2.1-3 - Marketing Mix

• The marketing mix consists of four P's, Price, Product, Promotion and Place
• Resource depletion is the reduction in the amount of a resource available for use.
• Waste Minimalization is reducing the quantity of resources that are discarded in the production process
• Consumer durables are goods that can be used repeatedly over a period of time like washing machines and cars
• the design mix is the range of features that are important when designing a product
• Emotional Branding is the practice of using the emotions of a consumer to build a brand
• Ergonomics is the study of how people interact with their environment and the equipment they use
• Ethical sourcing is the usage of materials, components and services from suppliers that respect their environment, treat their workforce well and trade with integrity.
• above the line promotion is placing adverts using the media
• below the line promotion is any promotion not involving the media
• A manufactured brand is created by the manufacturers, uses advertising to build loyalty, charges higher prices and has a very loyal customer base.
• An Own-label brand is created by the retailers, good value for money for the customers, high retailer profits and ties the consumer to the retailer
• One way to build a brand is to develop a USP. This makes it much easier to differentiate the brand from and make it stand out from similar products and services.