Making marketing decisions GCSE Business Studies

Making marketing decisions GCSE Business Studies; watch the below lessons and take the tests we have prepared for you to get good grades.

2.2.1 Product

The design mix:
● function, aesthetics, cost.
The product life cycle:
● the phases of the product life cycle
● extension strategies.
The importance to a business of differentiating a product/service.

2.2.2 Price

Price:
● pricing strategies
● influences on pricing strategies: technology, competition, market segments, product life cycle.

2.2.3 Promotion

Promotion:
● appropriate promotion strategies for different market segments: advertising, sponsorship, product trials, special offers, branding
● the use of technology in promotion: targeted advertising online, viral advertising via social media, e-newsletters.

2.2.4 Place

Place:
● methods of distribution: retailers and e-tailers (e-commerce).

2.2.5 Using the marketing mix to make business decisions

How each element of the marketing mix can influence other
elements.
Using the marketing mix to build competitive advantage.
How an integrated marketing mix can influence competitive
advantage.