Marketing mix Flashcards
Design mix
Design mix includes:
Aesthetic, function and cost
What do promotional objectives inform
Informs consumers about a product or persuade them to buy it
What do promotional objectives include
Increasing sales and profits and awareness of products
What will USP help
It helps consumers with product differentiation which may convince them to buy one brand over another
What is price skimming
When a new and innovative products are sold at high prices when they first reach the market
What is price penetration
launching a product at a low price in order to attract customers and gain market share
What is the importance of Aesthetics of a product?
Products and services should provide a sensory stimulation in addition to performing a function
What is the importance of the Cost of a product?
A well-designed products or service is likely to economically viable (they can make a profit)
Therefore designers will need to select materials and processes that minimise costs
What is predatory pricing
Businesses purposely lower the price to force other businesses out of the market
