IGCSE Marketing Mix - Product Lesson 1

Recap: Market research

Multiple Choice

Products that are developed before buyers are found

• Unique selling point

• Market-orientated

• Customer surveys

• Online surveys

• Product-orientated

Multiple Choice

Primary data has an advantage over secondary data because

• It is normally less time consuming to gather

• It is unique to the purpose of the research

• It saves time on data analysis

• The data already exists so is cheaper to gather

Multiple Choice

Wegmans conducts a focus group interview regarding customer attitudes towards its Natural Foods department.

• Primary

• Secondary

I will be able

to………

Key Words

Marketing mix; Unique seling point (USP); Brand name; Brand loyalty; Brand image;

Packaging

Ch 12: Marketing Mix – Product

Explain and apply the knowledge on:
•

the four elements of the marketing mix

•

the role of product decisions in the marketing mix

•

the

costs

and

benefits

of

developing

new

products

•

brand image – impact on sales and customer
loyalty

•

the role of packaging

02/05/2023

Key words

Keywords

Definition

Marketing mix

A term which is used to describe all the activities which go into marketing a
product or service. These activities are often summarised as the four Ps – product,
price, place and promotion.

Unique seling point
(USP)

The special feature of a product that differentiates it from the products of
competitors.

Brand name

The unique name of a product that distinguishes it from other brands.

Brand loyalty

When consumers keep buying the same brand again and again instead of choosing
a competitor’s brand.

Brand image

An image or identity given to a product which gives it a personality of its own and
distinguishes it from its competitors’ brands.

Packaging

The physical container or wrapping for a product. It is also used for promotion and
selling appeal.

The 4 Ps of the
marketing mix

Multiple Choice

The marketing mix will emphasis four particular elements often referred to as the 4Ps, they are....

• product, place, promotion and price

• product, piece, promotion and price

• product, place, pride and price

• player, place, promotion and price

• product, place, piece and pride

The role of product decision in
the marketing mix

• Product is the most important

element of marketing mix

• The product needs to exist for the

other elements of marketing mix
to happen

Types of product

• Consumer goods

Goods bought by consumers for their own
use

• Consumer services

Service bought by consumer for their own
use

• Producer goods

Goods produced for other businesses to
use

• Producer services

Services produced to help other
businesses

Multiple Choice

Businesses that buy products to use in their operations; also called the business-to-business market (this can be abbreviated as b-to-b or b2b).

• consumer market

• producer/industrial market

• target market

• Marketing mix

Multiple Choice

An individual who buys products or services for personal use and not for manufacture or resale

• price

• product

• advertising

• consumer

Multiple Choice

Which of these products is an example of a consumer good?

• A bottle soap powder

• A washing machine repair service

• A drink can filling machine

• The design of an advertisement for computers

Multiple Choice

Which of these products is an example of a consumer service?

• A bottle of washing up liquid

• A washing machine repair service

• A drink can filling machine

• The design of an advertisement for computers

Multiple Choice

Which of these products is an example of a producer good?

• A bottle of washing up liquid

• A washing machine repair service

• A drink can filling machine

• The design of an advertisement for computers

What makes a product successful?

Multiple Select

The followings are the features of successful product (choose all the correct ones)

• Design consistent with brand image

• Having distinctive feature/s that makes it different

• Hard to find/rare

• Satisfy existing needs and wantsof customer

Product development
1. Generate new ideas
2. Select the best ideas for further

research

3. Decide if the company will be

able to sell enough to make it a
success

4. Develop prototype
5. Launch the product in one area

to test the market

6. Go to a full launch of the

product to the whole market

The cost and benefit of developing new product

The Cost:
1.

Market research and analysis of the
finding

2.

Producing trial products including the
resulting wastage

3.

Lack of sales if target market is wrong

4.

Loss of company image in the case of
product failure

The benefit:
1.

Unique Selling Point (USP*) – business
will be the first into the market with
the new product.

2.

Diversification- broader range of
products

3.

Allows for expansion into new and
existing market

*USP: the special feature of a product that
differentiates it from the products of competitors

Multiple Choice

Which one of the following is a benefit of new product development?

• It is cheaper to develop a new products

• The latest technology can be a feature of the new product

• Customers will always prefer newly developed products

The importance of brand image

• https://www.youtube.com/watch?v=JKIAOZZritk

The unique name of a product that distinguishes it from
other brands

Multiple Choice

Which of the following is an advantage of a business having a well-known brand name?

• It will not have to do any advertising.

• It can charge lower prices as a result of brand recognition

• It can produce low quality products and sell them

• It will have good consumer recognition of its products

When consumers keep buying the same brand again and
again instead of choosing a competitor’s brand

Multiple Choice

The best example of brand loyalty is

• when a consumer uses the same washing machine for many years

• when a consumer keeps buying products from the same producer

• is when a manufacturer uses the same name for its products

Image or identity given to a product
which gives it personality of its own
and distinguishes it from its
competitors’ brands.

The advantages of having strong
brand image:
• Consumers recognize the firm’s

product more easily

• Their product can be charged higher

than less well-known brands

• Easier to launch new products into

the market if the brand image is
already established

The physical container or wrapping for a
product used for promotional and selling

appeal

https://www.youtube.com/watch?v=9IQz-

9HhJUA

• It protects the product
• It provide information about the product (its ingredients,

price, manufacturing and expiry dates etc.)

• To help consumers recognize the product (the brand name

and logo on the packaging will help identify what product it
is)

• It keeps the product fresh

Multiple Choice

All are important features of packaging for a breakfast cereal except that it must

• contain important health and contents information

• protect the cereal from being crushed whilst transported

• be eye-catching and attract the consumers to the product

•  be able to be re-used by the manufacturer

Plenaries

Poll

How do you understand this topic?

• It is challenging

• It is manageable

• It is easy

Open Ended

3 things I learn from this topic are:

I have been

learning
to………

Key Words

Marketing mix; Unique seling point (USP); Brand name; Brand loyalty; Brand

image; Packaging

Explain and apply the knowledge on:
• the four elements of the marketing mix
• the role of product decisions in the marketing mix
• the costs and benefits of developing new products
• brand image – impact on sales and customer

loyalty

• the role of packaging