3.1 - Product/Service Design Flashcards
What is the marketing mix?
The marketing mix is made up of the 4 P’s:
1. The design of the product
2. The promotion and branding techniques
3. The pricing strategy used for the product
4. The type of distribution or place in which the product is sold
How does the marketing mix relate to a business’s marketing strategy?
The marketing mix makes up the marketing strategy, which is the plan a business uses to reach its marketing objectives.
What is the design mix?
The design mix refers to the balance between:
* Function: The product must fulfill its intended purpose.
* Aesthetics: The product must look appealing to consumers.
* Cost: The product should not be too expensive to produce.
Why must a product meet its intended function?
A product that doesn’t fulfill its purpose (e.g., a beautiful chair that’s uncomfortable to sit on) fails to meet customer needs and is unlikely to succeed in the market.
Why is aesthetics important in the design mix?
Products that look unattractive may be difficult to market, even if they are functional (e.g., a clunky car).
How do businesses balance cost in the design mix?
The design shouldn’t be so complex or use expensive materials that production costs become too high.
How might the focus of the design mix differ between businesses? Use the examples of a jewellery vs paperclip business.
A jewelry business might prioritize aesthetics over cost.
A paperclip business might prioritize cost over aesthetics.
How do changing social trends influence the design mix?
Businesses may need to adjust their products to meet consumer demands for:
- Reusability and recyclability: Reducing waste.
- Ethically sourced materials: Preserving the environment and protecting local communities.
Why might businesses choose to make products recyclable or ethically sourced?
- These products can attract environmentally-conscious consumers and may command higher prices.
- However, businesses must consider whether all consumers are willing to pay the premium.
