BUSS 2 - Jan 2010; To what extent has The Authentic Food Company Ltd's products been the most important element of its marketing mix? (14 marks) - Advantages and disadvantages table in A Level and IB Business Studies

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Created on: 16-01-13 20:06


	The marketing mix is the combination of four major tools of marketing (price, product, promotion and place) by a business to influence customer behaviour.
	Advantages The company has used quality as a USP to help it to enter and grow within the frozen foods market The company's reputation means that it has taken the quality of its products into account when making decisions on the mix The company designs products for its customers based on discussions with individual customers to ensure that it meets their needs as fully as possible Supplying high quality products has meant that the company has incurred additional costs, (e.g. from training) meaning that it has to reflect these in pricing decisions	Disadvantages The aim of Lak and Kamal to expand the business will make prices an important element of the mix Recently, the company's falling profit margin may have influenced decisions on the marketing mix The company is expanding into new markets and this means that place will have become a more important element of mix The company has expanded through entering new markets - promotion will have played a vital role in this growth The company has earned a reputation for quality - this will have required promotion at a B2B level The company will respond to decisions of its rivals its rivals in marketing mix decisions - especially if it wants to retain market leadership
	Evaluation Ultimately, in this case, product is the most important element of the marketing mix, as the quality of the food is essentially what the customers are paying for, however it is important for the company to have an integrated marketing mix.

The marketing mix is the combination of four major tools of marketing (price, product, promotion and place) by a business to influence customer behaviour.

Advantages

The company has used quality as a USP to help it to enter and grow within the frozen foods market
The company's reputation means that it has taken the quality of its products into account when making decisions on the mix
The company designs products for its customers based on discussions with individual customers to ensure that it meets their needs as fully as possible
Supplying high quality products has meant that the company has incurred additional costs, (e.g. from training) meaning that it has to reflect these in pricing decisions

Disadvantages

The aim of Lak and Kamal to expand the business will make prices an important element of the mix
Recently, the company's falling profit margin may have influenced decisions on the marketing mix
The company is expanding into new markets and this means that place will have become a more important element of mix
The company has expanded through entering new markets - promotion will have played a vital role in this growth
The company has earned a reputation for quality - this will have required promotion at a B2B level
The company will respond to decisions of its rivals its rivals in marketing mix decisions - especially if it wants to retain market leadership

Evaluation

Ultimately, in this case, product is the most important element of the marketing mix, as the quality of the food is essentially what the customers are paying for, however it is important for the company to have an integrated marketing mix.

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BUSS 2 - Jan 2010; To what extent has The Authentic Food Company Ltd's products been the most important element of its marketing mix? (14 marks)

The marketing mix is the combination of four major tools of marketing (price, product, promotion and place) by a business to influence customer behaviour.

Advantages

Disadvantages

Evaluation

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