Marketing Mix
1 c) To what extent has The Authentic Food Company Ltd’s products been the most important element of its marketing mix?
Marketing Mix, is the combination of Price, Product, Place and Promotion used by a business.
A reason for why the product is the most important element of TAFC Ltd’s marketing mix is because the company has made sure that the quality of its products is their USP and due to this has enabled them to grow throughout the frozen foods market. This is because due to the high quality of their products, they have become increasingly popular. As a result of this it has increased the reputation of the business and has allowed TAFC Ltd to expand and also enter new markets, as it says in the case study that TAFC Ltd are opening in Manchester and supplying cruise liners. Therefore due to the product being TAFC Ltd’s USP it has been allowed them to expand into new markets and also increased their reputation.
A reason for why product isn’t the most important element of TAFC Ltd’s marketing mix is because TAFC Ltd’s aim is to expand the business. This means that price, will have to play an important role, as they will need the funds to pay for the expansion. As a result of this you can see in the case study that it has opened a new restaurant in Manchester, which would’ve evolved start-up costs to set up the restaurant. Therefore, its shows the product isn’t the most important element of their marketing mix, as they’re having to use money to set up new restaurant, but also have to invest money in new equipment, as it says in the case study they invested £1 million in the latest production line equipment.
In conclusion, I believe that the product isn’t the most important element of the marketing mix, this is because the product is their USP and has helped them able to grow within the frozen food market. However for TAFC Ltd to expand they are going to need the sufficient funds to afford the expansion, but also promotion is very vital as they are entering new
Marketing Mix, is the combination of Price, Product, Place and Promotion used by a business.
A reason for why the product is the most important element of TAFC Ltd’s marketing mix is because the company has made sure that the quality of its products is their USP and due to this has enabled them to grow throughout the frozen foods market. This is because due to the high quality of their products, they have become increasingly popular. As a result of this it has increased the reputation of the business and has allowed TAFC Ltd to expand and also enter new markets, as it says in the case study that TAFC Ltd are opening in Manchester and supplying cruise liners. Therefore due to the product being TAFC Ltd’s USP it has been allowed them to expand into new markets and also increased their reputation.
A reason for why product isn’t the most important element of TAFC Ltd’s marketing mix is because TAFC Ltd’s aim is to expand the business. This means that price, will have to play an important role, as they will need the funds to pay for the expansion. As a result of this you can see in the case study that it has opened a new restaurant in Manchester, which would’ve evolved start-up costs to set up the restaurant. Therefore, its shows the product isn’t the most important element of their marketing mix, as they’re having to use money to set up new restaurant, but also have to invest money in new equipment, as it says in the case study they invested £1 million in the latest production line equipment.
In conclusion, I believe that the product isn’t the most important element of the marketing mix, this is because the product is their USP and has helped them able to grow within the frozen food market. However for TAFC Ltd to expand they are going to need the sufficient funds to afford the expansion, but also promotion is very vital as they are entering new