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OCR
A LEVEL
Andy Mottershead
Alex Grant
Judith Kelt
BUSINESS
FOR A LEVEL
Includes AS Level
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OCR Business for A Level Andy Mottershead, Alex Grant, Judith Kelt
9781471836152 May 2015 £34.99
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Andy Mottershead,
Alex Grant and
Judith Kelt
Business
for A Level
Includes AS Level
Contents
Introduction
Introduction to business
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Enterprise and business functions
Business sectors and types of business
Franchises and co-operatives
Business size, growth and external growth
Business objectives and strategy
Chapter 5Stakeholders
Chapter 6 Different stakeholder objectives and mission statements
Chapter 7 Corporate social responsibility (CSR)
Chapter 8 Strategy and implementation
Chapter 9 Business plans
Chapter 10 Risk and uncertainty and opportunity cost
Chapter 11 Contingency planning and crisis management
Chapter 12 Models of strategic choice
Chapter 13 Measures of performance – financial and non-financial
Chapter 14Forecasting
Chapter 15 Decision making and conflicts in decision making
Chapter 16 Decision trees
Chapter 17 Ansoff’s matrix
External influences
Chapter 18
Chapter 19
Chapter 20
Chapter 21
Chapter 22
Chapter 23
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28
Chapter 29
Chapter 30
The market including physical and non-physical markets
Demand and supply and market forces
Competition and market dominance
The EU, emerging markets and the global context
International trade and free trade
Political factors
Economic factors
Social and technological factors and the digital revolution
Ethical factors
Legal factors
Environmental factors and external factors and influences
Causes and effects of change
Managing change
v
 Contents
vi
Accounting and finance within a business environment
Chapter 31 Accounting and finance objectives and strategy
Chapter 32 Sources of finance
Chapter 33 Accounting concepts
Management accounting
Chapter 34
Chapter 35
Chapter 36
Chapter 37
Chapter 38
Financial accounting
Chapter 39
Chapter 40
Chapter 41
Chapter 42
uman resource management within a business
H
environment
Chapter 43 Human resource management objectives
Chapter 44Organisation
Chapter 45Communication
The workforce
Chapter 46 Workforce planning
Chapter 47 Recruitment, selection and training
Chapter 48Appraisal
Chapter 49 Redundancy and dismissal
Management
Chapter 50 Functions of management and leadership
Chapter 51Motivation
Chapter 52 Employer/employee relations: trade unions and consultation
Chapter 53 Employer/employee relations: employment law
Marketing within a business environment
Chapter 54 Marketing within a business environment
Customer needs
Chapter 55 Identifying customer needs
Chapter 56 Customers and consumers, anticipating consumer needs
and the product life cycle
Costs, revenue and profit
Break-even analysis and contribution
Investment appraisal
Budgets and variance
Cash-flow and working capital
Income statements
Statement of financial position
Ratio analysis
External influences on accounting and finance
The marketing strategy
Chapter 57 Product and service marketing
Chapter 58 The marketing mix
Chapter 59Price
Chapter 60Place
Chapter 61Promotion
Operations management within a business environment
Chapter 62 Operations management objectives
Chapter 63 Added value
The production process
Chapter 64 Innovation, research and development
Chapter 65 Methods of production
Chapter 66 Project management
Productive efficiency
Chapter 67Productivity
Chapter 68 Economies and diseconomies of scale
Chapter 69 Capacity utilisation and management
Chapter 70 Stock control
Chapter 71 Lean production
Chapter 72Technology
Productive quality (fit for purpose)
Chapter 73 Internal and external quality standards
Chapter 74 Location and logistics
Contents
Chapter 54
Marketing within a business environment
Marketing objectives
Chapter 54 Marketing within a business environment
In any business it is important to take into
account the situation in the market, the needs
of the consumer and the action of competitors.
Setting marketing objectives is vital to ensure
that all of these factors are taken into account in
the application of the marketing mix. For example,
a business like Unilever might want to introduce a
new range of skin products. Before doing this, it will
need to identify its target market and undertaken
some initial market research to investigate this
market. The business will want to set out its
objectives for any marketing activity at this point.
These objectives might be:
● to achieve a certain level of sales
● to increase market share
● to reach a particular segment of the population.
2
This analysis of the market should help Unilever
in the production of the product range and its
subsequent marketing to consumers. Knowledge of
the market, the consumer and the competition will
help to show the best ways to price and promote
the product when it is launched.
Key term
Marketing objectives: desired outcomes of a
marketing plan or the marketing function.
Setting objectives
Setting objectives involves asking and answering a
series of questions about the present and the future
of the business. One of the main reasons for setting
objectives is to help employees identify the marketing
strategy for the business. The plan will help to explain
necessary actions, set a budget and identify goals that
are to be met. In small firms, the marketing plan may
often be a series of discussions among the staff; in
larger businesses the marketing plan will need to be
a more formal document that can be viewed by all
concerned.
The marketing plan will need to answer these
questions:
■ Where are we now?
■ Where do we want to be?
■ How will we get there?
Where are we now?
This is sometimes called a marketing audit. To answer
this question the business will need to look at the
internal and external factors that affect it. This
will involve doing a SWOT (strengths, weaknesses,
opportunities and threats) analysis. The strengths
and weaknesses are internal factors that are within
the business’s control; the opportunities and threats
are external factors that are likely to be outside the
business’s control. There are economic, social, political
and technological factors, as well as the actions
of competitors. This audit will analyse the product
portfolio in the current business climate, ensuring that
the business matches its product range to the needs
of the consumer.
Where do we want to be?
The answer to this question will involve setting
objectives for the future. This might be a strategic
objective for the whole business, such as growth or
diversification, or it could be a marketing objective,
such as increasing market share or becoming market
leader.
How will we get there?
To answer this question, a strategy for the future of
the business needs to be developed. For example, the
business could set itself an objective of becoming
market leader. This will then require the use of the
marketing mix to formulate a strategy by which this
might be achieved within a particular timeframe.
Advantages
1. The exercise of setting marketing objectives helps
the business to identify what it hopes to achieve
through any spending on marketing. Marketing
planning and marketing are both costly exercises.
Too often a business will spend money in these
areas without having a clear idea of what it hopes
to achieve.
2. Setting clear marketing objectives as a result of
planning is a good way of motivating workers and
setting targets for goals like market share, market
growth or market leadership.
3. Marketing planning helps the business to rank
projects so that money can be targeted and
used where it will be most effective in improving
performance from marketing spending.
4. A marketing plan should make it possible for
the business to assess performance against
expectations. Businesses can often undertake
promotional campaigns with no clear idea of a
result in terms of improved sales, for example.
Marketing planning, if used correctly, should help
to avoid this.
Tips and techniques
It is important to remember that the market and
the economy change very rapidly. Businesses need
to be prepared to adapt their policies to changes in
the market. The most successful firms are those that
identify and predict changes and are prepared to
adapt their policies accordingly.
Assessing success
Once the objectives have been formulated into a
marketing strategy that has been put into operation,
the business needs to measure its success. Marketing
work is completed in order to achieve a goal such as
increasing sales; it is important for the business to
evaluate its success in achieving the goal. For example,
a business might undertake an advertising campaign
in order to launch a new product with a view to
taking 5 per cent of the market within six months of
the launch. Throughout the six months the business
should monitor the situation to see if the target is
likely to be achieved. If sales are slower than expected,
it may be possible to switch the advertising to a
different media or time so that it is more effective in
increasing demand.
OCR Business for A Level
Advantages and disadvantages of
setting objectives
Tips and techniques
Disadvantages
1. It can be the case that marketing planning looks at
every aspect of marketing, except the consumer.
Businesses need to remember that the consumer is
vital to success in any plan.
2. Marketing departments need to ensure that their
plans include other departments in the firm.
There is no point in having a promotional drive
to increase sales if the production department
has not been involved in the planning. Marketing
departments cannot operate in isolation.
3. The marketing objectives need to be specific and
focused rather than vague or wide-ranging. The
objectives should involve a limited number of goals
and concentrate on specific targets.
4. The objectives must also take the external
situation into account. A business selling luxury
holidays is unlikely to achieve a large growth in
sales from a new promotion at a time of economic
recession.
A marketing strategy is the use of some or all of the
4 Ps (product, price, place and promotion) to achieve
a final objective. It is a good idea to always start
with the 4 Ps when suggesting a marketing strategy.
The business can use any of the following measures
to assess the success of putting a marketing plan into
operation.
Sales
S
A
L
E
The business can look at the increase in sales
generated by the implementation of the marketing
plan. So, for example, a business might wish to achieve
3
a particular rate of return on the amount spent on an
advertising campaign. This type of analysis is probably
the most commonly used. However, it is important to
look at sales in the context of the wider picture of the
total market, and whether the total market is rising or
falling. Viking River Cruises, for example, spend large
amounts on sponsorship of television drama. They
will want to be sure that this expense is justified by
increased sales and recognition of the name.
Satisfaction surveys
Market share
For some businesses, the market share they control
is as important as the level of sales. These businesses
will monitor the effect of the marketing campaign on
their share of the market. This may be the case for
supermarkets, who are interested in their share of the
market compared with competitors. Aldi and Lidl have
had to use different sorts of marketing to achieve
brand recognition as they have expanded in the UK.
These will involve sampling a selection of customers
to see if they are happy with the good or service.
Satisfaction surveys are frequently undertaken by
banks, building societies and travel firms. They can be
done by telephone or post, but, increasingly they are
being done on the internet when the customer logs
onto the site of the business.
Chapter 54 Marketing within a business environment
Marketing strategy
4
Number of enquiries/hits
Internet and mail-order businesses will be
particularly interested in the number of enquiries
generated by a marketing campaign. For example,
following a new advertising campaign, a car
insurance company, like Direct Line, will be able
to monitor success by looking at the number of
requests for quotes that it receives.
Strategic planning is a vital element of the
marketing process. To be able to develop and
use a marketing strategy effectively, the business
must have an in-depth knowledge of its market,
its competition and its consumers. The process of
market planning is the first part in the process of
formulating a marketing strategy. The business will
need to prepare a review of its current internal
and external performance using a SWOT analysis.
Alongside this, the business will need to look at the
budget that is available and its productive capacity.
Marketing cannot be carried out in isolation from
the production and financial departments of the
business.
Tip and techniques
Always make sure that your suggested strategy is
appropriate for the size and nature of the business
that you are considering.
Once all these things have been done, the business
will then be ready to put a marketing strategy in
place, taking account of the following factors:
If the business wants to increase its market share, it
will need to look closely at the needs of the consumer
and the actions of competitors.
Size of the business
Small businesses may find it difficult to market
aggressively, particularly if they face competition from
large businesses with more money in their marketing
budgets.
Nature of the market
Businesses in markets like mobile phones and games
consoles, such as Apple and Samsung, need to change
their strategy frequently to take account of new
products and to respond to threats from competitors
and rapid changes in the technology sector.
Management changes
New management in a business will often mean new
ideas about marketing. New managers will usually be
more willing to take risks in an effort to show that
their appointment has been successful for the business.
Competitive strategies
The twenty-first century has seen a huge increase in
the level of competition faced by businesses of all sizes.
Much of this is as a result of the globalisation of world
trade. Today, most businesses compete in markets
with producers from all over the world, so it is vitally
important for each business to develop a marketing
strategy that takes account of these competitors.
Key term
Globalisation: the integration of the countries of the
world through trade, ideas and culture.
In these circumstances, the first thing that the
business needs to do is to identify the competition
and investigate all aspects of competing businesses.
It will usually be easy to identify competitors in
the same line of business, but many businesses
face competition from outside their own segment.
For example, a theme park like Alton Towers might be
in competition for its visitors with a stately home like
Chatsworth House or Warwick Castle, an attraction
like Chester Zoo or even a visit to a shopping mall. All
of these businesses are in the leisure market, trying to
attract the same consumers to visit them.
Once the competition is identified, it is then
necessary to look at all aspects of the way such a
business is operating. For example:
■ How does it market itself?
■ Who are its customers?
■ What are its strengths and weaknesses?
■ What are its objectives for the future?
■ How well is it placed to succeed compared with us?
Having investigated the competition, a business
can then start to develop strategies for competing
within the market. This strategy may be confined to
one product or range within the business; it may be a
range of strategies for different parts of the business;
it may also be directed to increasing profit or market
share, or to allowing the business to grow.
OCR Business for A Level
Business objectives
Types of strategy
Market leader strategies
The majority of markets have one dominant business
that has control over the largest share of the market.
Market leaders use a variety of strategies to retain
that position and improve on it in the long term. They
may try to improve their market share by the use
of aggressive marketing, or they may try to achieve
market growth and at the same time improve their
market share. Tesco is an example of a business that
has used all these tactics to achieve and maintain its
market dominance. For example, Tesco has moved into
many new areas of activity, like banking and insurance;
at the same time it has tried to ensure that it has at
least one retail outlet in every postcode area of the
UK, to give it as wide a market coverage as possible.
Market challenger strategies
In this situation, a business with a smaller market
share may try to attack the dominance of the market
leader. In order to be able to do this, the business will
need a substantial marketing budget at its disposal.
The attack may be made directly by trying to take
market share through the use of promotion. More
commonly, however, the challenge will be made in an
area where the dominant firm is relatively weak.
Market follower strategies
Market leaders will normally respond to market
challenger strategies with some form of retaliatory
action. For example, if one supermarket starts a cutprice campaign, others are likely to follow and the
market leader will be well placed to cut prices most
aggressively to win the price war. In many ways this is
5
a ‘no-win’ situation. All that happens is that profit for
all competitors is reduced. As a consequence, many
businesses are happy to follow the market leader in
whatever actions it takes. For example, the market
follower may introduce new products or services to
match those of the market leader.
Niche market strategies
Niche markets are small corners of a bigger market
where businesses may choose to specialise. The
market segments are usually quite small and
customers have very specific demands. The Morgan
Motor Company operates in a niche market, selling
handmade touring sports cars.
penetration, product development, market
development and diversification. The use of the
marketing mix in these situations is explained by
Ansoff’s Matrix.
Once the business has decided on its marketing
strategy, its performance needs to be monitored and
reviewed at regular intervals. The market situation
will be changing constantly. Businesses cannot afford
to set policies in place and then leave them to run;
nor should marketing strategies be left to operate
without ongoing assessment of their effectiveness.
Unfortunately, the market is subject to constant
change, only some of which can be anticipated.
Marketing strategies will always operate in a climate
of uncertainty. Businesses must be prepared to change
or adapt their objectives in the light of changes in
the market. It might be that a new competitor enters
the market or that the economy takes a downturn.
Objectives must always be realistic and attainable if
they are to be of any use to the business.
Marketing resources
The sports car market is a niche market
Chapter 54 Marketing within a business environment
Differentiation
6
Companies in many areas of the economy will try to
differentiate their product from that of competitors,
in order to try to attract business. For example, the
NatWest Bank uses advertising to inform consumers
that it operates a 24-hour call centre within the UK
and that many of its branches are open on Saturday
mornings. This sets it apart from its main competitors.
Low cost strategies
Some large firms may try to maintain their dominance
in the market through their ability to buy in bulk
from suppliers at low cost per unit. This reduces their
production costs, making it possible for them to pass
these savings on to the consumer in terms of lower
prices. Smaller businesses will be unable to match
these prices because they will not have the power to
command such low prices from their suppliers.
Market growth policies
A business that wants to use its objectives and
marketing strategy to achieve market growth has
four options available to it. These are: market
In order to market a product or service the business
will need the following resources:
■ a marketing budget
■ a marketing department or, for a small firm, someone
with responsibility for the marketing function
■ knowledge of the market in which the business
operates, usually obtained through some form of
market research
■ a set of objectives to be achieved through
marketing set out in a marketing plan or strategy.
In setting out a marketing strategy, one of the most
important requirements is that the business should
be realistic, particularly with regard to the amount of
money it spends. Small firms will only usually be able
to market through the use of local advertising; flyers,
local media and publicity are the most likely methods
of promotion. Only large businesses can afford to run
large marketing departments and make use of national
and international media for promotion. Small firms
may be able to adjust their good or service to meet
the demands of their market, but they are likely to
have less pricing flexibility than larger businesses.
Tips and techniques
Make sure that any strategy you suggest is possible
and feasible in relation to the size of the business.
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The strengths and weaknesses of the business are
internal factors, whereas the opportunities and
threats will be part of the external market in which
the business is trading. For example, for a large
business like Unilever, one of its main strengths is
likely to be the well-known brand names it produces
such as Persil and Comfort. A possible weakness may
be that the customer will begin to view these brands
as old and out of date if Unilever does not keep
re-launching the products in different packaging
or with new properties. Opportunities for a
global company like Unilever will lie in the newly
developing areas of the world economy. The threat
of competition in this oligopolistic market is very
high, and is likely to influence much of the company’s
strategic planning.
Weaknesses
s
Strengths
Pr
Any business making a decision about its future
strategy needs to consider the business situation, both
internally and externally. A SWOT analysis can help
the business to look objectively at its competitive
situation and to decide on the best strategy for the
future. SWOT stands for:
■ Strengths
■ Weaknesses
■ Opportunities
■ Threats.
sla
A SWOT analysis
A SWOT analysis can be carried out by an individual
department within a business or by a business as a
whole. For example, a marketing department might
assess the current market conditions and the quality
of its current marketing strategies. These can then
be considered in relation to the future. What might
happen? How might the competition react? What is
happening in the wider market?
The whole analysis can be used as a forwardlooking tool. The managers can consider how effective
the business is in respect of the environment in which
it operates and adjust their strategies and tactics as
appropriate.
eti
S W
O T
Uses of SWOT analysis
OCR Business for A Level
SWOT analysis
Opportunities
A SWOT analysis of a car
Any business beginning a strategic planning
process for the future will probably begin by
completing a SWOT analysis. The analysis will be
a useful beginning to discussion and planning and
will help the business to identify the best way to
proceed for future success.
Further sources
www.marketingsegmentation.co.uk
www.marketingweek.co.uk
www.marketingdonut.co.uk
Your turn
1. A business allocates 2.5 per cent of its turnover
of £3 million to the marketing budget. How
much is the marketing budget?
A £7,500
C £75,000
B £50,000
D £5,000
2. A business anticipates that it will increase its
sales from 6,000 units a week to 6,500 units a
week as a result of its new marketing strategy.
What is the percentage increase in sales?
A 8.3%
C 0.8%
B 12% D 1.2%
7
3. Which of these elements of a SWOT analysis
are internal to the firm?
A Strengths and threats
B Weaknesses and opportunities
C Strengths and weaknesses
D Opportunities and threats
4. Which of these cannot be used to measure
the size of a firm?
A Market share
B Number of outlets
C Profits
D Turnover
Short questions
1. Explain the meaning of a niche market.
(2)
. Give two ways in which a business can measure
2
the success of a marketing initiative.
(4)
3. What is the difference between market share
and market growth?
(4)
4. Give a definition of globalisation.
(2)
Case Study
Chapter 54 Marketing within a business environment
Karen and Paul Bowen opened their business,
Bespoke Beauty Clinic, in the West Midlands in
2007. In 2010, with the UK in recession, they
made the decision to expand the business and
move to bigger premises. At that point, Karen
was responsible for the beauty treatment side
of the business and Paul was responsible for the
day-to-day management.
8
From the outset, the decision had been made to
operate at the top end of the market. Although
Bespoke offers manicures and tanning, the
bulk of its business comes from treatments like
facials, peels, radio frequency treatments and
electronic lifting treatments. Karen’s training and
experience is in these areas of beauty therapy.
The business has grown rapidly in the past four
years and has taken on four therapists, allowing
Karen to concentrate more on promoting the
business in the local area. For the past three
years the salon has won a national award as
one of the ten ‘most inspirational salons in the
country’.
Karen and Paul had to think very carefully about
how to market their business, especially as they
were located in an area where they were unlikely
to benefit from passing trade. Therefore, wordof-mouth recommendation was going to be
important but they also had to think of other
ways to make themselves known. The business’s
marketing budget was not large and the local
economy was suffering from high rates of
unemployment.
Karen has used her expertise to write articles for
local magazines, like Staffordshire Life, whose target
circulation includes people who are likely to spend
money on beauty treatments. A decision was also
made to spend a large proportion of the budget on
advertising on local independent radio. As a result
of advertising on Signal Radio, Karen was given a
slot on the radio station’s breakfast show to talk
about beauty treatments that are available on the
market, enabling her to publicise her business too.
She is often invited to contribute to the breakfast
show at the radio station. The coverage achieved
by Signal Radio in the local area is 304,000 listeners
from a population of 794,000, which has helped
considerably in the rapid expansion of the business.
1. Explain two factors that Karen and Paul
had to take into account when setting the
marketing budget.
(4)
2. If the total population of Signal Radio’s
coverage area is 794,000 and it is listened to
by 304,000 people, what percentage of the
population is Signal’s market share?
(2)
3. Evaluate the benefits to Bespoke Beauty of
the type of marketing strategy they use. (12)
Total
(18)
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ISBN 978 1471836152
OCR
A LEVEL
BUSINESS
FOR A LEVEL
Includes AS Level
Authors: Andy Mottershead, Alex Grant and Judith Kelt
For first
teaching in
September
2015
This sample chapter is taken from the OCR
Business for A Level Student Book.
Develop your students’ understanding of key
concepts and theories and put them in context with
real-life case studies in this new textbook, written
by our experienced authors for use with the new
2015 OCR Business AS and A Level specifications.
● Guides students through the new course and assessment
structure with advice at the start of the book to help them
understand the requirements of the specifications
● Enables students to put knowledge in context and helps them
analyse business data with case studies of real businesses
included throughout
● Prepares students for assessment with the ‘Your turn’ feature
that contains practice questions including multiple choice,
case study and data response, and questions that test
quantitative skills
ALSO AVAILABLE
Dynamic Learning
OCR A Level Business Dynamic Learning
Dynamic Learning is an online subscription solution that supports
teachers and students with high quality content and unique tools.
Dynamic Learning incorporates Teaching and Learning resources, Whiteboard and
Student eTextbook elements that all work together to give you the ultimate classroom
and homework resource.
To request Inspection Copies and trial the Student eTextbook or pre-order your class
sets visit: www.hoddereducation.co.uk/ALevelBusiness/OCR
Endorsed by OCR
✓OCR confirms that this title fully
supports the new specifications
✓It has passed OCR’s quality
assurance programme
✓Written by a leading Business
educator