AQA A Level Business 332 Understanding markets and customers (Spec version 2.0)

AS(7131) A-level (7132) Specifications For teaching from September 2023 onwards For as exams in May/June 2024 onwards For a-level exams in May/June 2025 onwards Version 2.0

This lesson covers:

The value of primary and secondary marketing research
Qualitative and quantitative data
Calculate market and sales growth, market share and size (already covered in 331)
The value of sampling
Random
Stratified
Quota
The interpretation of marketing data
positive and negative correlation and an understanding of the strength of the relationship
understanding the concept of confidence intervals
understanding extrapolation.
The interpretation of price and income elasticity of demand data
Interpretation of price and income elasticity of demand (PED and YED)*
Analysis of the impact of changes in price and income on revenue*
The value of the concepts of price and income elasticity of demand to marketing decision makers
The use of data in marketing decision making and planning

This lesson was written by Sarah Hilton for Revisionstation