Question

A. Describe all the four elements of Finagle A Bagel's marketing mix. Which are most likely to be affected by external forces in the environment?

B. Does Finagle A Bagel apply all the seven phases of the new product development process when working on a new menu item such as the jalapeno and cheese Bagel? Explain

C. Do you agree with Laura Trust's assessment that adjusting prices based on store location can backfire? what agreements can you offer for and against Finagle A Bagel raising prices in higher rent stores?

D. Should Finagle A Bagel continue to spend nothing on media advertising and rely instead primarily on sales promotion techniques such as samples and coupons?

Answer 1

Does Finagle A Bagel apply all seven phases of the new product development process when working on a new menu item such as the jalapeno-and-cheese bagel? Explain.

The seven phases of a new production process are; product brainstorming, evaluate ideas, market evaluation, analysis, prototype and marketing, market testing, and prepare for launch. When the company is looking for a new product idea, Robertson and her colleagues do informal research. By talking to customers and employees. After that they write up a recipe. They then mix up a test batch. Through trial and error, they refine the idea until it is how they like it. They gave out free bagels for testing to see how consumers would like it. I do think they did all seven phases of the new product development process

Do you agree with Laura Trust's assessment that adjusting prices based on store location can backfire? what agreements can you offer for and against Finagle A Bagel raising prices in higher rent stores?

Well yes and no. I understand that with higher rent that means that you need more income. Maybe since the rent is higher that means they are in a bigger and or nicer community. Typically high-end communities have higher expenses, with that being said, the person brings in more money. So on that end of the spectrum yes. But you might not get as many customers as the same store that’s in a different community is that the same product is cheaper and they can just go there and get it.

Should Finagle A Bagel continue to spend nothing on media advertising and rely instead primarily on sales promotion techniques such as samples and coupons?

No they really should do media advertising. The internet is expanding and will continue to expand. More and more people get on the TV or the internet than people who read the paper (ads). Furthering media-based sales could bring in a lot more profit than leaving it in the dark. Companies would expand and sales would increase. That is when Finagle A Bagel could develop their wholesale and their retail, for they will probably be needing it