4.2 Marketing planning
Unit 4.2 - Marketing planning
Marketing planning refers to the structured process of formulating marketing objectives and appropriate marketing strategies to achieve these goals. For example, businesses will typically aim to increase their market share. Marketing planning is about formulating the various marketing strategies to achieve these marketing goals.
This unit was relatively large and broad in content in the previous course (final exams N23), so teaching and learning needed to be planned carefully to ensure all learning outcomes were covered in sufficient depth. Whilst this fact remains true in the new course, the content in the new Unit 4.2 has been largely reduced.
Try to create more opportunities for students to make connections between the contents of this unit in the syllabus with other strategic aspects of the course. Again, using your school as an example often helps students to apply theory to practice, such as discussing the reasons why marketing planning is important for an IB World School. For example:
How does the role of marketing planning apply to your school?
What is your school's target market(s) and market segment(s)?
Does the school have a unique selling proposition (USP)?
How does your school differentiate itself and its products (educational services and facilities such as sporting provisions) from other schools in the local area?
The learning outcomes (or assessment objectives) for this section of the IB Business Management syllabus are:
The role of marketing planning (AO2)
Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)
The difference between niche market and mass market (AO2)
The importance of having a unique selling point/proposition (USP) (AO2)
How organizations can differentiate themselves and their products from competitors (AO3)
Teacher only boxNote to teachers
Please note the following amendments to the new syllabus (first exams 2024):
The elements of a marketing plan (AO1) has been removed from the syllabus.
The four Ps of the marketing mix (AO2) has been removed from this section of the syllabus. This was previously rather repetitive as the four Ps remain the focus on Unit 4.5.
Similarly, "an appropriate marketing mix for a particular product or business (AO2, AO4)" has also been removed from this part of the syllabus as it remains a feature of Unit 4.5.
The effectiveness of a marketing mix in achieving marketing objectives (AO3) has been removed.
"The difference between target markets and market segments (AO2)" and "Possible target markets and market segments in a given situation (AO4)" as well as "A product position map / perception map (AO2, AO4)" have all been amalgamated as "Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)".
Also, note that the previous guide referred to position and perception maps (as interchangable terms). In the new guide, only "position map" is used.
How organizations target and segment their market and create consumer profiles (AO2) has been removed, i.e., there is no need for students to learn about how businesses create consumer profiles.
Please be aware of the above points if/when using resources for the previous syllabus, such as past IB examination papers and mark schemes.
InThinking Business Management resources
Click the hyperlinks below to access the InThinking resources for this particular section of the IB Business Management syllabus.
Segmentation, targeting (target market) and positioning (position maps) (AO2, AO4)
The importance of having a unique selling point/proposition (USP) (AO2)
How organizations can differentiate themselves and their products from competitors (AO3)
Marketing planning - Question bank (over 65 questions for students to try out for this topic)
Glossary of key terms (Marketing planning)
Other resources
Read this very interesting BBC article about some of the worst marketing mistakes in recent times, hence highlighting the importance of careful marketing planning.
Return to the Unit 4 - Marketing homepage
