3.5.4 The Marketing Mix

A product that has a high market share in a low growth market

• Star

• Cash cow

• Question mark

• Dog

A product that has a high market share in a fast-growth market

• Question mark

• Dog

• Star

• Cash cow

The collection of products that a firm produces

• Extension strategy

• Product life cycle

• Boston matrix

• Product portfolio

Attempts to maintain the sales of a product and prevent it from entering the decline stage of the product life cycle

• Extension strategies

• Product life cycle

• Price skimming

• Penetration pricing

Setting a high price for a product when it first enters the market

• Penetration pricing

• Price skimming

• Loss leader

• Cost plus pricing

When a product is priced by covering the cost of it to the retailer and adding a percentage on top

• Competitive pricing

• Cost plus pricing

• Loss leader

• Price skimming

Organisations that break bulk; they buy in large quantities from producers and sell to retailers

• Wholesalers

• Agents

• Direct marketing

• Retailers

Involves online trading via a mobile phone

• E-commerce

• M-commerce

• Direct marketing

• Distribution channel

Occurs when there is a direct link from the producer to the customer, with no intermediaries

• Retailer

• Wholesaler

• Direct marketing

• E-commerce

How the ownership of a product passes from the producer to the final customer

• Wholesaler

• Distribution channel

• Retailers

• Intermediary