Product/Service Price High quality product might suggest Chocolate and fudge higher pricing strategy. confectionaries. Difficult to compete with large Personalised gifts and hampers. chocolate manufacturers on price. Children’s chocolate making parties. Personalised gifts are more Easter egg making and decorating. expensive Speciality chocolate. Sourcing ingredients locally may help USP what is it? – reduce costs Product life cycle what is it like for – may need to The children’s parties each product? be competitive on price Expansion may leave the business more open to currency fluctuations Place Promotion The business has won awards for its The product has been sold in local success and high quality products, country markets. this should be promoted The products are currently being Local using local services, hiring sold in the business existing – local staff a positive point to premises. – promote There is an opportunity to sell in a The product becoming available on large retail outlet. the shelves of a large retail outlet will No online presence mentioned is – allow for and require more promotion this necessary? Would it impact Need for online presence e.g. positively on the business? website and social media Large retailer - what impact might Sales promotions could be used e.g. selling there have on the business gift hampers. and where it sells its products? Selling in a larger retailer means new consumers will see the product on the shelf The business could sponsor some events.
Product/Service Price Chocolate and fudge confectionaries. Personalised gifts and hampers. Children’s chocolate making parties. Easter egg making and decorating. Speciality chocolate. USP – what is it? Product life cycle – what is it like for each product? High quality product might suggest higher pricing strategy. Difficult to compete with large chocolate manufacturers on price. Personalised gifts are more expensive Sourcing ingredients locally may help reduce costs The children’s parties may need to be competitive on price Expansion may leave the business more open to currency fluctuations Place Promotion The product has been sold in local country markets. The products are currently being sold in the business existing premises. There is an opportunity to sell in a large retail outlet. No online presence mentioned – is this necessary? Would it impact positively on the business? Large retailer - what impact might selling there have on the business and where it sells its products? The business has won awards for its success and high quality products, this should be promoted Local – using local services, hiring local staff – a positive point to promote The product becoming available on the shelves of a large retail outlet will allow for and require more promotion Need for online presence e.g. website and social media Sales promotions could be used e.g. gift hampers. Selling in a larger retailer means new consumers will see the product on the shelf The business could sponsor some events.