1.3

• List the 3 components of the design mix

  • Economic manufacture (costs)
  • Aesthetics
  • Function
• Explain how waste minimisation, recycling and ethical sourcing will impact the design mix

  • Increases costs
  • Could impact function (use more ethical materials)
• List the types of promotion

  • Social media
  • Advertising
  • Sponsorship
  • Digital communications
  • Direct Marketing
  • Public relations
  • Sales promotions
  • Personal selling
• List the types of branding

  • Own brand product branding (eg, cream eggs)
  • Corporate branding (eg, cadburys)
• Identify benefits of strong branding

  • Adds value
  • Premium prices
  • Competitive advantage
  • Reduce PeD
• Identify 4 ways to build a stronger brand image

  • USP
  • Advertising
  • Social media
  • Sponsorship
• List and define 6 pricing strategies

  • Cost plus
  • Psychological
  • Price skimming (starts high)
  • Penetration (starts low)
  • Predatory
  • Competitive
• Identify 6 factors that will influence which pricing strategy is most appropriate

  • Brand strength
  • Stage in product life cycle
  • Level of competition
  • USP
  • Costs
• Identify 3 distribution channels

  • 1 stage: producer—> consumer
  • 2 stage: producer -> retailer -> consumer
  • 3 stage: producer -> wholesaler -> retailer -> consumer