Marketing Mix Essay
To what extent has The Authentic Food Company Ltd’s products been the most important element of its marketing mix? Marketing Mix, is the combination of Price, Product, Place and Promotion used by a business. A reason for why the product is the most important element of TAFC Ltd’s marketing mix is because the company has made sure that the quality of its products is their USP and due to this has enabled them to grow throughout the frozen foods market. This is because due to the high quality of their products, they have become increasingly popular.As a result of this it has increased the reputation of the business and has allowed TAFC Ltd to expand and also enter new markets, as it says in the case study that TAFC Ltd are opening in Manchester and supplying cruise liners. Therefore due to the product being TAFC Ltd’s USP it has been allowed them to expand into new markets and also increased their reputation. A reason for why product isn’t the most important element of TAFC Ltd’s marketing mix is because TAFC Ltd’s aim is to expand the business.This means that price, will have to play an important role, as they will need the funds to pay for the expansion. As a result of this you can see in the case study that it has opened a new restaurant in Manchester, which would’ve evolved start-up costs to set up the restaurant. Therefore, its shows the product isn’t the most important element of their marketing mix, as they’re having to use money to set up new restaurant, but also have to invest money in new equipment, as it says in the case study they invested ? 1 million in the latest production line equipment.In conclusion, I believe that the product isn’t the most important element of the marketing mix, this is because the product is their USP and has helped them able to grow within the frozen food market. However for TAFC Ltd to expand they are going to need the sufficient funds to afford the expansion, but also promotion is very vital as they are entering new markets, so to become well known there are going to have to use some sort of promotion to get TAFC Ltd recognised. Therefore I truly believe that all elements of the marketing mix are as important as each other. d) Motivational techniques have been the main method used by The Authentic Food Company Ltd to create an effective workforce. Do you agree with the view? Justify your decision? Workforce is the total group of employees working in a business. A reason that motivational techniques are the most important reason for the company having an important effective workforce, is that in the case study it shows that employees who perform well can receive promotion and up to 40% of their salary as a bonus. This means that the company believe in Taylor’s theory that money motivates their employees to increase their workforce.As a result of this, it is shown to be successful as TAFC Ltd’s employees have been three times voted as one of Britain’s best employers. A reason that motivational techniques are not the most important reason for the company having an important effective workforce is because the company has a low level of labour turnover, 8%. This means that TAFC Ltd have been able to retain well trained employees, and as a result of this the employees are likely to perform effectively as they’re enjoying where they work.Therefore the quality of their products will be up to the highest quality and will create a very effective workforce. In conclusion, I believe that motivational techniques isn’t the main method for an effective workforce, this is because you can see that there has been a reduction in the profit margins by 6%, this shows that the employees aren’t motivated enough to be able to maintain their profit margin or even increase it. However as TAFC Ltd have won awards for best employees, it does show they can work hard and enjoy where they work.