P- Price
= Is the cost of the item plus the cost the item accumulates in regards to; manufacturing, delivery, packaging, administer, or manage.=the profit element involved is the mark up the item has.
=price can also include loss leaders for example car sales. Where a price loss is acceptable as the money is made up in other areas. Such as with a car dealership offering services, repairs, accessories etc.
P- Product
=core explanation is what the product does.=the secondary explanation is why the consumer buys it.
P- Promotion
=is how the product is received by the consumer, what makes them want to buy it,=this could be adverts or packaging or persuasion.
P=Place
=is where the item is available=the platform it is available from e.g. shop or internet or catalogue.
=also can include the place of consumption; like home, office, school.
Other factors in the creating of designs revolve around global situations.
Designs have to relate to current affairs, or not contrast with striking world issues. For this reason it is essential that an individual has to be up to date with national and global news as well as their economies.
Designs should reflect more importantly what the economy needs and therefore what the business needs. Affects on the economy include; technology, social change, politics, war/turmoil and natural disasters. Whether theses have a MACRO effect or MICRO effect depend on whether they affect the firm only, or escalate upwards to the market, the national economy or then the global economy.
(NATIONAL ECONOMY= geographic entity-country, =private sector- firms etc, =public sector- schools and nhs, =government/laws.)
(GLOBAL ECONOMY =world trade, =economic blocks.)
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