Market research is used to identify possible customers, gathering data like Age, Gender, Disposableincome, Residential location, recreationalinterests etc.
Customer Identification
Once a designer knows their targetaudience, they may use certain aesthetic features that are relevant to that group. eg. A developer is more likely to use blacks and silvers when designing a male deodorant and pastel, soft colours for a female market.
Customer Identification
Market research can also identify why customers are motivated to buy certain products like Social and emotional needs, Familyneeds, Budgetpressures and brandpreferences.
Corporate Identity
The branding used to present the image of a company eg. colours, logos and typeset.
This is vital in establishing and maintaining a consumer's loyalty to a brand. The key to identifying their favourite product will be the corporate identity of a brand.
Protected w/ trademarks
Packaging Design
An integral part of the brand eg. Coca-Cola's iconic bottle shape, allows a customer to be familiar with their favourite products and builds trust.
Labelling
eg. Allergens or dietary information, use by dates and possibly the country of origin.
Products like children's toys may have age restrictions to warn consumers of choking hazards and unsuitability for children.
Other examples include the BSIkitemark or the CEmark to indicate they meet basic safetystandards for sale in Europe.
Global Marketing
Requires designers to be sensitive to the religious and cultural beliefs in different countries to ensure customers are not offended and laws are not broken.
Advertising and Promotion
Eg. Tv commercials, Radio commercials, Magazine advertisements and articles, Internet pop-up ads, Billboards, bus shelter posters, social media, In-store demonstrations.
Advertising and Promotion
The internet and social media has changed how products are being advertised. Products can be promoted worldwide with ease and at a lower cost than other ad campaigns like TV commercials.
Cookies
Packets of data are exchanged from the website server to the customer's browser, which allows websites to store certain information about the customer and their preferences. Can be used to track what you were browsing, leading to possible pop-up display adverts similar to products or services you were looking at, known as 'retargeted marketing'.
Personalised video adverts
a form of retargeted marketing which targets consumers who have shown interest in a similar product. Usually linked to a buy now option which directs the customer to a checkout. Often when signing up for free email accounts and social media sites, an individual enters information about their preferences which the app or site can use to direct personalised traffic to their account.
Viral Marketing
the snowball effect of social media marketing
Calculating the cost of production
total direct material costs + total direct labour costs + (total manufacturing overhead costs/the number of units made) = product cost per unit
Manufacturing overhead costs include all the costs associated with production that cannot be easily traced to individual units of product. These costs can include:- Utilities (e.g. electricity, water, and gas)- Rent or lease payments for the production facility- Depreciation of production equipment- Property taxes and insurance for the production facility- Maintenance and repair of production equipment- Salaries and wages for production supervisors and support staff- Cost of supplies and materials used in the production process (e.g. lubricants, cleaning supplies, and protective equipment)