Unit 4.1 - Introduction to marketing

This section of the syllabus covers the following assessment objectives:

• Market orientation versus product orientation (AO2)

• Market share (AO2, AO4)

• Market growth (AO2, AO4)

• The importance of market share and market leadership (HL only) (AO3)

Unit 4.2 - Marketing planning

This section of the syllabus covers the following assessment objectives:

• The role of marketing planning (AO2)

• Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)

• The difference between niche market and mass market (AO2)

• The importance of having a unique selling point/proposition (USP) (AO2)

• How organizations can differentiate themselves and their products from competitors (AO3)

Unit 4.3 - Sales forecasting (HL Only)

This section of the syllabus covers the following assessment objective:

• The benefits and limitations of sales forecasting (AO3) (HL only)

Unit 4.4 - Market research

This section of the syllabus covers the following assessment objective:

• Why and how organizations carry out market research (AO3)

• The following methods/techniques of primary market research (AO2): (i) Surveys, (ii) Interviews, (iii) Focus groups, and (iv) Observations

• The following methods/techniques of secondary market research (AO2): (i) Market analyses, (ii) Academic journals, (iii) Government publications, (iv) Media articles, and (v) Online content

• The difference between qualitative and quantitative research (AO2)

• The following methods of sampling (AO2): (i) Quota, (ii) Random, and (iii) Convenience

Unit 4.5 - The seven Ps of the marketing mix

This section of the IB Business Management syllabus consists of 7 separate parts, each covering an aspect of the marketing mix (product, price, promotion, place, people, processes, and physical environment). This section of the syllabus covers the following assessment objectives:

4.5.1  Product

• The relationship between the product life cycle, product portfolio and the marketing mix (AO2)
• Extension strategies (AO3)
• The relationship between the product life cycle, investment, profit and cash flow (AO2)
• The following aspects of branding (AO2): (i) Awareness, (ii) Development, (iii) Loyalty, and (iv) Value
• The importance of branding (AO2)

4.5.2  Price

• The appropriateness of the following pricing methods (AO3):

4.5.3  Promotion

• The following aspects of promotion:

(1)  Above the line (ATL) promotion (AO2)

(2)  Below the line (BTL) promotion (AO2)

(3)  Through the line (TTL) promotion (AO2)

• Social media marketing as a promotional strategy (AO3)

4.5.4  Place

• The importance of different types of distribution channels (AO3) (AO3)

4.5.5  People

• The importance of employee-customer relationships in marketing a service and cultural variation in these relationships (AO3)

4.5.6  Processes

• The importance of delivery processes in marketing a service and changes in these processes (AO3)

4.5.7  Physical evidence

• The importance of tangible physical evidence in marketing a service (AO3)

Appropriate marketing mixes

• Appropriate marketing mixes for particular products or businesses (AO3)

Unit 4.6 - International marketing (HL only)

This section of the syllabus covers the following assessment objective:

• The opportunities and threats posed by entering and operating internationally (AO3)