Pearson A Level Business Theme 1

Describes the different distribution channels, what the choice of channel depends on, how distribution channels are changing to reflect social change, and how markets are changing from products to services

Describes the types of pricing strategies - e.g. price skimming, penetration pricing, cost plus pricing, predatory pricing

In-depth notes describing the different types of promotion, the advantages and disadvantages of each, the types of branding, ways to build a brand, and changes in branding and promotion to reflect social trends

Explains the three aspects of the design mix (aesthetics, function and economic manufacture), and how changes in the elements of the design mix can reflect social trends

Explains the factors which affect the demand for a product, what Price Elasticity of Demand (PED) is, why price elasticity matters, the factors influencing price elasticity, and the problems with using price elasticity. Also describes Income Elasticity of Demand (YED), the factors influencing income...

Describes demand and demand curves, factors causing a change in demand, supply, factors causing a shift in supply, market equilibrium and price determination.

Describes market mapping, competitive advantage, product differentiation, and added value

Describes the difference between product and market orientated approaches to businesses, why businesses conduct market research, primary and secondary research and the pros/cons of both, sampling size and representation, how ICT can be used in market research, and market segmentation.

Provides a definition of niche and mass markets, as well as advantages and disadvantages of both. Also explains market size and market share, dynamic markets, how competition affects the market, and risk and uncertainty.

Highlights the distinction between leaders and managers, with the characteristics of a good leader. Also includes a summary of the different leadership styles (autocratic, democratic, laissez faire, paternalistic) with the features involved in all of them.

Explains why motivation is important to a business, the financial and non-financial incentives a business can offer its employees, and the different motivation theories from Maslow, Mayo, Taylor and Herzberg

Explains what organisational design is, organisational structures (e.g. centralised and decentralised, tall and flat, matrix), the key features of organisational structures, and advantages and disadvantages of the structures

Outlines the stages in the recruitment process and the differences between job description and person specification, on the job and off the job training, internal and external recruitment. Also touches on selection methods, benefits of training, and recruitment costs.

Explains how businesses can achieve greater flexibility, redundancy and dismissal, employer/employee relations (e.g. collective or individual bargaining), and the difference between businesses who see their staff as assets and businesses who see their staff as costs.