The marketing mix and marketing strategy - questions

Question 1

what makes up the marketing mix (4 P’s)

Answer 1

Product
Price
Promotion
Place

Question 2

what does the design mix consitst of

Answer 2

cost
functionality
aesthetics

Question 3

why cant you priorotise all factors of the design mix

Answer 3

a decision to prioritise the lowest cost of manufacturing the product, will mean a compromise has to be made in both the functionality of the product and the aesthetic qualities of the product.

Question 4

what sould firms consider when designing prodcuts (part of design mix) (5 + explinations

Answer 4

Social trends - Defn: social trends - changing patterns in consumer behaviour that are reflected in changing consumer demands. E.g. cheetah print or small and sleek

Concerns over resource depletion (palm oil?) - consumers are more aware than ever of products that are made through the destruction of the natural environment. Consumers have moved against environmentally destructive products.

Designing for waste management - Consumers are much more conscious about waste. This refers to minimising the amount of energy wanted in production, the amount of waste coming out of the production process and the amount of raw materials that are being used up in production. Firms, when they design new products, should aim to minise all 3 as far as possible to show customers / investors that they care about the planet.

Re-use and recycling - Consumers are turning towards products that can be recycled rather than going to landfill. Firms should aim to ensure that their products are made of recyclable materials and possibly come with refills.

Ethical sourcing - consumers are increasingly interested in where products have come from and whether those materials have come from an ethical source. Firms that can guarantee ethical sourcing can gain a compeitive advantage by being the mosy highly differentiated firm in the industry.