Key Idea: At HL, Topic 4.2 is about turning marketing ideas into a structured plan and judging whether the chosen objectives, strategies and measures are realistic and useful for the business.
🎯 Objectives: **Objectives —** what the business wants to achieve. **Examples —** increase market share, raise awareness, improve retention. **Should be specific and measurable**.
🗺️ Strategies: **Strategies —** how the business plans to achieve them. **Examples —** penetration, market development, product development, diversification. **Longer-term direction rather than one-off actions**.
🛠️ Tactics: **Tactics —** detailed actions taken now. **Examples —** social media campaign, discount offer, influencer partnership. **Short-term and specific**.
🔄 Marketing planning in practice: **Planning cycle —** analyse, plan, implement, evaluate, adjust. **Good planning is continuous**. **Plans should be flexible, not fixed forever**.
📏 Measuring market share: **Market share by value —** based on revenue. **Market share by volume —** based on units sold. **Can be tracked over time to judge success**.
⚠️ Limits of market share data: **Limitations —** does not show profitability. **May depend on how the market is defined**. **Does not explain why performance changed**.
HL students must not confuse objectives, strategies and tactics. This is one of the most common marketing mistakes and weakens otherwise good answers.
When using market share, go beyond the figure. Explain what it suggests about competitiveness, growth, positioning or the likely success of the marketing strategy.
A stronger HL answer also judges whether the plan is realistic. A marketing plan may look strong on paper but still fail if the budget is too small, the data is weak or the market changes quickly.
Example: A strong answer: A marketing plan helps the business by setting clear objectives and strategies, making it easier to allocate resources and measure success. However, if market conditions change quickly, the plan may need updating to remain useful.
Important: Common triggers: state marketing objectives, distinguish strategy from tactics, explain the purpose of a marketing plan, analyse long-term benefits of strategy, or evaluate the usefulness of market share data.
- Identify whether the question is about objectives, strategy, planning or market share
- Define the term precisely
- Explain how it works in practice
- Apply it to the business
- Add one benefit and one limitation where relevant
- For HL, judge whether the approach is realistic and useful