Marketing mix in a business

Paraded Sahara Part 1 (a) The marketing mix is a strategy tool used to formulate a plan for product development and promotions in a business. Examining the mix for the company Bottle Green may help Simon Speers, Company Owner, see the strengths and weaknesses of the business whilst considering its growth potential. The four core elements of marketing mix are product, place, price and promotion.Products: A range of cordial drinks, mostly elderflower but has a growing range including flavors such as, ginger and lemongrass, Cox's apple and Victoria plum. The product is tangible and has a core benefit of quenching thirst. The quality, brand name and packaging may also be a benefit to a consumer who considers their image and how others perceive them. The product life cycle as many others will go through the five phases; development, introduction, growth, maturity and decline. This is why it is important for the company to have new products lined up in order to boost sales.Place: Bottle Gr een distributes to and sells products in supermarkets, Waitress being he single biggest customer, also to tea rooms and small outlets. The company also exports to Sweden and Canada at present. Bottle Greens distribution is out-sourced, this may be a benefit as having another company deal with the logistical area of the business could save time and enable that time to be focused on a more valuable area, such as promotions. Price: Bottle Green Cordial drink is priced Just under E, I assume this is a cost based price.Simon Speers describes the bottle as ‘chic' and hopes for it to be on the dinner tables of the nations middle class. With this premium rand image and quality product it has a competitive price when comparing it to other rival brands. For example, the sparkling soft drink produced by company Seller is currently priced at E. 25 for a mall bottle and Bottle Greens price for a similar product is E. 39 for a mall bottle. Promotion: Bottle Green has a good brand image and has built up brand awareness amongst customers.Not only does the business have a great social media profile, it also sends out samples and recipes to TV chefs who are key influencer in the public eye. Jamie Oliver and Delia Smith being two TV hefts who have given positive feedback and influenced sales to rise. Another area I would like to focus on is purchasing. The bulk of Bottle Greens elderflower comes from the company farm in Clotheshorse and the rest is imported from Hungary. Sugar forms the basis of the cordial drink and this is a problem for Speers.Currently purchasing sugar at Euro-sugar price which is higher than world-sugar price by approximately 2% per tone. At present the business is purchasing at a fixed price but any movement in the wrong direction on the foreign exchange markets will mean further expense for Bottle Green. Part 1 (b) Expert Jeanine Woodcock, managing partner at Bottle Green has some suggestions which mainly focus on promotions of the business. Engaging with customers through the social media profile where customers can discuss stories in reference to the products was one suggestion.This will encourage existing and new customers to advertise the business via word of mouth and the internet. By doing this alongside another of Woodcocks suggestions, researching current customer interests and behavioral patterns, Bottle Green will have a deeper understanding of its statistics and core demographic. This will enable the business to see its strengths and weaknesses in promotions and take action where necessary. The expert also suggests sponsoring a typically British unique and authentic event. This could potentially engage more customers and raise brand awareness which should in turn increase sales.Another expert Joe Whiteouts, deputy director at Bottle Green makes suggestions that focus on product, place and promotion. One suggestion was elderflower capsules that could be added to water and be sold where water based drinks are prepared, for example, offices that use water dispensers. This product development will enable the business to target a new market with a unique new product. Another suggestion was to target the vending machine market, this would put the product in a new place where it would compete with the competition of other soft drink retailers.The final suggestion was to supply schools with recipes in May and June when elderflower is in blossom. The idea that this campaign could be competition based would give potential customers an incentive to engage with the product. It was also suggested that the idea could be pitched as a new healthier alternative to the normal range, this would allow the business to branch out into yet another area of the market. These suggestions could possibly raise brand awareness and bring new customers which would in turn bring more revenue.The business would also have new products in the market beginning a new life cycle. Part 1 (c) The weaknesses I can see in Bottle Greens marketing mix are a lack of product range, the high purchase cost of sugar and the lack of promotion. Firstly I would take the advice of the expert Joe Whiteouts and introduce a new product and a healthier alternative range. This would bring interest from new areas in the market and potentially increase sales. Secondly I would work on the current promotional schemes, I would take the advice of both experts when it comes to promoting the business.Using the social media profile is possibly the quickest, most efficient way to advertise and promote the company in a finance friendly manner. Thirdly sponsoring events and school campaigns are also good ideas, not only British events and British schools but also International events and schools to encourage the potential growth overseas. Fourthly I would branch out and advertise on TV, this is a age opportunity to reach out to millions of potential customers. Finally I would do extensive research on sugar suppliers and try to find a cheape r alternative, this could save the company money and also increase gross profit.I would achieve these goals by working with specific areas in the business such as, the product development team, purchasing team, marketing and promotions team and also the two experts to create new products with a marketing strategy to launch the business into its next level. If all the suggestions were carried out and successful I believe that with rotgut development, increased brand awareness and promotional advertising the business would be in a better financial position and potential growth not only in the I-J but also overseas would look encouraging.