Essay The Marketing Mix
The product is the most important aspect of the marketing mix. The product can be a service or even a holiday destination. Products have both tangible and intangible benefits. Tangible benefits include benefits, which can be measured such as the top speed of a car. Intangible benefits are benefits that cannot be measured such as the enjoyment the customer will get from the product. It is important that the product is changed as necessary to bring it up to date and prevent it from being overtaken by competitors.
I’m going to selling a travel service using air travel. It will be a low cost airline that will fly from a variety of different airports in the UK …show more content…
This is a futuristic version of my company’s product life cycle.
Introductory Phase If I’m going to release a brand new product or service then it will be a baby in the market and will need to be introduced to your market. How I price, promote and place this into the market place will need careful consideration. This is Belle Air has chosen imitate the market leaders and only differentiate through product quality.
Growth Phase if my product or service has been enjoying being the only one on the market, you may have noticed that others are also joining in and entering a competitive product or service and this will have an affect of the healthy sales my product might be enjoying at the moment. How I react to this will have an impact on the survival of my product. This is inevitable and it’s important to let the customers know that our product is still the best around, so the company will to make additions to the product, like offering car hire and train tickets on the flight.
Maturity Phase If you product is one of many competing products, and then you can consider that your product is a mature one. If this is the case then you have to take care that interest for your product is not lost. Maturity of a