1. Unit 3 Introduction to Marketing Assignment 4 P4/P6/M3 Date Set: 6 th Jul 15 Deadline: 20 th Jul 15

2. Assignment 4 Learning Outcomes All WILL be able to describe the 4 P’s and why they are crucial for a business like John Lewis PASS All SHOULD be able to research and analyse the results of market research for a new product introduced at John Lewis MERIT All COULD develop a marketing mix for the product targeted at a defined group of customers DISTINCTION Learning Objective: To know how to use market research for marketing planning.

3. Marketing Mix Learning Objective: To know how to use market research for marketing planning.

4. The marketing mix is a marketing tool. It is a checklist. It focuses attention on the various elements of marketing needed to carry out marketing strategy. It consists of four factors:

5. Product What is meant by the term ‘product range’? Explain at least 2 different examples What are the benefits versus features of product or service for targeted customers? What is the product life cycle? Explain a product in each stage of the life cycle Learning Objective: To know how to use market research for marketing planning.

6. Benefits Local, do not have to travel outside of Folkestone Delivery to your home of larger items Features “Try before you buy” area Toys and games will be divide into age groups Savings account where customers can save up to buy the toy/game of their choice by putting money on a gift card Order in service Learning Objective: To know how to use market research for marketing planning.

7. Learning Objective: To know how to use market research for marketing planning.

8. Pricing Strategies Premium pricing – high for quality ( Apple Mac) Penetration pricing – low to persuade purchase Economy pricing – low to increase sales Price skimming – high to introduce product Psychological pricing – £9.99 Captive product pricing – product low, accessories high (printer/ink) Product line pricing – different product different prices (car) Learning Objective: To know how to use market research for marketing planning.

9. What is Place? Distribution of the product to the purchaser, whether it is another business or the final consumer. (Get product to the right place)

10. Method by which a product is sold to the consumer. Distribution Channel? The product/service is sold by the supplier to the final consumer without the intervention of any intermediaries. Using Intermediaries to sell products/services like wholesalers, retailers and agents. Buy direct from producers.

11. Channels of Distribution

12. Markets Business to Consumer Retail Mail Order (Catalogues) Direct Selling (door to door, telephone) Internet Multi-channel Business to Business Direct Sales E-commerce – web design services Mail Order/Catalogue Multi-channel

13. Choosing appropriate channels Cost Competitors Target Market Market Coverage Control Marketing Mix Volume of Sales

14. Promotion What is AIDA? (see Thorpe Park example) Describe the elements of the promotional mix: – Advertising (different media, online techniques) – Sales promotion (coupons, samples, displays) – Personal selling (face-2-face) – Public relations (any dealings with the customer) Learning Objective: To know how to use market research for marketing planning.

15. Using Promotional Materials A - Attention I - Interest D - DesireA - Action