Marketing What is this? Read your definitions sheet. What common features are there in the definitions? Write your own sentence to explain what is is

Marketing – What is it? Satisfying customers to help a business make a profit. This is achieved through the marketing mix.

Task 7 Explain how the business is using the marketing mix to help achieve its aims and objectives

Marketing Mix 1 - Product A business must have products that appeal to customers to be successful Products – physical goods Services – anything provided that helps customers out.

Marketing Mix – 1 Product. Most larger companies such as John Lewis sell a RANGE OF PRODUCTS to appeal to different customers. Companies use a number of ways such as 1) NAME 2) PACKAGING 3) DESIGN / FEATURES OR INGREDIENTS 4) LOGO to make their products stand out to customers. This is called Differentiation If a product has a strong recognised image with customers it is called a BRAND John Lewis has its OWN BRAND and sells other businesses products

John Lewis products.

Types of products Durable – use many times Non Durable – use once Convenience goods – buy from most convenient place Shopping – people will compare before buying e.g. new TV Speciality goods – people make a special effort to select e.g. wedding ring Write down at least 3 John Lewis / Waitrose examples

Core, Tangible and Augmented Core – what does the good or service provide? Tangible (Actual)– description of the main features of a product. Augmented – any extras provided?

What is the core, tangible and augmented for one of these? - Mulberry Elkington PC Bag £738 IPOD TOUCH 4 th GEN 8gb Guarantee for Life

The Product Life Cycle – p32-33 textbook Shows how the sales of a product change over time D – development L – Launch G- Growth M- Maturity D- Decline 1) What happens at each stage ? 2) What would a business need to do at launch and decline stages? 3) What would the business need to do to make sure sales increase at growth? Sales £ Time D L G M DE

Product Life Cycle 1. Development – research and design of the product. No sales. Expensive 2. Launch – initial advertising and promotion. Sales increase slowly. 3. Growth – continued advertising – sales increase. 4. Maturity – high but slowing sales. High profits at this stage. 5. Decline – product – customers moved to newer rivals. Sales fall. Businesses can use extension strategies to prevent the decline stage. They stabilise or even increase sales. Question – what have Apple done with the IPHONE to stop the decline stage?.

What are the implications of the PLC for JL? Think about the products it sells. What would it need to make sure it did?

Task 7 Explain the marketing mix Remember you have your definitions sheet Marketingteacher.com website can help Explain product linked to John Lewis How does JL use products to attract customers? QUALITY, RANGE, LATEST ITEMS, GUARANTEES, OWN BRAND Also explain the services offered by JL to help out customers – use JL website for this. REMEMBER YOU MUST SAY HOW JL USES PRODUCTS / SERVICES SOLD TO ACHIEVE OBJECTIVES

Meeting Objectives Ideas Source products cheaper / buy in bulk – costs lower than sell for = profit Sell quality products – customers reassured – good guarantees e.g. on TV’s – increases sales and repeat business Provide services – experience improved for customers – again attract and retain customers Sell latest products to help grow and keep ahead of rivals Expand services / products sold to increase sales and grow – internet sales, small Waitrose Stores, service station Waitrose, pick up goods from Waitrose stores,