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.

Design Mix

Identify and explain what each element of the design mix means and why it is important? 
​Provide an example of how this relates to 5 different goods/services?
Function
Corona Beer cans screw on top of each other
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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 Cycle

Draw 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;
  1. costs
  2. pricing
  3. profitability

How is the shape of a product life cycle influenced by:
> Technology
> Brand name

Why is it important to know where you are in the product life cycle?

Why might some people believe that product is the most important part of the 4P's?

Extension strategies

Using the structure of a 3 marker, explain the following extension strategies:

1. Lowering price
2. Advertising
3. Re-branding
4. Re-positioning

The videos below should help with 3 & 4
The Product Life Cycle
Seven video games that changed the world
40 years of video game console sales, magnificently animated
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Apple Logo History
Product Lifecycle - The rebranding of Lucozade