P6: Develop a coherent marketing mix for a new product or service - the iPhone

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Task 9

P6: Develop a coherent marketing mix for a new product or service

Marketing mix

The marketing mix provides a good example and path for business that are developing marketing plans. The marketing mix is made up of four parts which can also be called the four Ps, these are

  • Products
  • Price
  • Place and
  • Production


A product can be anything that is used to satisfy the needs of a Market. A product can be anything ranging from goods, information, ideas or even organisations. In other word is the mixture of services and goods that businesses offer to their target customers.


The price is very important as it determines the company's profit and hence and survival. Also it’s the amount the customer pays for the product.


The place is where the products will be delivered to supermarkets and then they will sell it. The places sometimes are the big four supermarkets.


Promotion is something such as: advertising, public relations, sales organisation and sales promotion. Businesses do promotions for the company so more people can see and it can attract more customers to their businesses

Objectives of developing mix

Support brand building

Support brand building is one of the reasons why t is good to use is because it allows a new product to enter the market which can help increase the existing brands reputation and image.

Satisfy needs and aspirations of targeted group of customers

They need to satisfy what the target group wants and needs and if they don’t satisfy the targeted groups then the product has failed as it has not satisfied the target group.  

Importance of need for cohesion of different elements of marketing mix:

Every part of the marketing mix 4Ps need to be correct because if they are not correct, they won’t have a chance of competing in the market


Product range

A product range is a set of variations on a specific product made to appeal to different market segments

Benefits versus features of product or service for targeted customers

The way that the product will benefit the customer is through allowing them to have a variety of different flavours of the same product for example chocolates…

Concept of product life cycle

The product life cycle is an important concept in marketing. This describes the stages a product goes through from the start when they thought of it and until it’s removed from the market.


Pricing strategy

Business can use different pricing strategies when they are selling their products or service. The price sometimes can be set to maximize their profit for each product they sell.

Premium pricing

Premium pricing is the practice of keeping the price of a product or service high in order to encourage favourable perceptions among buyers

Penetration pricing

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Penetration pricing is the pricing technique of setting a relatively low initial entry price, often lower than the eventual market price, to attract new customers.

Economy pricing

Economy pricing is widely used in the retail food business for groceries such as canned and frozen goods sold under generic food brands where marketing and production costs have been kept to a minimum.

Price skimming

Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, and then lowers the price over time.

Psychological pricing

Psychological pricing is ...

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