Name of people so the result will be

Name of companyBab’s CreamName of industryFood IndustryProposed research question (give at least 2 options)To what extent does a better marketing mix will affect the company?RationaleThe reason why I chose this company is that because i see a great potential in the profit maximization, I think i can help the company by improving their marketing aspects with the skills that I acquired from business management skills. I will try to improve on the marketing mix, and based on my investigation, they are lacking place and promotion skills. Areas in the syllabus to be usedMarketing(4PS Marketing Mix)(SWOT Analysis)(Ansoff Matrix)Possible sources of informationPrimaryInterviewQuestionnaireCompany salesSecondaryWebsitesOrganizations and individuals to be approachedCEOCustomersMethods to be used to collect and analyse data Interview and Questionnaire, These methods will help me to analyse the SWOT and 4Ps of the company. I need to use the interview method to get to know more the company from the inside, so i can analyse the internal aspects of the company while i need the questionnaire method to get to know the customers and analyse the external aspects of the company.Anticipated difficulties (biased data/limited data) and action plan on how to overcome themThe difficulties I might face are lack of respondents in the questionnaire and the answer might be biased.Limited DataPossible Solutions:Use secondary resources from the internetSurvey different kind of group of people so the result will be less biased. INTRODUCTIONResearch Question: To what extent does a better marketing mix will affect the company?Babs Cream has been operating since 2015, it is a new product. It is a small food company that sells ice cream with several flavours. It is operating in the neighborhood with a small networking. Most of the customer that has bought their product said that the quality was good and it is better than the other ice cream products. Until now, he is still operating in the neighborhood without any development. The company already have the strength with a good quality but i think that the company is still lacking in many aspects. I wanted to try on using different techniques using 4Ps and SWOT analysis on the company to increase their sales. The reason why I chose this company is that because i see a great potential in the profit maximization, I think i can help the company by improving their marketing aspects with the skills that I acquired from business management skills. By analysing the marketing mix 4Ps and the SWOT analysis of the company, i will be able to know what’s holding the company back and will try to maximize the profit.  Graph 1. Goods sold each Month Graph 2. Goods sold each MonthAll the graphs has shows that the sales has been all the same from year 2015, it does not show any drastic development towards the income. We can also see that since may until december, the goods that are sold to the customer each month is decreasing. In the first four months since the company has been operating, the average of the goods sold each month is 36.75 items ((42+36+34+35):4) and the next four months, which is September until December 2016 is 24 items sold each month ((32+28+12+24):4). As you can see, the average difference between the first four months and the next four month is 10.75 items. The company needs to do something to make the customer buy the product more. In order to do so, I will have to use some of the skills that I acquired from my business class to help the company in some aspects. MethodologySources of InformationReason Why?Primary Sources:Interview (CEO of the company)Questionnaire (customers) The reason for me to do the interview on the CEO is to know more about the company, like the issues that the company is facing, the strength and weakness from the company itself, does the company have other competitor? By getting to know all of this, i will have a bigger picture of what the company is dealing with.The reason for me to do the questionnaire is to get to know the customer wants and the customer needs.Possible problems: Limited point of view lack of respondents in the questionnaire and the answer might be biased.It might not be as realistic as it is Because i will only be interviewing one person of the companyBecause the questionnaire will only be spread to a small group of peoplethe company does not want to hurt their reputationTools & Theory4Ps Marketing Mix (main theory)The marketing mix is one of important aspect to help understand what the product or service can offer and how to plan for a successful product offering. The marketing mix is most commonly executed through the 4 P’s of marketing: Price, Product, Promotion, and PlaceProduct/ServiceA product is an item that is built or produced to satisfy the needs of a certain group of people. The product can be intangible or tangible as it can be in the form of services or goods.PriceThe price of the product is basically the amount that a customer pays for to enjoy it. Price is a very important component of the marketing mix definition.PromotionPromotion is a very important component of marketing as it can boost brand recognition and sales.PlacePlacement or distribution is a very important part of the product mix definition. You have to position and distribute the product in a place that is accessible to potential buyers.SWOT AnalysisStrength: describe what an organization excels at and separates it from the competition: things like a strong brand, loyal customer base, strong balance sheet, unique technology and so on. Weaknesses: stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive.Opportunities: refer to favorable external factors that an organization can use to give it a competitive advantage. Threats: refers to factors that have the potential to harm an organization. Market penetration, you concentrate on growing offers of your current product in your current market: you know the product works, and the market holds few amazements for you. Product development, is marginally more unsafe, that you’re bringing another product into your current market. With market development, you’re putting a current product into a completely new market.Diversification, you’re presenting another untested product into an new market that you may not completely understand.Main results, analysis findings & discussionsInterview results & questionnaire: The problem of the company is the marketing aspect. Since the company is sole trader type, the company budget is also low, and in desperate need of promotion skills. In the November 2016, the company mengalami decreasing in goods sold, and the owner almost lost his company and wanted to stop selling. This is the point when they also started focusing on their marketing skills (the advertising and other promotion skills) and apply a new packaging to increase the interest of the customer towards the product.According to their sales from the previous years of operating, their target market are commonly children until teenagers aged from 8-22 years old. Most of the customer said that the reason they are buying the products mostly because of the quality of it. However, the only customer that bought his products are the people in the neighborhood. The company cannot go further and expand the company due the financial issues. The pricing aspects has never been a problem since day one. The fund of the each product  is 7,500 so the company takes about 25% of each goods sold of the 10,000. The owner said that there has never been a real threats to the company, however there also people in the neighborhood that also into the food industry, though what they are selling is different from his company. If the other competitor expand their business, the company has to expand their business too to maintain the revenue but as i said earlier, one of the biggest weakness of the company is the budgeting skills. The only chance the owner gets to improve the scale of their sales is only when there is a bazaar around the neighborhood. Right now, the promotion of the company only goes through social media and networking (friends, family, relatives). The product can take advantage through new trends. For example, the company always re new the product when there is a new food trend. SWOT AnalysisSWOT AnalysisStrengthsCustomer satisfaction (Customers do say they like the product that the company is selling and give positive comments by recommending the product to others)Have many return customers (The company tends to have loyal customers.)Originality of the product (the product is different from other company)Sole trader (it is a good thing because it is a small business, so it reduces chances of clash arguments between coworker which will slow the work rate, more profit for the owner)Cost advantages (Even though the company have a really good quality of the product, the price is considered to be low)WeaknessesDon’t pay much attention to marketing (the company lacks employee, and lacks suggestions and ideas to improve their marketing skills)Don’t have a marketing plan (the company doesnt have a long term goals and and doesn’t try to improve their marketing skillsDon’t have much of a marketing budget (their financial is limited)Limited service lines OpportunitiesNew marketing means new ideas for promotion or productsTake advantages of new trendsThreatsOther food businesses in town, competition is increasingability to have greater brand recognition from the market.The competitor expands their businesses 4Ps :Product/ServiceBab’s Cream company only provides ice cream with several flavours which are: Vanilla OreoChocolate Tim-tamVanilla Tim-tamVanilla TobleroneChocolate TobleroneThe product basically follows the food trend, whenever there is something going on with the trend, the owner will re new the product to keep up with the trend.PriceThe prices for all of the products are the same, which is 10,000 Rp. Bab’s cream uses penetration pricing strategy. The company tries to maximize the quality of the product while having a lower cost than other competitors. It is appropriate because the demand is expected to be highly elastic; that is,if the customers are price sensitive, they will demand more product which will make the quantity increases as the price declines.PlaceBab’s cream sometimes operates in small school bazaar, mosque, and the owners house. Bab’s cream usually deliver the goods to the consumer.PromotionBab’s cream is a small company. The company only promotes the product through social media and networking. Advertise the product will need more financial which the company couldn’t afford it yet.Ansoff matrixRight now, the company is on the product development stage. The company keeps on bringing new product to the same market. When applying the product development system, it is often that the new product experience a failure and it takes a long period of time to make the customers gets used to it. To reduce the chance of failure of the new product, the company is doing a research to their customers first because they have to know what the customer needs and what the customer wants, so the company can increase the profit maximization by increasing the revenue. The outcome of the investigation on the customers is that the company makes the new product closely associated with the current products, the new product also matches with the current customers purchasing habits, and the new product also refreshes the existing product.Conclusions and RecommendationsBack to the main question, “To what extent does a better marketing mix will affect the company?” APPENDIXNo.QuestionsAnswers1.Have you ever heard “Bab’s cream”Wisnu : ” Yes, its my friends company”Ilhaam: “Yes i have”Faruq: “I’ve heard it, once or twice”2.What do you think about the company?Wisnu: “it is good and cheap”Ilhaam: “It’s great and i like the taste of the product”Faruq: “i haven’t bought the product yet, so i still don’t know much about the company 3.What do you think about the service of the company?Wisnu: “the company is kind of hard to Ilhaam: “I’d like to buy the product regularly but the service of the company sometimes prevents me from buying it as it lacks employee.”Faruq: “i’ve been wanting to try the product but sometimes when i want to buy it, the owner is gone so there is no one to contact.”4.What do you think about the company’s place?Wisnu: “it is pretty much good”Ilhaam: “it suits for a small company”Faruq: “its good and easy to find”5.What do you think about the product?Wisnu: “it’s better than the other ice cream products”Ilhaam: “the things that I like the most from the company is the taste of the product and the price”Faruq: “my friends that has bought the product said that the taste is good”6.Do you think the price suits the quality of the product?Wisnu: “for that quality, i think that the price is good”Ilhaam: “the things that I like the most from the company is the taste of the product and the price”Faruq: “i haven’t tried the product yet so i still can’t judge the price”7.What do you think about the promotion of the company?Wisnu: “The company lacks promotion skills”Ilhaam: “i think that the owner should promote it in the mediaFaruq: “i know the product after 3 months it has been first release, so i don’t think that the promotion of the company is really good”8.Do you have any suggestions towards the company?Wisnu: “i think that the company should hire a new employee to manage and help the owner manages the companyIlhaam: “to increase the sales, maybe the company should go to food festival to promote it’s product.”Faruq: “should improve promotion skills”9.If the company wants do to improve something, which aspects do you think needs improvement the most?Wisnu: “the promotion”Ilhaam: “the place and promotion aspects:Faruq: “the promotion aspect”10.What do you think that makes this company is different from the other companies?Wisnu: “the product itselfs”Ilhaam: “The price and the product”Faruq: “the product”Interview Questions