But due to previous expertise with unsustainable high sales during promotional periods and constant decreasing sales at the end of the promotional campaign, the company would not implement the penetration pricing strategy
Terry's Group should implement a variable pricing strategy, meaning that the retail price would be given by the costs of manufacturing the products. A modification in the manufacturing costs (such as commodities or labor force) would materialize in a consequent modification of the retail price
Place Decisions
The new Pyramid product line will be available within the company's own stores and also within the stores of Terry's partners and supermarkets
The transport of the products to the retailing destination will be ensured by the producer
The warehousing will also be ensured by Terry's Group
Promotion Decisions
The marketing team at United Biscuits will develop and implement a strong advertising campaign
The advertising campaign will be aired on all available media channels, including television and internet advertisements, radio announcements and street banners and fliers
The executives at Terry's Group will participate to international conferences of the industry and will promote the products through interviews in television talk shows and specialized magazines and industry journals
Promotions will also include promotional sales, during clearly established periods of time
All in all, the international chocolate manufacturer is currently faced with decreasing sales, problem which they could resolve by implementing a wide series of marketing strategies as to better address and satisfy the needs of the customers.
Reference:
Terry's Group: Designing Novelty Chocolates, Harvard Business School Publishing, 2001
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