IGCSE Business Studies _Chapter 10 ' Marketing,competition and the customer '

Points explained in this chapter

3.1.1 The role of marketing:
• Identifying customer needs
• Satisfying customer needs
• Maintaining customer loyalty; building customer relationships
3.1.2 Market changes:
• Why customer/consumer spending patterns may change
• The power and importance of changing customer needs
• Why some markets have become more competitive
• How business can respond to changing spending patterns and increased competition
3.1.3 Concepts of niche marketing and mass marketing:
• Benefits and limitations of each approach to marketing
3.1.4 How and why market segmentation is undertaken:
• How markets can be segmented, e.g. according to age, socio-economic grouping,
location, gender
• Potential benefits of segmentation to business
• Recommend and justify an appropriate method of segmentation in given circumstances

[mcronut]

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[sudarshaniyengar]

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[seifashour]

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[Caa]

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[mcronut]

But i have a doubt(s):
1. What is market share?
2. How can you increase a company's market share?
3. Disadvantages of business segmentation?
and

4. Reasons why market share can change overtime?
THANK YOU FOR THE VIDEO THOUGH!

[Priscilla_]

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[urfavgirll]

sir under limitations of niche market can you explain to me more on how new competitors might enter the market?thank you.