Product and Place Issues in Marketing - Term Paper Example

Product and Place Products of the business refer to the physical item or service that the business would offer to the consumers. Our business identified the following products for its customer’s fruit salad, veggie mix, and pro-biotic yogurt with mixed berries, smoothies, wraps and stir-fry. Our business wishes to use the following project objectives in order to penetrate the market. The objective of supplying fruit salad in the market is to create rivalry with the preexisting business organization. Since the business would wish to command greater market share, this objective would help it to luring customers. The products of our business are designed to take advantage of the bargaining power of customers. Many buyers feel that they should bargain in the market. Inclusion of wraps in the product menu is an objective of our business that aims at creating bargaining environment for the consumers. Our business intends to provide varied products for the consumers in order to create threat to substitute products in the market. Another product objective of our business is to create an avenue for potential entrant into the market. Products such as wraps would create a great potentiality for the business to enter into the market. Our business has identified the needs of various customers; this would have provided vital information in designing the product objectives. Our business products aim at providing variety of choices to the consumers. Our products will serve consumers who are jogging or walking along the streets. Our business presents five categories of products, which the customers can choose. The products would benefit the customers because our business intends to offer high quality products. For example, a customer who orders for the stir-fry may decide to take rice with veggies or noodles with sauces. On the other hand, a customer may be willing to buy grilled chicken with Sundried tomato, spinach and regular tortilla wraps. Our product menu has healthy products that it intends to roll to the market. The product features aim at meeting varied demands of the market. Another feature for the products is their ability to be carried away by the customers. Some customers prefer take away, our business has developed products to suit these demands. Provision of products that suit the demands of the customers would help in marketing the business. The approach of our business into the market is to create an opportunity that would lead to high market share. Customer needs is a factor that contributes to the product strategy and objectives of the business. Penetrating market strategy aims at utilizing the business products to attract and retain customers. For our business to penetrate the market, it has to come up with a packaging system that would lure customers. Our business intends to adopt a packaging system that would make the products of the business stand out in the market. The package should break the convection in the market. Our business would develop unique shape for its products in order to draw the attention of the customers. Elegant packets lure the attention of many buyers. Products like fruit salad require unique packaging that would lure the interest of the customers. Another packaging factor that the business wishes to address is the feel good factor. The attractiveness of the package indicates an offer of the same quality. The need to offer quality package would make the business penetrate the market. Our business wishes to use the above choices to achieve it positioning objective. Strategic packaging, product objective and services offered by the business aim at winning greater market share. The success of the above factors would lead to the success of our business. Place is another important factor in the marketing mix. Delivering of business products to the customers at the right time has an influence on the success and market share of our business (Lamb, Hair & McDaniel 47). The distribution channel that the business wishes to adopt would offer timely delivery of services and products to the customers in their distinct business locations. Our business wishes to sell its products in Broadway 8th Street, Saskatchewan campus, SIAST campus and along River Parks. It will also penetrate the market during Jazz Festivals, Fringe Festival and U and S campuses during the summer time. Our business will sell its products to direct consumers of the products. Delivering the products in these locations will require a small van, which would help in logistics. Each van will offer outdoor catering service i.e. offering services to customers who are not within some building. Other people that the business will include in its supply chain are mobile chefs who will sell the products of our business in the busy streets of Spadina Crescentand Broadway. These approach aims at providing services to customers who may not have time to walk into our main cafe. Our business must address supply chain issues such as cost issues and customer demands. Preparedness is a means that helps in averting anticipated problem. Our business wishes to involve the street vendors as a strategy that would help it to meet the overwhelming demand of customers. Cost of the products has an influence on demand for the products. Introduction of discounts to buyers would lead to high sales of the business products. Our business will have to incur the cost of labor within its supply chain. Cost incurred in the supply chain would influence the cost of business products. Our business wishes to use a demand driven supply chain in order to make high sales. The approach by our business to monitor its brands will help it to identify areas, which require improvements. Identification and improvement of critical areas in the chain supply are influential to the business progress. Competition is another factor that our business aims to address. Businesses that offer similar products in the market have command some market share that the business intends to penetrate. Our business does not wish to include other retailers in supplying its products into the market; instead, it will use mobile retail shops to supply the products in the market. Business competitors produce and offer similar services into the market. Engaging the competitors to sell the products of the business would be futile. Mobile retail shops seem to be the right choice our business since it lead to marketing and supplying our products. Evaluation of the needs of the customers by our business would ensure that customers of our business receive the services and products that they want. Our business intends to collect the opinion of the customers after some period. This would help our business to adapt to the demands of the customers. Viability of our business depends on its ability to change with customer demands. Our business intends to prioritize the needs of its customers as a means that would help it to meet their demands. Generally, the distribution decision of our business would help the business to meet its objective because it aims at using the most effective method in meeting the demands of the customers. Elimination of extra cost that results from complicated supply chain would lead our business towards achieving its place objective. Work cited Lamb, W. Charles, Hair, F. Joseph, and McDaniel, Carl. Essentials of Marketing. Mason OH: Cengage Learning. 2011. 40-50. Print. Read More