customer
loyalty intangible service premises product life cycle retail
outlets
a
Something
a company provides to customers that cannot be touched or stored, b
A place where goods or services are sold directly to the customer,
e.g. a shop or services supplied face to face, e.g. a hairdressing
salon. A building used for business purposes.
d
When people regularly buy the same brand of product because they
feel confident that it will meet their needs and wants. The
identifiable
stages from when a product or service is first designed to when it
can no ■ '
longer be sold on the market.
1
2
3
4
5
6
7
All
employees
Employees
Networking
Researching
Providing
a
Delivery
of
Establishment
are
well
have
a specific
at
health
costs
(pay rates,
care
service for
the
service
of
one office per
trained;
client
list.
sector
events,
numbers
of
elderly
people
is
directly to
town
to ensure
uniforms
A
relationship
advertising
staff
required)
so
they can live
clients
in their
recognisable
give
a smart,
is
built and
in
local
that
are
with
dignity
own
homes.
market
presence,
professional
the
client
newspapers,
affordable
to
and
comfort
website
aimed at
appearance.
feels
secure.
website.
government
in
their own
clients,
families
Supervisors
organizations
homes.
and
healthcare
regularly
or
charities.
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professionals.
check
client
A
- €* iOtVCM
fC/t
с
>
satisfaction.
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Z4
1
3.4 Label the diagram putting the activities (a-e) r- '.tocTA,
*nt0
a
l°gical
sequence (1-5), according to the product life cycle in B. a
Develop
and understand corporate goals and strategies to develop replacement
products, b
Develop
marketing mix. с
Develop
strategy, identify and target market segment, differentiate from
competitors.
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- *?
d Implement
and control - provide
resources
to undertake development of replacement product, e Analyse and
understand customer needs and wants, evaluate competition, monitor
POtC
>
Time
the
environment, conduct market research and consider product lifespan.
1 3.2 Choose the correct definition of e,ach of these words or phrases from a and b.
1 3.3 Use a to label the columns in this table representing the marketing strategy of a chain offering domestic help for the elderly, based on the seven Ps.
Over +o
Identify at least TWO products or services with which you are familiar that are at the following stages in the product life cycle: Introduction, Early growth, Maturity, Decline.
The marketing mix
The four Ps / the seven Ps of the marketing mix
The marketing mix refers to the key activities used in marketing an organization's products or services. It is frequently referred to as the four Ps:
Product - the features and benefits of the product or service provided
Price - the costs of production, prices charged by the competitors and customers' expectations
Promotion - how to promote and advertise the product or service, i.e. how to communicate with customers
Place - how to distribute the product and make it available for consumers, e.g. through retail outlets or via the Internet
Some people argue that three other Ps should be added to the marketing mix, especially for organizations that provide intangible services that are generally consumed at the time of purchase and may depend on significant human input rather than tangible products:
Ш People - those involved in the delivery of services to consumers; for example, staff serving in a restaurant are as important as the food on the plate.
Ш Process - how will you deliver the services offered?
Physical evidence - what premises (such as factories and offices), or other tangibles do you need?
Senior managers can control the elements of the marketing mix to keep ahead of competition. The marketing mix can vary at different times throughout the product life cycle.
Product life cycle
Some products have a very long lifespan, requiring a series of different marketing mixes. For example, the price may be reduced or advertising might be increased at times when sales are declining. Other items go out of fashion quickly. The product life cycle is the path of a product from the very beginning through to withdrawal from the market, with six separate stages: