My Revision Notes: Cambridge National Level 1/2 Enterprise and Marketing
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English
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9781510472860
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Unit R064: Enterprise and marketing concepts
LO1: 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 market research
1.6 Secondary market research
1.7 The types of customer feedback techniques available to business start-ups
LO2: 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: Understand product development
3.1 The product life cycle
3.2 Extension strategies for products in the product life cycle and their appropriateness
3.3 How to create product differentiation
3.4 The impact of external factors on product development
LO4: 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 their appropriateness
4.3 Types of advertising methods used to attract and retain customers and their appropriateness
4.4 Sales promotion techniques used to attract and retain customers and their appropriateness
4.5 How customer service is used to attract and retain customers
LO5: Understand factors for consideration when starting up a business
5.1 Appropriate forms of ownership for business start-ups
5.2 Sources of capital for business start-ups
5.3 The importance of a business plan
LO6: 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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