Product. Place. Promotion. Price
Product- We had a good quantity and supply of food. We sold what the public wanted (drinks and cupcakes) and sold out a lot of our product with ease.
Place- We chose a location where beverages were wanted but not being sold. We selected the location with the least businesses and most customers. Coca Cola can be bought from Cinemas, wholesalers such as Costco also at locations such as supermarkets and off-licence shops.
Promotion- We chose to advertise our stall by making posters and place them around the school. We however did not get enough posters around the school, so we let Milan and Jamie promote their product and subsequently bring in customers to us. We also used Social Media to promote ourselves, subsequently customers kept a constant flow.
Price- We chose to price our cakes at a reasonable price that people agreed was good, the price never exceeded 80p per product but doubled our profit and more. The price was open to alteration, for example Coke cans were decreased to 65p when only 4 where left and also the cakes which were bought for £2 for 22 were sold for the same price for a lower amount of product (8 cupcakes to be precise).
Real Life Examples: Reality In Business
Coca Cola's success came from gradually building up the four P's, owners of Coca Cola have varied over the years and that has helped the product, the product was sold for a dollar. The fact it was sold for a dollar proved fatal because in the end it was perfectly promoted, perfectly priced [definite profit], perfectly credited and what started as an idea bought for a dollar became a business worth $74 Billion. In comparison to companies such as Budweiser, Pepsi, Starbucks, and Red Bull equal up to $50 Billion when combined, therefore showing why promotion is particularly important.