Applying the Elements of a Contract in Business Situations

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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 containing 5 long thin strips of cheddar Again it is intended to initially segment by use of demographics. This product would appear to be well suited as a lunch-box filler and certainly by use of a catchy name such as Slim Jims the ultimate target would be consumption by children of primary school age. Age – The frazzled parent struggling to balance the nurture of her children with the demands of her career and the upkeep of her home is the subsection which is most likely to be delighted by such a product. The cavity prevention and bone growth benefits will serve to salve any possible conscience issues relating to providing the child with a product which is not homemade. Social class (calculated through occupation) will be important to the marketers as the “middle class” are likely to work in professions where they have considerable responsibility and therefore less time. The marketing mix

* Low salt and fat cheddar
Product The importance in getting the product right is an involved process and requires consideration of several factors. As previously stated the product has healthy properties and is a “light” option; it must be of the highest possible quality to break into an already competitive market. The packaging should reflect the properties and quality and will probably suit a slightly translucent recloseable wrapper to signify the lightness with pastel coloured flowing brand print which should differentiate it from all the others and become instantly recognisable. Place The distribution must be well considered to ensure that the product arrives with the retailer on time and in sufficient quantity. The launch, with its promotional push is...
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