Preview

Applying the Elements of a Contract in Business Situations

Powerful Essays
Open Document
Open Document
2022 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Applying the Elements of a Contract in Business Situations
Unit 4: Marketing Principles
Section 4: Understand and use the marketing mix in different contexts * Plan marketing mixes for two different segments in the consumer markets
To enable an explanation of the use of marketing mixes for two segments in the consumer market, it is intended to use a food product which is entering a competitive UK market. In this case, it is intended to concentrate on two diverse products: 1. Low salt and fat cheddar (blocks) 2. Handy sealed multi packs each containing 5 long thin strips of cheddar
The benefits and drawbacks attached to cheese consumption must be known to enable the marketers to develop a strategy:
1. Nutrition
2. Cavity Prevention
3. Cancer Prevention
4. Weight maintenance
5. Bone Strength - children, elderly and pregnant
6. Osteoporosis treatment and prevention
7. High Blood pressure (Doctorsolve online Accessed 14 July 2012)
Segmentation
* Low salt and fat cheddar
Using the health benefits it is likely that this product should be principally segmented in terms of demographics.
Age - the “grey pound” could prove lucrative as the benefits in terms of nutrition, cancer prevention, bone strength and osteoporosis treatment will be likely to win the mind of this subsection. Gender – the more mature woman is likely to be the main shopper in the family and is also likely to be extremely conscious of her health and that of her husband or partner. This age group is also likely to remain fairly consistent and display brand loyalty.
The age could also expand to the 30 something young professionals who work out and try to live a clean and healthy lifestyle as the product may provide what they see as a healthy option.
Within this segment it may be useful to consider the psychographic make up. The lifestyle and attitude to health of the “grey pound” sector may be useful when it comes to pricing and promotion of the low salt and fat cheddar. * Handy sealed multi packs each

You May Also Find These Documents Helpful

  • Best Essays

    Swot Analysis Of Marmite

    • 2273 Words
    • 10 Pages

    The purpose of this report is to evaluate Marmite, using appropriate behavioural theories to analyse how the brand attracts and retains its customers through decision-making processes, motivation, values and attitudes. Applying a marketing mix analysis of the product with alternative marking models and strategies.…

    • 2273 Words
    • 10 Pages
    Best Essays
  • Better Essays

    Marketing on Vegemite

    • 2059 Words
    • 9 Pages

    This essay will explain the target market and the 4P’s analysis for one of the Kraft product, Vegemite. Kraft Inc Company, which is the owner of Vegemite product in Australia, is the largest food and beverage company in The United States. Kraft has been a major player in the food and beverage industry for a long time ago. Kraft has broad range products of food and beverage that are available around the world. One of the Kraft products that are marketed in Australia is Vegemite. Vegemite is considered as much a part of Australia's heritage as kangaroos and the Holden cars. It is actually an Australian obsession that has become a unique and loved symbol of the Australian nation (Vegemite Australia, 2010). It is made from leftover brewers' yeast extract and various vegetable and spice additives (Vegemite Australia, 2010). Vegemite has been available in the Australia’s market since a long time ago; vegemite is defined by the Australian people as a jam that is healthy and rich of nutrition. Kraft has been the owner of the vegemite product since 1935.…

    • 2059 Words
    • 9 Pages
    Better Essays
  • Satisfactory Essays

    Whether you are young or old, skin care is an important part of caring for your body. It’s no wonder that skin care companies spend much time coming up with formulations designed to reach diverse markets. There are specific products for various age groups, skin types, life styles and budgets. To effectively market a skin care line, marketers must cover some key areas. Our primarily focus on this analysis would be on skin care products for women in their 50’s.…

    • 527 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    case study Starbucks

    • 3534 Words
    • 15 Pages

    Borden, N, H. (1984) ‘The Concept of the Marketing Mix’, Journal of Advertising Research, 2, pp.7-12.…

    • 3534 Words
    • 15 Pages
    Powerful Essays
  • Powerful Essays

    In this section, I will give a detailed explanation of the marketing mix and why it is used in businesses. I will be giving a detailed analysis’ of the Product, Pricing, Place and Promotions. This section is based on about how I found my target market and then fulfilling their wants and needs.…

    • 3688 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    Marketing and Vegemite

    • 699 Words
    • 3 Pages

    In the report, I will talk about The Marketing Mix. This includes the Product itself, Vegemite, the Price, Promotion, and Place.…

    • 699 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    The market values heathy eating, with 47% of the demographic having altered their eating habits in the past year, individuals…

    • 161 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    The Menstrual Cycle

    • 561 Words
    • 2 Pages

    4n) Osteoporosis can be prevented by eating balanced meals including supplements of calcium, vitamin D etc. in proper quantities. In terms of lifestyle, being…

    • 561 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    The marketing mix is a strategy tool used to formulate a plan for product development and promotions in a business. Examining the mix for the company Bottle Green may help Simon Speers, Company Owner, see the strengths and weaknesses of the business whilst considering its growth potential. The four core elements of marketing mix are product, place, price and promotion.…

    • 1141 Words
    • 5 Pages
    Powerful Essays
  • Best Essays

    A second important demographic to consider when marketing is age. Age is important in the alcoholic beverage industry because of the legal drinking age requirements. One particular approach marketer’s use is generational marketing; this targets certain age groups as well as different generations. This is important for companies to consider especially since the start of the recession in…

    • 3131 Words
    • 13 Pages
    Best Essays
  • Powerful Essays

    Hotel and Marketing Mix

    • 4636 Words
    • 19 Pages

    Travelodge is budget hotel brand that was launch on the UK in 1985 and currently operates more than 450 hotels in Ireland, Spain and the UK. The company is growing very fast and is planning to operate more than 70,000 rooms, approximately over 1000 hotels by 2020 and be the biggest hotels operator in London by the 2012 Olympics.…

    • 4636 Words
    • 19 Pages
    Powerful Essays
  • Better Essays

    Marketing Mix Paper

    • 1349 Words
    • 6 Pages

    "To find the best marketing strategy and mix, the company engages in marketing analysis, planning, implementation and control." (Armstrong and Kotler 53) A typical marketing mix includes "some product, offered at a price, with some promotion to tell potential customers about the product, and a way to reach the customer 's place." (Perrault and McCarthy 36) Breaking down the marketing mix into these four basic elements – product, price, promotion, and place – helps simplify the selection of marketing mixes that will target the customers. "Components of each marketing mix element are combined to provide a cohesive marketing program." (Kerin et al. 45)…

    • 1349 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    To answer this question, you have to think of the type of product being promoted. For example, soap powder is usually aimed at adults. Look to see if there are any visual clues. A visual clue is anything that helps you to understand what the designer's intentions were. It may be a picture, a style of writing or a particular choice of colours.…

    • 1175 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    The target market should be identified; first of all, the segmentation of the market needs to be done in order to analyze which segment of the market would be more attracted by this product. Besides surveyed people, physicians play a very important role.…

    • 386 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    During the first week of this course, I was asked to identify a few advertised products as well as who the target audience was for that product. This week, I will be choosing one of the products that was initially targeted for audiences in their mid-thirties. The product is well known throughout the health care world and is known as vitamins and supplements. Considering the vast amount of vitamins and supplements that are on pharmacy shelves today, the one that I am going to address is ‘Bone and Joint Strengtheners.’…

    • 898 Words
    • 3 Pages
    Good Essays

Related Topics