IB Business Management: Marketing Revision

Marketing is a core part of IB Business Management. Revise the key concepts and common mistakes below, then lock them in with the free games.

Key concepts

ProductGood or service offered

PriceWhat buyer pays; signals value

PlaceDistribution channel and outlet

PromotionAdvertising, PR, sales promotion

PeopleStaff who deliver the service

ProcessHow service is delivered

StarHigh growth, high share — needs investment

Cash cowLow growth, high share — milks profit

Question markHigh growth, low share — uncertain

DogLow growth, low share — divest

Brand equityPremium value held in the brand name

Ethical marketingTruthful, fair, non-exploitative promotion

SegmentationSplitting market by demo, geo, psycho

TargetingChoosing which segments to serve

Questions where students often pick the tempting wrong answer — make sure you know the right one:

Is marketing just advertising?✗ Yes, marketing means only advertising. ✓ No — it's the whole mix: product, price, place and promotion.

Does a higher price always reduce sales?✗ Yes, always, for every product. ✓ Usually, but for premium brands a higher price can signal quality.

Test yourself with these quick revision games for this topic: