Product, Price, Promotion & Placement Essay

merchandise, Price, Promotion & billetNow that we have analyzed our merchandising research and we have identified our potential target markets as organism in the young adult to ticker age adults and from the lower middle class and upward income bracket it is time to develop our means to r to each one into these markets and ripen IPT. How we target these markets is a series of techniques known as carrefourion, pricing, promotion and placement. We also know from the research that 35% of our clients would buy from a store antecedent, 30% would put together online or from a catalog, and our business organisation customers would place direct orders. ProductIn the 4 Ps intersection point is the overhaul factor beca h elder this is what we sell and what we need to put in front of our customers. Our best products be always those that are unique or have a circumscribed niche market that does not have as much or less competition in the market. We have a special secure coating for our popcorn that sets us apart and this each(prenominal)ow for be our lead product. Packaging of our product is especially important with a food cogitate product. We want to emphasize the uniqueness and we want it to show, so we allow enjoyment a clear bag with an Old Fashioned label that leave alone be very appealing and desirable, our popcorn ordain look best unopened sitting on someones counter or table at home or in the office.PricingBecause our product is unique we cigaret demand a higher price than the separate run of the mill popcorn producers. As a premium product we also establish IPT as the premier high end popcorn treat producer. Our pricing will also stay well inwardly the range of other high end products. The rest of our product lines will be priced within the average range of other similartreats. batch business orders will be discounted and our sales to the national flower and endue handbasket high society will be wholesale allowing for mark up on res ale. PromotionPromotion of our products will be three line and very targeted. First we will increase the number of store front steads in the areas with the best demographics and remember the most important rule for a retail business location, location and location. This will put IPT solidly in the market area and the presence will give our brand the brick and daub support as is done by Barnes & Noble, Inc. From all of our shopfront locations we will promote the IPT website for online ordering and placing orders with the national flower and gift basket company to send our products to friends and relatives across the nation and beyond. We will have to set up a strong website and we will use a professional hosting supporter to product the secure ordering, catalog creation and other site merchandise features such as printable coupons for ordering that can be utilize at the brick and mortar store fronts. The website will also allow our business customer to place their orders and tr ack the shipment. We will be utilizing search locomotive registration and promotion to make sure we pop on all searches with key words like popcorn, gifts, treats, cookies, sweets and coated to name a few. PlacementGetting the product in front of or visible to the consumer is essential, the old saying is that if you have a great product then you must be able to supply that product when the customer wants it and where they want it. client service and product availability are everything to the customer. We will rarify into each market area such as Philadelphia by establishing a storefront and a small warehousing operation to handle the daily ordering, expatriation and support for the market area. The store fronts will produce the product topical anaestheticly for retail and shipping within their market area so the product is fresh and doesnt age. Our warehouse will stock mainly supplies for the issue lines at the store front. A good example is Krispy Kreme, Inc. which uses each location to bake the donuts and then deliver to local vendors such as toilet facility stores, restaurants, events and other functions. We must be able to support the markets we are targeting.Consumer CharacteristicsFrom personalized experience and as reflected in our market research most consumers elect to purchase perishable consumables at a local store and we will need to entice our targeted consumers to come to the store fronts or to order online in one case they have tasted and enjoyed our products. Much like Starbucks whose coffee shops sell a ken of items not related to coffee we must consider adding the intrinsic items that our customers would keep an eye on interesting such as free wireless internet price of admission from each storefront. This feature would also help us promote our website and expand our customer base. We must continue to collect feedback from all of our market areas and customer to make sure we keep our product fresh and exciting. Distribution and developing impactsAs we grow we must make sure we have the cornerstone to supply our new markets and that our suppliers are aware of the expected increases in quantities we order and that they are able to keep up. We should also expect discounts for high mountain orders. Centrally we will supply the national flower and gift basket company and the local market place. Our store fronts will supply their local markets to include internet orders, business orders and retail sales. SummaryWe will use all of this information provided today to continue our development of the marketing plan for IPT. I hope we have answered your questions and put to rest your doubts. If I can be of assistance in answering any other questions you tycoon have please let me know as soon as possible.References(Pereault William D McCarthy E Jerome 2006 Essential of merchandise A Global-Managerial Approach)Pereault, William D., & McCarthy, E. Jerome (2006). Essential of Marketing A Global-Managerial Approach (10 th Edition ed., Rev.). New York, New York McGraw-Hill/Irwin.