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Summary BUSINESS AND MANAGEMENT IB SUMMARIES $7.99   Add to cart
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  3. Junior / 11th Grade
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Summary

Summary BUSINESS AND MANAGEMENT IB SUMMARIES

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  • Course
  • Business management
  • Institution
  • Junior / 11th Grade

The document, covers key concepts in business studies, focusing on marketing, sources of finance, costs, and revenues. Here’s a breakdown of its main sections: 1. Market Research: Explains the types of market research (primary and secondary) and methods like surveys, interviews, focus groups,...

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  • November 2, 2024
  • 2
  • 2024/2025
  • Summary

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  • Junior / 11th grade
  • Business management
  • 3

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josefinagomez

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1.4 intro to marketing

Product oriented.
Marketing is the function of a business that is making the product first and then trying to seal it,
responsible for understanding the customers needs and inward looking.
developing the right products, setting the right price and
promoting and distributing products the right way
Market oriented:
• first focused on making the product and then trying
Must be linked to other functions of the business ej.
Finance, Human Resources, operation to sell it


Effective marketing is achieved whenthe business is able
to achieve the customers needs and wants successfully




' Market growth: the rate in which a market is ' growing as a whole
over a given time period. If the market growth 1s positive it mean its
getting bigger but it it's negative means the market 's getting smaller


This year market sale - last year market sale x100
Last year market sale


Market share
important to measure the business performance.
• firms sales in time period
x100
• total market sales in time period

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