1.3 Marketing Mix And Strategy Summary Study Guide Rated A+

What do other factors affecting the choice of pricing strategy include? {Ans: Other factors affecting the choice of pricing strategy include costs and the stage in the product life cycle}What can design be a key tool in? {Ans: Design can be a key tool in positioning a product within the market}What is branding a key form of? {Ans: Branding is a key form of product differentiation}What can intermediaries help to do? {Ans: Intermediaries can help spread products to a wider range of consumers but add to the final selling price of the product}What may brands be created for? {Ans: Brands may be created for an individual product, for a range of products, or for a whole business}What does design involve? {Ans: Design involves balancing aesthetics, function and economy of manufacture}What do different forms of promotion tend to have? {Ans: Different forms of promotion tend to have either a long-term or a short-term impact}What do firms use to analyse their product portfolio? {Ans: Firms use the Boston Matrix to anaylse their product portfolio}What do the main factors determining the right pricing strategy all relate to? {Ans: The main factors determining the right