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The eight dimensional wellness model is one way to start conceiving of ourselves holistically. Spiritual:Finding purpose, value and meaning in your life with or without organized religion. Empathy for, and understanding of the target audience is developed through thorough analysis of the market chosen. The “marketing mix” involves 4 variables or 4 P’s which are product, place, price and promotion. Place:  implications of internet selling for a company in relation to its supply chain and distribution network. Price: cost-plus, demand pricing, competitor-based pricing, product line pricing, psychological pricing. Product Standardisation “The process of setting generally uniform characteristics for a particular good or service. Many companies choose to sell directly to the consumer through the internet, while also selling through suppliers and stores.
Students need to consider the implications of internet selling for a company in relation to its supply chain and distribution network.

An extremely important aspect of marketing a product is setting the correct price that will attract consumers to make a purchase while generating profit. Students are expected to analyse examples of product pricing that match each of the strategies listed above. When developing marketing campaigns, companies take account of different cultures and sectors in the target market.
Please note: Any IB syllabus statements included on DesTechWiki are NOT under any free license and remain property of the International Baccalaureate Organization (IBO).
Exploring unfamiliar aspects of innovation improves their understanding of the market needs of the products they are designing. A company will through market research using these variables  so the designer has  an accurate brief of the requirements of the market. For example in Europe that need to set a Health and Saety standard for a product as not to harm the user.
Industry-wide standards: For a period architects and engineers would ask steel companies for all sorts of sectional beams for buildings. There are advantages and disadvantages to both approaches, and also to using this hybrid model.

Without getting the balance right, a company can quickly find that they are losing money through lack of sales or through lack of profit generation. Depending on the nature of a product, its position within the product life cycle among other reasons, the forms of promotion can be different. Does this suggest that some people may see scientific knowledge as being more reliable than knowledge in other areas of knowledge?
Correct analysis of these factors could determine the success or failure of a product, despite its quality. So the steel industry in agreement with the architects and engineers developed a limited range of sectional beams.

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