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The Marketing Mix- 4p's Revision Notes

Product

Definition-
Product: the good or service provided by a business

Product design: deciding on the make-up of a product so that it works well, looks
good and can be produced economically.

Product development: when a firm creates a new or improved good or…

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industries such as broadcasting ideas are usually brainstormed
between or suggested by staff. For some products ideas will normally
come from externally sourced market research, which identifies what
the customer wants from the product their reactions to it, how they
want it to be sold etc.
o Analysis of ideas,…

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Product portfolio analysis- only a few businesses rely on just one product, in a
multi-product firm they have a product portfolio, like Heinz for example they have 57
varities of product, the product portfolio can be seen in two ways the boston matrix
and focus on core vs product profileration.…

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3. growth
4. Maturity
5. decline

stages of the product life cycle:
1. Development ­ in this stage a company will undertake various steps to
prepare a product for launch
o Generation of ideas
o Analysis of ideas
o Product development
o Test marketing
o Launch

2. Introduction ­ this…

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o Changing the image- lucozade was originally a drink to overcome illness but Is
now more successful as an energy drink.
o Targeting new markets this can involve moving beyond the original region or
country targeted by the product in order to appeal to different consumers.
o Promotions , advertisements…

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davidsalter

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These are comprehensive notes on the product part of the marketing mix, including product life cycle and boston matrix.

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