3. Marketing Mix ProductPromotionPricePlace

4. PRODUCT A product can be either: A good This is tangible (Can be seen, felt, touched, tasted)

5. PRODUCT A product can be either: A service

6. PRODUCT A product can be either: An event

7. PRODUCT A product can be either: An idea

8. PRODUCT A product can be either: A person

9. PRODUCT A product can be either: A place

10. TYPES OF PRODUCTS Products can fall into the following categories: (1)Convenience products These are frequently bought and require minimum thought and consideration.

11. TYPES OF PRODUCTS (2) Shopping products These are bought only after a great deal of consideration and comparison of their price and quality.

12. TYPES OF PRODUCTS (3) Specialty products These are products with unique characteristics or brand identification for which are consumers are willing to make a special effort.

13. (4) Unsought products These products do not sell themselves. The marketer has to make the public aware of them through advertising. Consumers are not interested in buying them because they do not see them as essential

14. FeaturesBranding Packaging Product Life Cycle

15. Feature

16. Features

17. Activity: You have one minute to: List the features of a digital camera Features

18. Possible answers:  Number of megapixels  Size of memory  Optical Zoom  Type of lens  LCD  Focus  Self-timer

19. What is a Brand? This is a name, slogan, sign, symbol or logo that is used to distinguish between products of different companies Branding

20. A recognized brand might be: The use of the ‘Mc’ name by Mc Donald’s in their products (Egg Mc Muffin, Chicken Mc Nugget)

21. The Nike ‘swoosh’ logo

22. The three stripes design on Adidas sports equipment

23. The slogan ‘Finger Licking Good’

24. The colour green in bmobile

25. Why is Branding important? It allows manufacturers to advertise the characteristics and qualities of their products It helps to build brand loyalty It allows customers to easily identify brands

26. Some brand names are so well known that they are used to refer to the type of product.

27. Brand loyal customers do not simply go the store for: CheeseSoft Drink Coffee

28. Homework: Find out the TOP 10 most valuable brands worldwide

29. 1.Coke 2.Microsoft 3.IBM 4.GE 5.Intel 6.Nokia 7.Toyota 8.Disney 9.Mc Donald’s 10. Benz The Coca- Cola Company’s image was the most valuable 8 yrs in a row

30. Packaging is the outer wrapping or container for goods. Packaging

31. Reasons for packaging  It protects the product from damage and keeps it fresh  It enhances the appearance of the product

32. Reasons for packaging  It preserves the life of the product  It makes it convenient for customers to handle  It gives information such as ingredients, expiry dates, correct usage and potential hazards

33. Convenience

35. Safety

36. Appearance

37. This refers to the different stages that a product goes through during its lifetime Product Life Cycle

38. PRODUCT LIFE CYCLE (PLC)

39. Introduction Once a product is developed, it is launched into the market. Advertising is high in this stage to make consumers aware of the product. Sales are low in the beginning of the lifecycle.

40. Growth If the product is successful, sales and profits will rise. This is the stage where most customers are persuaded to purchase the product.

41. Maturity At this stage, sales begin to slow down and even decline. Companies try to improve the product or find a new one to replace it.

42. Decline In this stage, it is clear that the product has lost its appeal. Companies withdraw their products if they do not want to make losses.

43. Examples Flat Screen TV I Pods VHS Mp4 Players Film Cameras Digital Cameras Wi-Fi phones/ laptops Typewriters Hand-written letters Personal computers Portable DVD players