Product

Product

When coming up with the product “Lava Cakes” created by Phileas Fogg snack foods, the idea has to be solid and strong before it can even move onto the next stages of development. The whole movement of the products decisions, ingredients, and packaging has to be tackled at a high level where everyone agrees on the decisions. Corporate level has the authority of making or changing the company mission statement, setting objective and goals towards the snack food, and designing the business portfolio or what the story behind “Lava Cakes” is and what it means to the public.( Armstrong & Kotler (2011) Marketing: An Introduction) The company has to market and make decisions as a group or a unit, where the planning market strategy as well as other functional strategies make sense. ( Armstrong & Kotler (2011) Marketing: An Introduction)The product has to come out on the scene to the market strong, and fit the need of supply and demand. If there is not a strong enough market for the product, Lava Cakes, the snack food will sink and become a huge hassle for the company where they end up losing money. ( Armstrong & Kotler (2011) Marketing: An Introduction) The company has very important questions to answer like what is our business, what have we previously put out onto the market, what is our customer values, who are our clients, who would be our potential customers, and what is the price of this product. ( Armstrong & Kotler (2011) Marketing: An Introduction) The company must have these questions answered before moving on to the product line and mass producing the product on a massive scale. Once the company figures out these main steps The product has a great chance at being successful in the market place.