Answer:
• Product
• Price
• Place
• Advertising
• Product-this must look and taste good and be made from healthy ingredients.
• Price-price must be attractive to ensure enough sales to generate a profit.
• Position-position of product on the market and location is important to compete for market share.
• Advertising-this must fit the company's goals for the product.
2. Explain the different product categories in the Boston matrix. Why is this a useful tool for companies?
Answer:
Boston matrix identifies four types of a company's product
portfolio:
• Stars. These products have a high market share in markets that are growing rapidly. For example, the Playstation one star when it first entered the gaming market.
• The Question Mark. These products have a low market share in a growing market. The cost is greater than the return that the company is trying to increase its market share. An example of a question mark may be a newly launched fashion item or a new car model.
• Cash Cows. These products have high market share in established markets, such as cornflakes in the breakfast cereal market.
• Dogs. These products have low market share in a market with low growth. A company can take to get rid of these products or invest in marketing to improve sales. For example, the DVD recorder replaced the VCR
3. Analyze how McCain Foods ' promotional strategies associated with its message "it's all good".
Answer:
Promotion
A further demonstration of the "it's all good" ethos is McCain Foods ' ethical stance on promotion. McCain makes a commitment not to advertise to children under 12. The
also ensures that retail labelling on their products carries clear information on the levels of fat, saturated fat, salt and sugar to
Shoppers choose healthier options. Its labelling is in line with the Food Standards Agency (FSA) traffic light and. ..
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