Product or Service Design (Edexcel A Level Business)

An Introduction to the Marketing Mix

• The marketing mix (4Ps of marketing) provides a framework for businesses to create and implement successful marketing strategies

• The 4Ps represent the key elements of a marketing strategy: product, price, place, and promotion

• These four components work together to satisfy the needs and want of a target market while achieving the company's objectives

• By understanding and manipulating the marketing mix, businesses can differentiate themselves from competitors

• A marketing mix is an essential tool for any company looking to maximize its marketing impact and achieve long-term success

Each business combines the different elements of the marketing mix in unique ways to maximize their profitability

The Design Mix

• The product design mix refers to the combination of elements that make up a product's design

  • These elements include function, aesthetics, and cost

• Balancing the elements of function, aesthetics, and cost, helps the product design to be both functional and attractive, while also being cost-effective for both the manufacturer and the consumer

  • Some manufacturers aim to balance all three elements e.g. Fentimans ginger beer is relatively affordable and is packaged in eye catching bottles and the product itself is very good quality

  • Other manufacturers may focus on one aspect, more than the others e.g. Asda own brand of ginger beer is produced at the lowest possible cost and sold to consumers at a very low price

Fentimans prioritises all three elements of the product design while Asda focuses on cost 

Function

• The function of a product refers to its intended purpose and the specific tasks it is designed to perform

• A product's function is the most important aspect of its design because it determines how well the product will meet the needs of its intended users

  • E.g. A multi-plug adaptor that breaks after one month of use will be seen by customers to fulfil its function

Aesthetics

• Aesthetics refers to the product's visual and sensory appeal, including its form, shape, colour, and texture

• Aesthetics play an important role in attracting customers, creating brand loyalty, and generating word of mouth recommendations

  • E.g. Apple products are well known for their pleasing looks and use of quality materials

 Cost

• The cost of production must be considered when designing a product, as it directly affects the price point at which it can be sold

• A well-designed product should balance cost and value, ensuring that customers perceive the product as valuable enough to justify its cost while still maintaining profitability for the manufacturer

  • E.g. Asda own brand of ginger beer is very cheap to produce and is sold at a very low price

Changes in the Design Mix to Reflect Social Trends

• Social trends refer to changes in attitudes, behaviours and lifestyles of people

  • Changes to any of these require companies to adapt their products to remain relevant to their customers

• Social trends can significantly impact the product design mix, especially about concerns over resource depletion and ethical sourcing

Two Current Changes in Social Trends Which Require Adaptation to the Design Mix