- Section 1
- Product, Place, Price, Promotion.
- 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…