Week 9: EOC Three great mission statements

A mission statement is important for any company. The reason that it is is because that's where you gain the connect between your product and your potential customers. Customers don't want to feel like customers they want to feel that you are serving them and that you are making your product because you care about their well being. The following mission statements I found for the final project to well delivered and great missions:




"Letting a Woman Feel Like a Woman"


"Fizz Vodka aims to create an all new American made drinking experience that is sure to be the life of any party."


What I liked about both of these mission statements is they made the connection between product to customer. No one wants to be told to buy a product because it will save them money. They want to be sold a product because that product was made for them. Whether you want to "feel like a woman" or be the "life of the party" you can find a vodka that is personalized to you.


The following mission statement has potential but still needs work:


"CANDY STRIPER is dedicated to providing quality tasting vodka without sacrificing the value of your dollar. With a peppermint infusion of flavor to enrich and tingle your taste buds, rather than overwhelm them, CANDY STRIPER is sure to strengthen your holiday spirit, but not break it -- or your wallet."


They did a great job of describing the product to make it sound like you should want this product because it will get you into the holiday spirit. But they mention money twice within the mission statement. As I mention you do not want to influence your customers by cost. "Mission statements should be market oriented and defined in terms of satisfying basic customer needs." (Marketing An Introduction, 40) No one needs vodka so you have to focus on why you should want vodka other than the cheap price. 

Week 9: BOC Cyber Monday

This may be my favorite shopping day of the year. Most like to think that Black Friday is the day to shop but those amateurs are mistaken. On the Monday after Black Friday is the amazing day of Cyber Monday. The one day of the year where almost all businesses with an online store produce deals on theirs products. This day is great for a photographer because most of the equipment we need can be found more available online. To be a photographer you need a camera and "the eye" for photography. To be a GREAT photographer you need a little more. Lens are a photographers best friend. Sure we can see what will make a great picture but a lens is what makes a moment come to life in 2D form. This Cyber Monday I've been researching a new lens that I have been looking at for a couple of years. 

Canon EF 70-200mm f/2.8L II IS USM Telephoto Zoom Lens for Canon SLR Cameras

 

List Price: $4,000

Amazon Cyber Monday Price: $2,074.00

This telephoto lens is not only an amazing telephoto lens that makes getting pictures from far away look amazing it also works as a great portrait lens.  My photography business specializes in portrait photography, having this lens would increase my abilities in my portraits. With the ability to take a portrait with a longer focal length is a great way to make my photography more creative and pleasing to others. Since this is an "L series" lens I want to add this to my collection of lens now that I have been able to establish my business and have gained repeating customers.

This is a great deal because as you can see being a photography is another expensive career. We try to save money where ever we can. Being able to save almost $2,000 is a great way to obtain a much needed lens!

Final Project: Implementation Evaluation Control

Slender Vodka implementation is set for beginning of 2013. A projected budget of $150,000 will be needed in order to create the product, design and produce packaging, and to start the promotional plan for the product. The idea is for Slender Vodka to start small in the local Las Vegas area, establish a following and strong customer base and then reach out to national distributors to sell Slender Vodka. We at Slender Vodka we will also be provide interaction with social networking in order to influence our potential customers to see the benefits of using our product. Our suppliers for the creation of Slender Vodka will be well informed on being flexible as this is a fresh new product that we feel will be very popular among women ages 21 and older. “For effective implementation and control, the marketing plan should define how progress toward objectives will be measured. Managers typically use budgets, schedules, and performance standards for monitoring and evaluating results. With budgets, they can compare planned expenditures with actual expenditures for a given week, month, or other period.” (Marketing An Introduction, MP2) Along with the marketing plan a contingency plan will be made if any thing were to change to the current marketing plan, i.e. budget, loans, suppliers. It is important that the market plan be able to adapt to any unexpected changes. “Some marketers also prepare contingency plans for implementation if certain conditions emerge. Because of inevitable and sometimes unpredictable environmental changes, marketers must be ready to update and adapt marketing plans at any time.” (Marketing An Introduction, MP2)

Final Project: Marketing Mix PRICE

Since Slender Vodka will be sold in single serving packaging the price of it will reflect what we feel is reasonable for the convenience of the product as well as making it your go to vodka without spending a lot of money. “Competition-based pricing involves setting prices based on competitors’ strategies, costs, prices, and market offerings. Consumers will base their judgments of a product’s value on the prices that competitors charge for similar products.” (Marketing An Introduction, 280) To purchase one single serving will be $4.99 a bottle. Since we are marketing towards only providing single servings we are also providing 6 bottles of single serving Slender Vodka at $15. We believe if you spend a little more on the convenience to keep your life simple it is well worth the money being spent. Each bottle will contain 4 ounces, one serving, of Slender Vodka for 100 calories. For any large distributors wanting to sell Slender Vodka we will provide a discount of 40% off with the purchase of 50,000 bottles or more.

The price of Slender Vodka is worth your money because it is doing its job to help you simplify your life. Slender Vodka is a great product that we created in the hope to help our customers. The value in your product is that we want to help woman forget about calories when they drink Slender Vodka. We believe our customers deserve a break once in awhile and need the opportunity to have fun. As women we understand. “Value-based pricing doesn’t mean simply charging what customers want to pay or setting low prices to meet the competition. Instead, many companies adopt value-added pricing strategies. Rather than cutting prices to match competitors, they attach value-added features and services to differentiate their offers and thus support higher prices.” (Marketing An Introduction, 278)

Final Project: Marketing Mix PROMOTION

Promotion for Slender Vodka will be the second most important priority. We want Slender Vodka to be a well-known product and for all women to know the benefits of using it. Distribution will first take place in Las Vegas, print promotion will be purchased to run in Las Vegas Weekly as well as Vegas Magazine. Both are distributed through out Las Vegas for free making it readily available for all residents of Las Vegas. Though a print ad will give women an opportunity to see the product, the biggest promotion will be the one night a month sponsorship with local nightclubs and restaurants. As mentioned in the distribution section of the Marketing mix, the sponsorship will provide Slender Vodka to be served one night a month for use of promoting the product. Flyers will be provided to show the product, the benefits of the product, and a drink pass to try one cocktail using Slender Vodka while out at the event. “Promotion means activities that communicate the merits of the product and persuade target customers to buy it. Ford Motor Company spends more than $2 billion each year on U.S. advertising to tell consumers about the company and its many products.” (Marketing An Introduction, 54) Slender Vodka wants to use promotion as a way to communicate with their potential customers to show this product was made for them to successfully control the number of calories they are consuming while drinking. Mobile promotion will also be used by text message. Any events being sponsored by Slender Vodka will be announce through text message. The information to sign up for text messaging alerts will be provided at the events as well as through the print ads. The benefit of having the text message is it will allow for one free Slender Vodka cocktail at the nightclub or restaurant that is supporting the product. With the increase of sales, promotion will also increase but be aware to not over promote and be lost in the “clutter” of promotion out their on the market. “The growing use of sales promotion has resulted in promotion clutter, similar to advertising clutter. A given promotion runs the risk of being lost in a sea of other promotions, weakening its ability to trigger immediate purchase. Manufacturers are now searching for ways to rise above the clutter, such as offering larger coupon values, creating more dramatic point-of-purchase displays, or delivering promotions through new interactive media, such as the Internet or cell phones.” (Marketing An Introduction, 432)

Final Project: Marketing Mix DISTRIBUTION

The distribution of Slender Vodka will start locally in the Las Vegas surrounding area. It will be distributed to two well known liquor providers, Las Vegas Wine Co. and Sam's Club. After seeing the need for the product it will be distributed to many locations that gear towards women's needs. One night club/restaurant in Las Vegas will be selected each month to be sponsored by Slender Vodka for a one-night event. The nightclub or restaurant that will be targeted will either having a themed "Ladies Night Out" or special event occurring to insure many women will be trying Slender Vodka. By providing these sponsorships it is a great way to have the night life of Las Vegas embrace the product as well as show women that they can enjoy themselves while out and not have to worry about be the girl with the "special order". “Place includes company activities that make the product available to target consumers. Ford partners with a large body of independently owned dealerships that sell the company’s many different models. Ford selects its dealers carefully and supports them strongly. The dealers keep an inventory of Ford automobiles, demonstrate them to potential buyers, negotiate prices, close sales, and service the cars after the sale.” (Marketing An Introduction, 54) In return for supporting Slender Vodka, the place of business hosting the sponsored event will have a discount of 40% off all products purchased in the future. By providing these opportunities for women to experience Slender Vodka in an atmosphere they would likely use it, it will develop that association of a good time with the use of Slender Vodka. Making Slender Vodka convenient to experience will lead to having the customer want to always have the convenience of having the product in their homes for use. Not only is Slender Vodka simplifying a woman’s life but at the convenience that they deserve. "Customers want the product and service to be as conveniently available as possible." (Marketing An Introduction, 54)

Final Project: Marketing Mix PRODUCT

Slender Vodka is our customers solution to counting calories in their favorite cocktails. "An effective marketing program blends all of the marketing mix elements into an integrated marketing program designed to achieve the company’s marketing objectives by delivering value to consumers. The marketing mix constitutes the company’s tactical tool kit for establishing strong positioning in target markets." (Marketing An Introduction, 54) With Slender Vodka you don't have to feel like you are on a diet because you are not using a diet product. You are having the work down for you by using the single servings that Slender Vodka provides. By using Slender Vodka you can easily know exactly how many servings of vodka you have had without the need to write down anything or just calculate a number in your head. All year there are many occasions and opportunities to want to enjoy a refreshing cocktail. Especially during the holiday season, with the pressure of shopping, family and friends visiting, and all the holiday parties, your body can really take a toll by just the stress and probability you are most likely consuming more food and calories than you normally do. By incorporating Slender Vodka into your holiday shopping list you can have some peace of mind knowing you will get to enjoy yourself but not have to worry about that dreaded after holiday weigh in. "Product means the goods-and-services combination the company offers to the target market." (Marketing An Introduction, 54)

Final Project: Target Market Stretegy

To make Slender Vodka a successful brand of woman, the target market is for woman ages 21 and older. The reason this particular market has been chosen is based upon the fact that woman are more concerned with their weight and calories versus mean. "Market targeting involves evaluating each market segment’s attractiveness and selecting one or more segments to enter. A company should target segments in which it can profitably generate the greatest customer value and sustain it over time." (Marketing An Introduction, 50) This target audience will increase sales and generate more profit. It is no secret that women are generations are looking for an easy way to be healthy. 


We at Slender Vodka will implement the  "value proposition" marketing strategy. Though Slender Vodka cost more it is because we have taken the hassle out of measuring your liquor yourself. We as women all want to enjoy ourselves when we are out celebrating or just looking for a night of fun. We offer the simplicity that you are worth. By providing this simplicity we can afford to make our product more valuable with the small increase in cost versus any other vodka. "The full positioning of a brand is called the brand’s value proposition the full mix of benefits upon which the brand is differentiated and positioned. It is the answer to the customer’s question “Why should I buy your brand?” Volvo’s value proposition hinges on safety but also includes reliability, roominess, and styling, all for a price that is higher than average but seems fair for this mix of benefits." (Marketing An Introduction, 198)

Final Project: Situation or SWOT Analysis

Strengths:

-No product like Slender Vodka is currently on the market.

-Starting locally to develop client base

-Targeting women who will use product

-Product is not diet but will help women who count calories

 

Weakness:

-Working in larger market of competing products.

-Small company with less resources for distribution

-Must use outside resources to promote product

-Budget

 

Opportunities:

-Having a January release will increase sales due to resolutions for many to lose weight.

-100 calorie items are highly popular amount women.

-Smaller packaging encourages more repurchasing.

-Find well known figure to endorse product

-Product can be priced higher due to taking “guess work” out of measuring the alcohol.

 

Threats:

-Well known competitors might begin selling similar packaging of their vodka

-Not every woman drinks alcohol even when designed to make “life easier”

 

With any new business or product the best way to organize your concept is to create a marketing plan. “A detailed marketing plan is needed for each business, product, or brand.” (Marketing An Introduction, 56) Within a marketing plan there such be a SWOT analysis to help identify the strengths, weaknesses, opportunities, and threats to which helps you recognize areas of improvement as well as see the areas that you have done a great job at. “The plan begins with an executive summary that quickly reviews major assessments, goals, and recommendations. The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities. The plan next states major objectives for the brand and outlines the specifics of a marketing strategy for achieving them.” (Marketing An Introduction, 56) By creating a SWOT analysis it will help Slender Vodka concentrate on how we want to market ourselves. Since our market group is women the SWOT analysis helps to understand what Slender Vodka offers women and what we can do to make our customers need Slender Vodka. 

Final Project: Objectives

Objectives:

Establish marketing ad to be ran in Las Vegas Weekly promoting Slender Vodka.

For the first initial year of Slender Vodka we are aiming for sales volume of 50,000 units.

Have an increase of sales by 60% during the month of December.

By the end of 2012 sales increase to units sold to 100,000.

Increase distribution to 100 alcohol distributors by 2013.

With the development of Slender Vodka our current business objective are to establish a client base. Marketing will be established with the ad campaign for Slender Vodka. With the use of the ad in a local magazine it will promote our brand to our available potential customers. “Marketing strategies and programs must be developed to support these marketing objectives. To increase its market share, Kohler might increase its products’ availability and promotion in existing markets and expand business via acquisitions.” (Marketing An Introduction, 43) Slender Vodka will be made available in 2 local liquors stores in Las Vegas, NV, Las Vegas Wine Co. and Sam’s Club. Both distributors are well established and have a customer base that will increase sales for Slender Vodka. By limiting the number of stores it will make the product exclusive and have customers willing to buy more at one time.

These objectives have been created in order to begin the steps of establishment. Since there is no current product on the market like Slender Vodka that is a great stepping stone to becoming a well-known low calorie brand. In this health conscience world a portion control product has a great stamina power. Sales and promotion objectives will change and be updated due to costs and will reflect the first initial year of distribution. “Sales promotion objectives vary widely. Sellers may use consumer promotions to urge short-term customer buying or to enhance customer brand involvement. Objectives for trade promotions include getting retailers to carry new items and more inventory, buy ahead, or promote the company’s products and give them more shelf space. For the sales force, objectives include getting more sales force support for current or new products or getting salespeople to sign up new accounts.” (Marketing An Introduction, 432)

Week 9 Final Project: Business Mission Statement

Mission Statement:

“Creating an amazing tasting low calorie cocktail to simplify any woman’s life”

Slender Vodka wants to create an experience that you do not have to feel guilty about. That is why our mission statement says it all. We want to simplify your life by providing premium vodka in a serving size that does not make you regret your decision to drink. “An organization exists to accomplish something, and this purpose should be clearly stated. Forging a sound mission begins with the following questions: What is our business? Who is the customer? What do consumers value? What should our business be? These simple-sounding questions are among the most difficult the company will ever have to answer. Successful companies continuously raise these questions and answer them carefully and completely.”(Marketing An Introduction, 39) We developed this mission because we understand how difficult it is at times to want to enjoy the simple pleasures of life without the worry of counting calories. A woman’s life can be extremely hectic. Whether you are a stay at home mom, a nurse, a businesswoman, or student in college calories are prominent subjects in our daily lives. We at Slender Vodka understand that not everyone has the time to look up the amount of calories in their food let alone in their cocktail. By providing single servings of Slender Vodka you no longer have to decide between having a little fun and sitting on the sidelines. We set ourselves apart to recognize that the health of our customers is why we created this product. We want woman to use our product because we care. “A company’s mission should not be stated as making more sales or profits, profits are only a reward for creating value for customers. Instead, the mission should focus on customers and the customer experience the company seeks to create.” (Marketing An Introduction, 41)

Week 8 EOC: Creative Content

Slender Vodka is premium vodka created for women who like to enjoy a cocktail but want to be aware of how much they are consuming. Slender Vodka will be displayed in a magazine ad in the bottle form that will be created. The ad will only display the single serving bottle to show the design of the bottle. Since the vodka is marketing towards women the bottle will be clear with a light to dark pink gradient effect on the bottom to emphasize that Slender Vodka is for women. The bottle will be displayed on a white background to show the freshness you will experience from the splash in the lime in the vodka. The white background will also help the pink gradient on the bottle pop and be an eye catcher to those flipping through a magazine quickly. The ad will display the catch phrase for Slender Vodka, “No More Counting Calories” next to a cocktail glass using Slender Vodka. I will using my own images for the ad and use the assistants of a graph artist to help create the look of the bottle in Photoshop. The ad will also display the “Drink Responsibility” information on the bottle of the ad. No prices will be included on the ad because I personally believe it will distract from the bottle. 

Week 7 EOC: The Pitch

Slender Vodka

For the ladies that want to have fun on the weekends but not have to worry about Monday’s weigh in, your answer is here, Slender Vodka. By being continuously distilled to insure flavor and a splash of lime, Slender Vodka is premium vodka for women looking for a way to enjoy a cocktail without the worry of counting calories. Slender Vodka is designed to enjoy in 100 calorie serving bottles to enjoy with your favorite cocktail. No need to deprive yourself of having fun, simply try Slender Vodka.

No one wants to be the girl who sits in the club without a cocktail in hand because you’re watching your weight. You could have done that at home! As women we are always on the lookout for new easy ways to have fun without the worry of gaining weight.  Slender Vodka takes the guess work out for you. With Slender Vodka no need to bring your measuring cups when you go out with your friends. With the combination of amazing taste and simplicity of 100 calorie bottles Slender vodka does the work for you. Adding Slender Vodka to your favorite mixer will have you enjoying the night without the fear of the scale on Monday. With the ease of 100 calorie bottles you can even bring your favorite vodka to enjoy at a party or get together. All your friends will want to know how you are able to go out and still keep that amazing figure. Your friends will be thanking you for sharing the secret and so will we. The name says it all, Slender Vodka. 

Week 6 EOC: Things I buy that "define" me

Spending money is always a trigger of emotions and feelings. If you’re going to grocery store to buy a carton of eggs and bread more than likely you are not too excited about spending more money on food because you’re going to have to come back and spend more money when you run out of food. Your emotion changes when you spend money on things you want. Instead of buying something you need, you feel that high if you buy something you have wanted or something you really love. I will admit I love shopping. What girl doesn’t? I don’t need the excuse of the holidays or a birthday to need to shop. As a child my mother would beg me to start carrying a purse. I would normally stick my money in my pockets and go to the store with crumpled bills and my other pocket would be jingling with the change I would bring as well. Every time my mom told me to get a purse I refused. Why would I want to carry something else when I could stick my money in my pockets? High school is when I finally discovered my love for designer purses. I became obsessed with them. Louis Vuitton, Chanel, Coach, Versace, Valentino, Burberry. I could go on forever. The smell of leather in the store was seductive to me. As an adult I realized I became known for always carrying a designer purse. To me it’s like carrying art on your arm and I love adding to my gallery.

As I think about what items in my life that “defines” me I instantly think of my glasses. I’ve worn glasses since the 4^th grade. At that age I would get my favorite color but now as an adult my glasses have changed at least once a year. My latest pair, purple Vera Wang’s with thick bold frames. I choose my glasses first on label, appearance, comfort, and then price. I have been very fortunate to be able to afford glasses that I really love and love wearing. I have considered getting Lasik eye surgery, but then I would lose my reason to buy a new pair of glasses. To me glasses are basically an accessory for my face.

One last thing item that I feel makes me happy and really defines my need for beautiful things is makeup. Sure I could go to the grocery store or drug store and buy my makeup there but I don’t get the same feeling I get when I spend my money on high end makeup from Sephora or a department store. Whether it is the higher quality or the experience I get from going to the store, I look forward to the day I allow myself to purchase new makeup. My collection is big enough so that I wouldn’t need a new eye shadow or lipstick for years but something about finding a new item I know I’ll love makes me in turn feel satisfied.

As a result, all of the items that I consider “defining” of myself seem quite shallow. None are for medical reasons or to survive but all because I want them. I don’t have to carry a designer purse or buy makeup from a department store. I want these items. There is no real reason why I do. I can afford them and I know the feeling I’ll have once I do so I continue to purchase them. If society only bought things they needed we would be very different people. The experience created by these companies is proof that with great marketing you can sell anything even in times when people should be saving.

Week 5 EOC: Midterm

In today’s society we literally interact with everyone through social networking and the internet. If we want to see what someone did this weekend, instead of asking them we look on their Facebook page. If we want to know what’s in style we look it up online. Such simple things that we used to do before checking the internet is now second nature to hop online to your favorite website and do a little research. It comes as no surprise that we have become a world where now you can find a job or career just by your interaction with the internet. In the article “Job Recruiters Turn to Facebook to Find Candidates” many recruiters have used Facebook as a way to save money on posting available jobs on Facebook. Though the percentage of hiring is only 1%, it does become show that even Facebook can help someone find a job they might otherwise not have seen. Also since Facebook is so widely used it gives the confidences in its users that job listings are more legitimate. “Candidates have been 50% more likely to apply to positions they found through Facebook than through othermeans, said Mr. Staney. "[Job boards] just blast it out. This is much more efficient and targeted," he said.” (Light, 2)

More companies like Facebook are using their customers love for their product in order to develop product ambassadors. Who better to endorse a product that a real life person who loves it? Sony and JetBlue are among the companies using real customers as ambassadors of their products. It believe it is a great way to give back to their clients, even though these clients would use their product anyway, and also a great tool to see what the company can do to better improve their products. “Brand ambassador programs leverage the power of peer-to-peer communication. Consumers hear about products and brand experiences from others just like themselves—people they trust—rather than from commercial marketing sources. “It’s the value of having someone there who wants to talk to you about the product and the features,” says one brand ambassador. “It’s not really about sales; it is about sharing of information. If you go about it in a way that is positive and relatable, it’s a positive experience for [both parties].” (Armstrong & Kotler, 15)