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Business - Essay Example

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Although for many years this company was best known for producing sugar, this product in 2009 only accounted for about one-fifth of the companys…
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Business

This paper briefly analyses the possible consequences for Tate & Lyle having a major product like Granulated white sugar in the growth stage of its product life cycle and the case for and against Tate & Lyle deciding to sell its sugar under the Fair-trade label.
During the growth stages of a product, the product manufacturers should focus more on devising specific strategies for maintaining the growth. During this stage; “more competitors will enter the market, companies increase the number of product offerings in order to differentiate themselves from competitors, the prices may begin to fall and the emphasis may shift from moderate to heavy advertising and promotion activities”(Planning: Middle Growth Stage, 2010). Tate & Lyle’s product Granulated white sugar is in the growth stage of its product life cycle and hence it may severe completion from the market as more and more competitors may enter the market for reaping the profit. It is difficult for Tate & Lyle to sell their product for a higher price even though the sales volume and public awareness may increase.
Tate & Lyle needs to elaborate their distribution or logistics channels in order to reach more remote customers during the growth stage of their product, Granulated white sugar. Moreover, the expenditure for promotional activities and advertising should be increased in order to tackle the efforts of competitors. Even though the sales of Granulated white sugar may increase during the growth stage, the expenditure for maintaining the growth phase would be more than any other stages of the entire life cycle of the product.
Fair Trade is an internationally-recognised approach to trading which aims to ensure that producers in poor countries get a fair deal. A fair deal includes a fair price for goods and services, decent working conditions, and a commitment from ... Read More
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