Develop A Marketing Mix Of Sweet Land Company - 1375 Words

Develop A Marketing Mix Of Sweet Land Company (Essay Sample) Content: THE MARKETING MIX OF SWEET LAND COMPANYNameCourseProfessorUniversityCity, StateDateThe Marketing Mix of Sweet Land CompanyProductThe Sweet land main product is different types of sweets which are traditional Turkish sweets such as Baklava and Bici Bici. The company will offer high-quality hand-made sweets to satisfy the needs of its customers. Despite being a copycat product and not applying technology, the company will use a differentiation strategy to ensure its products are unique. For instance, Sweet land will launch a wide range of Baklava with no added sugar to suit consumers with diabetes as they contain 15 per cent fewer calories than normal Baklava. The high quality and unique sweets made from natural ingredients such as dates, walnuts, almonds, cashews, and pistachios provides a competitive advantage to Sweet land as most customers would want to taste the product.The sweets are tangible goods, and they seek to satisfy our customers needs. Using the Kotlers five product levels, The Chartered Global Management Accountant (2015) notes that a product has five levels which it seeks to satisfy. These levels include the core benefit, generic product, expected product, augmented product and potential product. The core benefit is the fundamental need that customers seek to satisfy when consuming a product. Our unique Baklava core benefit will ensure satisfaction of the customers urge to taste goodness that comes with consuming a sweet. CGMA (2015) highlights that a generic product contains only the attributes that are necessary for its function. Sweet land products have all the qualities required for its consumption as it uses natural ingredients for production.Further, CGMA (2015) argues that the expected product represents all the aspects that a client expects to get when purchasing a product. Our clients will receive unique and quality sweets which will offer value for their money. In his work, Morshett (2010) states that augmented product involves the inclusion of unique features to ensure its unique from its competitors. The company will offer hand-made sweets from natural ingredients which will make its product unique and easy to sell. Potential product refers to all the transformation that a product might undergo in the future.PriceAccording to Collier (2011), Price is the amount of money that a consumer pays for the value received by a product or service. When deciding on whether to purchase a product, most consumers use prices as a determining factor hence prefer cheaper products, especially when assured of the same satisfaction. The company will use premium pricing for the hand-made sweets which will target tourists who are eager to explore and taste various sweet products. Further, the company will use a penetration strategy which entails setting lower prices than the competitors in areas where there is high competition. Additionally, the prices will range from high to low since our products are hand-made fr om natural ingredients such as fruits and nuts.Our pricing will also depend on the geographical region and individuals living in such areas. For an area with a high population of low-income earners, the pricing will be low and affordable to attract more consumers. Brookbank (2014) notes that setting low prices is advantageous for a business as it will capitalize on numbers by attracting more customers hence increase its revenues. However, for areas with high-income earners and tourists, the sweets will be priced at a premium as such individuals concentrate more on quality than prices.PlaceIn his work, Ivy (2008) indicates that place is an essential part of the marketing mix as it entails how the product will be distributed by the manufacturer until it gets to the final consumers. Companies can use direct distribution strategy where it sells its product to the final consumer using its salespersons. However, some entities prefer using indirect distribution through wholesalers and reta ilers.Sweet Land Company will use a direct distribution where our sweets will reach our clients directly from us to promote brand awareness and image. Since the company is a start-up, using many intermediaries may hinder its ability to distinguish itself in a unique way to its customers. Our companys physical location will be different as we will target different markets such as Borough market, Brick Lane and Portobello market. The different operational markets will provide place utility for our customers as they can easily access the products.PromotionPromotion is an essential part of the marketing mix as it deals with the communication means used by the company to create awareness to its clients Wood (2017). Some of the common promotional methods include personal selling, billboards, digital marketing and public relations. Ann (2013) states that the AIDA (Awareness, Interest, Desire and Action) model describes the stages through which a consumer undergoes from the time they learn about a product to purchasing it.AwarenessDuring the initial stage of awareness, Sweet Land Company will aim at creating brand awareness to its target customers to ensure they are aware that its product exists in the market. Our company will use affordable promotional methods due to its limited capital base. The company will use digital marketing to promote its high-quality hand-made sweets. One of the platforms we will use is Instagram to create awareness as it has a potential of reaching to clients both nationally and internationally. Further, our company will have an official Facebook page with contacts which will be used to promote our unique sweets. Personal selling will also be used where we will use a van branded our company logo and products and visit various regions to promote our sweets and offer free samples.InterestSweet land will create interest of its consumers by using attractive visuals to capture the attention of potential customers. Further, our free samples will c reate interest for individuals and make them taste the product as we will be giving away the sweets for free. Additionally, the company will recruit a professional website developer to ensure that all the information that a client may be interested in is available online.Desire and ActionSweet land will create desire for its customers by ensuring that its products accommodate all the members of the society including those with diabetes as some of its Baklava sweets have no added sugar hence fit for consumption. For Action, the company will offer brochures and phone contacts to ensure that the client can reach us for order any time. Rawal (2013) notes that action is an essential practice as it promotes retention of customers which increases its sales.PeopleThe success of any business depends on people for production and delivery of services. Such enterprises rely highly on its human resource as they interact directly with clients providing them with a brand experience (Choquett 2016) . The nature of Sweet Land Company provides direct interaction between a consumer and its salespersons as the company will not use intermediaries during its initial stages. Therefore, the company will take the initiative and train its sales team to ensure they know how to handle clients. Wood (2017) enumerates that employee training to instil the customer management skills is essential as it helps retain customers as they get a great experience when purchasing the product. Further, the company&r...