The price fixed by the company for its product would be determined on the basis of market research. In the initial phase, the company will use penetration pricing strategy, i.e. the company will lower the prices of its product. Hence, it will gain competitive pricing and at the same time will be able to enjoy increased sales. The pricing strategy of the company will be intended for attracting more customers towards the product at much affordable price. Angelix Pretzels will constantly supply hard salted pretzels to its potential customers in order to make their breakfast healthy and nutritional (Hood and Morgan, “ Marketing a Food Product: Marketing Considerations for a Small-Scale Food Processor” ).Promotion is regarded as the other important element of the marketing mix.
The objective of promotion is to stimulate the product demand of a company. With this concern, Angelix Pretzels’ promotion activities would basically cover two major areas including advertisement and sales promotion. The target of the company should be to attract customers aged from 18 to 35. With respect to the advertisement, an advertising campaign will be conducted with the goals to increase the sale of the product and to generate more revenue.
Moreover, the advertising should be conducted through national TV during the prime time such as during sports events on the major broadcast network and cable networks across the city. In addition to television advertising, print and radio media will be used for advertisement. With respect to sales promotion, Angelix Pretzels will provide discounts as well as free gifts on a significant amount of purchase (Hood and Morgan, “ Marketing a Food Product: Marketing Considerations for a Small-Scale Food Processor” ).The choice of place or distribution for any new business depends on a variety of circumstances.
Thus, in order to distribute its products, Angelix Pretzels will carefully consider transportation expenses involved in the movement of its products from the manufacturing site to ultimate users. Additionally, the company‘ s packaging will act as a trademark and helps in promoting the product in the market.
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