Assess the marketing mix for a selected branded product.

1. Assess the marketing mix for a selected branded product.

2. Starter • In pairs discuss • The importance of branding. • How a ‘brand’ can be promoted • What information would be required /needed to communicate the brand to the customer.

4. Assignment Brief – P2 • Assess the marketing mix for a selected branded product. • You need to include information about the marketing mix and the role of promotion. Select a branded product from one of the businesses you have been researching. • Consider the marketing mix for this product and include a section in your report, to address: • How each element of the marketing mix is used by the product. • The importance of each element and how successful each is for this product.

5. Lesson Objectives • By the end of the lesson: • All should be able to explain what the marketing mix is. • All should be able to give examples of how the marketing mix is applied to a chosen brand / product. • Some will be able to assess the importance of the marketing mix for a chosen brand / product.

6. Marketing Mix • What is the marketing mix? • The marketing mix deals with the way in which a business uses price, product, distribution (place) and promotion to market and sell its product.

7. Marketing Mix Why is the marketing mix important when promoting a product? • Also know as the 4 P’s Product Price Promotion Place

8. Product • The product has to have the right features. • It needs a purpose. • It needs a USP. • It needs to be aesthetic • How does it feel, look (size, weight, style, colour etc)

9. Price • The price must be right and what customers are willing to pay for. • The price may need to be competitive. • Price can reflect the ‘value / quality’ of a product. • Products can be priced in a number of ways.

11. Place • Making sure customers are to get access to the product. • Where should it be sold and how. • Channels of distribution • (shops, internet, centre/outer city)

12. Promotion • Advertising the product so your customers know about your product (and want it) • Need to include: • Your message • Why your customers need your product. • Price, Product and Place information. • Different customers respond to different types of media • (TV, Radio, Promotional, Bill Boards etc) Reviews

13. Marketing Mix Product Iphone 5s Price £549 Promotion Website / tv advert Place www.apple.com

14. Task • Using the worksheet provided make notes on how the marketing mix is used for YOUR chosen branded product. • Use the internet as well as your own knowledge to help you.

15. Task • In your report start new section. • Marketing Mix and Promotion. • Write up what the marketing mix is and the elements it contains. • For each of the 4P’s (product, price, place, promotion) describe how they are used by your chosen brand / product.

16. Possible Structure. • Marketing Mix and Promotion for Apple • The marketing mix is…. • It is important because. • It is made up of 4 elements….. • Product. • This is ……… • Apple uses product by…………… • Price • This is • Apple uses price by……. • Place • …. • Promotion

17. Importance of each element and how successful each is for this product. • To Apple which is most important? • Product • Price • Place • Promotion • Why?

18. Importance of each element and how successful each is for this product. • Rank in order the importance of each P to the success of your product / brand. • Why have you chosen that order. • How successful is each P for your product.

19. Task • Go back through your report. • You need to assess the marketing mix for your branded product. • To do this for each P: • Explain how important it is to your product, and • how successful it has been in helping promote your product. • Give reason and examples to demonstrate your points.

20. Lesson Objectives • By the end of the lesson: • All should be able to explain what the marketing mix is. • All should be able to give examples of how the marketing mix is used by a chosen brand / product. • Some will be able to assess the importance of the marketing mix for a chosen brand / product.