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Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Cambridge National Enterprise & Marketing
RO64: Marketing & Enterprise Concepts Exam Tips & Key Terms List
Name Teacher
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 1: Understand how to target a market Key Term Definition
Customer Segmentation
Market Segmentation
Age Segmentation
Gender Segmentation
Occupation Segmentation
Income Segmentation
Lifestyle Segmentation
Geographic Segmentation
Market Share
Quality
Convenience
Price
Marker Research
Primary Research
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Secondary Research
Observations
Questionnaires
Surveys
Focus Group
Consumer Trials
Internal Data
Books / newspaper /
trade magazine
Government Publications /
Statistics
Customer Feedback
Customer Comment Card
Online Surveys
Customer Retention
Market Mapping
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 2: Understand what makes a product or service financially viable Key Term Definition
Fixed Costs
Variable Costs
Total Costs
Utilities
Salaries
Rent
Raw Materials
Components
Stock
Packaging
Sales Revenue
Sales Revenue Calculation
Break-Even
Break-Even Formula
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Break-Even Point
Break-Even Graph
Margin of Safety
Profit Calculation
Profit
Profit per unit calculation
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 3: Understand product development Key Term Definition
The Product Lifecycle
Development
Introduction
Growth
Maturity
Decline
Extension Strategies
Product Differentiation
Brand Image
Marketing Mix
USP
Selling Price
Product Function
Product Features
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Product Design
External factors
Technological Developments
Recession
Boom
Copyright
Patent
Product Safety Standards
Value Added
Target Market
Advertising
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 4: Understand how to attract and retain customers Key Term Definition
Income Level
Competitors Price
Production Cost
Pricing Strategies
Competitive Pricing
Psychological Pricing
Price Skimming
Price Penetration
Advertising
Leaflets
Social Media
Websites
Newspapers
Magazines
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Radio
Sales Promotion
Discounts
Competitions
BOGOF
Point of Sale Advertising
Free Gifts / Product Trails
Loyalty Schemes
Customer Service
Customer Retention
Customer Engagement
After Sales Service
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 5: Understand factors for consideration when starting up a business Key Term Definition
Sole Trader
Partnership
Limited Lability Partnership
Sleeping Partner
Franchise
Franchisee
Franchisor
HMRC
Limited Liability
Unlimited Liability
Bank Loan
Finance from Family and
friends
Crowdfunding
Business Angels
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Small Business Grants
Personal Savings
Business Plan
Aims and Objectives
Cash Flow
Business Strategy
Sales Plan
Marketing Plan
Financial Forecasts
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Learning Outcome 6: Understand different functional activities needed to support a business start-up Key Term Definition
Functional Areas
Human Resources PURPOSE
Operations PURPOSE
Finance PURPOSE
Marketing PURPOSE
Recruitment and Selection
Training and Development
Performance Management
Health & Safety
Employment Legislation
The Marketing Mix
Market Research
Production Planning
Quality Control
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Stock Control
Logistics
Cash-Flow monitoring
Financial Reporting
Invoices
Budgets
Suppliers
Supply Chain
Cambridge National – Enterprise & Marketing RO64: Marketing & Enterprise Concepts.
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Top Tips for the EXAM The exam has TWO parts
Part A Part B
• Multiple Choice Questions
• These test your KNOWLEDGE
• 16 questions
• 16 marks
• Written answers – scenario-based questions • There are 64 marks available in section B • Question Command Words include:
• Identify • State • Explain • Calculate • Analyse • Recommend
• These command words require DIFFERENT exam skills