Name: Eric Asare
Assignment: 3 Unit 3 p6
Teachers name: Charles Musana
Class: 1G
Product
My product is going to be called vodcoke. This product is a mixture of vodka and
coca cola. This products bottle will be 250ML. this products will be for anyone
over the age of 18 because by law you have to be 18 and over to drink alcohol
and this drink contains alcohol. Vodcoke will contain 150 calories.
Ingredients inside each bottle of vodcoke? Each bottle contains caffeine, vitamin
B, alcohol and spring water. Vodcoke will be black in colour when poured plus the
bottle will be 100% recyclable
Price
Vodcoke will be sold in a retail price of £2.50 and a warehouse price of £1.50.
This drink will only cost my business 0.50p to make therefore I will be making a
profit of £1.00 for every bottle my business sells. Once the big retailers buy my
products for the price of £1.50 they can then sell it for £2.50 making a profit of
£1.00. My business will also sell the products for 0.90p if big the retail stores buy
over 1 million.
Owners of small businesses price their products and service using strategies that
fit their target markets budget. Price skimming is a type of strategy that
businesses use when they are first entering the market with a product or service.
With price skimming. When a product is first realised, it’s offered at a high price
and then lowered later in the products life cycle or when completion begins to
enter the market. Psychological pricing uses the customer’s emotions to
response to encourage sales. By price the products strategically, a business may
sometimes increase sales without significantly reducing their prices also in some
case a higher price may actually increase sales as well. But you have to consider
several factors in crafting a psychological strategy to get the best result.
Promotion
Coca cola have agreed to sponsor my product which is a benefit because it
increases the awareness of my product. My business will have a B2B
representatives who will visit night clubs around the UK and try to sell to the
night clubs they visit. Also my business will produce around 2,500,000 samples
and give them to customers of those night clubs in order to get their feedback of
the product.
Place
My product will be sold in bars, night clubs, super markets and local stores.
Example of supermarkets which will be selling my products are Tesco, Asda, Lidl,
Sainsburys and many more. Local stores such as londis, lotus groceries store and
others and lastly bars and night clubs such as Ministry of Sound, fabric, Nightjar
and others.
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Assignment: 3 Unit 3 p6
Teachers name: Charles Musana
Class: 1G
Product
My product is going to be called vodcoke. This product is a mixture of vodka and
coca cola. This products bottle will be 250ML. this products will be for anyone
over the age of 18 because by law you have to be 18 and over to drink alcohol
and this drink contains alcohol. Vodcoke will contain 150 calories.
Ingredients inside each bottle of vodcoke? Each bottle contains caffeine, vitamin
B, alcohol and spring water. Vodcoke will be black in colour when poured plus the
bottle will be 100% recyclable
Price
Vodcoke will be sold in a retail price of £2.50 and a warehouse price of £1.50.
This drink will only cost my business 0.50p to make therefore I will be making a
profit of £1.00 for every bottle my business sells. Once the big retailers buy my
products for the price of £1.50 they can then sell it for £2.50 making a profit of
£1.00. My business will also sell the products for 0.90p if big the retail stores buy
over 1 million.
Owners of small businesses price their products and service using strategies that
fit their target markets budget. Price skimming is a type of strategy that
businesses use when they are first entering the market with a product or service.
With price skimming. When a product is first realised, it’s offered at a high price
and then lowered later in the products life cycle or when completion begins to
enter the market. Psychological pricing uses the customer’s emotions to
response to encourage sales. By price the products strategically, a business may
sometimes increase sales without significantly reducing their prices also in some
case a higher price may actually increase sales as well. But you have to consider
several factors in crafting a psychological strategy to get the best result.
Promotion
Coca cola have agreed to sponsor my product which is a benefit because it
increases the awareness of my product. My business will have a B2B
representatives who will visit night clubs around the UK and try to sell to the
night clubs they visit. Also my business will produce around 2,500,000 samples
and give them to customers of those night clubs in order to get their feedback of
the product.
Place
My product will be sold in bars, night clubs, super markets and local stores.
Example of supermarkets which will be selling my products are Tesco, Asda, Lidl,
Sainsburys and many more. Local stores such as londis, lotus groceries store and
others and lastly bars and night clubs such as Ministry of Sound, fabric, Nightjar
and others.
1 | Page
