Introduction to the Marketing Mix (OCR GCSE Business)

This involves identifying the features, design, quality, branding, and packaging of the product/service

E.g. HSBC offers different current accounts to meet a variety of customer needs,

• The Premier Account is a fee-free current account aimed at higher income individuals which includes free worldwide travel insurance and preferential interest rates on mortgages

This involves identifying the best pricing strategies to use after having considered the amount of money customers are willing to pay, production costs, competition and expected demand

• E.g. Netflix has recently changed its pricing structure to reflect the different needs of customers

  • Standard service customers pay the lowest subscription fee but programmes include adverts

  • Premium customers pay three times as much but enjoy advert-free, ultra-HD shows

This refers to the distribution channels and physical location, as well as logistics and supply chain management 

• Products aimed at the mass market are sold in as many popular outlets as possible

• Exclusive distribution involves targeting high end customers by limiting the sales outlets

  • E.g. Porsche sports cars are only sold through licensed retailers

This relates to the activities used to communicate and increase awareness of the product to the target market, including advertising, public relations and sales promotions

• E.g. Southwestern Airlines humorous advertising, as well as discounts on tickets and sponsorship of US baseball teams