Product - Marketing Mix (BBC Bitesize Revision GCSE)

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Business Studies

Product

A business can adjust the features, appearance and packaging of a product to create competitive advantage.

What is a product?

Bottles of Volvic mineral water on dispaly (http://www.bbc.co.uk/schools/gcsebitesize/business/images/brand2.jpg)

Brands use packaging and logos to create a brand image

A product is a good or a service that is sold to customers or other businesses. Customers buy a product to meet a need. This means the firm must concentrate on making products that best meet customer requirements.

A business needs to choose the function, appearance and cost most likely to make a product appeal to the target market and stand out from the competition. This is called product differentiation.

How product differentiation is created:

  • Establishing a strong brand image (personality) for a good or service.
  • Making clear the unique selling point (USP) of a good or service, for example, by using the tag line quality items for less than a pound for a chain of discount shops.
  • Offering a better location, features, functions, design, appearance or selling price than rival products.

Bottles of Ribena on display (http://www.bbc.co.uk/schools/gcsebitesize/business/images/brand3.jpg)

Having a brand image helps products to stand out in a competitive market

Firms face a dilemma if they choose to launch a premium brand

Comments

davidsalter

Very good revision notes on the product part of the marketing mix. The test yourself function allows the student to check their progress.

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