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3.3. Marketing mix

Syllabus
0264–2027–2028
Topic
3.3
Level
—

3.3.1—Product

  • the importance of brand image
  • the role of packaging
  • advantages and disadvantages of developing new products
  • the main stages of the product life cycle: introduction, growth, maturity, decline
  • interpret a product life cycle diagram
  • extension strategies a business could use: new markets, new uses for a product, adapting the product or packaging, increased advertising / sales promotion
  • advantages and disadvantages of different extension strategies
  • recommend and justify an extension strategy to use in a given situation

3.3.2—Price

  • pricing methods: cost-plus, competitive, penetration, skimming, dynamic
  • advantages and disadvantages of different pricing methods
  • recommend and justify an appropriate pricing method for a given situation

3.3.3—Place

  • advantages and disadvantages of different distribution channels: direct to customers, through retailers, wholesalers, agents
  • recommend and justify an appropriate distribution channel for a given situation

3.3.4—Promotion

  • reasons for promotion
  • methods of sales promotion, e.g. vouchers, reward schemes, competitions, special offers / discounts
  • methods of advertising, e.g. social media, direct/targeted emails, leaflets, billboards
  • recommend and justify which method of sales promotion to use in a given situation
  • recommend and justify which method of advertising to use in a given situation

3.3.5—Ecommerce

  • examples of ecommerce, e.g. mobile phone / internet banking, online shopping, online ticketing
  • advantages and disadvantages of ecommerce for businesses
  • advantages and disadvantages of ecommerce for customers

3.3.6—Marketing strategy

  • importance of the different elements in the marketing mix
  • recommend and justify an appropriate marketing mix for a given situation

3.3.7—Entering new markets in other countries as a method of growth

  • advantages of entering new markets in other countries, e.g. increase sales, spread risk
  • disadvantages of entering new markets in other countries, e.g. cultural differences, lack of knowledge, legal requirements

Objective notes

7 learning objectives
ConceptIGCSE Business Studies