Marketing is the process of identifying what customers want and making sure a business meets those wants profitably.

What is the difference between a customer need and a customer want?

A need is something a customer must have, such as food or shelter. A want is something a customer would like but can live without.

How does marketing inform customers?

Marketing tells customers that a product exists, what it does and where to buy it. Clear information helps customers choose between products.

Why is informing customers especially important when a product is new?

Customers cannot buy a product they have never heard of. A launch campaign builds awareness so that early sales can begin.

OCR GCSE Business J204

Business Activity

Topic overview Enterprise and entrepreneurship Business planning and the business plan Sole traders, partnerships and limited companies Business aims and objectives Internal and external stakeholders Organic and external growth How business functions depend on each other

Marketing

Topic overview The purpose of marketing Primary and secondary market research Market segmentation Product design and the product life cycle Pricing methods Point of sale promotion and advertising Place and the marketing mix

People

Topic overview The role of human resources Organisational structures and ways of working Communication in business Recruitment and selection Employee motivation and retention Training and staff development Employment law

Operations

Topic overview Production processes Quality of goods and services The sales process and customer service Consumer law Business location Procurement and choosing suppliers Logistics and supply chains

Finance

Topic overview The role of the finance function Sources of finance Revenue, costs, profit and loss Break-even Cash, liquidity and profit Cash flow forecasts

Influences on Business

Topic overview Ethical and environmental considerations The economic climate Globalisation and multinational companies International branding and competition

Marketing

The purpose of marketing

3 things to know
Component 01

Overview

What marketing is, identifying customers and their needs and wants, informing customers, target markets and USPs, market and product orientation, and building customer loyalty.

What you need to know

Answer each one before you reveal it.

Your recallNot started

Key term

What is marketing?

Key term

Why must a business identify who its customers are?

Key term

Why is understanding customer needs important to a business?

Questions from this subtopic

Each one with the model answer underneath.

1
What is marketing?
Model answer
Marketing is the process of identifying what customers want and making sure a business meets those wants profitably.
2
Why must a business identify who its customers are?
Model answer
A business needs to know who its customers are before it can design products they will buy. A clear picture of its customers allows the business to aim promotion at the right people.
3
Why is understanding customer needs important to a business?
Model answer
Customer needs change with fashion, technology and income. A business that understands these changes can adapt its products before rivals do.
4
What is the difference between a customer need and a customer want?
Model answer
A need is something a customer must have, such as food or shelter. A want is something a customer would like but can live without.
5
How does marketing inform customers?
Model answer
Marketing tells customers that a product exists, what it does and where to buy it. Clear information helps customers choose between products.
6
Why is informing customers especially important when a product is new?
Model answer
Customers cannot buy a product they have never heard of. A launch campaign builds awareness so that early sales can begin.

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Business Activity

Marketing

People

Operations

Cram a whole paper in one sitting

Sort every topic into what you know and what you do not, then drill only the weak ones.

Customers may receive quality.

poorerbetterhigher

Blank Blitz makes facts automatic

Rapid timed gap-fills on the terms and numbers you need to recall without thinking.

AOwners may gain from higher profit.

BEmployees may lose jobs or face lower pay.

CCustomers may receive poorer quality.

Build It gets the exam shape right

Assemble a full-mark answer from its marking points, in the order an examiner wants them.

Aim means a broad long-term goal of a business.

TrueFalse

Test It catches misconceptions

Spot the fault in a statement. The traps are the mistakes students actually make.

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Brain Breaks between sessions

Short focus games to reset attention, so the next set lands better than the last.

Every question in Marketing, on a schedule.

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