The department which links the company
with customer tastes, wants and needs.
It develops the Marketing Mix
Consists of the 4 Ps of marketing.......
The Marketing
Mix
Product
Price
Place
Promotion
What is the difference between the product of
small and large companies?
 Small
businesses – one product
 Large businesses – a range of products
This range is called a Product Portfolio/Mix
 They
will have different target markets
 They may diversify
Sales
Introduction
Growth
Time
Maturity
Decline
Label the diagram
Describe each stage (P113)
A step taken to extend the product lifecycle
Examples
 Updated designs
 New advertising campaign
 Targeting new markets with an existing product
 New brand image
Explain how these products extended their
product lifecycle?
What could be the problems of doing this?
 iPhone
 Cadbury
Dairy Milk
 Nintendo Wii
 Crunchy Nut Cornflakes
 Lucozade
Virgin Money!
Read through the worksheet ‘Product Life
Cycle’.
Complete the table on Page 2.
Answer question 1
 http://news.bbc.co.uk/1/hi/uk/7814502.stm
Questions
 Why are customers prepared to pay a higher
price for energy efficient light bulbs
 Explain
why the 100 watt light bulb is being
phased out by retailers
Questions
 Why do customers still buy the iPod?
 Why is the iPod starting to decline?