My Phileas Fogg snack has many benefits and
features. “Given their wants and resources, people demand
products with benefits that add up to the most value and satisfaction.” (Marketing
an Introduction, Armstrong /Kotler, p.6) In order to sell your product,
consumers want benefits from the product. Some of the benefits that my product
has are that liquor goes extremely well with my Phileas Fogg snack. Another
benefit that my product has is that it is a premium product that will be
available at bars as well as clubs tat people enjoy and like going to. “The
company can offer greater customer value either by charging lower prices than
competitors, or by offering more benefits to justify higher prices.” (Marketing
an Introduction, Armstrong /Kotler, p.53) When a product
has benefits that consumers love, then there will be more consumers interested
in purchasing your product. Some consumers also love to have features on their
products. Ford and many other companies are great examples of business that
have different features so that their consumers are satisfied with their
product. “Ford offers several Escape models and dozens of optional features.” (Marketing
an Introduction, Armstrong /Kotler, p.54) There are some consumers who only
like the basics, and there are other consumers who like more features. The
feature that my Phileas Fogg snack will have is the way it is packaged. The
packaging of my snack will be unique because it will be in a package that looks
like a big red pepper. Another feature
that my snack will have is the great spicy savory flavor to it. The look of my
actual snack will also be a feature because it will look like a fresh shrimp.
Lastly, my product will be sold for $3.99 for 2.5oz of product. My product will
be valued because it will be a premium product sold at an affordable price.
Wednesday, September 11, 2013
Wednesday, August 28, 2013
Implementation Evaluation Control
“To find the best marketing strategy and mix, the
company engages in marketing analysis, planning, implementation, and control.”
(Marketing an
Introduction, Armstrong /Kotler, p.50) For some people it
is easy to come up with ideas of new products to be place in the market. After
coming up with a plan, a company must find a place where they can make the products.
That would be the first part of implementation. When finding a place that will
be willing to make the desired product, the company must look at the prize of
everything, because the company still needs to make profit. After finding out
where the final product will be created, we would have to find out the places
where we would sale the product at. Since my Phileas Fogg snack is an adult
snack, I would have to look for bars and clubs where I could sell my product.
After finding the bars and clubs where I would want to sell my snacks at, I
would take them to different states of the country. Once my product sells
nationally, I would like to go world wide, and would want my product to sell al
over the world. “Marketing implementation is the process that turns marketing plans into
marketing actions in order to accomplish strategic marketing objectives.”
(Marketing an Introduction, Armstrong /Kotler, p.57)
Price
“Price and service are the major
marketing factors; branding and advertising tend to be less important.” (Marketing an
Introduction, Armstrong /Kotler, p.212) Price is very important when it
comes to a business that wants to sell a product or service. If the company
does not set for the right prize the consumers will either purchase too much of
it, or not purchase it at all. If the prize is too high, consumers will go to a
different distributor of a similar product. If the prize is too low, the
consumer will want to purchase too much of it that there might not be enough
supply to complete with the demand. “A group of products that
are closely related because they function in a similar manner, are sold to the
same customer groups, are marketed through the same types of outlets, or fall
within given price range.” (Marketing an
Introduction, Armstrong /Kotler, p.219) Since there are
some products that are all ready in the market, the competition with prize is
very high. My plan is to sell my product for $3.99 for 2.5oz. There are people
who are wiling to purchase my snack because we live in a culture where people
like to have fun and enjoy a good snack. When people go out to bars and clubs,
they are use to spending from $10-$25 on a drink, they do not worry about the
prize. Those people want the experience and are willing to pay for it. My snack
will have value, and that is what my consumers will appreciate, and will be
willing to repurchase it again. “The process by which companies create value for customers
and build strong customer relationships in order to capture value from
customers in return.” (Marketing an Introduction, Armstrong /Kotler, p.6)
Promotion
Promotion is the basic way to encourage consumers
to try a new product or service. “Promotion: Developing and spreading persuasive
communications about an offer.” (Marketing an Introduction, Armstrong /Kotler,
p.313) One of the basic things that a company needs in order to make
profit and be known as a company is a web site. The time that we live in makes
a company have to have a website because of the time that we spend online. The
first thing that I would do to be able to promote my product is by building a
website for my Phileas Fogg snack. My website will have all of the information
about my product. That website will also be the main place where people can
ask/ have any questions or concerns. My website will also have information
about where my product can be purchased. The website will also have the
addresses of my consumer’s local bar/ and or club. The website that I will have
for my Phileas Fogg snack will also be a place where consumers can get coupons
to buy my snack. My website will also be up to date, and will also feature new
locations that my product will be sold in the future. Another way that I would
like to promote my product is by having a Tumblr and an Instagram where my
consumers can post videos and pictures of them enjoying my delicious snack. Whenever
they would post something on my snack’s Tumblr and Instagram they will get a
special offer to go back and buy my snack again. “Promotion spending is relatively high to
inform consumers of the new product and get them to try it.” (Marketing an
Introduction, Armstrong /Kotler, p.259) Since promotion can
be very expensive I would also partner with major alcohol and soda beverage to
promote my products.
Distribution
“A review of distribution
that evaluates recent sales trends and other developments in major distribution channels. “ (Marketing an Introduction, Armstrong
/Kotler, p.56) To distribute my Phileas Fogg snack, I
would partner with beverage companies that all ready help distribute other products.
I would like to partner with soda and beer companies, as well as potential
companies that deliver their products to all kinds of bars and clubs. I would
like to partner with beer companies as well as the Coca-Cola beverage company. “And they must find ways to “partner” with major distributors in a search
for distribution economies and improved joint performance.” (Marketing an
Introduction, Armstrong /Kotler, p.232) The design of my product
will also be an advantage for distribution because it will be unique and
different from all the other products that are available in the market. “Resellers are distribution channel
firms that help the company find customers or make sales to them. These include
wholesalers and retailers who buy and resell merchandise.” (Marketing an Introduction, Armstrong
/Kotler, p.68) The main distribution for my product
will be the companies that I would partner with.
Product
 |
| Final Product |
Target Market Strategy
“The art and science
of choosing target markets and building profitable relationships with them.”
(Marketing an Introduction, Armstrong
/Kotler, p.9) When
a company knows their target market, they have a better idea of how to market
their product. When the company is aware and they know exactly their target
consumer, the company will know have more profitably. They will also not waste their time trying to
market to other consumers. For my Phileas Fogg snack, Enchilado de Camarones
corn chips, my target market are those who enjoy alcohol drink along with a
side of a delicious spicy snack. My snack is targeted to those who are
outgoing, and are adventurous. “The
company must first decide who it
will serve. It does this by dividing the market into segments of customers (market segmentation) and selecting which segments it will go after target marketing).”
(Marketing
an Introduction, Armstrong /Kotler, p.9) I
decided to serve a crowd of people who are outgoing because I want my snack to
help my consumer socialize with other around a bar, for example. I want a
target market that is enthusiastic, friendly, and very outgoing. When people go
to a bar or a club, they go to drink, snack on, and socialize. That is why my
snack is the perfect snack that will help consumers who enjoy drinking alcohol.
Situation or SWOT Analysis
In order for a company to succeed and keep in
mind of how their company needs to grow and flourish, they must carry out a SWOT analysis. " The
marketer should conduct a SWOT analysis,
by which it evaluates the company’s overall strengths (S), weaknesses (W),
opportunities (O), and threats (T)." (Marketing an Introduction, Armstrong
/Kotler, p.55) Strengths
for a company are considered to be positive situational factors that can help a
company serve their consumers, resources, capabilities, etc. The strengths for
my Phileas Fogg "Camarones Ardientes" snack are that there is no
other snack in the market that offers a hot spicy shrimp snack that goes well
with alcohol. Another strength that my snack will have is the quality of the
final product. The quality will be exceptional compared to the other snacks
that are available in the market at this time. Consumers will want to try out
my product because my snack will be savory and it will be as well extraordinary.
A weakness is considered to be internal limitations/ and or negative situations
that can get in the way of a company's performance. Since there are a lot of
other snacks out there in the market, one of the weaknesses that my Phileas
Fogg snack can have is that some consumers might not want to purchase the snack
because of its cost, yet when they will try my product they will certainly be
more than happy to buy it again. " Opportunities are favorable factors
or trends in the external environment that the company may be able to exploit
to its advantage. " (Marketing an
Introduction, Armstrong /Kotler, p.55) An opportunity for my Phileas Fogg snack is that our culture is more
open- minded to explore new things. With this being said, the public will be
more than happy to try my product. Another opportunity for my Phileas Fogg
snack is that the target market that my snack that I am aiming for is willing
to pay the price of my snack. "Threats are unfavorable external
factors or trends that may present challenges to performance." (Marketing an Introduction, Armstrong
/Kotler, p.55) A
threat that I can see my Phileas Fogg snack going through is if my target
market does not enjoy/ or like shrimp. Another threat that my snack can have is
if my target audience does not enjoy a spice and their snack.
Objectives
“The company needs to turn
its mission into detailed supporting objectives for each level of management.”
(Marketing an Introduction,
Armstrong /Kotler, p.41) In order for a company to achieve and be more
successful, it should have basic objectives. The objectives are the ideas that
the company will be committed to deliver a great performance for its
consumers. The objectives that my Phileas
and Fogg snack will have are to promote a profitable and sustainable snack that
meets the needs of our consumers, to provide an unforgettable snack that people
will crave again, to provide with excellent customer service, and to be the our
consumers favorite alcohol snack. It first starts with goals that I want my
snack to achieve which then they will convert into our goals. “These
goals then become the company’s current marketing objectives.” (Marketing an Introduction, Armstrong /Kotler,
p.43) The
objectives of the company are very important because it helps the company/ brand
remembers what their goals and the things that they want to achieve as a brand.
Business Mission Statement
"A mission
statement is a statement of the organization’s purpose—what it wants to
accomplish in the larger environment." (Marketing an Introduction,
Armstrong /Kotler, p.39) A mission statement is one of the most important descriptions
that a company can have. It shows their potential competitors and their
consumers what really matters to them as a company as well as what they want to
accomplish. A mission statement is what the company wants to achieve, and what it
truly believes. Just like there are different kinds of companies there are
different kinds of mission statements. Some mission statements are long and
some are short. I believe Google has a great mission statement. "Google's mission statement isn’t something namby-pamby like “To
be the world’s best search engine.” It’s “To organize the world’s information
and make it universally accessible and useful.” "(Marketing an Introduction, Armstrong /Kotler, p.41) It can be hard to come up with a good and meaningful mission statement because
that is how people will remember your company. Phileas Fogg snacks are more
than just a product to use, it is a product that you consume. Therefore, it has
to be more than just good, it has to serve high-quality of ingredient, so that
the final product is significant. My mission statement for my Phileas Fogg
snack is the following: We are dedicated to provide with the highest quality of
ingredients to offer our consumers the most excellent alcohol snack that they
have been looking for.
Week 8 EOC: Phileas Fogg Adventure
It was a hot summer night for the adventurous professor,
Phileas Fogg, ready to go home after a long day of grading archeology reports
in his office. As I was getting ready to
walk out of my office, I hear a knock on my door, and I wondered who could it
be at this time. When I opened the door,
there was no one there, as I looked down I saw this box wrapped as a gift. The
box had a card that said, "To: Phileas Fogg, From: Yelena, de La Isla Del
Encanto". When I read this I was very confused because I had no idea what
that meant. As I unwrapped the box I was very curious to see what was inside.
When I finally got it opened I was amazed of what was in it. It was a meal. I
was extremely hungry after grading all of those papers, so I decided to try
this dish. It was shrimp covered in a rich red sauce. When I to taste it, and
as I was putting it into my mouth I could taste the explosion of the flavors
that this amazing dish had. It was very spicy, savory, and crunchy. I knew this
dish wasn't from anywhere close to where I was in, I had to find out from where
this dish came from. I decided to go to one of my Hispanic friend's house,
Julian, to find out what the card meant. Julian told me it meant that it was
from a women named Yelena that is from the Island of Enchantment. I was very
confused because I still didn't know what that meant. My friend Julian told me
that Puerto Rico is known to be La Isla Del Encanto. I knew I had to go to
Puerto Rico to find the women that sent me this delicious dish. Julian decided
to come with me to Puerto Rico. When we got to the beautiful island of Puerto
Rico, Julian and I decided to go to a bar in Cayey. When we were in the bar I
heard a man say "Yelena". I decided to go up to him, and I asked him
if he knew where she was at. He said "she is hard to find". He told
me that she lived in a cave, very deep in the forest of Cayey, Puerto Rico. I decided to go to that cave, but certainly it
wasn't easy to get there. There were mountains and trees that I had to climb.
There were also raging rocky rivers that I had to swim through, then I finally
found the cave were Yelena was at. Yelena was very beautiful, she had long
black hair. After admiring her beauty, I decided to ask her about the wonderful
savory shrimp that she sent me. She gave me a glass bottle that had a red
substance inside that sort of look like a red sand. I decided to take the lid off
the bottle and I smelled it; smelling this substance really burned. I decided
to taste it, and it seem to taste like a truly crushed red pepper. I asked her
to tell me where this came from and she told me that thousands of years ago,
the people of Puerto Rico found beautiful exotic red peppers. I asked Yelena
how she made that savory shrimp, and she told me that the shrimp was fried to
perfection, and other types of peppers where mixed together to be added on to
the shrimp. Then she told me that one of the secret ingredient to that
wonderful shrimp that I tasted was that crushed red pepper that I had in my
hands. I was amazed that I had the secret ingredient in my hands, and so I
asked her if she was willing to be a part of my future adventures, and unexpectedly
she said, "yes ". Because of Yelena I had one of the best experience
finding a delicious spicy shrimp in Puerto Rico.
Wednesday, August 21, 2013
Week 7 EOC: The Pitch
My version
of Phileas Fogg snack will be very similar to their chips snack. My adult snack
is inspired by the beautiful island/country of Puerto Rico. The Puerto Rican
dish is called "Enchilado de Camarones". This dish is made from
different spices that are added on after the shrimp has been peeled. My adult
version of Phileas Fogg snack will be a little different from the real Puerto
Rican dish. My version will be made out of corn chips and it be in shape of a
shrimp. My snack will be shrimp toasted with a translational flavor of really
spicy shrimp. I decided to go with a spicy snack because I feel that, the
hotter the spice , the better it is for an adult snack. I chose Puerto Rico for
my country because I believe that Puerto Rico is a beautiful island that is
perfect for any adult, and for the purpose of this project. When I thought
about the project that we have to do, I thought about Puerto Rico right away because
I feel that it is the perfect place to get a new Phileas Fogg snack. The narrative
for my Phileas Fogg will start with a woman that is with her friends in a
Puerto Rican bar drinking. She looks at everyone around in the bar thinking if
she is the only wanting to have something good to munch on while she drinks. She
wonders off and thinks of how all of the drinking bar snacks are dull and
tasteless. She had a craving for really spicy shrimp. Then she thought,
"that is exactly what I want a bar snack to taste like." She talked
to people that enjoy drinking and ask them of what they thought about her idea.
Her idea was taken into consideration, and new delicious bags of toasted spicy
shrimp were integrated into all bars in Puerto Rico.
Wednesday, August 14, 2013
Week 6 EOC: Me x3
 |
| http://fabulousfinds4.blogspot.com/2012/04/ favorite-nail-polish-brand-opi.html |
There are many things and words that can describe a person's
personality. I am a person that is creative, ambitious, as well as very
feminine. I believe that some of the things that I personally own that define
my personality are my nail polishes, my Mac Book Pro laptop computer, and my
high heels. I believe that the nail polishes that I own define my personality
because I am a person that is very creative, and with my nail polishes I can do
whatever I want and show my creativity as well. There are so many different colors
and shades of nail polishes that get me inspired to create designs on my nails
that show of my creativity. My nail polishes are for sure one of the things
that I own that define my personality.
 |
| http://uk.hardware.info/reviews/2833/apple- macbook-pro-with-retina-review |
 |
| http://www.mompreneurmogul.com/2013/07/mom s-are-super-heroes-wearing-high-heels.html |
Wednesday, August 7, 2013
Week 5 EOC: Social Networks and Job Hunting
 |
| mail-attachment.googleusercontent.com |
Sources: https://mailattachment.googleusercontent.com/attachment/u/0/?ui=2&ik=3551bb32de&view=att&th=1407bf88210a664d&attid=0.1&disp=vah&safe=1&zw&saduie=AG9B_P97bfR_GaKdUE910Wp2gxUw&sadet=1376501747327&sads=nyFUq9jsw6JAerDhs9oObZMhQCk&sadssc=1
wsj.com
http://www.businessweek.com/articles/2012-12-13/job-recruiters-turn-to-linkedin-social-media-startups
Wednesday, July 31, 2013
Week 4 EOC: Business to Business Marketing
Consumer and
Business marketing have some similarities as well as some differences. There
are several levels that might affect consumer buying behaviors. "Buying
behavior is never simple, yet understanding it is the essential task of
marketing management. Fist we explore the dynamics of the consumer market and
the consumer buyer behavior." (Marketing an Introduction, P.136) There are many series of stages for
business to think about before marketing to anyone. Then they can examine
business markets and the business buyer process as well. The first step is the
consumer buyer behavior which is "the buying behavior of final
consumers—individuals and households that buy goods and services for personal
consumption." (Marketing an Introduction, P.136) Certainly consumers are the ones who
are targeted because they/we are the ones that buy the products and they/we are
the ones who consume the products as well. All of the consumers in the nation
are the ones who make up the consumer market. "The American consumer market consists of more than 300 million
people who consume more than $14 trillion worth of goods and services each
year, making it one of the most attractive consumer markets in the world. "
(Marketing an Introduction, P.136) If
you consume a product or good you are part of the consumer market. According to
our marketing book, the world consumer market consists of more than 6.8 billion
people who annually consumer about $70 trillion worth of goods as well as
services. The exact definition for business buyer behavior is "the buying behavior of the organizations that buy goods and
services for use in the production of other products and services or to resell
or rent them to others at a profit." (Marketing
an Introduction, P.157) The difference between consumer marketing and
business marketing is the fact that consumer marketing is consumed by consumers,
and business marketing are products that are marketed to the consumers. The
business marketing people are the ones who make profit from the products that
the consumers consume every day.
Wednesday, July 24, 2013
Week 3 EOC: My Demographics
The Millennials (or Generation Y) generation is
considered to be "both the baby boomers and Gen Xers will one day be
passing the reins to the Millennials (also called Generation Y or the echo
boomers). Born between 1977 and 2000, these children of the baby boomers number
83 million, dwarfing the Gen Xers and larger even than the baby boomer segment.
This group includes several age cohorts: tweens (aged 9–12), teens
(13–18), and young adults (19–32). With total purchasing power of more
than $733 billion, the Millennials make up a huge and attractive market.
(Marketing an Introduction, Armstrong, P.73) The Millennials are the 83 million
children of the baby boomers. According to this definition I fit into the
Millennials generation. I would be consider to be a young adult. According to
our Marketing book, what Millennials have in common is their utter fluency and
comfort with digital technology. I do believe this is true, because in my case
I do love technology and when something new in the technology industry comes
out, I enjoy knowing how to work it. I also do like electronics and I am very
comfortable with technology. In the book they say that as Millennials, we "don't
embrace technology, it's a way of life." I also agree with this statement
because everything that I do involves technology. For example, I do all of my
homework with a computer, and I am always on my phone. There is not one day
where I do not use technology in my life, I always do. We not only have
computers available, but we also have grown up with cellphones, satellite TV,
iPods, and online social networks. I have do have access to all of the things
just mentioned. We are the generation that uses most of the technology, and I
do agree that we are. The definition that our Marketing book has about the
generation Millennials, I do believe that it is on point and I also believe
that it describes me one-hundred percent.
Sources: http://digitalbookshelf.artinstitutes.edu/#/books/9780558851903/pages/48921802
Week 3 EOC: Making Money for Good
 |
| http://www.nikawater.org/ |
Nika is a company that focuses on giving back to the
community and people who is in need of water. This company supports those
countries where people do not have water to drink, Nika makes it possible for
those countries to have accessibility to water. Nika's company sells water,
apparel, accessories, as well as other things. This company is a known to be a company
that makes money for good. "What if every bottle of water you drank
provided clean water to someone in need?" (http://www.nikawater.org/assets/pdfs/Nikagivesall.pdf)
There plan to help people in need of water is, for every purchase that is up to
$20, the company will "directly to SurfAid International in providing a
new clean water project in the Mentawai Islands of Indonesia." (http://www.nikawater.org/) This company
makes it very easy for people and its consumers to purchase their products, as
well as letting their customers know that they are buying a product that at the
end will help people in need of clean water. "Nika Water is social cause-
driven, eco- responsible, premium bottled water, currently sold in thousands of
nationwide retailers." (http://www.nikawater.org/about-us/)
This company is very serious at what they do because they show that they care
about those in need who live in poverty. This company has all ready helped so
many countries who are in need of clean water. They have committed to over
$400,000 to water wells, plumbing, water catchment systems, schools, as well as
trees. Some of the countries that this Nika has all ready help are Kenya,
Uganda, Sri Lanka, Tanzania, Brazil, Ethiopia, as well as Nicaragua. Nika is a
very caring company that not only cares about the people in need, but also
cares about the environment. Their Nika
Water is considered to be one of the most environmentally friendly bottled
waters that are in today's market place. Nika is one of many companies that
care about poverty as well as the environment.
Wednesday, July 17, 2013
Week 2 EOC: Boston Consulting Group - Video Games
Technology in entertainment has severely changed
over the recent years. "In 1982, Creative Computing magazine picked up on
the idea that Tennis for Two might be the first video game ever and it
published a story on the game in that year's October issue." (http://www.bnl.gov/about/history/firstvideo.php)
In the year of 1985, the first Nintendo system came out and it end up
"Selling over 60 million units, people brought games like Mario and Zelda
into their homes for the first time on the NES." (http://www.nintendo.com/corp/history.jsp)
The Nintendo company has continued to come up with new technology in the video
game area. I believe that Nintendo as a video game company and their video game
system, The Wii stands in the Star of the BCG Growth-Share Matrix. This is one
of the video game companies that has been there since the beginning, and that
is why I feel that they are in the Star. I believe they listen to their target
audience as well as how technology is changing and growing. They are one of the
companies that have adapted to the changes of technology and have come up with innovated
ideas and creations for their consumers. I would say that in the BCG
Growth-Share Matrix, the Xbox 360 + Kinect would fit the category of the Cash
Cow. I believe that this system fits in this category because they are also
changing and adapting to new technology. "Because with Kinect, there are
no controllers. Or remotes. There's just you. And if you ask us, that's all you
need." (http://www.xbox.com/en-US/KINECT)
I really do like the idea of no controllers when you play video games, it gives
it a more interactive concept to the idea of video games and I think it is more
interesting and can be more fun. I also think it's a better way to have fun because
your actually working out instead of just being lazy and just sitting down. I
really like how this company has changed many things in the video game
industry. Lastly, I think that the PlayStation would fit in the Question Mark
category of the BCG Growth-Share Matrix. I believe this because I don't think
they are as innovative as the previous companies, although they have really
good products. It's very interesting to see how many companies innovate and
adapt to the environment and everything around them, while other companies
think they have a good product, and they forget about the idea of innovation.
http://www.nintendo.com/corp/history.jsp
http://www.nintendo.com/corp/history.jsp
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