Business Level 3 Unit 9 P1

y they might want to buy. Place means where you will be selling it and where the product will be bought. For example, customers buy their groceries from their local superstore (Tesco). so they're buying their foods from the superstore, that's where the place would be. But in order to sell your product in big superstores (Tesco etc.) the business needs to sell and distribute the products to wholesalers who will then sell them to retailers. Or the business will sell directly to the retailers.

We would sell our product in the supermarket at the front, or the cereal aisle because it would instantly grab the customers attention when they come into the store. Also it would be wise to put our product in the cereal area because people might shop by

If we are selling our product at £2.50 and any competitor was to sell their product at £1.50 people would be more attracted to the lower price. This means we need to set a suitable price that everyone can afford to generate more sales. Which promotional methods used depends on certain factors, for example which stage in the product life cycle is it in? Advertising is important at the launch

Features & Benefits Features Promotional Mix: Advertising, personal selling, sales promotion, public relations, direct marketing, corporate image. Also, if we were to sell at a lower price there may be more demand. If we were to drop the price it may increase sales volume but it may not increase sales revenue because if we were to sell at double the price and same sell half the amount then it is the as selling really cheap and selling twice as many. The main features of our product is the the size of the product, the pot itself is small, easily disposable after use and the many different range of flavors. Benefits The main benefit of our product, CoCo Pots, is that the pot is small and this means that it can be used on the go, this is also our unique selling point and makes us stand out from our competitors. The price HAS to fit the customer. If we are aiming to sell at the teenage/young adult market we need to think about how much money they actually have to spend on breakfasts. This means that selling at a price too high will not attract them to buy the product so we need to think about how much they would spend at a maximum and sell at a little less than that price. ADVERTISING Costs As a promotional offer we could sell the product at slightly less than what we actually would like for it. We may not be looking for profit doing this, but more product awareness. If we get people interested in the product