Business Decisions: Business: Pearson (Edexcel): GCSE (9:1)

Marketing mix

A description and the features of the price, product, promotion and place that influence the marketing of goods and services

Integrated Marketing mix

When the various parts of the Marketing mix are linked or are dependent on the others

Elements of the Marketing mix (4 Ps)

Product, Price, Promotion and Place

Marketing strategy

How the elements of the marketing mix are designed and deployed to attract customers

Competitive advantage

How a business seeks to outperform its competitors

Function

How something works or operates

Aesthetics

How something appeals to the senses

Product life cycle

Introduction or launch, growth, maturity and decline

Branding

The name of the product and the associations it has in the mind of the consumer

Distribution

The chain of individuals and organisations that bring a product to the consumer from the producer

Retailer

Usually shops, businesses that sell directly to the public

Innovation

New ideas or products, or new ways of delivering services