What is Marketing The department which links the company with customer tastes wants and needs It develops the Marketing Mix Promotion Place The Marketing Mix Consists of the 4 Ps of marketing ID: 344859
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Slide1
Marketing Mix: ProductSlide2
What is Marketing?
The
department which links the
company
with customer
tastes, wants and needs.
It develops the
Marketing Mix
Slide3
Promotion
Place
The Marketing Mix
Consists of the 4 Ps of marketing.......
Product
The Marketing Mix
PriceSlide4
PRODUCTSlide5
Question!
What
is the difference between
the product of
small and large companies?Slide6Slide7
ANSWER
Small businesses – one product
Large businesses – a range of products
This range is called a
Product Portfolio/MixThey will have different target marketsThey may diversifySlide8
Product Life
Cycle - Example
Sales
Time
Introduction
Growth
Maturity
DeclineSlide9
Task
- Draw A Product Lifecycle
Label the diagram
Describe each stage (P113)Slide10
Extension strategy
A step taken to extend the product lifecycle
Examples
Updated designs
New advertising campaignTargeting new markets with an existing productNew brand image Slide11
Task 2
Explain how these
products extended
their
product lifecycle? What could be the problems of doing this?iPhone
Cadbury Dairy MilkNintendo WiiCrunchy Nut CornflakesLucozadeSlide12
Virgin’s latest extension strategy
Virgin Money!Slide13
TASK 3
Read through the worksheet ‘Product Life Cycle’.
Complete the table on Page 2.
Answer
question 1Slide14
Task 4
http
://news.bbc.co.uk/1/hi/uk/7814502.stm
QuestionsWhy are customers prepared to pay a higher price for energy efficient light bulbsExplain why the 100 watt light bulb is being phased out by retailers Slide15
Task 5
Questions
Why
do customers still buy
the iPod?
Why is the iPod starting to decline?