Students will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace.
Students will sit an EOU Assessment based on exam questions. The areas assessed will be: - Marketing mix and it's application to varies case studies.
The 4 P’s of marketing- Product, Place, Price, Promotion
When developing a product a business will consider the design mix which consists of function, aesthetics and cost
Is how well a product performs its job
Refers to the look, feel and visual appeal of a product
Show the sales of a product through time, from introduction to decline or extension strategies
Where a business tries to increase its sales of a product that is going into decline e.g. lowering the price, re-advertising etc
Where a business makes their product stand out from their rivals, the product will have a unique selling point (USP)
Producing a lot of products at a low cost and selling these products at a low price
Where products are sold at high price often in Niche markets or where businesses have a strong brand.
A group of people who share one or more common characteristics.
A small market where customers have specific needs, usually high priced goods as less competition
A large market where customers have similar needs and characteristics
This ensures that individuals understand their own role within the workplace and develops analytical skills.
Students must see how organisations work together to bring about change or improvement.
This topic focuses on meeting customer needs through the design, supply, quality and sales decisions a business makes.
An end of unit assessment will be carried out using a case study to allow the student to practice their evaluation and analysis skills in relation to how design, supply, quality can effect sales.
The different systems used by businesses to produce their products. There are 3 main production processes job, bath and flow.
The production of one product (unit) at a time e.g. making one-off products
Where a business produces products in large quantities, but it can be flexible and allow a business to vary the product produced.
A standardised product is produced on a large scale often using a high degree of machinery to produce the product.
The management of the flow of goods and resources through the production process.
Only buy stock when they need it rather than storing stock
The process of managing a business’s major purchases, from raw materials to delivery vans.
The organisation and management within a business of the transport of raw materials and goods
The maximum amount of a stock a business can hold
The length of time between new stock being ordered and its delivery at the factory or shop
Students will understand how businesses can meet different customer needs and be able to analyse and evaluate the different approaches.
The students will gain confidence in understanding different view points from the community.
Students will explore the tools a business has to support financial decision making, including ratio analysis and the use and limitation of a range of financial information
An end of unit assessment will be carried out using a case study to allow the student to practice their calculation, evaluation and analysis skills in relation to how a range of financial ratios and decision making techniques.
The direct costs of purchasing raw materials and manufacturing finished products
A measure of profitability calculated as a percentage of revenue
Relating to the structure of a population e.g. age, gender
The general increase in prices over time.
Students learn new financial skills that will be able to use later in life on a personal and business level.
Students are able to see how mathematical skills are important to use in a wide range of circumstances.
Growing a business means that decisions relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These aspects are considered in this final topic.
An end of unit assessment will be carried out using a case study to allow the student to practice how manage people. They will have to apply the theories that thye have learnt during the term.
The number of employees that are managed by a manager. If a person manages three employees, their span of control is three
A business organisation that has number of levels to its organisation structure.
A flat organization refers to an organization structure with few or no levels of management between management and staff level employees.
A structure where decisions are made at the top of the organisation.
Where decisions are passed down and made at lower levels of chain.
Is when there is too much communication
An employee will be employed by a business on an ongoing basis
An employee will be employed for a fixed amount of time
Someone who is self-employed and contracted by a business to work for them
When a role is only advertised to the business’s existing employees
When a role is advertised to potential applicants both inside and outside the business
Students will learn how they can motivate people and develop new skills in managing people.
Students will work in groups to understand the different ways people can be motivated in the workplace, this gives them an appreciation of different needs of different people.
Students will revise all topics for Theme 1 and 2. They will then sit: Theme 1 Examination {50% of final grade) This is a written paper with multiple choice and objective test questions. Theme 2 examination (50% of final grade) Questions will be a mixture of multiple choice, data response, short answer, extended writing and scenario based questions.
The two papers are divided into three sections: Section A: 35 marks Section B: 30 marks Section C: 25 marks. The paper will consist of calculations, multiple-choice, short-answer and extended-writing questions. Questions in Sections B and C will be based on business contexts given in the paper.
All keywords across Y10 and Y11 Topics
Students will consolidate their learning by undertaking different revision techniques in class to prepare them for their exam.
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