GCSE Business Studies revision on marketing, including: Market research; Roles of the marketing department; The international market; Market segmentation.

1. MARKETING
GCSE Business Studies

2. THE MARKETING DEPARTMENT
The marketing department’s role is to connect with the customers’ needs and
wants by:
• Finding out what customers needs and wants are, and also what they might
be in the future;
• Ensuring that the business sells what the customers need and want;
• Raising customers awareness of products/services by appealing to customers
in a way that they will remember;
• Ensuring that the products are being targeted as the correct market.
A business can find out about what customers need and want by
conducting research; this research can be either primary or
secondary

3. WHAT IS A MARKET?
▪ A market is where someone is offering a product/service and someone
is willing to pay for the said product or service.

4. THE INTERNATIONAL MARKET
▪ Lots of companies now aim to sell to an international market. This has
been made much easier and cheaper by:
▪ Improvements in transportation
▪ The growth of the internet
▪ Cheaper telephone communications

5. MARKET RESEARCH
▪ Market research is used to identify customers’ needs, wants, and
opinions on a business (including opinions on customer service and
value for money). Market research includes examining the opinions and
buying behaviours of different market segments.
▪ Market research can be either primary or secondary!

6. PRIMARY RESEARCH
▪ Primary research is when original information gets collected and
analysed; this is done for a specific purpose. The opinions of customers
are gained directly.
▪ Examples of this type of research are:
▪ Conducting surveys
▪ Observing customer buying habits through loyalty schemes
▪ Focus groups

7. SECONDARY RESEARCH
▪ Secondary research is when someone, using primary research
techniques, has gathered information and you are viewing their
findings.
▪ These research methods include:
▪ Websites
▪ Databases
▪ Reports
▪ Newspapers
▪ Sales and loyalty card data

8. PRIMARY VS. SECONDARY
Primary Secondary
Advantages Information will be up to date
Information can be tailored to
the business’ needs to its
relevance is guaranteed
Cheaper
Results are instantly available
Disadvantages Can be costly
Slower than secondary
methods
Risk of bias of too small
samples are used
Information may be old
Info may have originally been
collected for a different
purpose so it may be irrelevant

9. OPEN AND CLOSED QUESTIONS
▪ When conducting market research, questions can be either open or
closed.
▪ Closed questions gather:
▪ Quantitative, statistical results
▪ Results as a result of surveys and questionnaires
▪ Open questions gather:
▪ Qualitative data, such as opinions
▪ Understanding of reasons behind customer behaviour
▪ Results as a result of focus groups or interviews

10. MARKET SEGMENTATION
▪ Markets can be split into groups of people who share certain
characteristics that may influence the kinds of products that they buy.
▪ This is called ‘market segmentation’.
Marketing specific
segments (e.g.
under-18s, the
unemployed,
tourists)
Products/services
better meet
consumer needs
Consumer
satisfaction
increases
Customers are
willing to spend
more
Profits increase
Consumers tell
friends about
great products
Business gains
more
customers
Sales increase