This lesson includes a PowerPoint and a worksheet and covers: a) Calculation of income elasticity of demand b) Interpretation of numerical values of income elasticity of demand c) The factors influencing income elasticity of demand d) The significance of income elasticity of demand to businesses Written by Sarah Hilton for Revisionstation

This lesson includes a PowerPoint and a worksheet and covers: a) Factors leading to a change in demand: changes in the prices of substitutes and complementary goods changes in consumer incomes fashions, tastes and preferences advertising and branding demographics external shocks seasonality Written by Sarah Hilton for Revisionstation

This is a genuine Revisionstation resource written by Sarah Hilton This is the blue front slide version This is a complete lesson with a teacher PowerPoint and student worksheet This lesson covers: a) Types of pricing strategy: cost plus (calculating mark-up on unit cost) price skimming penetration predatory competitive psychological b) Factors that determine the most appropriate pricing strategy for a particular situation: number of USPs/amount of differentiation price elasticity of demand level of competition in the business environment strength of brand stage in the product life cycle costs and the need to make a profit c) Changes in pricing to reflect social trends: online sales price comparison sites

This is a genuine Revisionstation resource written by Sarah Hilton This is the blue front slide version This is a complete lesson with a teacher PowerPoint and student worksheet This lesson covers: a) The product life cycle b) Extension strategies: product promotion c) Boston Matrix and the product portfolio d) Marketing strategies appropriate for different types of market: mass markets niche markets business to business (B2B) and business to consumer (B2C) marketing e) Consumer behaviour – how businesses develop customer loyalty

This is a genuine Revisionstation resource written by Sarah Hilton This is the blue front slide version This is a complete lesson with a teacher PowerPoint and student worksheet This lesson covers: a) Distribution channels b) Changes in distribution to reflect social trends: online distribution changing from product to service

This is a genuine Revisionstation resource written by Sarah Hilton This is the blue front slide version This is a complete lesson with a teacher PowerPoint and student worksheet This lesson covers: a) Types of promotion b) Types of branding c) The benefits of strong branding: added value ability to charge premium prices reduced price elasticity of demand d) Ways to build a brand unique selling points (USPs)/differentiation advertising sponsorship the use of social media e) Changes in branding and promotion to reflect social trends: viral marketing social media emotional branding

This is a genuine Revisionstation resource written by Sarah Hilton This is the blue front slide version This is a complete lesson with a teacher PowerPoint and student worksheet This lesson covers: a) Design mix: function aesthetics cost b) Changes in the elements of the design mix to reflect social trends: concern over resource depletion: designing for waste minimisation, re-use and recycling ethical sourcing