Summary Pearson Edexcel AS/A-Level Business Unit 1 - Marketing and People - 1.3 Marketing Mix and Strategy
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Course
Unit 1 - Marketing and people (9BS0)
Institution
PEARSON (PEARSON)
This is a summary of section 1.3 of the Pearson Edexcel A-Level Business syllabus. The notes are organised according to the syllabus, split up under the headings: Product/Service Design; Branding and Promotion; Pricing Strategies; Distribution; and Marketing Strategy. Each section has a table of ke...
1.3.1 – Product/Service Design
Product/service design The early stage of a product or service in its life cycle when
the idea is conceived and the idea developed before being
launched to market
Design mix The characteristcs of a product that allow it to both meet
needs of the market and efectvely use a business’ resources
Functon The element of the design mix that considers the product or
service must be able to fulfl the primary purpose for which
the consumer purchased
Aesthetcs A USP possibly, the element of the design mix that considers
the look and the feel of the product as well as how our senses
respond to the product
Costs A cost is the expenditure incurred by a frm as part of the
frm’s operatons
Social trends Changes to the characteristcs and attudes of society over
tme
Resource depleton The over use of natural resources that are either non-
renewable or at a rate quicker than they can be renewed
Recycling The process of convertng materials or products that would
have traditonally been waste into reusable materials or
products
Re-use A feature of product design that encourages the consumer to
re-use elements of the product
Ethical sourcing Morality in decision making, inferring doing what is ‘right’,
when dealing with and choosing suppliers
Firms use Research & Development to improve their products. Product development is the
process of developing new products or improving existng products and then bringing them
to market.
The three elements to the design mix are:
Functon
o The good or service must be able to fulfl the primary purpose for which the
consumer purchased.
o Firms may also add additonal features and functons that add value and
potentally give a USP.
Cost
o Whether it’s possible to provide the good or service within a budget or at a
cost point that will stll allow the business to make a proft.
Aesthetc
o The look and the feel of the product; how our senses respond to the product.
o An atractve product can play to the consumers wants instead of needs.
Design must be achievable given the business’ resources.
Social trends may infuence changes in a products design mix. These include:
Concern over resource depleton
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