• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Studies Coursework (Marketing selection)

Extracts from this document...

Introduction

Marketing Section The element of the marketing mix that I am going to address will be the pricing element. This is because I believe that the price of a chocolate bar is the most important factor to take under consideration whilst trying to sell a chocolate bar. Range of Pricing Strategies The 12 important factors of pricing: Premium Pricing: Use a high price where there is uniqueness about the product or service. This approach is used where a substantial competitive advantage exists. Penetration Pricing: The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased. Economy Pricing: This is a no frills low price. The cost of marketing and manufacture are kept at a minimum. Supermarkets often have economy brands for soups, spaghetti, etc. Price Skimming: Charge a high price because you have a substantial competitive advantage. ...read more.

Middle

Optional 'extras' increase the overall price of the product or service. Captive Product Pricing: Where products have complements, companies will charge a premium price where the consumer is captured. Product Bundle Pricing: Here sellers combine several products in the same package. This also serves to move old stock Promotional Pricing: Pricing to promote a product is a very common application. There are many examples of promotional pricing including approaches such as BOGOF (Buy One Get One Free). Geographical Pricing: Geographical pricing is evident where there are variations in price in different parts of the world. Value Pricing: This approach is used where external factors such as recession or increased competition force companies to provide 'value' products and services to retain sales. Marketing Plan Place - I intend to sell most of my products at small shops because my primary research showed results that people mostly buy their chocolate bars from small shops. ...read more.

Conclusion

So I have cleverly priced my chocolate bar just above the expected price, this also gives out the idea that my chocolate is better quality than other brands, by doing this I can expect more profit. Product - My final product is going to be a caramel and nut chocolate bar which is going to be packed in foil. This is because looking at my survey about chocolate I have found out that most people like caramel in their chocolate whilst others like nuts, so I have mixed the two together and have decided to have a nut and caramel chocolate bar. From my research I also found out that foil and keeps chocolate fresh and looks good as well, also from my survey I have found out most people would prefer to have their chocolate bar packaged in foil. So this is why I have produced a caramel and nut chocolate bar which is packaged in foil. Hubaab Aslam Business Studies Coursework ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Business Studies Coursework

    the latest products consumers are interested in and to set it up with lots of updated products 3 Internet Cafe * It'd give people the opportunity to browse the web easier than having to buy internet themselves and visit a internet caf� and most people like staying for a long period of time.

  2. For this project I have been instructed to come up with a marketing strategy ...

    The majority of the people who answered my questionnaire had an income of �30000-�40000 and this shows that the current market certainly has enough money to purchase a new phone, the youth market had an average of under 10000, but as they have the most disposable income are more likely

  1. Marketing coursework

    people to come in the area * Wealth of the economy - the wealth of the economy is in a recession in recent developments, more people are unemployed, and don't have enough money to come out to eat. * Available workforce - that speak English * Rules and regulations for

  2. creating a marketing proposal

    The analysis in detail and qualitative research far more detail For our focus groups question, first we have asked about advertising and the majority of the respondent said they were really influenced by advertising because of the price, quality, healthy ingredients and offers.

  1. Business Studies Assignment Marketing

    Prices charged by the bowling alley To find out what prices they charge to see if it's the prices that attracted or make customers repel from XS Superbowl. Look at the prices on their price list and compare them with other bowling alleys.

  2. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    It is a middle ground between market and product orientation. Product orientation can be successful in uncompetitive markets (i.e. monopolies), but market orientation is much more common as it focuses on the customer. Market orientation is becoming more important for business due to increased competition, shorter product life cycles, more

  1. Elite Chocolate

    Desk research also involves Secondary Data. Secondary data is used in desk research as secondary data is already available both within and outside the business. A company that want to use desk research can use a number of sources. They can use their own sales statistics; this includes sales trends, consumer suggestions for product changes.

  2. Business Studies Marketing Plan

    However, the service of their internet is slow and also cost-wise expensive. They do not provide any special offers or packages to customers. DirecWay is a new ISP, which provide broadband, high speed internet service. They do not give any dial-up internet service.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work