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Paper 2
Marketing
Both
Strong marketing aligns product, price, place, and promotion.
Key Facts
- Penetration pricing sets a low price to gain market share.
- Skimming sets a high price for early adopters.
- Promotion includes advertising, social media, and PR.
Topics Covered
Market Research
What you need to know
- •Primary research gathers new data directly.
- •Secondary research uses existing data sources.
Exam Tips
- Explain why the chosen method suits the business size.
Segmentation and Targeting
What you need to know
- •Segment by age, income, location, or lifestyle.
- •Target the segment with the best fit for the product.
Exam Tips
- Link segments to marketing mix decisions.
Marketing Mix
What you need to know
- •Product, price, place, promotion form the 4Ps.
- •Each element must fit the target market.
Exam Tips
- Explain how changing one P affects the others.
Key Terms
segmentation
Dividing a market into customer groups.
target market
The group a business aims to sell to.
USP
Unique selling point that differentiates a product.
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Common Exam Questions
Explain two benefits of market segmentation.
4 markseasyPaper 2
Model Answer
It helps tailor products and promotions to specific customer needs.
What examiners want to see
- ✓Two benefits
- ✓Explanation
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