ABSTRACT
After working through this section, and carrying out the associated reading, you should be able to:
Explain the principles of product planning
Explain the product life cycle
Explain the importance of introducing new products and services
Explain the NPD process
Explain the effect of price on the other elements of the marketing mix
Describe different pricing methods
Define the different components of distribution channels, and show how they work together to create a distribution strategy
Explain the factors that influence channel and distribution decisions
Evaluate a range of marketing communication tools and consider their usefulness in different circumstances
Evaluate the range of communications media and consider their impact in different circumstances
Explain the contribution of people, process and physical evidence to the marketing mix
Describe the different methods for measuring marketing outcomes
Explain the adoption of services and products in terms of customer characteristics
Show how a co-ordinated marketing mix contributes to customer satisfaction and competitive advantage
This unit is the largest in the module, accounting for 50% of the overall marks. It should therefore take you about 20 hours to study, including reading around the subject and carrying out the various exercises and tests. You may be studying alone, or you may be part of a class; either way, you do need to put in about that much time!
