1. 1.3.5 Marketing strategy - cartoon

2. 1.3.5 Marketing strategy - syllabus
Candidates should be able to:
Define the marketing mix
Define the product life cycle
Analyse extension strategies
Assess the Boston Matrix & product portfolio
Evaluate marketing strategies for different types of market (mass and niche; B2B and B2C marketing)
Evaluate consumer behaviour – how firms develop customer loyalty

3. Definitions: the marketing mix
What is the marketing mix?
The integration of ________________
_________________________ designed to achieve the marketing objectives of the business
It is also known as the ______

4. Definitions: product
What does the ‘product’ include?
What is the aim?

5. Definitions: place What does ‘place’ include?
In general the more places there are to buy a product from the better, unless…?
Where could chocolate be sold?

6. Definitions: price
What does ‘pricing’ include?

7. Definition: promotion
What does ‘promotion’ refer to?
E.g.
It is NOT just advertising

8. How do market conditions affect the marketing mix?
If this was an exam question, how would you answer?

9. The Product Life Cycle
The product life cycle is the path of a product from its introduction onto the market, to its eventual disappearance

10. The product life cycle: five stages
Development stage:
Introduction stage:
Growth stage
Maturity stage
Decline stage

11. Extension strategies
Extension strategies occur at the end of the maturity stage when a product is improved or changed in order to increase sales and prevent it falling into decline.

12. How useful is the product life cycle?

13. Product Portfolio
What is a product portfolio?

14. Product Portfolio Analysis – The Boston Matrix
What is product portfolio analysis?
Assessing the existing products to help develop a ___________ range of goods and services
What is the Boston Matrix?
A way of analysing a firm’s products based on market share and market growth

15. Product Portfolio Analysis – The Boston Matrix
Large firms with a wide range of products are most likely to use the Boston Matrix e.g. Unilever
It is used to try and spread the risk
It can help a business focus on products with the most potential

16. The Boston Matrix: the question mark

17. The Boston Matrix: the dog

18. The Boston Matrix: the cash cow

19. The Boston Matrix: the star

20. What can the Boston Matrix be used for?
It can be used to ensure that a firm has a suitably balanced product portfolio:
Question marks are needed to
they may grow into
Stars are needed to
they may bring in new customers
Cash cows can be ‘milked’ for __________ to pay for question marks and stars
Dogs are not very __________ although inevitable!

21. Drawbacks of the Boston Matrix?

22. The Boston Matrix and the product life cycle

23. Consumer marketing and B2B marketing
What is consumer marketing?
E.g.
It is aimed at the general public
Typically there are lots of potential buyers and lots of sellers
What is business to business marketing?
Typically there are fewer buyers and many fewer sellers

24. How do firms develop customer loyalty?