Introduction to Marketing P6

1296 Words Feb 18th, 2011 6 Pages
Develop a coherent marketing mix for a new product or service.

The target audience I am trying to capture is the whole of North West Kent College. The reason I am trying to capture the whole college is to maximise profits for my business which will then in turn eventually allow me to expand my business.

The new service that I am going to start is a café just off of the North West Kent Dartford college campus. This service I will be bringing to the college will be made so that people who wish to spend low amounts of money on a breakfast/lunch for people of all health ranges.

This service will not limit its customers to only people that would like to eat healthy or unhealthy I will have a varied menu for everyone
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Although there are other types of pricing such as skimming pricing where the business will set an initial high price but slowly lower it so that they can gain more types of customers from a wider market.

I have used psychological pricing by pricing my items at 99p instead of £1 as many customers will choose to buy this item as it is lower than other companies even though it is only 1p cheaper.

Premium pricing is where a company will aim there prices high to reflect the effectiveness of their company.

The place in which this café will be situated is just outside the main entrance gates to North West Kent College, the reason for this area as this will allow my business to gain the most amount of attention as many of the students that are enrolled within the college will travel past this area. As people travel past the café they will notice it and will then spread the word about the new café being open, this will help my business gain publicity which will help my business grow.

I have looked around at various other places that may be suitable to have my new café, however, many of these places are further away from the college, this would make it inconvenient for the students to travel to
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