MKT 501 Ashford University Micro Bytes Margins and Sales Paper

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Question Description

My business

Micro Bytes is a restaurant that sells simple and healthy fast snacks to customers at a pocket-friendly price. Micro Bytes focuses on providing healthy meals to customers since unhealthy ones have been known to have adverse effects on a person’s lifestyle like obesity and other related diseases.


Margins & Sales Volume

Different industries have varied benchmarks for margins. For example in restaurants alcohol margins are usually much higher than food margins. In other industries, margins are affected by seasonal demand.

Industry Research and Application

Research your product/service’s industry with regard to mark-ups and contribution margins.

  • Describe the industry
  • Discuss the margins and markups on goods or services
  • Discuss other economic factors that affect the mark-ups
  • What marketing techniques can companies use to support the pricing schemes that support their margins?

Use research from quality graduate-level resources and at least two articles from Trident Library’s full-text databases like (Academic Search Complete, Business Source Complete and/or Proquest Central). Stay away from consultant sites on the internet.

Do not use any quotations. Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person.

Use the attached APA-formatted template (MKT501 Case4) to create your submission.

Assignment Expectations

Your submission will include:

  • A 4- to 5-page paper with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)
  • The reference list page in APA format

Tutor Answer

TutorLarra
School: University of Virginia

Attached.

Running head: STRATEGIC MARKETING MODULE 1 CASE

MARGINS AND SALES
Name
Course
University

1

STRATEGIC MARKETING MODULE 1 CASE

2

Strategic Marketing Module 1 Case
Margins are differences between revenue and the cost of goods or services sold while
markup is the monetary value that players add to the price of a product. This paper describes the
industry of Micro Bytes, the margins, and profits on goods and services, and economic factors
that affect markups. It also discusses the marketing techniques used by companies to support
pricing schemes.
Industry
Micro bytes are in the food industry. This is because of its excellent food processing
whereby it prepares fresh and healthy food products for the market. The food industry involves
the processes of food production, processing, packaging, and distribution. It includes agriculture
which is the process of food production, food manufacturing through the use of agrichemicals,
farm machinery and seeds, food processing, marketing, and wholesale and food distribution,
food service, retailing, regulation, research, and development. Food processing is divided into
four categories: one-off, batch, mass, and just in time production. In one-off production,
customers make an order with their specifications about the product being produced. One-off
creations take a long time in preparation because of the intricate details included by the
customer. For example, a birthday cake may have specific words that are written on top of it (De
Loecker, 2016).
Batch production involves the estimation of consumer demand. It is commonly used
when the size of the market isn't clearly defined and when the prod uct line has a specified range,
for example, the number of pastries in a bakery. Mass production is used when there is a large
defined market for the goods produced. Products move from one stage to another in the
production line like in canned food industries. Just in time production involves the production of

STRATEGIC MARKETING MODULE 1 CASE

3

fo...

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