The Marketing Report: Opening a Fast Food Business

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The Marketing Report




SUBJECT:        Opening a new fast food restaurant


From all the research I have carried out I have been able to find out what people want and what the competition is like. This information links back to my original task, of opening a new business and make it survive. This links in because in order for my business to survive I will have to know what the people want and how I am going to persuade people to but my fast food rather than the competition’s fast food.

Marketing mix is the combination of factors that help the business sell their product. These four factors are the product, the price, the place and the promotion (also known as the 4 P’s).

It is important for my business to get the marketing mix right because if you don’t sell the right product the product won’t sell and therefore you won’t make a profit. If you don’t sell your product at the right price, either you will make it too high or too low. If you made the price too high little or no people will buy the product meaning you won’t make a profit. If you made the price too low then you may sell a lot of the product but you wont make a lot of profit because you are selling at a low price.

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As well as the product and the price being an important factor, the place you decide to sell the product is very important. It is important because if you try to sell your product in an area with a low resident population there would be no one to buy your product and again causing you to make no profit.

The final factor to consider is promotion. The promotion you choose to use for your business is very important. If you don’t use any promotion, then people won’t no about your business and again you won’t make a profit. Choosing the ...

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