Product or Service Design (Edexcel A Level Business): Revision Note

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

  • Promotion

• These four components work together to satisfy the needs and wants 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 maximise its marketing impact and achieve long-term success

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

    • For example, Fentimans ginger beer is relatively affordable and is packaged in eye-catching bottles, and the product itself is of very good quality

  • Other manufacturers may focus on one aspect more than the others

    • For example, Asda's own brand of ginger beer is produced at the lowest possible cost and sold to consumers at a very low price

The design mix

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

  • For example, a multi-plug adaptor that breaks after one month of use will not be seen by customers to fulfil its function

Aesthetics

• Aesthetics refer 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

  • For example, 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

  • For example, Asda's 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 people's attitudes, behaviours and lifestyles

  • 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 regarding concerns over resource depletion and ethical sourcing

Social trends that require adaptation of the design mix