Business Unit 3 Section 1

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  • Created by: Maria
  • Created on: 18-04-12 11:19
  • Section 1

Marketing Mix

  • Product, Place, Price, Promotion.

Market Research

  • Used to improve the business.
  • Secondary Research (Involves using data that already exists)
  • Primary Research (Information that is newly created)
  • Qualititative Data ( Based on people's opinions)
  • Quantitative Data (Based on statistics and numbers)

Product Trial and Repeat Purchases

Product Life Cycle

  • Sales and Products can be shown in a graph.
  • Introduction - Sales are low, Profits are negative or low.
  • Growth - Sales increase rapidly
  • Maturity - Sales reach highest point, profits start to fall as competition increases.
  • Decline - Sales fall, and profits fall

 Extending the Life Cycle.

  • Add USP ( Unique selling point )
  • Find new markets
  • Widen product…


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