Wednesday, March 24, 2010

Implementation Evaluation Control

Follow up on the marketing plan is essential to the success of the business. I will oversee and consult with business professionals to analyze the operations from day to day. Making sure the product is delivered as scheduled, quality of the product is consistent, image of the company is portrayed right, and most of all, customers are satisfied. I will make sure that all employees are happy by means of making the work conditions not miserable, and include incentives when and if the product is a hit. "People are a unique aspect of retailing. Most retail sales involve a customer- salesperson relationship, if only briefly...Retail salespeople persuade shoppers to buy. "-pg.207 Hair Lamb McDaniel-MKTG. A lot will depend on the sales location and salespeople, but also the image of the product and company. Keeping satisfied customers is a primary goal because, "Marketing to repeat customers is more profitable than first-time buyers."-pg.301 Hair Lamb McDaniel-MKTG.

Evaluation is the key to maintaining a successful marketing plan. Going through the channels, evaluating as needed to maintain quality and on time delivery are essential. I will include market audits to determine the full profile of the marketing efforts for development and revisions of the marketing plan. Establishing formal and informal control programs will make the entire operation more efficient.

Marketing Mix: Product, Place(distribution), Promotion, Price

"The product is the starting point in creating a marketing mix."-pg.131 Hair Lamb McDaniel-MKTG. Twenty One 42 cologne embraces that motive by using only the finest quality of ingredients around. I believe in quality before quantity, and by selling quality will in turn sell more quantity. From the ingredients to the bottling are all innovative and cutting edge concepts, and with acceptance of the first product, it's success rate, and with after-product market research, we should be able to introduce a product line that reaches out to the customers that were missed by the first product.

Place: Exclusively available at highend department stores, as to not let the place of sale denote it's value. I want our customers to experience class with style, and receive a sense of owning something they cherish and value to the highest degree, not feel ripped off, or taken advantage of.

Promotion: We will promote in-store as with the traditional fragrances on the market, also television ads, magazine ads, billboards, and the internet. Our bottling, for one, will set our product aside all competition on the display rack, creating a buzz by people grazing by. Curiosity from there should relish them into trying the smell, which then, should hook them like a fish, a must grab item.

Price: We are priced to please, as noted, we want to give a sense of value-not too low to where the customer feels cheap, and not to high to compete with those who are price sensitive. I feel around the $75.00 price range accomplishes this. Putting us up there with the best on the market while still being reasonable.

Marketing Strategy

Target Market Strategy

My main target group will be Generation Y-ers, which is 60million strong nationally, and spend nearly 200billion annually. Primarily males, of course, that are single, but I also wish to diversify by grabbing the attention of the same generation but, women who are also single, looking for love, by way of a bed spray. Also, I will target women of the same age range that are in relationships, that just want their husbands or boyfriends to smell good and be hip doing it. This target market puts us at three concentrated targeting markets with potential of skewing over into a couple more, which are the middle-agers, but are not a primary focus. The targeted markets are: "Young single- few financial burdens, Fashion opinion leaders, Recreation oriented, Buy: basic kitchen equipment, basic furniture, cars, equipment for mating game, vacations. Young married divorced without children- Better off financially than they will be in near future, Highest purchase rate and highest average purchase of durables, Buy: cars, refrigerators, stoves, sensible and durable furniture, vacations. Young married or divorced with children- Home purchasing at peak, Liquid assets low, Dissatisfied with financial position and amount of money saved, Interested in new products, Buy: washers, dryers, televisions, baby food, chest rubs, cough medicine, vitamins, dolls, wagons, sleds, skates."-pg.102 Hair Lamb McDaniel-MKTG.

From there, we can segment these groups into smaller groups by way of psychographic segmentation, benefit segmentation, and usage-rate segmentation, narrowing down our target markets even greater, "concentrated targeting violates the old adage 'Don't put all your eggs in one basket."-pg.107 Hair Lamb McDaniel-MKTG so, I plan on concentrating the targets to gain the advantages of focusing on one group, but still having variables to offset the potential threats of targeting just one target market. And also, conducting a market research to evaluate the potentials, because after all, "marketing research is a scientific approach to decision making that maximizes the chance of getting accurate and meaningful results."-pg114 Hair Lamb McDaniel- MKTG.

SWOT Analysis

Identifying the potential strengths, weaknesses, opportunities, and threats, associated with my product, I wish to use the current threat and weakness, which is the ongoing recession that we are experiencing right now as a potential strength. "A recession is an excellent time to build market share because competitors are are struggling to make ends meet."-pg.290 Hair Lamb McDaniel-MKTG . Using it to my advantage on the idea that many people are tired of being down, depriving themselves of their wants just to save money in case of, and the fact of letting themselves fall victim to the mental idea of a failing economy never to rebound. I think, they are ready to engage in a life similar to the one before the recession when life felt more fulfilled, and they didn't have to worry about job cuts and foreclosures. Simply put, they just want to feel happy and acquire the good things in life, which is something that my product endorses. "The world is full of stimuli,"-pg.77 Hair Lamb McDaniel-MKTG, which my goal is to stimulate my customers' minds with the sense of satisfaction and fulfillment. Stimulating women noses will in return stimulate men confidence levels and therefore, stimulating both worlds. Guys feeling good about themselves will tend to forget, or ignore, the negatives that go on in life and throughout the day, and women who go to sleep and awake with good thoughts, will do the same, creating a happy customer which in return, will create a strength, and the potential for a successful business.

Other potential threats, of course, consist of direct competition with other fragrances on the market and the fact that the target market may not accept the cologne in general. I plan to market the fragrance on strictly the idea of pleasure and pure quality. Focusing on obtaining the best fragrance that is pleasing to both men and women, and gaining exposure, acceptance, and desire through innovative aroma, bottling and advertising.

I think there is a need for a breakthrough men's fragrance that socially inspired people can socialize with. There are many women perfumes that come out every year, usually bearing a famous celebrity's stamp on it but, very few men colognes that create a buzz around towns. Using this theory of mine, I plan on using this as an advantage, because after all, younger people always want the newest, latest, and most talked about thing to make them feel like they have a foot up on, and blend in with their social counterparts.

The raw materials are considerably cheap compared to the suggested price, besides the innovative bottling and holder, which increase production costs, but still keeps it at incredible profitable earnings. And having a, "competitive niche advantage"pg.21 Lamb Hair McDaniel-MKTG, such as the holder alone, increases the sales price, which brings more revenue. But, still priced with competitors, giving customers 'value.'; should foster a buzz, and according to Lamb Hair McDaniel-MKTG pg.94, "...increase dealer and consumer acceptance..."

Objectives

To give men opportunity, to make men and women happy, to gain 200% profit before taxes, obtain 30% growth every year, and receive 20% of market share by introduction year, penetrating the global market by year two, and becoming the number-one rated and sought-after male fragrance in America. "Marketing is a process that focuses on delivering value and benefits to customers, not just selling goods, services, or ideas."-pg.3 Lamb Hair McDaniel-MKGT, so, I aim to bring forth opportunity to low confident, single men, looking for that special female to accompany him through life, or just one night. Not to promote sex but, companionship, and through the same principles introduce that special guy to a woman through use of her sense of smell- something like animal attraction. Also, to guys who just want to smell good, and feel good doing it, creating a delightful, 'happy', atmosphere to be in when wearing Twenty One 42.

The name is derived from products of the number seven, and I plan on marketing it that way in advertisements as the luckiest fragrance of them all. I feel as though setting a first year's profit margin at 200% of start-up costs is low compared to the potential of the fragrance market, and by having a such a considerably remarkable product. One sustainable competitive advantage will be the product's bottling, "An advantage that can not be copied by the competition."-pg.21 Lamb Hair McDaniel-MKGT.

Our target market, consisting of those designated by demographics as Generation Y-ers, "are about 60 million strong...plentiful enough to put their own footprints on society...spending nearly $200billion annually,"-pg.35 Lamb Hair McDaniel-MKGT, creating a remarkable market to target, and should generate enough spending toward my product to sustain the projected revenue objective.

Thursday, March 18, 2010

EOC Week 10 Volkswagen Facts

Volkswagen Facts

1. An economy car produced by the German auto maker Volkswagen (VW) from 1938 until 2003.

2. The longest-running and most-produced automobile of a single design.

3. The Beetle car was the benchmark for both generations of American compact cars such as the Chevrolet Corvair, and subcompact cars such as the Chevrolet Vega and Ford Pinto.

4. The Beetle was 13 ft (4.0 m) long and the Mini was only 10 ft (3.0 m).

5. The car was originally known as Käfer, the German word for "beetle"

6. It was not until August 1967 that the Volkswagen corporation itself began using the name "Beetle" in marketing materials in the US.

7. Adolph Hitler wanted a car that the common citizen could afford.

8. Ferdinand Porsche, the creator of the Volkswagen Type 1 (a.k.a. Beetle) was born in 1875 in a small village called Mattersdorf, which is now in Czechoslovakia.

9. 1934 the German government decided to award a contract to Ferdinand Porsche’s company to build Volkswagen prototypes.

10. Means: “people car.”

In episode 3 of MadMen, Volkswagen’s Lemon ad was referred to in a discussion about something completely else, (supposedly a advertisement meeting for another product) regarding the Beetle’s simplistic and inversed ad focusing on the Beetle’s disadvantages compared to its competitors. This ad was aimed at a completely different target market than its previous usual consumer, which sparked up this remarkable fifteen minute rant among the advertisement company’s employees. Creating a buzz about the ad that was featured in Playboy Magazine, it was a hit as an advertisement-simply getting people to talk about it.

Thursday, March 11, 2010

EOC Week 9- $10 Burger

I think for McDonalds to be able to offer a $10 burger on their menu and it be successful, it would have to be totally organic and huge. If they offered an all organic burger, including the condiments and toppings and even bread, they might have a phenomena in the fast-food world. I think there are a lot of health warranted people out there with a big enough budget to support it's survival. I think some people would buy it just to see how a $10 burger tastes, pure curiosity, and just may look at burgers differently and continue to buy them, superiority over other burgers. This could trigger McDonalds into creating a target market of a higher social class. I mean, it's not unheard of someone spending $10 or more for a burger at restaurants, it only would be a challenge because after all, it's McDonalds. So for them to convey the image of a "elegant," if you will, burger, or chopped up cow, they would have to reposition their ads just for the one burger to a more prestigious array of images-completely opposite from the campaigns used for their current products and value meals.

EOC Week 9-Business Mission Statement

To introduce a new brand of men's fragrance, giving greater opportunity to men, making men, and women happy, with an objective of a 200% profit before tax, a 30% per year growth, and 20% of market share by first year of introduction. We will target a customer base of mainly young men and give them the most quality of fragrance and service with after-purchase incentives and discounts through affiliate companies. Our goal is to become the number one rated and sought after men fragrance in America by launch, and with success, option to go global by year two.

Friday, March 5, 2010

EOC Week 8- My USP compared to three others

My USP, in comparison to three other major competitors, is sex, or the idea of gaining an increase of sexual experiences and acquaintanceship with the opposite sex, by using my product. My whole goal is to introduce men to a fragrance that they like, and women adore. And by doing so, I wish to raise men' s confidence levels when being around women, and also, self-admiration by hopefully establishing more compliments when out on the town. Also, I wish to incorporate a bed-spay for females simply by promoting the cologne as such, not changing any part of the product at all, an idea given to me personally from a female. Another thing that will separate my product from others on the market, is simply the bottle that the cologne will come in.-A display on it's own, all glass bottle and holding base, to represent class, a satin-resembling, pillow shaped, black top, stainless-steel trim along base of cologne bottle holder, representing leading edge modernness, and two LED lights inside the base, one emitting red, (sex), and other emitting blue, (relax), onto the fragrance bottle itself, as if it were a celebrity on stage, in the spot light. One last feature of the bottle holder is to become a oil fragrance holder, (aimed at women) for when the cologne is all gone, and two sticks to accompany for use of aroma dispensing. The fragrance will exclusively be sold at premier department stores, such as Macy's, and Nordstroms, being priced around $75.00, to give customers a sense of value, uniqueness, and exquisiteness.

Thursday, February 25, 2010

EOC Week 7-Pitch

"Twenty One 42," for her bed - A real man's fragrance. Inspired by the scent left behind on her bed from the exclusive, erotic, intimate night before. As she acquires the aroma propelled from her sheets, she can only embrace one thing from her memoir...him. The cologne is a light eau de toillette with a blend of oriental mixes of spices, amber, rich, musky, and citrus traits. Light enough so it doesn't annoy him or nearby-ers, but powerful enough so she can notice it from a close distance. In-between, I would say, of close and bold fragrances. Hoping to introduce a line for her, by way of a bed-spray, and traditional promotion for him as a cologne. Twenty One 42, represents the new male fragrance for the twenty-first century, inspiring young men to go out and get the girl of his dreams and grab attention of all noses along the way. Also, encompassing women alike to wish for a man of stature as she lays in her bed and fantasize of the one she can call hers, endeavoring among the streets when out around town, graciously searching for that familiar scent who bears her male counterpart, soon to be the physical remedy to her every need. The fragrance is about class, defiance, and confidence. Bottled in a see through glass case, with a top made to look like black satin, resembling a pillow, and a square-shaped holder made of all glass that the bottle rests in- with two tiny LED lights emitting from counter-corner of the base, on to the bottle of fragrance as if it was a celebrity on stage, in the spot light. Twenty One 42, inspired by woman, admired by men.

Thursday, February 18, 2010

EOC Week 6 Campbell’s Soup

My ultimate favorite type of soup would have to be Campbell’s Chicken Noodle Soup mixed with either Campbell’s Cream of Chicken or Cream of Mushroom, or sometimes both. Since a child growing up my grandmother used to make this for all her grand children and she had her own recipe where she added other ingredients to it. So I guess every time I have a spoon-full of it, it brings me back to home and at stressed times, it comforts me. Also it tends to warm my body from the inside out on those frosty winter days and is a quick alternative to a meal when I’m rushing to have something to eat. I truly can say that I have never had chicken noodle soup as good as my granny’s recipe. I try to duplicate her way of making it, but it’s something about hers that just can’t be copied-guess it’s the granny’s touch!

Thinking of a great soup that would compliment Campbell’s condensed product line; I would have to say, Oxtail Soup. I think it would be a great new extension because there are so many people in this world who prefer, or by religion choose, beef over other meats. It is also a widely used soup in many cultures, but at the same time a unique food in many other countries. I love oxtail soup because the meat itself has a distinct flavor, and when mixing it with vegetables it is just mm…mm…marvelous; plus very nutritious.

Thursday, February 11, 2010

EOC week 5 Super Bowl Commercial

Out of all of this year’s Super Bowl ads, the Doritos ad with the kid slapping his mom’s date was my most memorable. There were a few other commercials that were good, but this one just came out of nowhere and grabbed my attention by being, well how else can I say it, but…shocking. It gained notoriety in my book by being surpassing hilarious. It started out as being just another one of those happy-go-lucky, cheerful commercials of a guy taking out a beautiful date, but I knew something was to come of it because after all it was the Super Bowl, so I just sat there and kept looking, not much is suspense, but curious. I wondered what was up when she asked the guy to sit and wait, (I’m thinking how typical) because she wasn’t ready, introduced him to her son and said it would only take a minute. Well as he, (her date) keened his eyes on her behind as she walked out the room…SMACK!!!, came the little boy’s hand right across his face as he said, “two things you don’t touch, my momma and my Doritos”- hysterical. I think I will always remember that commercial and in my opinion the best one this year for the class of humor. I must say that describing which segment they were targeting is pretty hard, but if I must, I would say I think it was marketed for the younger generation, single households definitely, and to each of the genders. I think the age range diversified from elementary kids with their parent’s income to I’d say, 40 year olds, but because of its humor, it could have been for anyone- although some might have taken it into offense.

Thursday, February 4, 2010

EOC week 4 Mad Men

I think Mad Men really hit the spot on shedding light on the advertising world in the sexest and racist days of the 60's. Regardless of the personal judgements depicted, I think it truly gives an accurate eye on what goes on in the marketing/advertising firms. As a student in marketing, I can learn alot on just the views and ideas of the managers and get an edge as to what companies like and dislike when they decide on what type of campaigns to run and also how they want to be percieved by their customers and general public. For my first time watching it, I liked it and would what another, if not more episodes.

EOC week 4 Favorite SuperBowl Ad

The 1995 Pepsi SuperBowl commercial of the little boy in the inner-tube would have to be one of my favorites, for that year definitely, and for most of the others. It features a boy, (elementary age) sitting in an inner-tube, drinking a Pepsi out of a bottle, with a straw on a beach. He then finishes sucking down all the Pepsi until all is gone except for a couple of drops, trying to accomplish finishing off every single drop, he continues sucking until he eventually sucks himself into the bottle.....hysterically funny and clever! I don't exactly remember what Pepsi's longtime arch rival and competitor Coca Cola did that year, but that's my point, I don't REMEMBER! I do on the other hand remember this one, and it sparked off that year's successful ad campaign for Pepsi with a follow-up series of resembling "sucked-up" themes. Congrats Pepsi, for again a great ad. Truly one of my most memorable and commendable commercials of all time.

Thursday, January 28, 2010

EOC week 3 – Great Customer Service

My experience with great customer service will have to be the time that I found a torn up hundred-dollar bill in the street. It was only half of the whole bill so I thought that it could not be used and was considering just leaving it there, or discarding it after I had picked it up. Well, I ended up taking it home and thought about just keeping it as a memoir of some sort, but at the time, (I was around 13 and living with my grandparents) my grandma told me that it was a good possibility that I could get a new bill that I could spend if I sent it to the US Mint. So I grabbed a plain white envelope, searched for the Mint’s address out of the phone book, labeled it with their mailing address and my return address, licked a stamp, threw it on there and dropped it into the mailbox. I really only expected to receive the same torn, half hundred-dollar bill that I had sent off, probably with a little note explaining how sorry they were for not being able to exchange my poor torn bill for a nice new, crisp one, that of course I could spend anywhere in the world, but they didn’t. To my amazing surprise, they sent me a brand new, crisp hundred-dollar bill, the one that I had been imagining for like two weeks. It only took about two weeks for me to receive it including shipping time, I couldn’t believe it. I thought it would have taken at least a month or more and I would have had to call, or keep calling and give them all sorts of info like the serial number and date I had sent it, but I didn’t, and to add to it, they even sent me a little paper bill holder that encased the note…awesome service, Treasury!

Thursday, January 21, 2010

EOC week 2 – My demographic

As a Generation Yer, I feel that the tendencies expressed by researchers on my behalf, are dead on. I must admit that being described as impatient is not the word. I am so impatient that I would rather do something dangerous and crazy to avoid waiting. Spending money on electronics is a major purchasing concern for me…I have to have the latest and advanced gadget out there; I don’t see how my grandparents kept those TV’s and radio for so long! I do tend to want to know why things work the way they do, not so much to the exact specs, but I have to have some insight on the schematics. I am family oriented-but of the new school…believing in family murals and values but not so much on that marriage thing, so maybe not that traditional. I also have to have a nice luxury car, but will never buy brand new, (why pay more when you can wait?) And now looking for that great place of mortar that I can call home, so I guess I’m entering my money making years, (thank God) where I can raise a tribe to continue the legacy I’m starting to build.

EOC week 2 - Favorite fast food

My favorite fast-food as a kid growing up in Mid-West America would have to be the Happy Meal at McDonalds. It really didn’t matter which one, either the cheese-burger, or nuggets, as long as I got a chance to see which cool new toy was available for me. But, I must say, I did have to eat, and man, did that little arch-handled box smell good. Good enough for me, (for a second anyway) to forget about that little toy and focus on dipping those little nuggets in the specially packaged barbeque, or sweet-n-sour sauce, or sinking my teeth in that absolutely delicious cheese burger. Of course, (with either choice of burger or nuggets) I had to devour the best French-fries ever made on Earth that complimented the meal. So great of a marketing plan, toy and food for a kid; it even came with a drink to wash down all that delicious food.

EOC

I am currently a digital film and television production technician with experience in corporate commercials, television production, public announcements, film production, web streams and music videos. On a mission to build a name brand, and make a footprint in the professional motion media industry. I am very knowledgeable with editing software, lighting equipment, camera equipment, working with people and making deadlines. I plan on one day becoming a major studio producer and director with hopes of one day making a blockbuster indie film. My drive force is impeccable, motivated by self and self starting. Every day for me provides a new opportunity to embrace the world’s creative fields and produce something that will outlast my time on this Earth, which hopefully in turn, will have a pleasant and meaningful impact on other people’s lives. My heart is in what I do, reflecting in my work and representing the image that clients wish to display to represent their business. Gifted with the ability to set trends and make waves, I also tend to have an ear for listening to what the client wants, not just making suggestions for my own personal preferences, controlling the output and quality of the consumer’s project. Quality is the key with me, always striving to achieve excellence and learning from my past experiences.