Promotion

Promotion

When promoting the snack food for Phileas Fogg Lava Caka snacks it is very important that it is done in the correct way or else the products will end up a food that consumers do not want to buy and this will hurt the snack and ultimately the company. The product has four main categories it can fall into which are, stars, cash cows, question marks, or dogs.( Armstrong & Kotler (2011) Marketing: An Introduction) A star product is what the company wants to get it out in the market where it is an example for the many different other snack foods. If the product is a question mark or a dog product it will not be on the market very long and it is only a matter of time before the product doesn’t make the amount of income it needs to leading to a failure.( Armstrong & Kotler (2011) Marketing: An Introduction) It is important that the product Lava Cakes is marketed towards the very specific bar crowd because that who the consumers will be. Many ways this product can be advertised is on TV, online ads, posters in the super market as well as the bar, social media, radio, and by word of mouth. The company will have to think outside the box and use the story from the movie, Around the World in 80 Days, because this will spread its popularity around amongst the consumers and be sure to get the people talking. The product market expansion grid will show exactly where the product fits in and can identify growth opportunities. ( Armstrong & Kotler (2011) Marketing: An Introduction) Before releasing the product onto the market the company will want to do a portfolio analysis which is the process by which management evaluates the products and business making up the company. (Armstrong & Kotler (2011) Marketing: An Introduction) This step will help tell the company exactly where this product stands in the firm, and how much they expect to make annually of the product.