This research is to find out the marketing strategies of Werm Snacks & Pastry CO. LTD and how well it determines the success of the marketing of snacks and pastry items. Also how the owner of the business go about putting customer’s satisfaction first. The project will give the importance of promotion mix, market research, ethical issues and other means that will impact on the success of the business.
I would like to thank everyone who made the completion of this task possible. Firstly, I would like to thank God for creating me in his image and likeness, and for giving me the physical and mental strength to complete this SBA, also my teacher for helping me in every way possible. I will like to thank the students of St. Jago High School who motivated and helping me in time needed to finish up before the deadline. Special thanks to my parents for providing all the materials that I needed, and for giving me support and encouragement.
Description of the business
My newly open business Werm Snacks & Pastry LTD (W.S.P.L) .The business is a sole proprietorship owned firm which accommodates 16 employees. The business was financed by a medium pool capital whereby majority founding’s were from family loans, business loans and savings. MISSION STATEMENT
The main aims of Werm Snacks & Pastry LTD. Are to provide product for consumers, create employment, to help build the country’s economy and also the most important one to make a profit. W.S.P.L set out goals they want to achieve for the next ten years, some of which are ; to employ more than fifty persons, help the country out of recession and finally to become the leading exporter of snacks and pastries in the country.
Organization of marketing department
The Marketing Manager is responsible for marketing and also the profit and loss of the goods sold by W.S.P.L.
The personnel’s in an organization in this department are responsible for advertising its products or services. The advertising department is also the name given to the section of a publishing house that coordinates the placing of advertisements in its magazines, newspapers, television radios and other publication.
Personnel’s in sales department is in charge of establishing goals and then hiring, training and forming a sales team to meet them. They also are responsible for accumulating and satisfying clients. Another duty they have is to supervise all accounts and issue territories to their team. Market Research
Market research helps the company to devise more effective strategies. Based on the study the firm can adopt marketing campaigns, which directly targets the specific group i.e. the potential consumers. It helps companies to identify the opportunities that are available in the market. The need of a particular product can differ, owing to various factors, thus market research help the firm to identify potential customers in a particular area and age groups. This is done by either of the following: Price
Price is an important aspect of the marketing mix which must be considered. The price of a product depends on the following -: * The demand of the product
* Total production cost
* The characteristics of the product
Pricing is very competitive as there are two other similar newly constructed businesses with whom WSPL has to compete with. WSPL’s prices are base on COST+MARKUP. WSPL has chosen a market leader objective the aim is to increase their share of the market. Competitors
The market is very competitive. There are three newly developed businesses that sell the same products. See pie chart which shows the percentage of the market held by the companies.
These are a threat to the business. This occurs if there is an existence product that...