Marketing Mix in my caf businesses
In this task 3 I will explain the Marketing Mix in my cafi?? businesses, which are the product (what the actual offering comprises), price (the value exchanged for the offering), place (this means of having the product offering available to the target audience. and promotion (means of communicating that offering to the target audience, promotional mix and distribution. In this information I will explain this area because this is very important to my cafi?? to make a very good decision on how to run and manage my new cafi?? business.
All about this are the four P’s of marketing mix of business. The Marketing Mix Explained In order for my business to sell its products and services as successfully as possible, I need to look at what products are selling in detail to ensure they will be attractive and needed; the price to ensure it is not too cheap or too expensive; where are best distributing product for my business; and finally, how I can create interest and awareness for my products. All these elements need to be targeted at the right people at the right time.
In order for my business to tackle this correctly, I need to get the right type of mix (marketing mix), the mix should include four main elements: Product, Price, Place and Promotion, by examining each and carefully and adapting them to my customer’s needs, I will continue to produce and needed products and services. Analyses of marketing mixes are usually conducted using linear regressions which clearly show the efficiency of the product or service to help provide information about the progression. In accordance to the analysis decisions are taken if needed for improvements to increase sales.
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This defines the characteristics of the product or service that meets the needs of the customer. The market I will be selling to is middle class age group and also some older people like my product, I will mainly aiming at people who works at the certain area. Every day and need something because this is where I can make the most money from. To make all of this realistic there is a lot I will have to do. Before allowing people to buy products from my cafi?? I will have to buy some products for my cafi?? , this will include needing to buy kitchen appliances and in my cafi?? area I will need chairs and tables.
I will be searching the Internet for this and will be looking for the best bargain. I will need to fit a complete kitchen because the building, which I am renting out, was previously an office block so I will need to also decorate the place. When deciding on my product I knew it was vital to produce a product that met the criteria needed for a successful to my cafi?? business. I wanted my product that was good impression, good designing and professionals had the correct appeal for its intended audience, which are middle age which are all adult bracket, and will introduce new audiences with its individuality.
From my research I found through the primary research that this group of people love’s little style/decoration on the product I sell. This is why I have decided to produce some decorations to my products. All of this information I found was also supported by my findings from my questionnaire. When asked does the packaging affect choice 40% said yes. In my secondary research I found important information in selling my product, example of this are price charge on the product, the coffee consumption and statistics that help me to prevent failure in my product.
I looked at the existing product and tried to discover why it dropped in sales and stopped being a cash cow? About my product I produced unique selling point which is selling different types of organic food which is sandwich, so this is one of the main reason why I have decided to make a little alterations to the sandwich by not just not having a ordinary and simple sandwich but many different filling which would appeal to the adult people even more. And because of these alterations it will also give consumers more reasons to why they should purchase and come to my business.
The product and services for the business Cafe is hot and cold drinks which are include the coffee, and bread (sandwiches). There is a varied menu for customers to choose from at reasonable prices. Food will be delivered fresh from Hofmann’s Bakery. This supplier was chosen because the prices were inexpensive and the company has a good reputation. Deliveries will be scheduled for every other day because if they delivered every day it might result in too much stock. Problems may arise with competitors as there are many cafes in Town centre in Birmingham and the competition overall is quite high.