Marketing Mix: Product Edexcel GCSE Business 2.2.1

How much would you pay for a pair of these designer shoes?

• Less than £10 - they are ugly!

• Around £50- I guess they might be better quality than the ones you get at the beach store

• Over £100- I'm all about the labels!

Which of the following is not part of the marketing mix?

• Price

• Packaging

• Place

• Promotion

A Ferrari is likely to have a high price tag because the design mix is focused on which of the following (pick 2)?

• function

• aesthetics

• economic manufacture

A product that has been designed in a way to keep costs (a)   is focusing on economic manufacture

Differentiating your product by creating a strong brand will..

• lead to more loyal customers

• lead to more competition

• lead to lower costs

Differentiating your product can help it to stand out from the crowd. Which of the following are methods of differentiation?

• Lower prices

• better quality

• Unique design

• Celebrity endorsements

At the introduction stage of the product life cycle marketing costs will be high and distribution of the product is likely to be smaller. Therefore profits will be (a)  

What are the reasons why profits may fall during the decline stage of the product life cycle?

• sales are increasing

• sales volume is decreasing

• prices may have to be cut due to a saturated market

• the business will be spending more on marketing

Which of the following is an extension strategy used by Coca Cola to extend the product life cycle of Coca Cola (select all that apply)

• Range of can sizes

• Limited edition packaging

• Change brand image

• New flavours

Which of the following product life cycles most resembles that of loom bands?

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