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Enterprise & Marketing

Resources

Exam Preparation

LO1 Learning Outcome 1: Understand how to target a market

1.1 The need for customer segmentation

1.2 Types of market segmentation
1.3 The benefits of market segmentation
1.4 The purpose of market research
1.5 Primary (field) market research methods (physical or digital) and their benefits
1.6 Secondary (desk) market research sources and their benefits
1.7 Gathering Customer feedback

LO2 Learning Outcome 2: Understand what makes a product or service financially viable

2.1 Cost of producing the product or service
2.2 Revenue generated by sales of the product or service
2.3 Use of break-even as an aid to decision making
2.4 Profit level

LO3 Learning Outcome 3: Understand product development

3.1 The product lifecycle
3.2 Extension strategies for products in the product lifecycle and the appropriateness of each
3.3 How to create product differentiation
3.4 The impact of external factors on product development

LO4 Learning Outcome 4: Understand how to attract and retain customers

4.1 Factors to consider when pricing a product to attract and retain customers
4.2 Types of pricing strategies and the appropriateness of each
4.3 Types of advertising methods used to attract and retain customers and the appropriateness of each
4.4 Sales promotion techniques used to attract and retain customers and the appropriateness of each

4.5 How customer service is used to attract and retain customers

LO5 Learning Outcome 5: Understand factors for consideration when starting up a business

5.1 Appropriate forms of ownership for business start-ups, i.e.

Sole traders & Partnerships

Private Limited Companies & Public Limited Companies

Franchises

5.2 Source(s) of capital for business start-ups
5.3 The importance of a business plan

Learning Outcome 6: Understand different functional activities needed to support a business start-up

 
6.1 The purpose of each of the main functional activities that may be needed in a new business
6.2 The main activities of each functional area

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Tips

Exam Board

OCR Cambridge Nationals Level 1&2 Enterprise & Marketing

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