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Business Studies IGCSEPDF 90
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3.3 Marketing mix
3.3.1 Product:
3.3.2 Price:
3.3.3 Place — distribution channels:
3.3.4 Promotion:
3.3.5 Technology and the marketing mix:
The limitations and benefits of developing new
products
Brand image; impact on sales and customer
loyalty
The role of packaging
The product life cycle: main stages and
extension strategies; draw and interpret a
product life cycle diagram
How stages of the product life cycle can
influence marketing decisions, e.g. promotion
and pricing decisions
Pricing methods (benefits and limitations of
different methods), e.g. cost plus, competitive,
penetration, skimming, and promotional
Recommend and justify an appropriate pricing
method in given circumstances
Understand the significance of price elasticity:
difference between price elastic demand and
price inelastic demand; importance of the
concept in pricing decisions (knowledge of the
formula and calculations of PED will net be
assessed)
Advantages and disadvantages of different
channels, e.g. use of wholesalers, retailers or
direct to consumers
Recommend and justify an appropriate
distribution channel in given circumstances
The aims of promotion
Different forms of promotion and how they
influence sales, @.g. advertising, sales
promotion
The need for cost-effactiveness in spending the
marketing budget on promotion
Define and explain the concept of e-commerce
The opportunities and threats of e-commerce
to business and consumers
Use of the intemet and social media networks
for promotion