1.3.1 product/service design

Question 1

Marketing mix meaning

Answer 1

The marketing mix (4P’s) is a framework for business’ successful marketing strategies. Effective marketing mix maximises marketing impact to differentiate business from comp.

Question 2

4P’s Marketing mix:

Answer 2

1- Promotion; promote brand awareness via advertising, sales promotions, marketing
2- Product; the design mix (function/aesthetic) of good
3-Place- location and distribution of services
4- Price- ped depending on price strategies, discounts

Question 3

Design Mix meaning:

Answer 3

Design mix looks at the different features of a product including its features, aesthetics, costs. Product design looks to be functional, attractive, & cost-effective for both manufacturer and consumer. - more profitable

Question 4

Design mix; Function

Answer 4

Function means products intended purpose it is designed to perform.
+builds brand reputation if product functions well - CA
+earn customers trust and loyalty- repeated purchases- profits

-if product sustainable and has long life due to its well function- no repeated purchases- decrease revenue
-higher production costs for good quality goods.

Question 5

Design Mix: Cost

Answer 5

Costs for designing product affects selling price to customers and impacts EoS.
+well designed products cost effective and high value- minimise waste & increase capacity utilisation to gain Eos - increasing profits
+minimising costs allow decrease prices thus gain CA as this increase sales

-minimising costs can reduce quality of good - ruin brand value
-being cost effective increases comp

Question 6

Design Mix: Aesthetics

Answer 6

Aesthetics is product’s visual appeal to the customer in terms of how it looks/feels.
+attracts customers - increase brand reputation - gain CA
+helps with branding products without promotional activities like advertising saving costs
+ adds value to goods allowing business to increase price through aesthetics

-may need to increase spending on advertising to spread awareness in more comp markets
- focus on aesthetics can ruin brand rep due to lack of functionality

Question 7

Changes in design mic to reflect social changes:

Answer 7

Social changes in attitudes significantly impact design mix, especially concerns about ethical sourcing

-customers concerned about use of natural resources & reducing waste - business’ reflect this social change by using fewer materials that are long lasting & easily recycled when designing products.

-Ethical sourcing big concern & customers look for products without the exploiting workers/environmental damage- business’ incorporate sustainable materials and production into design mix for ethicality.