Table of Contents
Overview of Pringlespg.3
Definition of Productpg.4
Product Life Cycle pg.5-6 Brandingpg.7
Packaging pg.8-9 Price
Importance of Price pg.10 Pricing Methods pg.10-11 Promotion
Methods of Promotion pg.12-14 Place
Methods of Distribution pg.15-16 Conclusion pg.16
My name is blank. I am currently studying business at Waterford Collage . As part of my Marketing Practice Module I am required to select a product and analyse the Marketing Mix in relation to the product. The product I have selected is Pringles. I chose to do my project on Pringles as they have a very interesting packaging design and they are one of the leading providers of potatoes crisps.
Firstly I will present an overview of Pringles then I will examine the Marketing Mix used by Pringles. There are four elements of the Marketing Mix, these are, Product, Price, Promotion and Place.
In the product section I will define the Product Life Cycle and determine where Pringles are positioned on the Life Cycle. I will then examine Pringles brand name and the packaging that they use. In the section on price, I will discuss the importance of price and suggest what pricing method I think Pringles adopt. For the promotional section of the Marketing Mix I will examine how Pringles promote and create awareness of their product. Lastly for the section on Place I will investigate the distribution channels used by Pringles.
Primary research was not necessary as part of this project, however I did visit Tesco’s to purchase a tube of Pringles to observe the packaging and to determine the price. Secondary research was conducted by searching the internet and by reading books.
Overview of Pringles
Pringles are a brand of potato and rice flavoured chip. In the 1960’s Alexander Liepa invented a potato chip that was made from potato flakes, Alexander Liepa “received a patent (3396036) on August 6, 1968” (Micheal White,2008), this was his original patent, later “He later patented additional improvements to the formula (3998975)” (White,2008).
Leipa took his patent to Procter and Gamble in 1968. The potato chip he invented was originally named ‘Pringles Newfangled Potato Chips’, later the name was shortened to Pringles (www.bighistory.net ). Pringles were first sold in Ohio, there were sold in other states after 1977 (www.whenguide.com). The snack only became popular in the 1980’s after the flavour was tweaked. Pringles steadily became more popular and by the late 1990’s the brand was generating almost $1 billion annually (Martin, 2011).
In 2012 the Cincinnati based company Procter and Gamble sold Pringles to Kellogg's for $2.7 billion (Martin, 2011). Pringles now sell in over 100 countries (www.gardenguide.com). There standard flavours include: Original, Cheeses and Onion, Cheese, Hot and Spicy, BBQ, Prawn Cocktail and the extreme flavours.
Definition of Product
A product is anything that is offered to the market that might satisfy a need or a want. Products usually have a limited lifespan, this will be discussed in greater detail through the Product Life Cycle. There are different four different types of products convenience products, shopping products, speciality products and unsought products.
A convenience product is generally consumed and purchased regularly. Convenience products appeal to large section of the market segment. A convenience product is usually purchased without...