1.3 Flashcards
What are the 3 components of the Desgin Mix?
- Aesthetics
- Function
- Economic manufacture
What does aesthetics include?
How the senses respond to the product. e.g. look,feel,smell,taste
What does function include?
Is the product fit for purpose?
function, job, purpose, tasks, reliability, features
What does economic manufacture (cost) include?
can it be made efficiently?
can it be produced at a lower cost than the competitors?
what is the minimum cost the product can be made for whilst retaining quality?
Define Branding
Involves giving a product a name, a sign, a symbol or logo design or any feature that allows customers to instantly recognise the product and differentiate from competitors
Benefits to branding?
- added value
- ability to charge premium prices
- reduced PED
Disadvantages to branding?
- takes a long time (to build trust + loyal consumers)
- very expensive
- limited flexibility (can be difficult to rebrand)
- makes it difficult to change the perception of a business if a scandal were to occur
Types of brands?
- manufacturer brands e.g. Coca-Cola
- own label brands e.g. Tesco value baked beans
- generic brands e.g. paracetamol
Ways to build a brand?
- unique selling points
- sponsorship
- social media (by interacting with customers)
- customer service
- advertising (builds brand awareness)
- colour scheme
- packaging
- slogan
Define Promotion
The process by which people are encouraged to buy an organisation’s product or service
What is the role of promotion?
- allows customers to know what the business is
- encourages the customer to buy from the business
- offers an “incentive” to the customer to buy the product
What is above-the-line promotion?
Placing adverts using the media
Examples of above-the-line promotion?
- TV
- newspapers
- cinema
- radio
- posters and billboards
- internet
Benefits and drawbacks of above-the-line promotion?
+ easy to build brand awareness
+ tailored to reach mass audiences
+ very expensive
- difficult to measure clear results from a campaign
- very expensive
Examples of below-the-line promotion?
- sales promotions
- PR
- merchandising/packaging
- direct mailing
- direct/personal selling
- exhibitions/trade fairs
- sponsorship