Module 1

Product and Service Policy

Page 3

Unit 1.1

The nature of product policy

3

Components of a Product Concept

6

The Nature of Product Supply

9

Unit 1.2

The classification of products and services

16

Classifying Consumer Goods

16

Industrial Products

23

Commercial Services

31

Unit 1.3

The development of new products and services

35

The importance of new products

35

The new product matrix for product development

41

Phase in New Product Development

44

Unit 1.4

The product life cycle

53

Unit 1.5

Product Strategies

62

Unit 1.6

Branding

69

Brand Acceptance

75

Unit 1.7

Packaging and labelling

80

Labelling

86

Bar Coding

88

Summary

94

Glossary

95

Summative Assessment

Page 98

Module 2

Place (Distribution Policy)

Page 103

Unit 2.1

The Importance of Distribution Decisions

105

Unit 2.2

The importance of intermediaries in marketing

106

Justifying the use of intermediaries

108

Creating Consumer Satisfaction

110

Types of Intermediaries and Sales Agents

111

Unit 2.3

Distribution channel

113

Unit 2.4

Behavior patterns in the distribution channel

116

Conflict in the Channel

117

Unit 2.5

Distribution planning

125

Factors Determining the Channel Length

126

Intensity of Distribution

129

Choice of Intermediaries and Composition

134

Unit 2.6

The role of the wholesaler

137

Types of wholesalers

139

Unit 2.7

The role of the retailer

145

Types of Retailers

150

Retail Management

156

Unit 2.8

Physical distribution

161

Technological advances in physical distribution

165

Summay

171

Glossary

173

Summative Assessment

175

Module 3

Price Policy

Page 180

Unit 3.1

The nature and importance of price

181

Price Process

183

Unit 3.2

The development of a price strategy

185

Analysis of internal and external environment

185

Unit 3.3

Price Objectives

192

Profit Orientated Objectives

193

Sales Volume Orientated Objectives

193

Status Quo Oriented Objectives

194

Loyalty and rewards programs

195

Unit 3.4

Determination of basic price

201

Methods used to determine Target Price

201

Methods used to determine Market Price

204

Unit 3.5

Adjustments to the basic price

207

One price versus variable price

208

Discounts and allowances

209

Price differentials based on geographical location

213

Pricing based on product life cycle

216

Special price strategies

218

Price determination in a changing economy

220

Unit 3.6

Price control

225

Summary

230

Glossary

231

Summative Assessment

233

Module 4

Promotion Policy

Page 237

Unit 4.1

The nature and importance of a promotion strategy

239

Unit 4.2

The communication process in marketing

243

Marketing and Communication

246

Unit 4.3

Promotional Objectives

238

Unit 4.4

The Promotional Mix

243

Factors influencing the Promotional Mix

245

Unit 4.5

Advertising and advertising management

250

Advertising Media

250

Allocation of Funds for Advertising

261

Advertising Campaign

264

Summary

269

Glossary

272

Summative Assessment

274

Module 5

Marketing Plan & Create Own Online Presence

Page 279