Btec business level 3 national diploma - unit 2, Rationale Exam Answer... this is from a distinction* distinction* student in 2023
This will meet all the necessary requirements. Saves time and increases efficiency. Note: Please see rest of uploads to get other tasks and all the units for your WH...
Thanks for the review glad it helped... i do a package deal with all the topics, cop it if you're interested!
Seller
Follow
fgjbaker
Reviews received
Content preview
Centre Number: 61855 Learner Number: P633165 Name: Fin Baker
In this extract, I will be identifying how to undergo these SMART objectives to reach their final aims
of maintaining their revenue.
Marketing Mix
Product: Their product offered is a well-constructed, quality food box that meet the needs of
customers who either have busy lives and need to save time, or families that want good-quality
fresh food. It is important for Wholly Nutritious to consider form and function. This in essence
describes the quality of the product in terms of how it looks, how it is packaged. I would advise they
use material that are environmentally friendly like a degradable carboard, that although may
increase the costs slightly, it will hit the demands of the consumers increasing their revenues and
maintaining their profits. Their function is their actual purpose. If their goal is to save time in an
attractive, interactive and high-quality manor, they should look to keep their designs simple and
focus on the outcome of the product. They should make sure their product is easy to open and
clearly underpins how to prepare the product. For the families, they should definitely consider
providing information on where to find their video demonstrating how to use the product
purchased. This will keep the customer happy, likely recommending the product, promoting it by the
use of word of mouth, still the most effective yet traditional means of promotion. Branding is
essential, it makes sure that the business is recognisable, the colours and designs must be clear and
bold, something that causes the personality of the brand to excel inn their minds. This is what the
greatest market leaders consider when seeking a maintained revenue. A product they can eat on the
go could be good as well, the more successful businesses has a diverse range of products.
Price: Wholly Nutritious currently charges £10-£50 on food boxes that contain fruit and/or
vegetables depending on the size and £5-30 on boxes containing ingredients for a specific meal. I
would advise that due to the financial struggles they continue to make the product more affordable,
but while cutting as much useless costs as possible to maintain the profit margins. Another solution I
would advise is that they provide Sales promotion. They already provide a couple of discounts;
however, I believe that by introducing a huge variety with weekly changes to them, they will be able
to create huge amounts of traffic. Price is a determining factor in this industry, so meeting these
needs are essential. Dominoes is a fast food restraint and use this method effectively, it works
evidently by their successes. For their new menus they should focus on competitor-based pricing, a
pricing strategy that relies on the pricing of competitors, to define a cheaper alternative that
continues to meet wants and needs of the customer.
Place: Understanding the distribution channels is important as it must be done in an effective way to
ensure that the customer remains happy. Wholly Nutritious is already defined and have this nailed
quite well based off their successes financially. However, to maintain their profits, I would suggest
that they look to target more of the rural communities as previously outlined in the analysis, they
have not been targeted as effectively as the urban areas. They can achieve this through different
promotional methods that may appeal to this kind of sparsely populated community, where families
are more likely to be located (their target market). It is also important to know where the product
comes from as is important for consumers to know, if it is sourced more locally, it can be priced
slightly higher as it may be of higher quality with a greater degree of nutritional and health value.
This would be great as the title of the company wold reflect directly to the product. These kinds of
links help to build relationships with customers. These relationships help loyalty and therefore
increased number of sales each week.
Promotion: In my opinion the best means of promotion currently is social media, they have already
conducted primary and secondary research to identify that their existing consumers would like to
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller fgjbaker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.57. You're not tied to anything after your purchase.
