Analysis of the Marketing Mix

Analysis of new product development decisions

May be required because…

• ·         An existing product is coming to the end of its product lifestyle.
• ·         There are new opportunities opening up due to changes happening in the market.
• ·         The business has a desire to build on the strengths of the brand.
• ·         It is a way of achieving growth.
• ·         To allow them to match what their competitors are doing.

Pricing decisions

• ·         Costs.
• ·         Positioning of the product.
• ·         The stage of the products lifecycle.
• ·         Price elasticity of demand.
• ·         The competitiveness of the market.
• ·         Other elements of the marketing mix.

Promotion decisions

• ·         The target market.
• ·         The message the business is trying to bring across.
• ·         The promotion budget.
• ·         The positioning of the business or the product.
• ·         The competitive environment.

Branding decisions

• ·         The brand represents a promise made by the business.
• ·         As customers, we recogniser brands and associate the brands with particular values.
• ·         The brand’s logo, slogan and anything else that makes it different from competitors recognised.

Distribution decisions

• ·         The degree of coverage (locally, globally and nationally).
• ·         Costs of different distribution strategies.
• ·         The target market.
• ·         Positioning
• ·         Competitors.