Question
Mr. Crump and Mr. Shearing wanted to set up a catering business providing food for parties and special occasions. Both of them were good cooks
Mr. Crump and Mr. Shearing wanted to set up a catering business
providing food for parties and special occasions. Both of them were
good cooks and had worked for several years in the kitchens of
successful restaurants. However, they had never run their own
business before, and knew that they had to do some market research
before they got started. They also knew that the marketing mix they
used was going to be important in terms of making sure customers
knew about their business, booked and enjoyed the experience.
They were a bit nervous about all these new things to think about
but were desperate to make it a success. The only problem was that
by the time they had rented the premises to use as a base and
invested in equipment there would not be much money left over for
the marketing. Also, they had to decide on the price to charge for
their services. Mr. Crump and Mr. Shearing had already looked at
the prices other catering companies were charging.
Mr. Crump felt their food was going to be much better and thought
they might be able to charge customers 10% more than their
competitors. Mr. Shearing wasn't sure and felt they might make a
higher profit with a lower price. Mr. Crump felt they needed to raise
money somehow so they could do more market research.
Recommend two ways in which Mr. Crump and Mr. Shearing might
promote their business. Justify your choices.
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