American Intercontinental University
Unit 1 Individual Project
MKTG 205 – Principles of Marketing
Sunday, May 13, 2012
Marketing managers need a good understanding of threats and opportunities that will affect their product price. By overcoming these threats will have an impact on the product’s success or failure when introducing it to the customer.
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There are three marketing environment forces that have an impact on Snickers candy bars, which are; the competition of the market, pricing of cocoa and other ingredients, and transportation costs. Many issues may come up with the distribution and manufacturing of the chocolate bar, but by paying close attention to these three marketing forces it will be better to understand and overcome any issues. Market Force 1: Competition of the Market (Snickers candy bar) There is a lot of competitive products on the market for Snickers manufacturers, the pricing and placement are very important. Since there are different flavors of chocolate bars on the market already, the placement and pricing of the Snickers needs to attract the potential consumer’s eye (McGraw-Hill/Irwin, 2011).
Market Force 2: Pricing of Resources
To make a product that is priced in a competitive marketing environment depends on the prices of the resources used to make it. The pricing is the most important part of the product and it needs to be appealing to the main target markets. The key to be more successful is the products pricing and quality (McGraw-Hill/Irwin, 2011).
Market Force 3: Transportation Costs
Making sure the product arrives at its destination in good condition and a timely manner is another key to a company success. Transportation costs is a main key that plays a part in the pricing because of the fuel prices rising, so some adjustments will be made to cover this (McGraw-Hill/Irwin, 2011).
Strategies to Overcome the Threats
There are many...