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
The packaging must be easily opened and the branding must be colourful. A catchy name such as Slim Jim’s will denote its ultimate target consumer, the child under 11 years. The benefits should appear on the packaging to give that subliminal message to the parents. The product should be differentiated by placing in the minds of the consumer that in getting 5 sticks of health benefiting cheese, they are getting best value for money.
Place Care must be taken over inventory, warehousing and transportation to ensure that the right quantity of the right product arrives in the right place at the right time.
Price A price making as opposed to taking tactic. Having an aggressive promotional strategy in place, leaning on quality, quantity, convenience and the health benefits will enable the company to price it closer to the top of the market.