Marketing Mix – Coursework Example
Marketing Mix and 4 Ps for Cupcakes Marketing Mix and 4 Ps for Cupcakes Marketing mix is used to analyze the product with respect to its price, placement, promotion and product. Cup cakes are fast moving items that are consumed by wider range. Assessment of cup cakes with respect to cupcakes is as follows:
1. Product: It refers to the capability of the product to accomplish the want of the customers. The product that is launched should be able to meet the tastes and trends of consumers otherwise it will fail. Cupcakes is a good option to be selected for sale in the Middle East especially Qatar. Cupcakes, which originated in the US, have now made their market in the Middle East. It is hopeful that the cupcakes will work lucrative (Victoria, 2013).
2. Price: Normally cupcake spread over a range of prices depending upon the type and colors. However, cupcakes start from 12 QR on an average (The Cupcake Factory, Doha, 2014). Therefore, the price should be competitive to the market rates. Too much low price may make the product impression cheap to the customers so the price should be equivalent to average prices.
3. Placement: Placement refers to the physical availability of the products to the customers. The product should be in reach of the customers otherwise risks of sales decline gets high. Sales of cupcake via website will make cupcake virtually available to all the customers. In the Middle East, the trend of e-commerce is increasing significantly. In many countries, it increased 3 to 4 times in 2012 as against 2011 (The Middle East region has witnessed strong growth of e-commerce despite weak links in the value chain, 2012).
4. Promotion: For promotion of cupcakes, e-commerce might not be the right option. This is because many of the consumers of cupcakes are children, their parents shop for them. E-commerce is much popular amount youth as compared to the age of parents that may range between 30-45. Some other promotion technique should be used such as pamphlets, hoardings and bill boards which make the availability of the product in knowledge of customers.
The Cupcake Factory, Doha. (2014, May 15). Retrieved from http://www.zomato.com/doha/restaurants/the-cupcake-factory
The Middle East region has witnessed strong growth of e-commerce despite weak links in the value chain. (2012, April 22). Retrieved from http://www.deloitte.com/view/en_iq/iq/insights-ideas/fb67759e1cc6d310VgnVCM2000003356f70aRCRD.htm
Victoria, C. (2013, February 22). Sweet Success: America’s Cupcake Craze Goes Global. Retrieved from http://www.foxbusiness.com/industries/2013/02/19/sweet-success-americas-cupcake-craze-goes-global/