Welcome to this deck on making marketing decisions. We'll explore the essential tools a business uses to attract and retain customers. The core of this is the marketing mix, which helps a business decide what to sell, how much to charge, how to promote it, and where to make it available. Mastering these concepts is crucial for your GCSE Business exam.

Let's start with the first P: Product. A product isn't just a physical item; it can be a good, like a pair of trainers, or a service, like a haircut. The key is that it satisfies a customer's need or want. For your exam, you need to understand how businesses manage their products over time.

Products rarely sell at the same rate forever. Most go through a series of stages known as the product life cycle. This model helps a business to track its sales and profits over time and plan its marketing strategy accordingly.