Class notes business Cambridge International AS & A Level Business Second Edition

Local market - in the city
National market – a country
International market – across the country
Institution markets – schools
Reseller markets
Industrial markets- construction
Consumer markets
Digital market- e- commerce
MARKET- refers to a place where buyers and sellers are physically present to
purchase and sell goods and services for a price.
Integrated business functions to help the business to succeed - Finance,
HRM, marketing, operations
Importance of marketing
- Create engagement, keeping customers interested
- Strengthens brand identity and build trust
- Awareness and leads to conversions, increasing
revenue.
- With increased visibility, engagement
- Helps educate potential customers
Marketing - is a process of promoting, selling, distributing a product
Advertising is a component of marketing
Marketing and other business functions:

What is produced How many are What are the How much? which
produced range of products product are sold
offered


MARKETING ORENTATION ( customer or product)
- Refers to a business approach where a company
focuses on its product or customers
- Market research, to gather information, preferences,
behaviours, and trends
- Prioritize customers satisfaction to build a long-term
relationships
MARKETING OBJECTIVES
AND SALES OBJECTIVES :
- Sales target
- Market share
- Brand awareness

,Corporate objectives(set by the entire business) - 5% profit - marketing
objective(setting out what to achieve and when by marketing)_ 12% increase in
market share
ma




Marketing
Corporate objectives
objectives (setting out
(set by the what to
entire achieve and
business) when by
marketing)




Marketing objectives is connected to the corporate objectives
Promotion – to create awareness
Customer orientation –
- Building long term relationships
- Market research
- Focus on communicating the product or service solves
customers problems
- Used feedback to improve products or services
- focuses on the need’s preference and desires of the
targeted customers
product orientation:
- features and attributes of the product or service itself
- quality, innovation, features,
- create new and improved products
- emphasize the features, specification, and
performance of the product
LINK BETWEEN MARKETING AND CORPORATE OBJECTIVES

MAREKTING CORPORATE
INCREASE MARKET SHARE

, FINANCE HRM Operations
Help construct Workforce plan Product
cash flow development
Availability of Enough Capacity needed
the capital manpower , supply and
machines to be
used




DEMAND – refers to the good or services that consumers are willing and able
to purchase
Law of demand- as the price of good decreases, the demand increases and
vice versa, all else being equal
Demand curve – the inverse relationship between price and quantity
demanded.
Factors affecting demand- several factors can shift, including changes in
consumer preferences, income levels, price of related goods
(substitutes and complements), and expectations and future prices
SUPPLY- refers to the quality of a good or services that producers are willing and
able to offer for sale at various prices over a given period
Law of supply - if the supply is high the company will supply if not then they
will not supply
Supply curve – the direct relationship between price and quantity
supplied
Factors affecting supply - including changes in production technology, input
prices, number of sellers, and expectations about futures prices
EQUILIBRIUM- balance between supply and demand
Equilibrium price
Adujustment to equilibrium-


Before the pandemic, the demand and supply for face masks were
stable. The price was affordable, and the quantity supplied met the
regular health and industrial needs
- change: when a pandemic starts, two things happen