Wednesday, June 16, 2010
MISSION STATEMENT
Our mission is to create an unexpected drinking experience for our customers that exceeds their drinking needs and encourages them to drink our vodka often! “A statement of the firm’s business based on careful analysis of benefits sought by present and potential customers and analysis of existing and anticipated environmental conditions.”(MKTG, Lamb Hair McDaniel, Pg. 18)
OBJECTIVE
“Without objectives, there is no basis for measuring the success of a, marketing plan activities.”(MKTG, Lamb Hair McDaniel, Pg. 18) Our objective is to change the way people think about vodka. We want people to expect more when they drink of vodka. We want our customers to find paradise in every bottle! So by changing the taste, color and smell, we hope to change their thoughts on vodka. We want people to look at our vodka as a luxury not a commodity! To achieve 10 percent returned investment with in the first 12 months of distribution of product. Pay back any investments within the two years. Our objective is to have a 95-100 percent satisfaction rate on our product. “The idea that the social and economic justification for an organization’s existence is the satisfaction of the customers wants and needs; while meeting organizational objectives.” (MKTG, Lamb Hair McDaniel, Pg. 5) Producing an environmentally ethical name for the company, by making our bottle 100 percent recyclable. “Social responsibility and ethics go hand and hand.”(MKTG, Lamb Hair McDaniel, Pg. 30) Have a U.S. based destitution center; manufacture the product only in the USA. Having a large scale of out of country buyers. Having a 15 percent increase on Internet sales. “Researchers suggest that consumers recall online commercials 60- 90 percent of the time, while they remember roughly about 25 percent of the advertisements on television.”(MKTG, Lamb Hair McDaniel, Pg. 239)
SWOT
Strength: The strength Paradise vodka has is there’s no other vodka like this. The guava flavor to the vodka is unique. The hint of flower smell to the vodka doesn’t over power the vodka but intensifies your drinking experience. The pink color to the vodka will take you out of this world. Put you in a paradise state of mind! Also this vodka has a different making process. This vodka is made like wine more than vodka. So this unique making process will have a strong following from both vodka and wine drinkers. Paradise vodka will also be able to have a wider range of customers because it’s made like wine, but taste like vodka. Our bottles are 100 percent recyclable. “Duping may occur as a result of exporter business strategies.”(MKTG, Lamb Hair McDaniel, Pg. 60) Since Paradise vodka is produced in the United States there will be no dumping,
Weakness: The weakness is that this is not the only premium vodka sold. They are many different flavored vodka’s sold in stores; especially fruit flavored vodka’s. This is a new product, so there is always the worry of customers not liking the brand! Or that customer will not take to guava flavor because it’s not a traditional flavor. Also since the target market is woman; if their needs over wants desire effects there purchase. “A want exists when someone has an unfilled need and has determine that a particular good or service will satisfy it.”(MKTG, Lamb Hair McDaniel, Pg. 64)
External Opportunities: “When examining external opportunities and threats marketing managers must analyze aspects of the marketing environment.”(MKTG, Lamb Hair McDaniel, Pg. 19)The external opportunities for Paradise vodka vary throw out the world. There are more opportunities to expand with a vodka, because the market is so huge.“ Reliabliability: is defined as: The ability to perform a service dependable, accurately and consistently.”(MKTG, Lamb Hair McDaniel, Pg. 161)
Threats: This is a new product, just like any new product; this will also encounter problems. Paradise Vodka may encounter is that people may not like the Guava Flavor. Or even people maybe hesitant with this flavor. Not many people know what the guava fruit is. So this is where the company might have some threats to the success of the brand. The smell of the vodka may a make or brake the brand. People may think that the great smell of vodka that everyone loves will be compromised by the hint of floral sent. The pink color of the vodka may limit to only woman. Customer, so are men dema-graphic may not like that it’s not a gender-neutral color. In the end men may not drink the vodka just because the color. There will not be coupons available for Paradise Vodka. We do not want to compromise the name. “Almost 280 million coupons are distributed to the United States household annually, but this does not include the billions of coupons that are available increasingly on the Internet and in-store.” (MKTG, Lamb Hair McDaniel, Pg. 246)
TARGET MARKET
The target market is the classy, safictacted woman. The woman that will buy Paradise vodka; love tropical alcoholic beverages, they love the fruity tastes. This product is made for the woman who knows who she is! This vodka is made for the strong, independent, beautiful woman. Who prefers to have the sweet classy tasting drink with everything. From any walk of life these woman come from: the vacationers, islanders, clubbers, city lovers, subarea to the country. An upper class drink for an upper class woman! “80 percent of a company’s revenue is generated by 20 percent of its customers.” (MKTG, Lamb Hair McDaniel, Pg. 299)
Product
“ A product may be defined as everything, both favorable and unfavorable, that a person receives in an exchange.”(MKTG, Lamb Hair McDaniel, Pg. 131) We want our product to be a favorable product. That is why we will have a guarantee on Paradise Vodka. If the consumer is not 100% satisfied, they will receive a full refund. “ A person who buys a new product never before used may ultimately become an adopter, a consumer who was happy enough with his or her trial experience with s product to use it again. (MKTG, Lamb Hair McDaniel, Pg. 152) We are so confident on our long lasting and satisfying taste; we have the confidence in having this guarantee.
Promotion
“The current trend is towards using more rather than fewer variables to segment most markets. ” (MKTG, Lamb Hair McDaniel, Pg. 98) So when it comes to the promotion of Paradise vodka there will be no setbacks. We will promote everywhere across the United States. We will use all of the social networks like: facebook, twitter, and myspace. Also like to have an advertisement in several magazines. Billboards. There will be no rewards programs, coupons, and sales; this will only hurt the bran name. Paradise vodka is a higher quality drink and we do not want to take away from that. “ Sales promotion’s greatest strength is in creating strong desire and purchase intent.” (MKTG, Lamb Hair McDaniel, Pg. 220)
Distribution
“ The marketing of goods and services to individual and organizes for propose other than personal consumption.”(MKTG, Lamb Hair McDaniel, Pg. 83) Paradise vodka will be produced in the United States. With warehouses all over. We will not have any out of country distribution, we will send product over to other countries. “ The marketing of goods and services to individual and organizes for propose other than personal consumption.”(MKTG, Lamb Hair McDaniel, Pg. 83) “ Products that are more complex, customized and expensive tend to benefit from shorter and more direct market channels. These types of products sell better through a direct sale force.”(MKTG, Lamb Hair McDaniel, Pg. 180)
Price
“Trying to set the right price is one of the most stressful and pressure-filled tasks of the marketing manager.”(MKTG, Lamb Hair McDaniel, Pg. 261)A 1.75 liter bottle of Paradise Vodka is around $85, 750 ml bottle around $55. You can also get a 350 ml for around $35. ” Prices often fall during a recession as competitors try desperately to maintain demand for their wares.”(MKTG, Lamb Hair McDaniel, Pg. 290)
Implemental Evaluation control
“ Evaluation entails gauging the extent to which marketing objective have been achieved during the specified time period.”(MKTG, Lamb Hair McDaniel, Pg. 26) The way I will do an Evaluation , by doing constant surveys. Surveys will be from customers and retailers. Going directly to the source will be the best thing to do!
Wednesday, June 9, 2010
Social meadia
How can you use social media to support and protect your brand?
Social media is becoming a bigger and bigger social influence every day. There is no longer face-to-face conversation. Social media is now the newest form of socializing between youth. There are approximately 400 million facebook users. That means approximately 280 million of them value the expressed opinions of people they don’t even know.( Juan Martinez).This is just facebook, this does not include the several other social networking site that people take a daily involvement in everyday! People don’t even have to be at home anymore to access these social networking sites. They have gone mobile; anyone can access them from a cell phone. This can put you on your way to success or kill your brand. These social networking sites can support your brand in promotions and followings. These sites are free and you have access to over millions of people. These sites offer you free promotions for your brand. This can save you tons of money; if you use these sites to the full potential. You can have your own page for your brand and advertise like heck. This is one way these site can support your brand! Your customer can follow your product on these sites. When you are offering deals, sales, coupons, and introduction to a new product these sites are, the easiest way for your customer to access this information. These can also protect your brand. By having such a strong following you can have support. Also if you start having bad publicity or a misunderstanding; you can protect your brand by commenting or posting the real story. If anyone has any questions they can go to the source. Some people now view these sites as a need to the brand success. I think these sites can only help you if you use them properly!
Social media is becoming a bigger and bigger social influence every day. There is no longer face-to-face conversation. Social media is now the newest form of socializing between youth. There are approximately 400 million facebook users. That means approximately 280 million of them value the expressed opinions of people they don’t even know.( Juan Martinez).This is just facebook, this does not include the several other social networking site that people take a daily involvement in everyday! People don’t even have to be at home anymore to access these social networking sites. They have gone mobile; anyone can access them from a cell phone. This can put you on your way to success or kill your brand. These social networking sites can support your brand in promotions and followings. These sites are free and you have access to over millions of people. These sites offer you free promotions for your brand. This can save you tons of money; if you use these sites to the full potential. You can have your own page for your brand and advertise like heck. This is one way these site can support your brand! Your customer can follow your product on these sites. When you are offering deals, sales, coupons, and introduction to a new product these sites are, the easiest way for your customer to access this information. These can also protect your brand. By having such a strong following you can have support. Also if you start having bad publicity or a misunderstanding; you can protect your brand by commenting or posting the real story. If anyone has any questions they can go to the source. Some people now view these sites as a need to the brand success. I think these sites can only help you if you use them properly!
Tuesday, June 8, 2010
19 quotes from the text book
19 quotes
1. When an organization creates a high level of employee’s satisfaction, this lead s to greater effort, which leads to higher- quality goods and services, which leads to more repeat business, which leads higher growth and profits, which leads to higher stock- holder satisfaction, which leads to more investments and so on.
2. There is no single correct format for a marketing plan. Many organizations have their own distinctive format or terminology for creating their own marketing plan.
3. Another view is business should focus on marketing a profit and leave social and environmental problems to non-profit organizations and government.
4. Effective way for a firm to move into the global arena with relatively little risk is to sell a license to manufacture its products to someone in a forge country.
5. Coors encouraged its English customer’s to speaking customers to, “turn it loose, ” but the phrase in Spanish means, “Suffer from diarrhea.”
6. Why would customers pay a distributor’s markups when they could buy directly from the manufacture with a few mouse clicks?
7. Baby boomers represent a tremendous current and future marketing potential for a wide range of products including retirement properties, health and wellness products, automobiles with features designed for them, and other goods and services you might not expect, including tech services.
8. The specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making process.
9. Diamond companies and jewelers are, “repositioning” diamond ring so that woman will not think of them solely as a symbol as engagement and marriage. Instead they are, encouraging woman to express their individually by purchasing a “right-hand” ring.
10. The average fast-moving consumer goods company introduces 70-80 new products per year.
11. In many service industries, the core service becomes a commodity as competition increases. Thus, a firm usually emphasizes supplementary services to create a completive advantage.
12. The reversal flow of demand from a “push” to a “pull” has resulted in a radical reformulation of both market experience and traditional marketing, production, and distribution functions.
13. Retailers ring up over $4 trillion in sales annually, about 40 percent of the gross domestic product.
14. Few goods or services, no matter how well developed, priced or distribution, can survive in the market place with- out effective promotions.
15. A quick test to determine whether you are offering attributes or benefits in your advertising is to ask ‘ so?’
16. Advertising offers the consumer a reason to buy; sales promotion offers an incentive to buy.
17. Trying to set the right price is one of the most stressful and pressure- filled tasks of the marketing manager.
18. All pricing objective have trade-offs that managers must weigh. A profit maximization objective that may require a bigger initial investment than the firm can commit or wants to commit to.
19. CRM is often described as a closed- loop system that builds a relationships with customers.
1. When an organization creates a high level of employee’s satisfaction, this lead s to greater effort, which leads to higher- quality goods and services, which leads to more repeat business, which leads higher growth and profits, which leads to higher stock- holder satisfaction, which leads to more investments and so on.
2. There is no single correct format for a marketing plan. Many organizations have their own distinctive format or terminology for creating their own marketing plan.
3. Another view is business should focus on marketing a profit and leave social and environmental problems to non-profit organizations and government.
4. Effective way for a firm to move into the global arena with relatively little risk is to sell a license to manufacture its products to someone in a forge country.
5. Coors encouraged its English customer’s to speaking customers to, “turn it loose, ” but the phrase in Spanish means, “Suffer from diarrhea.”
6. Why would customers pay a distributor’s markups when they could buy directly from the manufacture with a few mouse clicks?
7. Baby boomers represent a tremendous current and future marketing potential for a wide range of products including retirement properties, health and wellness products, automobiles with features designed for them, and other goods and services you might not expect, including tech services.
8. The specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making process.
9. Diamond companies and jewelers are, “repositioning” diamond ring so that woman will not think of them solely as a symbol as engagement and marriage. Instead they are, encouraging woman to express their individually by purchasing a “right-hand” ring.
10. The average fast-moving consumer goods company introduces 70-80 new products per year.
11. In many service industries, the core service becomes a commodity as competition increases. Thus, a firm usually emphasizes supplementary services to create a completive advantage.
12. The reversal flow of demand from a “push” to a “pull” has resulted in a radical reformulation of both market experience and traditional marketing, production, and distribution functions.
13. Retailers ring up over $4 trillion in sales annually, about 40 percent of the gross domestic product.
14. Few goods or services, no matter how well developed, priced or distribution, can survive in the market place with- out effective promotions.
15. A quick test to determine whether you are offering attributes or benefits in your advertising is to ask ‘ so?’
16. Advertising offers the consumer a reason to buy; sales promotion offers an incentive to buy.
17. Trying to set the right price is one of the most stressful and pressure- filled tasks of the marketing manager.
18. All pricing objective have trade-offs that managers must weigh. A profit maximization objective that may require a bigger initial investment than the firm can commit or wants to commit to.
19. CRM is often described as a closed- loop system that builds a relationships with customers.
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