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Evaluate the elements of the marketing mix for Fruit First Ltd - Leaving Cert Business - Question A - 2008
Question A
Evaluate the elements of the marketing mix for Fruit First Ltd. Fruit First Ltd produces a range of ‘smoothies’, a fruit drink made from crushed fruit. Mary Ryan, a... show full transcript
Worked Solution & Example Answer:Evaluate the elements of the marketing mix for Fruit First Ltd - Leaving Cert Business - Question A - 2008
Step 1
Evaluate the elements of the marketing mix for Fruit First Ltd.
Answer
1. Product
Fruit First Ltd offers smoothies made from crushed fruit. The unique selling proposition (USP) is the health benefits of natural ingredients, emphasizing freshness and quality. This aligns with consumer trends towards healthy eating.
2. Price
The pricing strategy should reflect the quality and uniqueness of the product. Offering a premium price could enhance the brand's image as a quality supplier, while maintaining affordability in competitive markets.
3. Place
Distribution channels include retail outlets, fitness centres, and health shops. Ensuring accessibility to customers in various locations is key for market penetration.
4. Promotion
Marketing strategies involve both online and offline advertising, emphasizing the health benefits and quality of the smoothies. Engaging with customers through social media and local events can enhance brand awareness.
5. People
The training and development of staff are crucial in delivering quality customer service. Staff should be knowledgeable about the product to effectively promote it.
6. Process
Streamlining production processes can lead to efficiency improvements, ensuring timely deliveries and maintaining product quality.
7. Physical Evidence
Packaging should convey quality and freshness. Market presence through attractive branding can attract consumers and encourage sales.
Step 2
Discuss how Fruit First Ltd benefits the local and national economy. Refer to the above text in your answer.
Answer
1. Employment
Fruit First Ltd provides jobs locally, employing thirty full-time workers. This boosts the local economy by increasing employment opportunities.
2. Sourcing Local Supplies
By sourcing fruit locally, the firm supports local farmers and suppliers, circulating money within the community and enhancing economic sustainability.
3. Business Growth
As the business profits approach €1 million, it contributes to regional economic growth, fostering further investment and expansion potential in the wider national economy.
Step 3
You have been appointed to advise Fruit First Ltd on entering international markets. Outline your analysis of the opportunities and challenges facing Fruit First Ltd and make an appropriate recommendation.
Answer
Opportunities
- Access to Bigger Markets: Entering international markets provides new customer bases, enhancing revenue.
- Easier Market Expansion: The growing demand for health products globally aligns with Fruit First's offerings.
Challenges
- Competition: Entering established markets may expose Fruit First to strong competition.
- Regulatory Constraints: Different countries have varying regulations that could complicate market entry.
Recommendation
Fruit First Ltd should conduct thorough market research before entering new territories, ensuring compliance with local regulations and tailoring marketing strategies to fit different cultural preferences.