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Price, Place, Product, Promotion


Businesses always try to supply products that customers want to buy, at a price that the business can make a profit, and also at a price that the customer will pay for the product. Usually businesses use a strategy called market research. They use this strategy so they can find out what the customers wants on a product e.g. colour and material. A business can then make a product that will meet the customers’ wants and needs, the products will hopefully, be successful Even with the preparations made, businesses can still be unsuccessful on that particular product, it may also lose brand loyalty from customers.

Research and Developing    (R&D)

Many businesses spend a lot of money on researching and developing products, part of research is finding out the wants and needs of the customers, Although research and development can also include testing whether an idea will work or not. Testing ideas is very important in research and development, this is because a first idea made will not always work, so research needs to be carried out to alter the fault or to find an easier way, therefore development comes into play and the idea is re-developed to the new idea. Drug development is one of the main businesses in research and development due to the large demand for new cures.

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       Adidas F50+ boots have been through a large amount of research and development, I think this because the first F50+ boot to come out was the ‘F50’ then the ‘F50+’ boot came out, and now there are new versions of the F50+, these boots are called the ‘F50.7+’ and also the ‘F50.8+’. I feel the main reason they keep bringing an updated version of the boot out is to sustain the competition and increase revenue. Helping with the sales revenue, Adidas has made ‘cheaper’ versions of the F50+ boot, these boots are called the ‘F10+’ and the ...

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