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BTEC Business level 3 Unit 3 - introduction to marketing P6 M3(D*achieved)
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BTEC Business level 3 Unit 3 - Introduction to marketing P6 M3 (D*achieved)
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Unit 3P6: Develop a coherent marketing mix for a new product or service (Tuck
shop)
M3: Develop a coherent marketing mix that is targeted at a defined group of
potential customers
In this task I will be explaining how I will be using the marketing mix (4Ps) to perfect
my Tuck shop in the sense how I try to use the perfect combination of the 4Ps to fit
the needs of my target audience and consumers.
The Marketing Mix also known
as the 4Ps, is the 4 factors in a
business that are used to create
a successful product, service or
business. The Ps stand for
promotion, product, place and
price. Product is essentially what
my product exactly is this may
mean a singular product but, in
this scenario, it means my whole
product line being “international
sweet based snacks” and what its qualities are. Promotion is how my business is
advertised and its public perception. Price is how my products are priced and why
they are priced in that way and place is where my business is based, where my
stock comes from and more.
The segment I will be targeting is exclusively the students that attend Haringey sixth
form, no student in particular as my products doesn’t aim at any person directly this
allows me to have a potential reach on all the students in the college as long as I am
careful with the products I sell at my store. To tap into this potential reach I will have
to use the marketing mix to benefit my business in anyway possible and find myself
the perfect combination of methods in the marketing mix to be as popular and
profitable as possible.
First I will be looking at the Promotion on my tuck shop and how to use it as
effectively as possible. To utilise promotion I can use methods such as advertising,
sales promotions, Public relations, sponsorships, social media and celebrity
endorsements. All of these methods give my tuck shop the ability to reach more on
more of my target market and build awareness of my business and reinforce my
business into peoples head. The main methods of promotion I attempt to utilise are
advertising, which I will do using various things such as handing out leaflets about
my business and posters around the college, sales promotions, calculate to be
profitable but bring in more demand for my products, and finally building a social
media presence where I can promote my business further and it can be seen by my
target audience who are regularly using social media.
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