How and why market segmentation is undertaken: How markets can be segmented, e.g. according to age, socio-economic grouping, location, gender

The nature and impact of legal controls related to marketing: Impact of legal controls on marketing strategy, e.g. misleading promotion, faulty and dangerous goods

Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; importance of the concept in pricing decisions (knowledge of the formula and calculations of PED will not be assessed)