This is a solution of Unit 3 Marketing Assignment Help that describes about Developing business
Task 3 Extended Marketing Mix
3.1 Explain how the products are developed to sustain the competitive advantage for “Appy foods and drinks”.
To sustain the competitive advantages, it is very important for the organisation to improve the quality of the product. Following is the process that would help “Appy foods and drinks” in improving the quality of the product and gaining competitive advantages:
Idea generation: the different ideas on introducing the product are developed. The company may get the new ideas with the help of meetings, brainstorming sessions etc.
Idea screening: the most suitable idea is selected for example “Appy foods and drinks” has choose the idea to offer the healthy foods and drinks to the customers.
Concept development and testing: the concept development includes how the product could be developed in the company so that it can gain the success into the market (Steenhuis, Waterlander & Mul, 2011). While in testing, the various types of questioning is done in front of true customers of the company so that they can recommend how the quality could be improved to more level. Read more : University of Surrey Assignment Help
Business analysis: the success of any idea for the business means it has gain profit in terms of money from the market. Thus, “Appy foods and drinks” must go for the business analysis and should calculate cost, profit etc.
Product development: if the product is profitable for “Appy foods and drinks” then it must go for development of product.
Test marketing: experts scrutinises the product in all aspects in different circumstances.
Commercialisation: the decisions on the marketing and campaign are taken.
Launch: the end product is released among the true customers of product.
3.2 Explain how distribution will be arranged to provide customers’ convenience for “Appy foods and drinks”.
The distribution strategy enables the organisation and behavior to make the product available to the end customers. As “Appy foods and drinks” is going to launch healthy foods and drinks so the organisation must sure about the places where most of its customers are present. “Appy foods and drinks” is targeting the children, old people and millennial then the places like malls, parks, departmental stores, restaurants and canteen or cafeteria would be best places to place the product. “Appy foods and drinks” may also use the intensive distribution strategy (Tu, Wang & Chang, 2012). According to this strategy, the customers will buy the product if it is highly available in the market. So “Appy foods and drinks” needs to make the product highly available in the markets such as in mall, local market, departmental stores etc.
3.3 Explain how you would set the price for new product to reflect on “Appy foods and drinks” objectives and market conditions.
As mentioned in the case, the mission of “Appy foods and drinks” is “To become No1 healthier choice for families and its objective is to keep the families healthy and happy. The pricing for business strategy is used to set the price of the products after analysing the factors like cost of raw material, labour cost, taxation policies etc. “Appy foods and drinks” may choose the penetration pricing strategy at the initial level only to make the customers comfortable about the product offered by the company and also to gain the competitive advantage over the competitors (Becerra, Santaló & Silva, 2013). “Appy foods and drinks” can go for premium pricing strategy later to gain the market share and organisational growth. Premium pricing strategy is a strategy in which the prices of the product are set at higher level as it put a positive impression into the minds of the customers as high price is a symbol of high quality product.
3.4 Illustrate how the promotional activity is integrated to achieve marketing objectives of new product.
Promotional activity is very important for the organisation as it communicate the right messages to the right targeted customers of the organisation. Main aim of the promotional activity is to make the customer aware of the information about the product going to launch soon. Following are the ways through which “Appy foods and drinks” can meet its marketing objectives:
Advertising: Advertising of the product offered by “Appy foods and drinks” is very important as it can communicate the message of company to the right customer through TV, radio and newspaper. The millennial generation could get the information about product from TV and newspaper and old people can get the information from advertisements in newspaper (Turnbull & Valla, 2013).
Public relation: public relation is used to maintain good relationship with the customers. To increase the chances of success for “Appy foods and drinks”, the company need to maintain customer handling department separately so that the quarries could be answered and problems can get the solutions.
3.5 Analysis the additional elements of the extended marketing mix for new product from “Appy foods and drinks”.
The extended marketing mixes are listed below:
People: People elements of the marketing mix represent the employees of the organisation. The employees of “Appy foods and drinks” should be well dressed and it is the responsibility of the organisation to provide them training program on the personality developments and communications skills especially for the sales people.
Process: Process element includes the manufacturing or production units of the organisation. For “Appy foods and drinks”, the delivery of raw material, end product, the production of end product all comes under process elements (Williams & Chinn, 2010). For the success of the “Appy foods and drinks”, smoothly executions of these processes are very important.
Physical evidence: For the customer, the physical evidence is the logo, design and atmosphere of company. If handled properly, the physical evidence is also works as an end product.
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