1.

PRODUCT

2.PRICE

3.PLACE

4.PROMOTION
 Definition

• Goods and services produced to satisfy a

customer need or want
• Successful product helps to build the brand
And also develop both customer loyalty and
brand loyalty.
• Customer loyalty is both an attitudinal and behavioral tendency to
favor one brand over all others, whether due to satisfaction with
the product or service, its convenience or performance, or simply
familiarity and comfort with the brand.
• Brand is a name, image, or
symbol that distinguishes a
product from competitor’s
product
Brand loyalty is the tendency of consumers
to continuously purchase one brand's
products over another competing brand's
 Developing new products
Costs:
- Needs to carry out a market research to identify
the customer needs, and it is very expensive.
- Requires large capital expenditure
- No guarantee of successful existance
- If investment made by borrowing and the
product is not successful, this will threaten the
survival of the business
Benefits:
- To survive the business by fulfilling the
customer needs and expectatiton
- It will bring competitive advantages e.g. By
charging a high price = high sales
=high profit
- Increasing potential sales = revenue = profit
- Achieve growth and benefits from economies
of scale
 Role of Packaging

Presentation

Convenience Protection

Economy Preservation
Presentation of a packaging should be:
attractive, well-designed and eye-catching,
Role of Packaging – cont’d

Presentation

Convenience Protection

Economy Preservation
Protection of a product packaging increasis the
product life-cycle
Role of Packaging – cont’d

Presentation

Convenience Protection

Economy Preservation
To preserve the original colours, quality, favor,etc.
Role of Packaging – cont’d

Presentation

Convenience Protection

Economy Preservation
Economic value of a packaging
Role of Packaging – cont’d

Presentation

Convenience Protection

Economy Preservation
Easy to carry, light-handled
Product development flow chart
 Different types of products at different
groups of consumers
Consumer Goods Services Capital Goods

• Durable: last • Customer • Produced for

a long time services: other
• Non-durable: personal businesses
used up services and include
quickly or • Product capital
perishable services: for equipment
business • Semi-finished
customers goods:
material or
component
parts used to
produce
other goods
BRAND IMAGE
- To recognise
the product
easily
- To charge a
higher price
than the less
well-known
brands
- Easier to launch
new products
Coca-Cola is a brand known for a product best used at
the time of happiness, joy, and good experience.
It is the 'original cola' and has a 'unique taste'.
 Product Life cycle
• Definition: the stages a product goes through
from when it was first thought of until it finally
is removed from the market.
• Main stages of a product life cycle are:
 Product life Cycle – cont’d

- Products are - Product is beter - Sales are no - Sales are falling

introduced into known by the longer growing - Product
the market consumers nor falling becomes
- Sales are low - Sales are - The most unprofitable
- Heavy cost for increasing profitable stage and withdrawn
promotion - Product starts to in the cycle from the market
earn profit
Marketing Objectives and strategies over a product life cycle
Launch Growth Maturity Decline

Sales Low rising At a peak falling

Increase Build brand Maintain Product or

product loyalty & brand loyalty business
Objective compete
awareness survival
effectively

Offer one Add new Offer a full Keep best-

Product product range sellers, scrap
version versions
the rest
Price
Price & Price low to competitively Defend Adjust prices
Competition create sales to build market share to stay
market shares and profits profitable

Use limited Increase Expand to Reduction of

Place outlets places to buy maximum retailers

Use informative Persuasive Remind Reduce to

customers of minimum or
Promotion advertising to advertising
product introduce an
build awareness quality extension strategy
 Extension strategies

• The maturity stage is the most profitable stage of a product’s life

cycle.
• Extension strategis are done to keep the product in this stage for
as long as possible
 Extension strategies – cont’d

Adapt the
Product/Packaging
Finding new uses for the Finding new markets for Increased Advertising
products the product Example: Smarties
Example: Marina uv
redesigned its packaging,
Example: Kellog’s adverts Example: Johson’s white adverts its product
from cylinder to
of usage not only in targeting adults to use by doing promotional
hexagonal pack; to have
traditional breakfast their product activities
a more up-to-date
appeal.