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Using the data from Extract A and your knowledge of the product life cycle, explain one way in which the marketing of music streaming might be different in 2019 compared to 2010. - Edexcel - A-Level Business - Question 1 - 2019 - Paper 1
Question 1
Using the data from Extract A and your knowledge of the product life cycle, explain one way in which the marketing of music streaming might be different in 2019 comp... show full transcript
Worked Solution & Example Answer:Using the data from Extract A and your knowledge of the product life cycle, explain one way in which the marketing of music streaming might be different in 2019 compared to 2010. - Edexcel - A-Level Business - Question 1 - 2019 - Paper 1
Step 1
Knowledge and Understanding: Product Life Cycle
Answer
The product life cycle is a framework that outlines the stages a product goes through from introduction to decline. In this context, 2010 represents the development/growth stage of music streaming, while 2019 marks the growth/maturity stage.
Step 2
Application: Marketing Focus in 2010
Answer
In 2010, marketing efforts would have concentrated on raising awareness of music streaming services, as they were relatively new and not widely adopted. Strategies might include promotions, partnerships with artists, and trials to encourage subscriptions.
Step 3
Application: Marketing Focus in 2019
Answer
By 2019, with music streaming having entered the growth/maturity stage, marketing would likely shift focus towards differentiating the service from competitors. This may involve highlighting unique features, exclusive releases, or personalized user experiences.
Step 4