ILO:
The design mix:
● function, aesthetics, cost.
The product life cycle:
● the phases of the product life cycle
● extension strategies.
The importance to a business of differentiating a product/ service.
The design mix:
● function, aesthetics, cost.
The product life cycle:
● the phases of the product life cycle
● extension strategies.
The importance to a business of differentiating a product/ service.
Design Mix
Identify and explain what each element of the design mix means and why it is important?
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Function
Brompton launches first battery-powered version of its folding bike
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Aesthetics
Fast Food ADS vs. REALITY Experiment
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Cost
The Truth About Aldi's Really Low Prices
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The importance of the design mix for success? How would the design mix support the different methods of achieving a competitive advantage?
Product Life CycleDraw a product life cyle graph with examples of different products at the different stages.
Explain the financial influences occurring at each stage for the business regarding;
Why do not all product life cycles look the same? Why is it important to know where you are in the product life cycle? What examples are there of extension strategies? Why might some people believe that product is the most important part of the 4P's? |
The Product Life Cycle
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