcy-1.html" title="Insolvency versus bankruptcy">Insolvency versus bankruptcy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45488/36-true-or-false-quiz-1.html" title="3.6 True or False Quiz">3.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45662/36-glossary-of-key-terms-1.html" title="3.6 Glossary of key terms">3.6 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44502/the-difference-between-profit-cash-flow-1.html" title="The difference between profit & cash flow">The difference between profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44506/working-capital-1.html" title="Working capital">Working capital</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44557/liquidity-position-1.html" title="Liquidity position">Liquidity position</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44558/cash-flow-forecasts-1.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44507/relationship-between-investment-profit-cash-flow-1.html" title="Relationship between investment, profit & cash flow">Relationship between investment, profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44509/strategies-for-dealing-with-cash-flow-problems-1.html" title="Strategies for dealing with cash flow problems">Strategies for dealing with cash flow problems</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45493/37-true-or-false-1.html" title="3.7 True or False">3.7 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43687/37-glossary-of-key-terms-1.html" title="3.7 Glossary of key terms">3.7 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44516/payback-period-average-rate-of-return-1.html" title="Payback period & Average rate of return">Payback period & Average rate of return</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45494/38-true-or-false-quiz-1.html" title="3.8 True or False Quiz">3.8 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43693/38-glossary-of-key-terms-1.html" title="3.8 Glossary of key terms">3.8 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44565/the-difference-between-cost-profit-centres-1.html" title="The difference between cost & profit centres">The difference between cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44568/the-roles-of-cost-profit-centres-1.html" title="The roles of cost & profit centres">The roles of cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44576/constructing-budgets-1.html" title="Constructing budgets">Constructing budgets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44569/variances-1.html" title="Variances">Variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44571/the-importance-of-budgets-variances-1.html" title="The importance of budgets & variances">The importance of budgets & variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45495/39-true-or-false-quiz-1.html" title="3.9 True or False Quiz">3.9 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43694/39-glossary-of-key-terms.html" title="3.9 Glossary of key terms">3.9 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44638/market-orientation-vs-product-orientation-1.html" title="Market orientation vs Product orientation">Market orientation vs Product orientation</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44639/market-share-1.html" title="Market share">Market share</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44641/market-growth-1.html" title="Market growth">Market growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44642/importance-of-market-share-market-leadership-hl-1.html" title="Importance of market share & market leadership (HL)">Importance of market share & market leadership (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43695/41-glossary-of-key-terms-1.html" title="4.1 Glossary of key terms">4.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44645/the-role-of-marketing-planning-1.html" title="The role of marketing planning">The role of marketing planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44654/segmentation-targeting-and-positioning-1.html" title="Segmentation, targeting, and positioning">Segmentation, targeting, and positioning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44646/difference-between-niche-mass-market-1.html" title="Difference between niche & mass market">Difference between niche & mass market</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43821/the-importance-of-having-a-usp-1.html" title="The importance of having a USP">The importance of having a USP</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44655/how-organizations-differentiate-themselves-1.html" title="How organizations differentiate themselves">How organizations differentiate themselves</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43834/42-vocab-quiz-1.html" title="4.2 Vocab Quiz">4.2 Vocab Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45528/42-true-or-false-quiz-1.html" title="4.2 True or False Quiz">4.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43696/42-glossary-of-key-terms-1.html" title="4.2 Glossary of key terms">4.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44660/43-sales-forecasting-hl.html" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44669/benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45530/43-true-or-false-quiz-1.html" title="4.3 True or False Quiz">4.3 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43711/43-glossary-of-key-terms-1.html" title="4.3 Glossary of key terms">4.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44692/methodstechniques-of-primary-market-research-1.html" title="Methods/techniques of primary market research">Methods/techniques of primary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44693/methodstechniques-of-secondary-market-research-1.html" title="Methods/techniques of secondary market research">Methods/techniques of secondary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44694/qualitative-quantitative-research-1.html" title="Qualitative & quantitative research">Qualitative & quantitative research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44695/methods-of-sampling-1.html" title="Methods of sampling">Methods of sampling</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45531/44-true-or-false-quiz-1.html" title="4.4 True or False Quiz">4.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43712/44-glossary-of-key-terms-1.html" title="4.4 Glossary of key terms">4.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44741/the-product-life-cycle-1.html" title="The product life cycle">The product life cycle</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44745/extension-strategies-1.html" title="Extension strategies">Extension strategies</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44981/relationship-between-the-plc-investment-profit-cash-flow-1.html" title="Relationship between the PLC, investment, profit & cash flow">Relationship between the PLC, investment, profit & cash flow</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44748/aspects-of-branding.html" title="Aspects of branding">Aspects of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44757/the-importance-of-branding-1.html" title="The importance of branding">The importance of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45766/starterplenary-activity-anagrams-quiz-brands-1.html" title="Starter/Plenary activity - Anagrams Quiz (Brands)">Starter/Plenary activity - Anagrams Quiz (Brands)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45957/starterplenary-activity-whats-in-a-brand-name-1.html" title="Starter/Plenary activity - What's in a (brand) name?">Starter/Plenary activity - What's in a (brand) name?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43713/45-glossary-of-key-terms-product-1.html" title="4.5 Glossary of key terms (Product)">4.5 Glossary of key terms (Product)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42547/452-price-1.html" title="4.5.2 Price">4.5.2 Price</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43719/45-key-terms-price-1.html" title="4.5 Key Terms (Price)">4.5 Key Terms (Price)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44783/above-the-line-promotion-1.html" title="Above the line promotion">Above the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44795/below-the-line-promotion-1.html" title="Below the line promotion">Below the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44797/through-the-line-promotion-1.html" title="Through the line promotion">Through the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44801/social-media-marketing-1.html" title="Social media marketing">Social media marketing</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43721/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44803/454-place-1.html" title="4.5.4 Place">4.5.4 Place</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44804/the-importance-of-different-distribution-channels-1.html" title="The importance of different distribution channels">The importance of different distribution channels</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43722/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44758/455-people-1.html" title="4.5.5 People">4.5.5 People</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44773/456-processes-1.html" title="4.5.6 Processes">4.5.6 Processes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44774/457-physical-evidence-1.html" title="4.5.7 Physical evidence">4.5.7 Physical evidence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44982/appropriate-marketing-mixes-1.html" title="Appropriate marketing mixes">Appropriate marketing mixes</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44698/opportunities-threats-posed-by-entry-into-international-markets-1.html" title="Opportunities & threats posed by entry into international markets">Opportunities & threats posed by entry into international markets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45537/46-true-or-false-quiz-1.html" title="4.6 True or False Quiz">4.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45736/46-glossary-of-key-terms-1.html" title="4.6 Glossary of key terms">4.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44818/the-role-of-operations-management-1.html" title="The role of operations management">The role of operations management</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44815/operations-methods-1.html" title="Operations methods">Operations methods</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44864/features-of-lean-production.html" title="Features of lean production">Features of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44872/methods-of-lean-production.html" title="Methods of lean production">Methods of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44874/cradle-to-cradle-design-manufacturing.html" title="Cradle to cradle design & manufacturing">Cradle to cradle design & manufacturing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44875/quality-control-quality-assurance.html" title="Quality control & quality assurance">Quality control & quality assurance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44876/methods-of-managing-quality.html" title="Methods of managing quality">Methods of managing quality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44877/the-impact-of-lean-production-tqm.html" title="The impact of lean production & TQM">The impact of lean production & TQM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44878/national-international-quality-standards.html" title="National & international quality standards">National & international quality standards</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44843/contribution.html" title="Contribution">Contribution</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44848/aspects-of-break-even-analysis.html" title="Aspects of break-even analysis">Aspects of break-even analysis</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44851/changes-in-price-and-costs.html" title="Changes in price and costs">Changes in price and costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44852/limitations-of-break-even-analysis.html" title="Limitations of break-even analysis">Limitations of break-even analysis</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44902/the-local-global-supply-chain-process.html" title="The local & global supply chain process">The local & global supply chain process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44922/the-difference-between-jit-jic.html" title="The difference between JIT & JIC">The difference between JIT & JIC</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44931/stock-control-charts.html" title="Stock control charts">Stock control charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44970/capacity-utilization-rate.html" title="Capacity utilization rate">Capacity utilization rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45125/defect-rate.html" title="Defect rate">Defect rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43832/productivity.html" title="Productivity">Productivity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45187/cost-to-buy-cost-to-make.html" title="Cost to buy & Cost to make">Cost to buy & Cost to make</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../46353/sinterklaas-putting-ctb-vs-ctm-into-practice.html" title="Sinterklaas - Putting CTB vs CTM into practice">Sinterklaas - Putting CTB vs CTM into practice</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45243/difference-between-crisis-management-contingency-planning.html" title="Difference between crisis management & contingency planning">Difference between crisis management & contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45268/impact-of-contingency-planning.html" title="Impact of contingency planning">Impact of contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45260/factors-that-affect-effective-crisis-management.html" title="Factors that affect effective crisis management">Factors that affect effective crisis management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45554/57-true-or-false-quiz.html" title="5.7 True or False Quiz">5.7 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42633/data-analytics.html" title="Data analytics">Data analytics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45861/database.html" title="Database">Database</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44966/cybersecurity-and-cybercrime.html" title="Cybersecurity and cybercrime">Cybersecurity and cybercrime</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45859/critical-infrastructures.html" title="Critical infrastructures">Critical infrastructures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46175/virtual-reality.html" title="Virtual reality">Virtual reality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45862/the-internet-of-things.html" title="The internet of things">The internet of things</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45858/artificial-intelligence.html" title="Artificial intelligence">Artificial intelligence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42634/big-data.html" title="Big data">Big data</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43392/customer-loyalty-programmes.html" title="Customer loyalty programmes">Customer loyalty programmes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43395/digital-taylorism.html" title="Digital Taylorism">Digital Taylorism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45671/data-mining.html" title="Data mining">Data mining</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45856/benefits-risks-ethical-implications-of-mis.html" title="Benefits, risks, & ethical implications of MIS">Benefits, risks, & ethical implications of MIS</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42640/bmt-.html" title="BMT ">BMT </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399696.html" title="BMT 1 - SWOT analysis">BMT 1 - SWOT analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399697.html" title="BMT 2 - Ansoff matrix">BMT 2 - Ansoff matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44027/bmt-3-steeple-analysis.html" title="BMT 3 - STEEPLE analysis">BMT 3 - STEEPLE analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42577/bmt-4-boston-consulting-group-matrix.html" title="BMT 4 - Boston Consulting Group matrix">BMT 4 - Boston Consulting Group matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42956/bmt-5-business-plans.html" title="BMT 5 - Business plans">BMT 5 - Business plans</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43606/bmt-6-decision-trees.html" title="BMT 6 - Decision trees">BMT 6 - Decision trees</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42362/bmt-7-descriptive-statistics.html" title="BMT 7 - Descriptive statistics">BMT 7 - Descriptive statistics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42226/bmt-8-circular-business-models.html" title="BMT 8 - Circular Business Models">BMT 8 - Circular Business Models</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43605/bmt-9-gantt-chart-hl-only.html" title="BMT 9 - Gantt chart (HL only)">BMT 9 - Gantt chart (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42214/bmt-10-porters-generic-strategies-hl-only.html" title="BMT 10 - Porter's generic strategies (HL only)">BMT 10 - Porter's generic strategies (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42216/bmt-11-hofstedes-cultural-dimensions-hl-only.html" title="BMT 11 - Hofstede's cultural dimensions (HL only)">BMT 11 - Hofstede's cultural dimensions (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399698.html" title="BMT 12 - Force field analysis (HL only)">BMT 12 - Force field analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42375/bmt-13-critical-path-analysis-hl-only.html" title="BMT 13 - Critical path analysis (HL only)">BMT 13 - Critical path analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42344/bmt-14-contribution-hl-only-.html" title="BMT 14 - Contribution (HL only) ">BMT 14 - Contribution (HL only) </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42311/bmt-15-simple-linear-regression-hl-only.html" title="BMT 15 - Simple linear regression (HL only)">BMT 15 - Simple linear regression (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42758/concepts.html" title="Concepts">Concepts</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43633/creativity.html" title="Creativity">Creativity</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43631/ethics.html" title="Ethics">Ethics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43435/sustainability.html" title="Sustainability">Sustainability</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43668/change.html" title="Change">Change</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42836/ia-.html" title="IA ">IA </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44415/formulating-suitable-ia-questions.html" title="Formulating suitable IA questions">Formulating suitable IA questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47685/supporting-documents-for-the-ia.html" title="Supporting documents for the IA">Supporting documents for the IA</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47840/top-tips-for-the-ia-primary-research.html" title="Top tips for the IA – Primary research">Top tips for the IA – Primary research</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44047/50-sample-ia-research-questions-1.html" title="50+ Sample IA research questions">50+ Sample IA research questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46719/recommended-format-for-the-ia.html" title="Recommended format for the IA">Recommended format for the IA</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44091/paper-1.html" title="Paper 1">Paper 1</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 2">Paper 2</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46637/01-ikea.html" title="01 - IKEA">01 - IKEA</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45839/quantitative-techniques.html" title="Quantitative techniques">Quantitative techniques</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46025/abbreviations-quiz.html" title="Abbreviations Quiz">Abbreviations Quiz</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../33955/the-core.html" title="The Core">The Core</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../34902/cas-bm.html" title="CAS & BM">CAS & BM</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21665/the-ee.html" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21934/the-bm-extended-essay.html" title="The BM Extended Essay">The BM Extended Essay</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../32857/ee-planning-form.html" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37390/managing-the-ee-process.html" title="Managing the EE process">Managing the EE process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37496/top-10-tips-for-the-bm-ee.html" title="Top 10 tips for the BM EE">Top 10 tips for the BM EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21930/70-top-bm-ee-research-questions.html" title="70 top BM EE Research Questions">70 top BM EE Research Questions</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22196/tools-techniques-theories-for-the-ee.html" title="Tools, techniques & theories for the EE">Tools, techniques & theories for the EE</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44048/the-triple-bottom-line.html" title="The triple bottom line">The triple bottom line</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21836/understanding-the-assessment-criteria.html" title="Understanding the assessment criteria">Understanding the assessment criteria</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37960/reflections-and-engagement-in-the-ee.html" title="Reflections and engagement in the EE">Reflections and engagement in the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../41874/the-mandatory-reflection-sessions.html" title="The mandatory reflection sessions">The mandatory reflection sessions</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37659/top-10-tips-for-completing-the-rppf-1.html" title="Top 10 Tips for completing the RPPF">Top 10 Tips for completing the RPPF</a></li><li class="" style="padding-left: 28px"><i class="expander fa 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class="" href="../22208/how-well-do-you-know-the-bm-course.html" title="How well do you know the BM course?">How well do you know the BM course?</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Distance Learning">Distance Learning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../39730/financial-literacy-simulation-game.html" title="Financial literacy simulation game">Financial literacy simulation game</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../34551/starter-activities-business-management-trivia-quizzes.html" title="Starter Activities - Business Management Trivia Quizzes">Starter Activities - Business Management Trivia Quizzes</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" 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<div id="main-column" class="span9"> <article id="unit-4-key-terms-marketing-" style="margin-top: 16px;">
<h1 class="section-title">Unit 4 Key terms - Marketing </h1>
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<h4><span style="font-family:arial,helvetica,sans-serif;">Unit 4</span><span style="font-family:arial,helvetica,sans-serif;"> Key terms - <span style="font-family:arial,helvetica,sans-serif;">Marketing</span></span></h4><p><img alt="" height="109" src="../../../ib/businessmanagement/images/marketing-mix-1.png" width="315"></p><p><span style="font-family:arial,helvetica,sans-serif;">It is through the correct use of subject terminology that students show their knowledge and understanding.</span> Effective marketing is core to the success of all business organizations. Unit 4 of the IB Business Management syllabus examines a wide range of marketing tools, theories, techniques and concepts. Marketing is far more than just about advertising or promotion, or even the traditional 4 Ps of marketing: product, price, promotion and place. SL and HL students also need to be able to examine the Marketing topics through the <a href="../20252/cuegis.html" title="CUEGIS">CUEGIS</a> concepts of <a href="../23987/change.html" title="CUEGIS » The 6 CUEGIS concepts » Change">change</a>, <a href="../20253/culture.html" title="CUEGIS » The 6 CUEGIS concepts » Culture">culture</a>, <a href="../21955/ethics.html" title="CUEGIS » The 6 CUEGIS concepts » Ethics">ethics</a>, <a href="../22292/globalization.html" title="CUEGIS » The 6 CUEGIS concepts » Globalization">globalization</a>, <a href="../22133/innovation.html" title="CUEGIS » The 6 CUEGIS concepts » Innovation">innovation</a>and <a href="https://www.thinkib.net/businessmanagement/page/22132/strategy" title="CUEGIS » The 6 CUEGIS concepts » Strategy">strategy</a>.</p><hr class="hidden"><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.1 Key terms - The role of marketing</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table align="center" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:84px;"><p><strong>Commercial marketing</strong></p></td><td style="width:491px;height:84px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Marketing strategies that focus on meeting the demands (needs and wants) of customers in a profitable way. The main purpose is to generate benefits for the owners of the business, such as shareholders.</span></section></td></tr><tr><td style="width:143px;height:62px;"><p><strong>For-profit organization</strong></p></td><td style="width:491px;height:62px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A commercial organization that sells goods and/or services in order to earn a profit for its owners.</span></section></td></tr><tr><td style="width:143px;height:56px;"><p><strong>Goods</strong></p></td><td style="width:491px;height:56px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Tangible (physical) products, such as tennis balls, cakes, shoes and cars.</span></section></td></tr><tr><td style="width:143px;height:52px;"><p><strong>Market</strong></p></td><td style="width:491px;height:52px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The collective term for the buyers and sellers of a particular product.</span></section></td></tr><tr><td style="width:143px;height:63px;"><p><strong>Market growth</strong></p></td><td style="width:491px;height:63px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The increase in the size of a market. It is usually expressed as the percentage increase in the market size over a given period of time.</span></section></td></tr><tr><td style="width:143px;height:61px;"><p><strong>Market leader</strong></p></td><td style="width:491px;height:61px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to the firm with the largest market share in the industry.</span></section></td></tr><tr><td style="width:143px;height:65px;"><p><strong>Market orientation</strong></p></td><td style="width:491px;height:65px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">An approach to marketing that focuses on meeting the specific demands (desires and needs) of customers and potential customers.</span></section></td></tr><tr><td style="width:143px;height:66px;"><p><strong>Market share</strong></p></td><td style="width:491px;height:66px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A measure of the size of a business in comparison to others in the same industry, by calculating its proportion of the total value of sales revenue in the industry.</span></section></td></tr><tr><td style="width:143px;height:63px;"><p><strong>Market size</strong></p></td><td style="width:491px;height:63px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The number of people in a certain market who are potential customers of a product or service.</span></section></td></tr><tr><td style="width:143px;height:69px;"><p><strong>Marketing</strong></p></td><td style="width:491px;height:69px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The business function of determining the goods and services required to meet the needs and wants of customers in a sustainable way.</span></section></td></tr><tr><td style="width:143px;height:62px;"><p><strong>Marketing objectives</strong></p></td><td style="width:491px;height:62px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The targets of the marketing department within an organization, in order to help achieve the overall objectives of the business.</span></section></td></tr><tr><td style="width:143px;height:66px;"><p><strong>Mass markets</strong></p></td><td style="width:491px;height:66px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Industries that buy and sell mass markets products, catering for a broad range of target markets, such as bottled water or breakfast cereal.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Niche markets</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Industries that buy and sell highly specialised products to cater for a small and select target market, such as snowboarders.</span></section></td></tr><tr><td style="width:143px;height:62px;"><p><strong>Non-profit organization (NPO)</strong></p></td><td style="width:491px;height:62px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A business that does not primarily aim to earn a profit but to serve a purpose beyond the organization itself, for the betterment society as a whole.</span></section></td></tr><tr><td style="width:143px;height:57px;"><p><strong>People</strong></p></td><td style="width:491px;height:57px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The employees who deliver the customer service element of the extended marketing mix.</span></section></td></tr><tr><td style="width:143px;height:74px;"><p><strong>Physical evidence</strong></p></td><td style="width:491px;height:74px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The observable and tangible aspects of a service. For example, in a hotel, the physical evidence or physical environment could include the lighting, ambience, cleanliness, aroma, presentation of hotel staff, and the physical size of the building.</span></section></td></tr><tr><td style="width:143px;height:65px;"><p><strong>Place</strong></p></td><td style="width:491px;height:65px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Distribution channels that enable customers to conveniently buy the product, such as wholesalers, retailers, agents or vending machines.</span></section></td></tr><tr><td style="width:143px;height:69px;"><p><strong>Price</strong></p></td><td style="width:491px;height:69px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The amount paid for a particular good or service. Pricing decisions must entice customers, yet allow the firm to be profitable.</span></section></td></tr><tr><td style="width:143px;height:85px;"><p><strong>Process</strong></p></td><td style="width:491px;height:85px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">As part of the extended marketing mix (for services) this refers to the way that a service is provided, e.g. payment systems, waiting times and queueing systems, after-sales care, and methods of delivery.</span></section></td></tr><tr><td style="width:143px;height:56px;"><p><strong>Product</strong></p></td><td style="width:491px;height:56px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A tangible good or an intangible service that satisfies the needs or wants of the customer.</span></section></td></tr><tr><td style="width:143px;height:75px;"><p><strong>Product orientation</strong></p></td><td style="width:491px;height:75px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">An approach to marketing that focuses on making products a business knows how to make well, rather than primarily concentrating on the needs and desires of potential customers.</span></section></td></tr><tr><td style="width:143px;height:62px;"><p><strong>Promotion</strong></p></td><td style="width:491px;height:62px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Communicating relevant product information to inform and persuade customers to buy the good or service.</span></section></td></tr><tr><td style="width:143px;height:65px;"><p><strong>Services</strong></p></td><td style="width:491px;height:65px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Intangible (non-physical) products, such as taxi rides, haircuts, visits to the cinema or theatre, and restaurants.</span></section></td></tr><tr><td style="width:143px;height:67px;"><p><strong>Social marketing</strong></p></td><td style="width:491px;height:67px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Marketing activities that aim to influence or change people’s attitudes and behaviour for the good of society as a whole, rather than primarily to make a profit.</span></section></td></tr><tr><td style="width:143px;height:72px;"><p><strong>Target markets</strong></p></td><td style="width:491px;height:72px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The group or groups of customers that businesses aim their products at, such as females, children, high-income earners or a particular ethnic group of customers.</span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.2 Key terms - Marketing planning (including introduction to the 4 Ps)</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Bargain products</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Goods or services that are those perceived by customers to be of high quality but sold at a low price.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Consumer profiles</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The demographic and psychographic characteristics of consumers in different market segments.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Cowboy products</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Goods or services that are perceived by customers to be of low quality but high price.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Differentiation</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The process of distinguishing an organization’s products from those of other firms in the same industry.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Economy brands</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Goods or services that are perceived by customers to be of low quality and sold at a low price.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Geographic segmentation</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The marketing process that involves characterising consumers according to their different geographical locations.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Market segment</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A distinct group of customers with similar characteristics, tastes and preferences.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Marketing mix</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The key elements of a marketing strategy to ensure its success in meeting the needs and wants of the organization’s customers and the firm’s marketing objectives.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Marketing plan</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A document that shows the marketing objectives and marketing strategy of a particular business.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Marketing planning</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The structured process of formulating marketing objectives and appropriate marketing strategies to achieve these goals.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Marketing strategies</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The different long-term actions used by an organization to achieve its marketing goals.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Mass markets</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A marketing approach that focuses on supplying to wide-ranging groups of customers in a market, without having split them into separate market segments, such as the markets for bottled water or breakfast cereal.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Niche markets</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Marketing approach that focuses on supplying highly specialised products to cater for a small and select target market.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Place</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The methods used to distribute products to customers, such as the use of wholesalers, retailers, agents or even vending machines.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Premium products</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Goods or services that are perceived by customers to be of high quality and high price.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Price</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The amount that customers pay to purchase a particular product.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Product</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A physical good or an intangible service sold by a business. This term can be used to refer to goods and/or services.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Product position map</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Also known as a <strong>perception map</strong>, this is a graphical illustration of customer perceptions of a business, its products, and/or brands in comparison to other firms in the industry.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Promotion</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Communicating with customers so that they know about the product, and are persuaded to buy it.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Psychographic segmentation</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Segmentation that involves characterising consumers according to people’s lifestyle choices and personal values.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Target market</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The group of customers that an organization focuses on selling its products to.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Targeting</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Targeting is the marketing practice of creating and using an appropriate marketing mix and marketing strategies to cater for different market segments.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Unique selling point (USP)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">An exclusive feature or aspect of a business, its products, or brands that makes it distinct from others in the same industry.</span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.3 Key terms - Sales forecasting (HL Only)</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><em><strong>3-point moving average</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The arithmetic mean of three consecutive numbers, such as sales revenue figures for the past three months.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>4-point moving average</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The arithmetic mean of four consecutive numbers, such as sales revenue figures for the past four months.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Correlation</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><p><span style="color:#FF0000;"><em>The relationship between two sets of numbers or variables, such as sales revenue at different times of the year.</em></span></p></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Cyclical variations</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The recurring fluctuations in sales revenues due to the trade cycle (or business cycle).</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Extrapolation</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>A forecasting technique that identifies the trend from using past data and then extending this trend line to predict future sales.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Mean</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The most common measure of an average, by calculating the sum of all the numbers in the data set divided by the number of items in that data set.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Median</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The average based on the middle value of the data set, which splits values in the higher half from those in the lower half.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Modal</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The average as measured by the number or value that occurs most frequently in a data set.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Moving average</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>A mathematical method used to discover the underlying trend in a data set by smoothing out such variations in a data set.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Random variations</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>Irregular, erratic or unexpected fluctuations in sales revenues, caused by unexpected and unpredictable factors.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Range</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>The difference between the highest and the lowest values in a data set.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Sales forecasting</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>A quantitative technique used to predict a firm’s level of sales revenue over a given time period.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Seasonal variations</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>Foreseeable periodic fluctuations in sales revenues over a known period of time, such as certain months or times of the year.</em></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><em><strong>Time series analysis</strong></em></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><em>A statistical technique used to identify trends in historical data, such as the figures for a firm’s monthly sales revenues.</em></span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.4 Key terms - Market research</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Academic journals</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Also known as <strong>scholarly journals</strong>, these are publications that contain the latest educational research and academic theory.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Ad-hoc market research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Market research conducted as and when required for a specific problem that the organization is facing.</span></p></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Bar graphs</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Method of visual presentation of data, used to compare figures in a study, such as sales figures during different time periods.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Cluster sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Sampling method that involves identifying the population by geographical areas (clusters), and then interviewing people within certain clusters randomly.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Consumer panel</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A focus group comprised of people who belong to the firm’s target segment(s), referred to in order to gather their expert feedback.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Continuous market research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A type of market research that is conducted on an ongoing basis, rather than a one-off basis.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Convenience sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Sampling method that refers to the practice of using people that are within easy reach, in an unplanned way, to conduct market research.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Ethics</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The moral principles and values held by society. Regarding the ethics of market research, this refers to all aspects of how the research is designed to how the results are shared and presented.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Focus groups</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Small groups of targeted customers with similar characteristics and/or similar interests.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Government publications</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">These are official documents released by governments and government agencies.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Histograms</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Type of bar graph, used to show frequency and the range within a data set.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Interviews</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Market research method that involves dialogue between the interviewer (the market researcher) and the interviewees (respondents to the market research).</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Line graphs</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Method of visual presentation of data, used to show time-series data, i.e. changes in variables over time.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Market research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to the range of marketing activities designed to determine the opinions, beliefs and feelings of existing and potential customers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Media articles</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Professional documents or articles in print or online media. Unlike academic journals, media articles are written by trained journalists and authors, rather than by academics at university.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Non-sampling error</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">When an inappropriate sampling methodology is used, i.e. mistakes not attributed to human errors in market research design.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Observations</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A form of primary market research that involve researchers watching, monitoring and recording how customers behave or react to certain situations.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Pie charts</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Method of visual presentation of data, used to show percentages, such as the percentage of participants who chose a particular option in a survey.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Population</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to all members of a particular group or market.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Primary research (or field research)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The process of conducting market research to collect new (original) data to gain more insight into the issue being investigated, such as questionnaires, interviews, observations and focus groups.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Qualitative research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A category of market research based on the opinions of participants. It creates detailed and non-numerical information.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Quantitative research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A category of market research based on gathering facts and figures, i.e. quantifiable data.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Quota sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A form of sampling in which the researcher selects a certain number of people from each market segment and then grouped according to characteristics (such as age or gender).</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Quota sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The sampling technique where researchers select a number of candidates from different market segments and then group them together according to various characteristics.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Random sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Sampling method that selects anyone in the population for market research, allowing all respondents the same equal chance of being selected.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Sample</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The proportion or subgroup of the population selected for market research purposes.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Sampling error</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">When a researcher inappropriately designs market research, resulting in bias and unrepresentative results.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Scatter diagrams</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Method of visual presentation of data, used to show possible correlations between two variables, such as consumer income and expenditure levels.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Secondary research</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Also known as <strong>desk research</strong>, this refers to the collection of data and information that has already been collected by another source, i.e. the data or information already exists. Examples include gathering sources from trade journals, specialist magazines, newspapers and government statistics.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Snowballing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Sampling method that relies on participants referring or recommending further subjects to take part in the market research.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Stratified sampling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A sampling method where the population is segmented into various strata (layers of sub-groups) that share similar characteristics – rather like with quota sampling.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Survey</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A data collection tool used to gather primary market research about individuals or their opinions, using a series of standardised questions.</span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.5 Key terms - The marketing mix (Product, Place, Promotion, Place)</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><p><span style="color:#4B0082;"><strong>The marketing mix: Product</strong></span></p><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><strong>BCG matrix</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Developed by the Boston Consulting Group (BCG), this visual marketing management tool is used to analyse a firm’s product portfolio.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Brand awareness</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The degree of customer knowledge and recognition of a particular brand in order to gain more customers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Brand development</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Part of a firm’s marketing strategy in communicating the value of a brand and what the brand stands for.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Brand loyalty</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The degree of customer devotion to a particular brand.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Brand value</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The expected earning potential of a brand, i.e. the likely future earning potential (value) of a particular brand.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Cash cows</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Products in the BCG Matrix with high market share in a low growth (mature) market. They are the largest cash earners for a business.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Dogs</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Products in the BCG Matrix that operate in low growth markets yet have low market share, so are at the end of their product life cycle.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Extension strategies</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Marketing approaches used to prolong or lengthen a product’s life cycle, such as price reductions or new promotional strategies.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Packaging</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The art of presenting a product in an advantageous way.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Product life cycle (PLC)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Marketing theory showing the different stages that most products go through from their research and development (R&D) stage to their final removal from the market.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Question mark</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Also referred to as <strong>problem child</strong>, this is a product in the BCG Matrix that have low market share in a high growth market.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Stars</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Products in the BCG Matrix with high or rising market share in a high growth market.</span></section></td></tr></tbody></table><hr class="hidden"><p><span style="color:#4B0082;"><strong>The marketing mix: Price</strong></span></p><table align="center" border="1" cellpadding="0" cellspacing="0" width="793"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Cost-plus pricing </strong>(or<strong> mark-up pricing</strong>)</p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Adds a profit margin to the costs of production, thereby ensuring that each unit sold contributes towards the profits of the firm.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Loss leader pricing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Pricing a product below its cost of production so as to attract customers to also buy other items (with a higher profit margin).</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Mark-up </strong>(or the<strong> profit margin</strong>)</p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The difference between the price and the cost per unit.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Penetration pricing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Setting a low price in order to enter an industry, which allows the firm to compete against existing firms and to gain market share.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Predatory pricing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A strategy that involves charging a low price, sometimes even below the cost, so as to damage the sales of rivals.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Price</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The value of a good or service that is paid by the customer.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Price discrimination</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Involves a business charging different prices to different market segments for basically the same good or service, such as adult and child fares at the cinema, theme park or concert.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Price leadership</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A strategy of following the price set by the dominant firm in the industry (the firm with the largest market share).</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Psychological pricing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Uses numbers and decimals in such a way to make the price seem (artificially or psychologically) lower, such as $9.95 instead of $10.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Skimming</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The pricing strategy that sets a high price during the introductory (launch) of a new and original product, with gradual price reductions as rival products enter the market.</span></section></td></tr></tbody></table><hr class="hidden"><p><span style="color:#4B0082;"><strong>The marketing mix: Promotion</strong></span></p><table align="center" border="1" cellpadding="0" cellspacing="0" height="1214" width="769"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Above the line promotion (ATL)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Form of promotion that refers to any form of paid-for promotional technique through independent consumer media.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Advertising</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A form of visual and/or audio marketing communication used to inform and persuade people to buy a certain good or service.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Below the line promotion (BTL)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Form of promotion that refers to all forms of advertising or promotion that do not use external media agents.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Celebrity endorsement</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The use of famous people (such as film stars, musicians and sports personalities) to promote a brand or organization.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Customer loyalty schemes</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Reward systems used to encourage customers to make repurchases, such as price discounts or free gifts for members.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Direct mail</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The use of postal correspondence for promotional purposes.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Direct marketing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to a business communicating information about its products straight to customers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Guerrilla marketing </strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The use of unconventional but innovative promotional strategies that make a major impact but at a fraction of cost of traditional above the line (ATL) promotional methods.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Merchandise</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to a retailer’s range of goods that are available for sale.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Personal selling</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The use of sales personnel to sell goods and services with customers on a face-to-face basis.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Point of sale (POS)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The promotion of products in retail outlets where customers can buy the goods.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Promotion</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The various marketing processes used to inform customers about a product and persuading them to purchase the product.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Promotional mix</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The range of above and below the line methods used to promote a product as part of a larger marketing mix.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Public relations</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The management function overseeing public attitudes and opinions of an organization to gain public understanding and support.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Sales promotion</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A short term promotional tactic used to entice customers to buy a certain product.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Social media marketing (SMM)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The use of online content that users can upload to a website using a suitable medium, such as a blog, podcast, video or image.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Social networking</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the use of Internet based websites, platforms and apps to share online content by building online communities.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Sponsorship</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">A promotional strategy that involves a business providing financial support to another organization or event in return for marketing exposure.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Trade fair</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Promotional event where specialist firms exhibit their products for sale to potential customers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Viral marketing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The spread of information about a business, its brands and its goods and services from one Internet user to others.</span></section></td></tr></tbody></table><hr class="hidden"><p><span style="color:#4B0082;"><strong>The marketing mix: Place</strong></span></p><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Agents</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">These independent intermediaries help to sell a vendor’s products in return for commission, such as real estate agents.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Distribution (place)</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The marketing process of getting the right products to the right customers in the right place and at the right time.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Distribution channel</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Also known as a <strong>channel of distribution</strong>, this refers to the path taken for a product to get from the producer to the consumer.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Intermediary</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">A third-party person or business that offers distribution services as part of a channel of distribution, such as agents, wholesalers and retailers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>One-channel distribution network</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">This method of distribution involves the use of a single intermediary, such as an agent or retailers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Retailers</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">These are commercial businesses that sell a manufacturer’s products directly to consumers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Telemarketing</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The use of telephone systems to sell products directly to the potential customers, such as insurance, movie tickets or package holidays.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Three-channel distribution network</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">This type of distribution channel uses three intermediaries. It often involves an agent who sells the goods to wholesalers on behalf of the producer. In turn, wholesalers sell to retailers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Two-channel distribution network</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">This method of distribution involves the use of two intermediaries, usually wholesalers and retailers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Wholesalers</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">These are intermediaries that buy products from a manufacturer and sell these in smaller quantities to retailers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Zero-channel distribution network</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Also known as <strong>direct distribution</strong>, this method does not use any intermediaries, i.e. the producer sells directly to the consumer.</span></span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.6 Key terms - The Extended Marketing Mix (HL Only)</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Goods</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">These are physical products, such as handbags, cars, and laptops.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>People</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In the extended marketing mix, this refers to an organization’s employees who are vital as they are the ones who interact with customers and deliver the service.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Physical evidence</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In the extended marketing mix, this refers to the tangible aspects of a service, such as the physical appearance or tangible aspects of a restaurant, hotel, school or coffee shop.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Process</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">In the extended marketing mix, this refers to the way in which a service is provided or delivered to customers.</span></span></section></td></tr><tr><td style="width:143px;height:47px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Services</strong></span></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">These are intangible products, such as education, haircuts, and train rides.</span></span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.7 Key terms - International Marketing (HL Only)</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Business etiquette</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the mannerisms and customs by which business is conducted in different parts of the world.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Cultural exports</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the extensive availability and consumption of traditionally domestic products in overseas markets.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Direct investment</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This involves a business setting up operations in other countries, such as production facilities or distribution services.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>E-commerce</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the buying and selling of goods and services via electronic means, most notably the Internet.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Exporting</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This method of entering international markets involves a business selling its products to overseas customers without having to physically establish production or distribution facilities abroad.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Franchising</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This involves international marketers seeking a third party organization (the franchisee) to supply the goods and services of another business (franchisor).</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Globalization</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This is the process of the integration and interdependence of the world’s economies, in terms of social, political and economic convergence.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Joint venture</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">International marketers use this method to sell their products in overseas markets by two or more parent companies forming a new business entity in its own legal right.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>International marketing</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the marketing of an organization’s goods and services in overseas markets.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Legal constraints</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">These rules and regulations of a country set the permissible parameters that international marketers can operate within, such as consumer protection laws.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Operational implications</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refers to the daily operations of a business, such as monitoring of exchange rates and conducting market research in order to remain competitive.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Opportunities</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">These are factors in the external business environment that create prospects or openings for a firm’s growth and development.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Strategic alliance</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This method is used by international marketers to sell their products in overseas markets by using partner firms in other countries, working in collaboration on a specific project.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Strategic implications</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">This refer to the longer term operations of a business, such as the formation of a strategic alliance or joint venture as part of an international marketing strategy.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Threats</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">These are the external factors that create challenges for an organization wishing to expand in overseas markets.</span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><div class="panel" style="box-shadow: rgba(0, 0, 42, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><h6><span style="font-family:arial,helvetica,sans-serif;">Unit 4.8 Key terms - E-commerce</span></h6></div></div><div class="panel-body" style="background-color: inherit;"><div><table align="center" border="1" cellpadding="0" cellspacing="0" height="529" width="780"><tbody><tr><td style="width:143px;height:47px;"><p><strong>Business to business (B2B)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">B2B refers to e-commerce that takes place between two or more organizations, rather than between businesses and consumers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Business to consumer (B2C)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">B2C refers to online businesses selling goods and services directly to consumers, i.e. the end users of the products.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Consumer to consumer (C2C)</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The third type of e-commerce is called C2C, which involves customers selling directly to other consumers.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Cybercrime</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">Refers to online fraudulent activities, such as hacking of personal data and exploitation of internet security.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>E-commerce</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The buying of goods and services online, using Internet technologies.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>E-tailer</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">An online business that otherwise operates like a traditional retailer.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Footloose operations</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">E-commerce businesses can operate away from prime (and expensive) locations.</span></section></td></tr><tr><td style="width:143px;height:47px;"><p><strong>Price transparency</strong></p></td><td style="width:491px;height:47px;"><section class="tib-hiddenbox"><span style="color:#FF0000;">The openness in communications about the different prices being charged by different online businesses.</span></section></td></tr></tbody></table></div></div><div class="panel-footer" style="background-color: rgba(61, 30, 128, 0.1);"><div><p>text</p></div></div></div><hr class="hidden"><p>Click the link here to access resources for<span style="font-family:arial,helvetica,sans-serif;"> the <a href="https://www.thinkib.net/businessmanagement/page/21684/unit-4" title="Unit 4">Unit 4 Marketing</a> homepage.</span></p><hr class="hidden"><p>Click the link here to return to the <a 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