Recommend the most appropriate marketing mix for a new snack product.

University Degree Business and Administrative studies

Recommend the most appropriate marketing mix for a

new snack product.

In this coursework I aim to present a perfect ‘marketing mix’ for a snack product. The marketing mix is a strategy that a business would use in order to market their product. In order for a business to sell it’s products and services as successfully as possible, they need to look at what products they will be selling in detail to ensure they will be attractive and needed; the price, to ensure it is not too cheap or too expensive; where they are best distributing their product; and finally, how they can create interests and awareness for their products. All these elements need to be targeted at the right people at the right time.

The mix consists of the ‘four p’s’ I have previously mentioned:

Product Price Place Promotion

By examining each and carefully adapting them to my product I aim to present a successful marketing mix for my snack product. A marketing mix will tell a business what their target market is, what the product needs to be a success and how much they could sell it for. Without a marketing mix a product would be useless.

In my coursework, I have chose to market a chocolate bar instead of any other snack product because the UK confectionery market is worth £5.5 billion a year.

The Thornton’s marketing report says that, ‘The total UK confectionery market is worth £5.5 billion a year – the equivalent of every person in Britain spending £1.81 on confectionery every week. Annual chocolate sales represent around two thirds of this total, amounting to almost £3.8 billion a year’

The total UK confectionery market is represented by the following categories (value)

Countlines (e.g. Mars Bars) 45%

Boxed Chocolates 23%

Moulded Bars (e.g. Dairy Milk 13%

Eggs (including shell eggs) 16%

Twist wrapped Assortments (e.g. Celebrations) 7%

Bagged Self Lines 9%

Crème/Mini Eggs 3%

All this information tells me that nearly half of the huge confectionery market, are chocolate bars like Mars Bars alone. The UK market for these chocolate bars is £2.475 billion a year.

Before collecting my field research, I am going to collect some desk research. Desk research is getting market research from other companies or from public libraries.

Desk research can sometimes be less reliable as there are a few factors that make it weak, these are…