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

Conclusions

Extracts from this document...

Introduction

Having collected all my data and research I have come to several conclusions about my product and how to successfully market it. These conclusions will be vital, as they will enable me to gather a clearer picture of the correct ways to achieve my aims. I will state the details of my product and how I shall market it, examining the marketing mix; the four Ps (Product, Price, Promotion and Place). Basically I will endeavour to use all the results from the research, both primary and secondary to make decisions on the details of my product and how to market it. Product I will integrate the most popular elements of each potato snack design in order to achieve an accomplished, successful finished product. Therefore, the details of my final product are largely based around the results and analysis of my consumer survey. The product name may seem like a basic thing to research, but this is in fact often the most crucial detail, as people often judge a product by its name. If people are going to be talking about the product (as the most successful form of advertising is by word of mouth) then the name needs to be memorable, suitable and appealing to any possible consumers. ...read more.

Middle

When it comes down to it, consumerism is based around money and getting value for money. Price is nearly always considered when a product is purchased and is often the deciding factor. Products are bought or not bought depending largely on price. The main consumers are looking for in price is a reasonable price. For example, consumers are not going to pay �5.00 for a packet of crisps they can buy for 50p at other shops. As crisp snacks are essentially a low-order good, meaning they are available at most food stores. Therefore the objective is to sell large numbers at low prices, rather than low numbers at high prices. Crisps are readily available, a low order good, and this should be reflected in pricing I have chosen the price of 40p, as although the average desired price from the consumer survey for a 50g bag was 44p, I feel that this is an awkward amount of money and rather than rounding to 40p, I will start out with a lower price as this product needs to develop a market, and should do so with a low price originally to attract this market. This pricing is arguably market-led, but I have a long-term goal that I can use penetrative pricing so if a large section of the market is reached then I can raise the price up to 10p to increase profit margins. ...read more.

Conclusion

Place Place is also an integral factor when considering how to market my corn snack. I will need to establish a chain of production, with primary, secondary and tertiary connections all crucial. I will need to secure the premises to manufacture the product, as well as a primary resource that actually grow the corn, for example a farm. This farm will most likely be abroad, as labour is cheaper abroad, so production costs are produced. From statistics comparing British arable farming with Central American arable farming I was able to find out that more corn and better quality corn is often produced abroad, so my product can meet the quality of other products released by competitors. From the secondary sector we will need a factory, where the manufacturing, flavouring and packaging will be taken care of. The product will then be distributed in vans and lorries (which can also be a method of promotion) to the tertiary side of the chain of production. I will mainly distribute to supermarkets and newsagents, as these were the most popular places to buy crisps according to my consumer survey. I will start off selling the product in these locations, before in the future looking for expansion into cinemas, restaurants, ice-cream parlours, pubs or basically anywhere other crisp snacks are available. I will establish a chain of production, from primary to secondary to tertiary stages ?? ?? ?? ?? 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 Business, Companies and Organisation, Activity 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 Business, Companies and Organisation, Activity essays

  1. Business Studies Edexcel Coursework

    and how they can improve them, and of course, who their competitors are. Primary research delivers more specific results than secondary research, which is an especially important consideration when you're launching a new product or service. Consequently, professional primary research can be rather costly.

  2. Tesco Research

    Letters These are handwritten or machine written texts of one or more persons or one or more corporate bodies destined to another person or corporate body. This method of communication is mostly done when something is confidential or needs a reply.

  1. Business Studies

    demand, production methods & governments' rules > Not all developments are advantageous for businesses - some pose threats Internal > Internal sources can also promote the need for change. The affects of accelerating technology: > Cause employees to retrain, redefine their jobs and work in teams > Business must monitor

  2. Business Studies - Researching The Feasibilty

    It is important to have cost data i.e, Break even calculation Profit Price settings This is so you know an estimate of how much money is going to be invested and how much profit is going to be made. If the break even point was very high then I would decide not to invest into this.

  1. Is it a sound business decision to locate a Coffee Republic franchise in Finchley ...

    The majority of which were cars, which is expected as this would be the most convenient mode of transport. This is why we would expect a lot of cars at this time; because we collected this data in the morning, there would have been a high amount of cars going

  2. The four ps

    The Ritz Hotel or Harrods 2. Penetration pricing - offers low price to gain market share - then increases price e.g. France Telecom - to attract new corporate clients 3. Economy pricing - placed at 'no frills', low price e.g. Soups, spaghetti, beans - 'economy' brands 4.

  1. Produce a marketing strategy for a new or existing product or service

    Cola very seriously, and are very likely to release a new drink to compete with Coca Cola, or introduce a better strategy. At the moment, Pepsi do not have an orange flavoured drink in the market, but there are still competitors like tango, who do many fruit flavoured drinks, including orange.

  2. Describe the aims & objectives of the school.

    Shares can be bought by anyone through stock exchange. Manchester airport can have thousands of shareholders. Manchester airport is a limited liability which means if the company goes out of business then you won't lose your personal possessions, only the money you had invested into the business. A1 Describe the location of the school Bruntcliffe School is based in

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