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Monkey Snacks final report.

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Introduction

Rhiannon Jones 11SJP Monkey Snacks Final Report Monkey Snacks Final Report Final Report This final report compiles every aspect of the report to give Monkey Snacks an overview of the different chapters and segments and come to a final decision. This is vital as Monkey Snacks has many decisions whish must be made and therefore all the information in this report allows them to do so. This final report should help to end the company's economic decline and begin to increase brand image, sales and most important of all profit. Without a final report this entire report would be a waste and would not benefit Monkey Snacks at all. * Product Where the product is concerned, there are many factors that influence the final appearance, design and contents of the new crisps. This report has been very thorough when researching and looking at how an ideal product can be formed to give Monkey Snacks the best possible chance in having a new improved product, which will hopefully meet their target audiences' requirements and end the slump in sales and profits. Quality Deciding the quality can be very difficult as high and low quality products both have a variety of advantages and disadvantages. At present Monkey Snacks crisps are of a fairly low standard, which may deter customers and give the impression that Monkey Snacks crisps aren't very good, which would decrease profits remarkably. Although if Monkey Snacks were to increase the quality of their product too much, this will alienate their existing target audience and therefore lower sales and profit, which is obviously not a suitable thing to do. In this case Monkey Snacks must find a suitable level in-between high and low quality, which is a medium quality product. ...read more.

Middle

The Monkey Snacks website address can also be included on packets to further advertise other Monkey Snacks products. This will increase general publicity for Monkey Snacks eventually leading to larger profits. Packaging should also obviously be easy to open, easily transported and keep the crisps fresh, all for obvious reasons, which will prevent customer dissatisfaction. However f a customer is dissatisfy a contact number should be included on packaging. * Price When pricing Monkey Snacks crisps great care must be taken to ensure that they're priced so that the target audience will purchase them. If priced too high children will not be able to afford them, and priced too low not enough profit will be made and it will give a low quality impression, both leading to a decrease in profit. Therefore a price that makes a suitable profit which customers are willing to pay must be found. The total cost of making one packet of crisps is 17p, which includes both fixed, and variable costs; therefore a suitable mark up must be made on this amount in order to make a profit. A smaller mark-up of 50% should be added which allows the final price of the crisps to be lower than competitors, which would be 26p, as this will attract more customers, and the target audience better as they have less money to spend on crisps. This smaller mark-up does mean less money will be made on each item sold, however Monkey Snacks will have sell more packets due to the improved brand image and the lower price therefore an adequate profit will still be made. The research conducted also shows that people don't often pay less than the competitors' (15% do) ...read more.

Conclusion

Location Monkey Snacks already sells their crisps at the two most obvious locations therefore other alternatives must be considered. Vending machines and petrol stations are the other immediate candidates with a combined high popularity after supermarkets and corner shops in the questionnaire popularity poles. These locations will improve sales and help attract more custom in general. Other locations such as the Internet were not chosen due to its irregularity nature in selling crisps. Transport Road was an easy and obvious decision as it fulfils all the necessary criteria, and it's cost effective, and many form of transport can use roads such as van and lorries. Air was obviously not chosen as the UK is relatively small and this method of transportation is ridiculous for Monkey Snacks to use. Channel of Distribution This method was chosen as it is fairly simple and Monkey Snacks already use it therefore no change must take place to confuse retails. The existing mark up can also remain the same in order for a suitable profit to be made. The 50% mark-up would also have to get smaller if a wholesaler was added to the chain, which would result in smaller profits for Monkey Snacks. In future with the amount of retailers increasing another channel of distribution could be considered which may include a wholesaler. * Conclusion In conclusion to this report, I feel that it would be difficult to improve upon it, as it has looked at Monkey Snacks and its situation in grave detail. Many possibilities have been considered and the best alternatives discussed in the final report. If I had more time, the prices for the listed advertising methods could be researched, the questionnaire could have been given to more people to make more the results more accurate. ?? (footnote continued) 2 3 ...read more.

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