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What would be the most effective way to market a new healthy eating option for ScreenScene plc?

Extracts from this document...

Introduction

ICAA/CCEA BUSINESS STUDIES B (G37) 2008 Coursework Name: Asfand Ali Gulzar What would be the most effective way to market a new healthy eating option for ScreenScene plc? Introduction (A01) This coursework will be investigating the most effective way to market a new healthy eating option for ScreenScene plc. In this coursework, I have been appointed by the directors of ScreenScene plc, which is a public limited company in the private and tertiary sector dedicated to the world of cinemas. The company owns 240 cinemas across England and Wales, 200 of these being multiplexes. The business is now proving itself to be very successful and is even competing with top cinema corporations like Cineworld and Odeon Cinemas. The business was initially started as a Sole Trader by John Duff, an entrepreneur. Due to its continuing success and expansion, the business later became known as J Duff and Co Limited. Later, it was floated in the stock exchange meaning stockholders could legally own one or more shares in the business. Because of this, it became known as ScreenScene, a public limited company. There are many advantages for big and profitable companies going public. Many companies acquire plc status just for the image or prestige, but for most they want to be legally entitled to offer shares to investors, subject to regulatory approvals. Unlike private limited companies, public limited companies like ScreenScene want to be able to advertise the sale of shares and sell them to stockholders through the stock exchange as stated above. Furthermore, becoming a public limited company can also have a substantial impact on the company's financial support meaning the company is less likely to be in debt. Additionally, a further benefit of managing a Public Limited Company is that you are limiting your personal liabilities. This means a limited company is a legal entity in its own right. You are not personally liable for the company's debts, as long as you have traded legally or you have not given personal guarantees regarding contracts or suppliers etc. ...read more.

Middle

Price Now that ScreenScene have a variety of good products, they will now need to think through how much they will be charging for it. Pricing strategy is an important part of the marketing mix. The price of a product should reflect its image and the need to give a consumer what they want. For example, upmarket products are associated with premium prices. Furthermore, I will also need to consider how much competitors are charging for the same or similar food products. There are a number of popular pricing techniques I can choose from specifically for a product: 1. Penetration pricing. This is when a firm brings out a new product into a new or existing market; it may feel that it needs to make a lot of sales very quickly in order to establish itself and to make it possible to produce larger quantities. It may therefore start off by offering the product at quite a low price. When market penetration has been achieved, prices can be raised. 2. Competition based pricing This is basically setting the price based upon prices of the similar competitor products. Competitive pricing is based on two types of competitive product: * Products have lasting distinctiveness from competitor's product. Here we can assume o The product has low price flexibility. o The product has low cross flexibility. o The demand of the product will rise. * Products have little distinctiveness from competitor's product, assuming that: o The product has high price flexibility. o The product has some cross flexibility. o No expectation that demand of the product will rise. 3. Skimming This is when a business brings out a new product; it may be able to start off by charging quite a high price. Some customers may want to be the first to buy the businesses' product because of the prestige of being seen with it, or because they want to be associated with your product before anyone else. ...read more.

Conclusion

Since I have completed the questionnaire, here is the data once again but only this time every question is collated and analysed: Question 1- Which gender are you? Male - 15 Female- 15 As you can see here, I have used a sample size of 30 with an equal proportion of males and females. This was done with intent to make this questionnaire fair and somewhat accurate. Question 2- Which age category do you fall into? 10-20- 16 21-30- 4 31-40- 4 41-50- 2 51-65- 3 66+- 1 As you can already see, from my sample I have used people with an age range from 10-66+. The reason I used this wide range was because I wanted to expand my range of research so that I can produce accurate results. Yet, just over 50 % of my sample sizes were from the age ranges of 10-20 due to me asking a majority of people in school. ScreenScene plc could therefore target an audience with age group of 10-20. However, it would be a better, more profitable idea for ScreenScene to manufacture a food product that is suitable for all ages. Question 3- How often do you go to the cinema, on average? Every other month - 15 Once a month - 12 Once a week - 2 Once a year - 1 This graph proves that the majority of people I interviewed often go to the cinema every other month. This means ScreenScene plc will be creating a new healthy food product that is going to be in relative demand. Question4- What types of food do you purchase at the cinema? Hot dogs- 3 Nachos- 13 Popcorn- 12 Drinks- 19 Chocolate - 12 Sweats- 10 Ice cream - 10 This pie chart proves that the most common food purchased whilst at the cinema is Sweets with 24%.This pie chart shows that sweets are in high demand. ScreenScene plc should therefore look to create new and healthy sweet products. ?? ?? ?? ?? Asfand Ali Gulzar Unit 5 - Exam Coursework Hatch End High School Business Studies - 1 - ...read more.

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