1.3 - Marketing Mix & Stratergy

Question 1

Briefly describe the elements of the design mix

Answer 1

• Function - intended purpose and the specific tasks it is designed to perform
• Aesthetics - visual appearence
• Economic manufacture - cost of production

N.b. don’t confuse economic manufacture with the selling price of the product

Question 2

Changes in the Design Mix to Reflect Social Trends

Answer 2

Social trends refer to changes in attitudes, behaviours and lifestyles of people.
Businesses have to adapt elements of the design mix to reflect chaning social trends:
* concern over resource depletion: designing for waste minimisation, re-use and recycling (e.g. make products more repairable)
* ethical sourcing (e.g. not exploiting workers or environment)

Question 3

Describe below the line promotion with examples

Answer 3

• Marketing communications over which a business has direct control and which do not make use of mass media
• Targeted towards specific audience
• E.g. direct marketing (email, social media, post), sales promotion, personal selling, merchandising (i.e. point-of-sale materials, product displays and store layout), trade fairs

Question 4

Describe above the line promotion with examples

Answer 4

• Advertising activities that are aimed at reaching a wide audience through traditional mass media channels to create awareness about a product, service, or brand.
• e.g. Television, radio, newspapers, magazines and outdoor advertising such as billboards
• Mass market, high cost, non-targeted - not tailored to specific demographiccs

Question 5

Define promotion

Answer 5

Any communication that attempts to influence people to buy products or services.

Question 6

Breifly describe 3 different types of branding

Answer 6

Own brand product
* Own brand or private label branding refers to the use of a retailer’s name to promote a specific product or service
* E.g. ASDA chocolate, Tesco’s Finest range, and Sainsbury’s Basics range

Product branding
* This refers to the use of a unique name, design, or symbol to promote a specific product
* E.g. KitKat, Fanta, and McDonald’s Big Mac

Manufacturer / corporate branding
* This refers to the use of a company name or logo to promote all the products or services offered by the company
* This type of branding is used by companies like Nestlé, Nike, and Apple

Question 7

Define branding

Answer 7

Branding is the process of creating a unique and identifiable name, design, symbol, or other feature that differentiates a product or company from its competitors.

Question 8

Breifly desicribe 3 Changes in Branding & Promotion to Reflect Social Trends

Answer 8

• Viral marketing - a method of marketing whereby consumers are encouraged to share information about a company’s goods or services via the internet
• Social media - producing content, partnerships with influencers
• Emotional branding - build strong emotional connections with their customers by appealing to their values, beliefs, and emotions

Question 9

Give 6 factors that determine the most appropriate pricing stratergy for a situation

Answer 9

• number of USPs/amount of differentiation
• price elasticity of demand
• level of competition in the business environment
• strength of brand
• stage in the product life cycle
• costs and the need to make a profit

Question 10

Give two social trends that have caused changes in pricing

Answer 10

• online sales
• price comparison sites

Question 11

Give two changes in distribution to reflect social trends

Answer 11

• online distribution
• changing from product to service