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Business Studies IGCSEPDF 92
212 pagesrevision 46931
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Marketing plays several key roles:
● Identifying customer needs through market research
● Satisfying customer needs by offering the right goods and services
● Maintaining customer loyalty through relationship-building strategies such as:
○ Loyalty card programs
○ Discounts for repeat customers
○ After-sales service
○ Updates on new products and offers
● Gaining information about customers to develop better future products
● Anticipating changes in customer needs to stay ahead of market trends
In simpler terms, marketing means understanding what customers want, meeting those
needs effectively, and ensuring the business earns a profit.
Increase awareness of the product or brand
Boost sales revenue and profit
Maintain or grow market share
○ Example: If total toy sales = $1,000,000 and a company earns $300,000, its
market share =
(300,000/1,000,000) x 100 = 30%
3. The Role of Marketing in a Business
4. Objectives of the Marketing Department
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