Unit 3 P1 M1 And D1
Unit 3
P1
Describe how marketing techniques are used in the marketing of products in two organisations
Product cycle
Introduction
The businesses and products I chose happened to be, Nike and their Mercurial football boots, and Sony and their PS3 gaming console. I chose these products because I think they are both reasonably diverse, and in their time, both these products have experienced a range of sections within the product life cycle.
For example, due to Nike’s football boots having to be constantly refreshed and renewed due to high competition, they have experienced, each sector, a number of times. In contrast, the Sony and their PS3 have also experienced similar experiences. For example, due to this specific console being one of the most successful and exclusive gaming consoles of all time, the overall competition has been reasonably low, and due to this, this certain product has seen the product life cycle at a very different perspective by experiencing each sector at a much slower rate.
Product
The diagram presented above dictates the process in which businesses go through, when marketing. Every business will follow this strategy when they advertise and market a product in order to gain the most sales, and to generate a substantial amount of profit.
For example, the first stage of this Product Life Cycle is the Development. This stage entitles a business to conjure up a selected idea, in which they will later hope to produce as a product and then sell. The development stage is where the business will discover the blue prints of their product and how they will later market it.
In other words, the development stage provides a foundation for the selected product as it will be built as a prototype to be later sold to the public in order to increase sales and profits.
This certain stage is very secretive within any organisation. Other businesses do not want to let their competitors have knowledge of what they’re producing, in case they steal and release
P1
Describe how marketing techniques are used in the marketing of products in two organisations
Product cycle
Introduction
The businesses and products I chose happened to be, Nike and their Mercurial football boots, and Sony and their PS3 gaming console. I chose these products because I think they are both reasonably diverse, and in their time, both these products have experienced a range of sections within the product life cycle.
For example, due to Nike’s football boots having to be constantly refreshed and renewed due to high competition, they have experienced, each sector, a number of times. In contrast, the Sony and their PS3 have also experienced similar experiences. For example, due to this specific console being one of the most successful and exclusive gaming consoles of all time, the overall competition has been reasonably low, and due to this, this certain product has seen the product life cycle at a very different perspective by experiencing each sector at a much slower rate.
Product
The diagram presented above dictates the process in which businesses go through, when marketing. Every business will follow this strategy when they advertise and market a product in order to gain the most sales, and to generate a substantial amount of profit.
For example, the first stage of this Product Life Cycle is the Development. This stage entitles a business to conjure up a selected idea, in which they will later hope to produce as a product and then sell. The development stage is where the business will discover the blue prints of their product and how they will later market it.
In other words, the development stage provides a foundation for the selected product as it will be built as a prototype to be later sold to the public in order to increase sales and profits.
This certain stage is very secretive within any organisation. Other businesses do not want to let their competitors have knowledge of what they’re producing, in case they steal and release