The Marketing Mix:

Product

Textbook , Chapter 12 [pg 156-166]

Name:

Class:

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Learning outcomes:
Identify the marketing mix (4Ps)
Differentiate type of product
Identify costs and benefits of developing new products
Explain how the brand image can impact on sales and customer loyalty
Identify role of packaging
Demonstrate an understanding of the product life cycle; main stages and
extension strategies
Draw and interpret a product life cycle diagram
Discuss how the stages of the product life cycle can influence marketing
decisions.eg: promotion and pricing decisions

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The Marketing Mix (4Ps)

P_________

P_________

P_________

P_________

Types of products

1) C_________ goods = Goods that are used up by consumers.

(Example: ___________)

2) Consumer s_______ = Services that are produced for people.

(Example: __________)

3) P ________ goods = Goods produced for businesses.

(Example: __________)

4) Producer s_______ = Services for businesses.

(Example: _______________________)

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What makes a product successful?

It __________ existing needs and wants of consumers.

It has g_______ design- performance reliability; quality should all be

consistent with the products brand image.

It is _________ of stimulating new wants from the consumer.

It has something very __________ that makes it appear different.

The business has produced the _________ product / introduce new

changes to the original product before its competitors.

The product is not too ________ to produce (relative to the price that
could be charged).

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Product Development

1.

2. Select the best ideas for

_______________________

3. _______________________

_________________________for
the product to be a success

_______________________

4. _________________________

5. _______________________

_________________________to
test the market

_______________________

6. Go to a ____________ of the
product to the whole market.

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The Costs and Benefits of developing new product

Benefits (Advantages) Costs (Disadvantages)

The Importance Of Brand Image

Unique name.
Unique packaging.
Needs advertising to enforce the brands qualities.
Higher price than unbranded products.
Higher quality than unbranded products.
Creates a brand image (unique image associated with using the product).
Creates brand loyalty.
Consistent quality.

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Definitions to learn:

Unique Selling Point (USP) ____________________________________

___________________________________________________________

Brand name ________________________________________________

___________________________________________________________

Brand loyalty ________________________________________________

___________________________________________________________

Brand image ________________________________________________

___________________________________________________________

Packaging __________________________________________________
___________________________________________________________

Packaging
Reasons:
1) To protects the product.
2) It is suitable for the product to fit in.
3) It is easy to transport the product.
4) It is eye-catching.
5) It carries information about the product.
6) It is easy to open the container and use the product.
7) It promotes the brand image.

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The Product Life Cycle (Draw the diagram)

Extending the product life cycle

1) To introduce new variations of the original product.
2) To use a new advertising campaign.
3) To sell into new markets.
4) To introduce a new, improved version of the old product.
5) To make small changes to the products design, colour or packaging.
6) To sell through additional or different retail outlet.

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for IGCSE Business Studies, Business news, Study Techniques and lots of resources for
teachers and sudents.