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CHAPTER 3 Food Marketing Series Event

CHAPTER 3 Food Marketing Series Event. Scenario You are to assume the role of merchandise manager for Vandalay T’s, a popular brand of high-quality tomatoes. The marketing manager has asked you to decide how the company should respond to rising oil prices. CHAPTER 3 Food Marketing Series Event.

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CHAPTER 3 Food Marketing Series Event

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  1. CHAPTER 3Food Marketing Series Event • Scenario • You are to assume the role of merchandise manager for Vandalay T’s, a popular brand of high-quality tomatoes. • The marketing manager has asked you to decide how the company should respond to rising oil prices.

  2. CHAPTER 3Food Marketing Series Event • Description • The marketing manager has come up with two possible solutions to the rise in oil prices and wants you to determine which is the best option for Vandalay T’s: • Solution #1: Raise the price of Vandalay T’s all at once. With oil prices more than doubling, Vandalay T’s would have to increase the price of the tomatoes significantly to offset the higher fuel costs. (continued on the next slide)

  3. CHAPTER 3Food Marketing Series Event Description • Solution #2: Raise the price of Vandalay T’s gradually over a period of time. This would not affect the consumers as much as increasing the price at once, but it would affect Vandalay T’s profits. (continued on the next slide)

  4. CHAPTER 3Food Marketing Series Event • Description • You will explain which solution you have chosen and the reasoning behind your choice to the marketing manager in a meeting to take place in the marketing manager’s office.

  5. CHAPTER 3Food Marketing Series Event • Performance Indicators Evaluated • Explain the concept of economic resources. • Explain the principles of supply and demand. • Discuss the global environment in which businesses operate. • Identify factors affecting a business’s profit. • Demonstrate connections between company actions and results.

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