Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts
Wednesday, November 21, 2012
Implementation Evaluation Control
"Investigation and evaluation steps should be built into your marketing plan to measure the effectiveness of your implementation. Evaluation is based on specific targets or aims as elsewhere. For example, performance may be evaluated in terms of the number of sales calls made or new accounts started."
http://toolboxes.flexiblelearning.net.au/demosites/series5/504/content/04_promote_biz/01_marketingplanning/07_impevalctrl/page_001.htm
"Methods for controlling the marketing plan: measuring income/expenditure budgets (performance), performance appraisal evaluation (i.e. staff), variance analysis, budgetary control, benchmarking, marketing mix effectiveness, competitor performance." http://prmarketingcommunication.com/2011/12/13/marketing-planning-implementation-and-control/
This product is specifically aimed towards adults that like to have a few drinks and have fun. We hope to attract to the Hispanic community and then expand to all other ethnicities. Our income will be measured based on sales and our budget will probably be about $1.50 to make so that we are able to gain profit. We will take in account our competitors performances by doing research on sales and by keeping a good relationship with them. We will look at sales increases and decreases, and look for reviews so that we will be able to make our customers more satisfied and give them the experience they deserve.
Price
"Value-based pricing reverses this process. The company first assesses customer needs and value perceptions. It then sets its target price based on customer perceptions of value. The targeted value and price drive decisions about what costs can be incurred and the resulting product design. As a result, pricing begins with analyzing consumer needs and value perceptions, and price is set to match consumers’ perceived value." (Marketing: An Introduction for Education Management Corporation, Pg 276)
Price is the amount of money customers must pay to obtain the product.(Marketing: An Introduction for Education Management Corporation, Pg 54)
The price for this product at a grocery store would probably be around $2.48. I chose this price because it is about the typical price of a bag of chips that a person will buy at the grocery store. Personally I usually would not pay more than $4 to $5 on a bag of chips. So I decided to put it at $2.48 instead of $3.48 because the chips that are usually marked at that price are big brands like Doritos and Lays. I feel that if I mark this product at a price a little lower than those brands, then it could draw people into saying "Hey those sound good and its a flavor combination that I haven't heard of before."
The price for this product at a bar or nightclub will be around $4 to $6. I chose this price because people that are typically at the bar are those that are okay with spending a bit more money, plus things at bars are usually more expensive than in stores.
The people that shop at grocery stores are those that are looking for great deals and don't want to spend money on something they don't feel is worth it. People that buy at bars are people that are just looking for a great time and will buy just about anything at what ever cost to have that time.
Price is the amount of money customers must pay to obtain the product.(Marketing: An Introduction for Education Management Corporation, Pg 54)
The price for this product at a grocery store would probably be around $2.48. I chose this price because it is about the typical price of a bag of chips that a person will buy at the grocery store. Personally I usually would not pay more than $4 to $5 on a bag of chips. So I decided to put it at $2.48 instead of $3.48 because the chips that are usually marked at that price are big brands like Doritos and Lays. I feel that if I mark this product at a price a little lower than those brands, then it could draw people into saying "Hey those sound good and its a flavor combination that I haven't heard of before."
The price for this product at a bar or nightclub will be around $4 to $6. I chose this price because people that are typically at the bar are those that are okay with spending a bit more money, plus things at bars are usually more expensive than in stores.
The people that shop at grocery stores are those that are looking for great deals and don't want to spend money on something they don't feel is worth it. People that buy at bars are people that are just looking for a great time and will buy just about anything at what ever cost to have that time.
Distribution
"To make products available in the right place at the right time in the right quantities
Distribution is achieved by using one or more distribution channels, including:
"all the organisations through which a product must pass between its point of production and consumption" http://www.tutor2u.net/business/marketing/distribution_introduction.asp
We will distribute this product through retailers such as grocery stores, liquor stores, and gas stations and we will also sell directly at bars and nightclubs. At the grocery stores this product will be sold in much larger bags. This is because many people that are buying from a grocery store are usually buying for multiple people, for parties and sports nights. At bars and nightclubs this product will be sold in smaller portions, because when you are at those kind of places you don't really want to be carrying a big bag around. Plus the product is at easy access, so if you run out and you are still hungry you are able to just purchase more.
Distribution is achieved by using one or more distribution channels, including:
- Retailers
- Distributors / Sales Agents
- Direct (e.g. via e-commerce)
- Wholesalers
"all the organisations through which a product must pass between its point of production and consumption" http://www.tutor2u.net/business/marketing/distribution_introduction.asp
We will distribute this product through retailers such as grocery stores, liquor stores, and gas stations and we will also sell directly at bars and nightclubs. At the grocery stores this product will be sold in much larger bags. This is because many people that are buying from a grocery store are usually buying for multiple people, for parties and sports nights. At bars and nightclubs this product will be sold in smaller portions, because when you are at those kind of places you don't really want to be carrying a big bag around. Plus the product is at easy access, so if you run out and you are still hungry you are able to just purchase more.
Promotion
Promotion means activities that communicate the merits of the product and persuade target customers to buy it. (Marketing: An Introduction for Education Management Corporation, Pg. 54)
I would promote this product in three ways: advertisements, give out samples at grocery stores, and have bowls of this product all around the bar. I feel that these ways of promotion will help get the word out about this product. Advertisements are a great way to reach a variety of potential customers, because the majority of adults watch TV. Giving out samples is also a great way especially inside of a grocery store because many people are hesitant to buy new products. So by giving out samples it exposes the product to the people and the people to the product. If a customer is able to taste the product before hand and for free then they are able to decide if they like it or not. This benefits both the company and the customers.Putting out bowls of this product around the bar can help, because it draws people in. People don't just want to drink they want to be able to snack on some food too. It's all about the experience, this isn't just a ordinary snack food it's an adventure in a bag.
The advertisement will be based on the adventure that Phileas went on to discover these amazing flavors. Here are just a few drawing of some of the scenes within the commercial.
I would promote this product in three ways: advertisements, give out samples at grocery stores, and have bowls of this product all around the bar. I feel that these ways of promotion will help get the word out about this product. Advertisements are a great way to reach a variety of potential customers, because the majority of adults watch TV. Giving out samples is also a great way especially inside of a grocery store because many people are hesitant to buy new products. So by giving out samples it exposes the product to the people and the people to the product. If a customer is able to taste the product before hand and for free then they are able to decide if they like it or not. This benefits both the company and the customers.Putting out bowls of this product around the bar can help, because it draws people in. People don't just want to drink they want to be able to snack on some food too. It's all about the experience, this isn't just a ordinary snack food it's an adventure in a bag.
The advertisement will be based on the adventure that Phileas went on to discover these amazing flavors. Here are just a few drawing of some of the scenes within the commercial.
Product
"Product means the goods-and-services combination the company offers to the target market." (Marketing: An Introduction for Education Management Corporation, Pg. 54)
I have created an amazing salty and spicy snack that will go great with alcoholic beverages. It is a chorizo, paprika and sherry vinegar flavored tapas (chip). What is a tapas you may ask, well I was thinking the same thing while traveling through Madrid, Spain. Tapas is like finger food, bite-sized, or an h'orderve,it also means "cover" in Spanish. Chorizo is a salty and flavorful meat that is very common all around Spain. Paprika is a spice that is used to give a dish color and flavor. It is made from ground, dried fruits of Capsisumannuum, which are usually bell peppers or chili peppers. Sherry vinegar is a wine vinegar made from sherry. It must be aged for 6 months in American oak, have a minimum of 7 degrees acidity, and can only be aged within the sherry triangle, which is in between the cities of Jerez de la Frontera,Sanlucar de Barrameda, and El Puerto de Santa Maria.This snack offers adventure, mystery, and memories. It will take you on the flavorful journey that Phileas Fogg went on; show you why he chose these amazing flavors and how he came to discover them. This snack will help you to jump start an amazing night. This snack will put a whole new meaning of salty snack foods. Here is what the packaging will look like, and where the Lorem Ipsum is is where the adventure will be placed. I chose these colors because mainly and food idea has the color red in it. I once heard that the color red makes people hungry is I guess that is why many food companies and restaurants use this color and i chose this color to represent the spiciness of the product. Also red is a great color to make your product pop. The other colors i chose were golden yellow, olive green, and cream because I felt that they fit the theme of Spain.
Target Market Strategy
"Marketing is nothing but spreading the word about a product or
service being offered to the final consumer, who will purchase it.
Target marketing would be narrowing down the entire market into
segments, to optimize promotional efforts." http://www.buzzle.com/articles/target-marketing-strategy.html
"The whole concept of target marketing stems down from the fact that
we cannot please everybody! Target market, unlike mass marketing does
not dole out a single product to the entire market. Instead it marks out
a specific range of people to whom the product must be effectively
marketed to. As a marketing professional one needs to identify the
target market correctly and tap as much profit as possible. To identify
the target market one will have to look at the product being
manufactured and sold. Ask a few questions:
▲What does this product do?
▲ Who is it helpful to?
▲ Which regions of the world will accept this product?"
▲What does this product do?
▲ Who is it helpful to?
▲ Which regions of the world will accept this product?"
"Traffic means nothing if it is not targeted, and your job is to find the
community of buyers in your niche that want your product or service." http://www.slideshare.net/JeremyGislason/6-target-marketing-strategies-to-find-your-target-market-and-multiply-your-income
The demographic that this product is aimed towards is adults, ones that like to drink, party, and watch Sunday night football. This product is a combination of salty and a surprise kick of spicy.
The demographic that this product is aimed towards is adults, ones that like to drink, party, and watch Sunday night football. This product is a combination of salty and a surprise kick of spicy.
“Bars often serve salty foods, such as peanuts, chips, and
pretzels, together with alcoholic beverages. This is because salt and alcohol
induce thirst, making you want to drink more. Spicy foods also have the same
effect.
If you skip a meal before going to a party or bar thus could
be in anticipation of the extra calories you will be getting from the alcohol
you will be drinking. An empty stomach will only compound the effects of
alcohol and make you eat more. “ www.fitday.com/fitness-articles/nutrition/healthy-eating/9-reasons-excessive-alcohol-use-is-detrimeental-to-your-diet
This product helps give people more of a variety of what to
eat when they want to have a great time. The regions that will accept this
product would probably be the regions with a large Hispanic population. Since
it has been proven that Hispanics consume more alcohol and from the flavor
profile that I have chosen.
Situation or SWOT Analysis
"SWOT Analysis is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face. Used in a business context, a SWOT Analysis helps you carve a sustainable niche in your market."http://www.mindtools.com/pages/article/newTMC_05.htm
"The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company or business proposition, or any other idea." http://www.businessballs.com/swotanalysisfreetemplate.htm
One of the strengths we have with this new product is that we have combined some very unique flavors that are from Spain. These flavors have not really shown up in grocery stores and we feel that it will expand our customers flavor palette. A weakness that we have is that people that have never tried these flavors may be scared to try our product. An opportunity that we have is that we will be able to gain a wide variety of new customers. A threat that we face is from competitors, they may try to create the same tastes and flavors or come up with a more exotic flavor palette.
"The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company or business proposition, or any other idea." http://www.businessballs.com/swotanalysisfreetemplate.htm
One of the strengths we have with this new product is that we have combined some very unique flavors that are from Spain. These flavors have not really shown up in grocery stores and we feel that it will expand our customers flavor palette. A weakness that we have is that people that have never tried these flavors may be scared to try our product. An opportunity that we have is that we will be able to gain a wide variety of new customers. A threat that we face is from competitors, they may try to create the same tastes and flavors or come up with a more exotic flavor palette.
Objectives
"Marketing objectives are about products and marketing only! For example ‘To increase sales of existing products into new markets by December 2011’." http://prmarketingcommunication.com/2011/12/13/marketing-planning-implementation-and-control/
"Marketing objectives define what you want to accomplish through your marketing activities. When setting objectives it is very important to ensure that your objectives are; specific, measurable, achievable, realistic and time specific, or SMART for short. The "SMART" approach allows you to effectively manage your marketing activities and importantly be able to determine how successful they have been and whether they have delivered the particular benefits sought." http://toolkit.smallbiz.nsw.gov.au/part/1/1/3
Our objective at Phileas Fogg's is to let people experience the amazing voyage that Phileas went on. We want to educate and allow people to take a first hand look into his travels around the world and all the many flavors that are out there. We want to bring memories, mystery, and adventure into each and every single one of our customers. Let them have excitement without having to leaving the county.
"Marketing objectives define what you want to accomplish through your marketing activities. When setting objectives it is very important to ensure that your objectives are; specific, measurable, achievable, realistic and time specific, or SMART for short. The "SMART" approach allows you to effectively manage your marketing activities and importantly be able to determine how successful they have been and whether they have delivered the particular benefits sought." http://toolkit.smallbiz.nsw.gov.au/part/1/1/3
Our objective at Phileas Fogg's is to let people experience the amazing voyage that Phileas went on. We want to educate and allow people to take a first hand look into his travels around the world and all the many flavors that are out there. We want to bring memories, mystery, and adventure into each and every single one of our customers. Let them have excitement without having to leaving the county.
Business Mission Statement
What is a mission statement?
"A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization." (Marketing: An Introduction for Education Management Corporation, Pg. 39)
My Mission Statement:
At Phileas Fogg's we don't just make ordinary snack foods we take you on a journey around the world with our many exotic flavors. We want to give you the experience that you would have if you were actually in that country or city, without ever leaving your own country. We bring to you adventure, mystery, and memories. You will personally feel as if you went on this amazing voyage with Phileas Fogg tasting all of the exotic flavors of the world. Take the 80 day challenge, you won't regret it. Try one of our newest snacks, it is filled with the flavors of Madrid, Spain. You will feel the rush and the despair that Phileas went through to discover this amazing snack just for you.
Wednesday, November 14, 2012
Final Project: Pitch
I have created an amazing salty snack that will go great with alcoholic beverages. It is a chorizo, paprika and sherry vinegar tapas (chip). What is a tapas you may ask, well I was thinking the same thing while traveling through Madrid, Spain. Tapas is like finger food, bite-sized, or an h'orderve, it also means "cover" in Spanish. There are many stories of how tapas was created but long story short, sherry drinkers used to cover their glasses between sips, to prevent fruit flies from getting into their drinks.Then bartenders realized how big of a hit tapas were so they began to make a variety of different tapas and it of course increased their alcohol sales.
Chorizo is a salty and flavorful meat that is very common all around Spain. Paprika is a spice that is used to give a dish color and flavor. It is made from ground, dried fruits of Capsisum annuum, which are usually bell peppers or chili peppers. Sherry vinegar is a wine vinegar made from sherry. It must be aged for 6 months in American oak, have a minimum of 7 degrees acidity, and can only be aged within the sherry triangle, which is in between the cities of Jerez de la Frontera, Sanlucar de Barrameda, and El Puerto de Santa Maria.
Phileas Fogg was on a trip to Barcelona but he found himself in the heart and soul of Spain, Madrid. He got off of the hot air balloon and asked if there was any way to get to Barcelona was but before he could ask, his nose caught this amazing scent, a scent that he had never experienced before. A man with a suit and a red hat was eating it as he got off of a near by balloon and was heading towards a carriage. Phileas, hypnotized by the smell that he forgot what he was doing. He began to follow the man in the red hat. When all of a sudden he ran into a luggage and tripped. He tried to get up as quickly as possible but it wasn't fast enough, he had lost him. He went searching all over Madrid for the same scent but couldn't find it. But through his journey he tried many other foods that he thought were amazing as well such as sherry vinegar and chorizo. He began to grow tired and upset that he spent a whole day in a city that he wasn't even suppose to be in at all. It was 6:30 at night and in the corner of his eye he saw that red hat. He ran and ran, shouting "Hey you stop!" The man in the red hat had a frightened look on his face and ran. Phileas had no idea why he was running away from him for, he just wanted to know what food had that amazing aroma. Water, no where left to go, the man looked back, then jumped on to a jet ski. Phileas jumped on to the ferry that was coming his direction and followed the man again. The man finally jumped off the jet ski into a dark ally and disappeared. Phileas got off and was frustrated at how difficult it was to figure out what the name of that food was. He went into the ally and then all of a sudden the man popped out with a knife to Phileas's neck. He said "Who are you and why are you following me?" Phileas said with a frightened voice "I saw you earlier coming off of a hot air balloon and wanted to know the name of the food you were eating." The man with the red hat looked at him with a puzzled look and said "there are many men after me right now....and if you help me get what I am looking for I will buy you one of those things that I was eating." Phileas of course said no at first thinking the guy was crazy and dangerous, but then realized he had been wasting the whole day searching for that food so he said "Hey why not." It was now 10:00 p.m. and the man in the red hat and Phileas came upon this closed building. The man climbed up the building into a cracked window and went inside. He told Phileas to be a look out in case any company came by. The man came out with this weird device. It was small, circular, and had a blue light. Phileas didn't ask what it was because he didn't want to get even more involved than he already was.The man said a deals a deal and took him to a tapas bar and bought him a tapas. Once Phileas got his tapas the man in the red hat disappeared.
Chorizo is a salty and flavorful meat that is very common all around Spain. Paprika is a spice that is used to give a dish color and flavor. It is made from ground, dried fruits of Capsisum annuum, which are usually bell peppers or chili peppers. Sherry vinegar is a wine vinegar made from sherry. It must be aged for 6 months in American oak, have a minimum of 7 degrees acidity, and can only be aged within the sherry triangle, which is in between the cities of Jerez de la Frontera, Sanlucar de Barrameda, and El Puerto de Santa Maria.
Phileas Fogg was on a trip to Barcelona but he found himself in the heart and soul of Spain, Madrid. He got off of the hot air balloon and asked if there was any way to get to Barcelona was but before he could ask, his nose caught this amazing scent, a scent that he had never experienced before. A man with a suit and a red hat was eating it as he got off of a near by balloon and was heading towards a carriage. Phileas, hypnotized by the smell that he forgot what he was doing. He began to follow the man in the red hat. When all of a sudden he ran into a luggage and tripped. He tried to get up as quickly as possible but it wasn't fast enough, he had lost him. He went searching all over Madrid for the same scent but couldn't find it. But through his journey he tried many other foods that he thought were amazing as well such as sherry vinegar and chorizo. He began to grow tired and upset that he spent a whole day in a city that he wasn't even suppose to be in at all. It was 6:30 at night and in the corner of his eye he saw that red hat. He ran and ran, shouting "Hey you stop!" The man in the red hat had a frightened look on his face and ran. Phileas had no idea why he was running away from him for, he just wanted to know what food had that amazing aroma. Water, no where left to go, the man looked back, then jumped on to a jet ski. Phileas jumped on to the ferry that was coming his direction and followed the man again. The man finally jumped off the jet ski into a dark ally and disappeared. Phileas got off and was frustrated at how difficult it was to figure out what the name of that food was. He went into the ally and then all of a sudden the man popped out with a knife to Phileas's neck. He said "Who are you and why are you following me?" Phileas said with a frightened voice "I saw you earlier coming off of a hot air balloon and wanted to know the name of the food you were eating." The man with the red hat looked at him with a puzzled look and said "there are many men after me right now....and if you help me get what I am looking for I will buy you one of those things that I was eating." Phileas of course said no at first thinking the guy was crazy and dangerous, but then realized he had been wasting the whole day searching for that food so he said "Hey why not." It was now 10:00 p.m. and the man in the red hat and Phileas came upon this closed building. The man climbed up the building into a cracked window and went inside. He told Phileas to be a look out in case any company came by. The man came out with this weird device. It was small, circular, and had a blue light. Phileas didn't ask what it was because he didn't want to get even more involved than he already was.The man said a deals a deal and took him to a tapas bar and bought him a tapas. Once Phileas got his tapas the man in the red hat disappeared.
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