2.2

• The product lifecycle:

  Development

  Introduction

  Growth

  Maturity

  Decline
• Extension strategies

  Adapt it

  Change the appearance

  Find new uses

  Encourage use
• The design mix

  Function

  Cost

  Appearance
• Pricing markets

  Niche market = high price and low sales

  Mass Market = low price and high sales
• Influences on price

  Technology

  Market segment

  Product life cycle
• Technology for promotion

  Viral advertising

  e Newsletters
• Distribution channels

  Traditional = manufacturer - customer

  Modern = manufacturer - retailer - customer

  Direct = manufacturer - wholesaler - retailer - customer
• How is the marketing mix used:

  Understand customers

  communicate better

  Target market

  Used to gain competitive advantage
• Promotional methods:

  Advertising

  Sponsorship

  Branding

  Offers

  Product trials